The daily union., 1854-11-28

government that the Russians weakened in the bat
tie of the 5h that for days they would not be in
position 10 resist assault upon the town" and that he
means TO make the attempt In the face of this we have
positive intelligence that the Russians renewed their attack
upon the allies Ia singular evidence of weakness the
morning of the 9Th the result of which attack will be
known before the arrival of the next Liverpool steamer
due at New Y ork Thursday next
1t is clear to mind that the Russian troops fully
up the mark of those of the allies in discipline appoint
ments valor enthusiasm devotion their leaders and in
every other moral and physical essential which constitutes
an effective soldier and it is also equally clear that in
point of numbers, the allies fairly overmatched
Menschiko has already received large reinforcemens
while several divisions of the grand arms rapidly
moving his aid To add the enthusiasm of the troops
the Gar has his the Crmea and they
with the army under Menschko Nicholas it is ad
and if he did believe the game already won it is
to sebasopo incur the risk of gracng the aures of his
enemies.
The heavy fall in English consols on the receipt of the
last intelligence from Sebastopo aforts clue TO
the state of public feeling in England To prevent
defeat prompt and vigorous efforts making both
sides of the English channel obtain the needed
Every available steamship has been chartered convey
troops France will be able respond to the demand, but
where will England obtain her quota of if she has not
recourse to her militia?
To add to the critical situation of the allies their
and losses were not known in Paris London be-
fore the l4h instant The mperatiyey needed reinforce
Pa nd hot, ba bn
ginning of month and it therefore remains be
whether the allied army will be able make successful
stand against the terrible and uninterrupted onsaughts of
Menschikof for the space of thirty days.
We have devoted of late large portion of columns
to the details of the exciting from Europe with the
view of enabling the reader form correct idea
would permit Of the progress of the war in the
East with its attendant casualties and both
sides Although not participant in the great struggle
going forward for mastery in the Black sea- have
greater pecunary interest during the pendepcy and in the
issue of that struggle than any power in Europe the bel
ligerens alone excepted Millions upon millions Of Ameri
gold have been sent by England and France to the East
for the support Of the allied aee and armies and this
drain of our precious metals must continue just long
the necessities of the countries remain in their
present urgent condition, Excessive importaons i'm
debts contracted abroad by to coin word
rairoadng, and the of State and federal
securities held in England account f,- our tribu
tary situation. While there is little or no demand
In England or the continent for American stocks very
large amount of securities have within the last six
months been thrown upoa the market foreign account
The benefits likely to result to the United States from the
war are prospectivenot immediate in their character
We must continue to meet the foreign demand for specie
but the demand will be regulated to avoid the
necessity of suspension Of specie payments by the banks
The foreign bondholders well know that if banks are
compelled to adopt such extreme measure it would
almost immediate depreciation in the value of
State, railroad and ohSr securities to the amount of
at least hundred millions; and it is not likely that
they will apply the until it reaches the point of
pension.