Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-04-14

o. Consols.-that is, the certificates OF the con
solidaed debt of Great Britan-are ten per cent be-
low what they this time last year the latest adj
vices reporting them at 88. At time, for few
days, last year, they touched as high point as loo
or par This stock the heaviest and least fuctaatng
in Europe, in the world, is watched with peculiar
attention as a sort of barometer of the money mar
ket, its fall indicating an approaching storm but
besides indicating, it has also power OF producing
or continuing the STORM by the panic which 1t creates
among capitalists and the trading community. The
demand for gold to meet the exigencies of foreign
war; has also had the effect of reducing the specie in
the Bank of England to the extent of half million
of pounds, and the drain appears likely to contn
the Bank is expected 10 put up its rates of dis
count for its own protection. This measure will ne
ceSsariiy increase the stringency in the money
market.
Linked together, as our commercial and moDied at.
fairs are with those of Europe, and especially of
Great Britain it is next 10 impossible that should
wholly escape the effects of any serious disturbance
there, and it is certainly the part of prudence to be
prepared to meet such effects so as not to be serious
ly ured by them, in the same manner as prudent
mariner would trim his ship 10 weather an approach
ing storm.
The fall in the price Of consols together with 9TH
er stocks, and the general monied sringency which
to be impending, are, of course directly attrb-
utabe 10 the outbreak of hostilities :vhch can no
longer be avoided, nor their cost duration calcula-
ted, producing arrangement of trade, and diverting
capital and labor from their legitimate channels SO
far as the United States concerned the injurious
effects of this crisis only be temporary and tran
sient in their character, while its ultimate results
will to her permanent advantage, so long, at
least, as she can maintain the position of neutral.
But we cannot hide from ourselves the growing con-
vicon that speculations made for speedy rise, or
even for a present maintenance of the high prices
which now rule, must eveutuate in disappointment if
not serious loss 1t is true, we may be mistaken but
if we are all the indications are deceptive. The
great increase in the real and tangible wealth of the
country, and the immense development of its
sources, render crash, approaching in any degree
to that of 1887, an absolute impossblity. Real bona
fde business has little nothing to fear but incon
sderate speculation is bound 10 receive check, at
least, for the present.
G5- We notice that great many of our brethren
of the North Carolina press off for Charleston to
be present at the grand Commercial Convention. We
trust they may have pleasant time of it, and only
regret that cannot conveniently be along with
them 1t is true We can perceive no earthly advantage
which we, of Wilmington, of the Stale at large,
could hope to derive from lis action or resolves but
the reverse STILL it can do no harm to be represented
there That will commit nobody, and may prevent
silence being taken for consent TO schemes which
would be injurious and unfair to
Nevertheless, it will be pleasant occasion; when
they undertake to do things of this kind in Charles
ton, they do them as they ought 10 be done. What
ever their other failngs may be- smallness or sting
ness public guests is TO Re included in the list
of their hort.comings And people will be there
from all parts of the South and South west and per-
haps real good may result from the private in
terchange of feelings and opinions from the set
speeches in Conventions of course nobody expects any
thing practical.
And the boats of the Wilmington & Raleigh Rail-
road are to be offered at public sale 1t appears to
be very favorable occasion. We hope that lair
price may be obtained for them. The boats are i'll
fine ORDER and the state of his feet" reflects credit
upon Col Miller, the 8; Commodore " thereof.
Gs- In Connecticut and Rhode Island the Demo
Gratis have been defeated chiefly, if not wholly, by
coalition of the Wing and Abolition parties and the
cutlery raised against the South and the Nebraska
Bill Of this there b. no doubt,-nether is
there any in conceaing the fact that we regret
the occurrence of such state of things. 1t is too
evidently triumph of sectionalism-of abolition
feeling-of luminosity to the South, to be otherwise
than matter of regret to any not blinded by
; partizan opposition to the present Administration
f But, strange it may seem. we find Southern pa
pers and politicians exultng over it as defeat of
General Pierce whom they courteously and wittily
term g The Brigadier.'
Suppose, as they say, that the Administration is
chagrncd at the result in these States is not ma
turaI and right that it should be If General Fierce
and his cabinet sympathised with free soiism would
they not rather rejoice at its triumph than otherwise
But they do not. 1t is only blinded wing partzans al
the South who rejoice over such triumphs The great
body Of southern wings approve of such feel
ngs
But SO far the permanent interests of the Demo
cratic party are concerned these affairs amount tc
nothing. That one party came mighty near outuum
bering all the Isms opposed to it. They are transient
and will pass away; it is permanent and will vindi
cate itself and the Democratic Administration
aGas~ One of the most Jolly" papers in the uni
ted world is the Raleigh Register. Come what may
it always continues to receive the most cheering in
telligence from the West;' and even in adversely
this consolation does desertit. 1t keeps on re-
ceving until after the election Ii did when Mr.
: Manly was candidate; it did when Mr.. Kerr was
candidate; and now, when Mr. Dockery is can
ddate there no end (until Aueus) to the cheer