The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-05-07

ne war IN .Eursps-zAs Fnsnssal xDssts.
The speech delivered BY Louis Napoleon In
reply to the address of the London Corpora
tion, suggests some reflections ON the value Of
the resources that will be brought to bear on
the decision Of the great contest in which the
leading European Powers are now engaged.
The French Emperor bases his hopes Of sue
cessful result as much on the superior dnaacial
and commercial wealth Of The allies as on the
tried valor OF their soldiers and sailors Let
us examine q little how far these hopes are well
founded.
A great war can only be carried on by the
unsparing use of both men and money. Money
is the dominating element of all wars and this
clement is the product OF commercial and ma
nufacturing industry. The Western Powers
possess two thirds Of the commercial and ma.
pufacturing resources Of Europe, and by the
aid Of these resources they may be enabled to
carry on the war for several years. As regards
supplies of men, their means are almost equally
formidable France can raise army after army
without difficulty, and even England, If put to
it, could raise large military contineents. The
allies will be, therefore, in all probability.
the attacking parties throughout this
conflict, whilst Russia will be compelled to
maintain q defensive attitude. The latter
Power possesses only fourth or fifth of the
material means Of her opponents; bat taking
into consideration her geographical position,
the vastness of her territories and her popula-
ton, the semi-barbarous and fanatical character
of her people, the unity of religious purpose
which animates them-(a condition analogous
to that of Europe at the period of the Cru
sades)-and the smaller expenditure to which
she will be put by contest carried on on her
own soil, we may regard the belligerents as
pretty equally matched. Success will Of course
attend upon that side which will be enabled to
endure this state Of things the longest, whether
It's means Of resistance be derived from physi-
cal or financial resources
But in specializing upon the probabilities Of
the war in reference to the nations engaged in
it, it becomes important to consider what effect
it will have upon the interests Of the rest of the
world, but more particularly upon those Of our
own country. A great war is q great process of
destruction. In five years the belligerents may
exhaust half generation of able bodied men,
and the accumulated fruits of thirty years in
dustry and savings. In the commencement Of
such conflict, before its conditions and proba-
BILE influences become apparent, the demand for
provisions and materiel for the supply of the
armies of the Western Powers may confer some
commercial advantages upon this and other
countries; but these advantages will be very
partial and bat of brief duration. Toe reac.
ton of monetary pressure in Europe which will
be brought about by the war, will soon more
than counterbalance any slight benefits that we
may derive from this source. As soon as Egg
land and France have exhausted all their dis
possible means, they will begin calling in the
debts due to them and as we are among their
largest debtors, we shall be the first to feel the
pressure Of the screw. The Immediate effect
of the exhaustion of the means at present at
the disposal of the allies will be the suspension
of specie payments in Europe. The same re-
suit followed close upon the commencement OF
the last Continental war. 1t is the inevitable
consequence Of belligerent Powers being COM
PEELED to pay in specie for the supplies which
they draw from other countries for the support
of the armies which they are obliged to keep
on foot. For this purpose The allied govern
ments will be under the necessity Of draining
the vaults of their banks of their gold, and of
resortiDg to paper currency for the transac.
ton of all business within their own limits.
In calling in, as they win be compelled to do,
the debts due them by the United States, they
will oblige us to pay them in gold and silver.
In the course of little time the effect of this
continual drain will be to undermine the ex.
tended currency of this country, numbering al
the present moment over eleven hu0dred banks
most of which are weak enough as it is. Thus
it will be seen, that although the first effect Of
the demand for breadstufs which has been
created by the war may benefit certain special
interests here, it can last for but brief season
and that should hostilities continue for any
considerable period, they must have most In
furious effect not only on our commercial rela
tions, but on all the home interests which are
now fourishing.
FORREST AND HIS CRITICs.-Mr. Forrest ha.
just concluded an engagement OF seven week:
at the Broadway theatre. 1t has been highly
successful, in the pecuniary sense of the word
and Mr.. Forrest has pocketed at least seven
thousand dollars as his share Of the receipts
He has, during this engagement, been bitterly
assailed in series of articles published in the
Tribune, which fact has caused public atten.
ton to be more particularly directed to his
performances. The main point aimed at by the
writer Of these critiques was to prove that