Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1855-11-03
From the New York Herald.
The Financial Crisis IN France and En-
gland-Position Of the United States.

'He Suh sHIutS UIIBHtly oU tUc CoiHHciCIaI
world, giving assurance of health and
prosperity. But no sooner do the clouds
OF war overhapg the political horison than
all settled rules of trade and all the occu-
pations OF men are changed. The coun-
ellis OF the two interests are entirely diff
ferent. Quacks are brought to the surface
exploded dogmas of political economy are
revived, expedients and devices are thrust
forward, in the vain hope of avertng the
penalties which war inflicts upon COM
merce, trade and general industry. The
public mind becomes feverlsh and sensi-
tive, dangers are felt but not fully com.
pretended. 1t is noteworthy fact
the fist scene in the drama of The present
war--that before the last gun had sounded
The trlumphs of the allied armies at Sebas-
topol-at the very time that England and
France had received positive assurance
that the great struggle in which they
were engaged could in no possible coptln-
gencJ be extended to the ocean-When
British and French com merce and manu-
features were assured that hey ond tho eff
fects of the withdrawal from those branch
es of industry of large means to carry on
the war, they could not be crippled or
paral yzed-at such moment something
like panic in the financial circles is
precipitated upon them
That tke war with Russia will put com.
merclal endurance to the seyerest test
is evident, from the fact that it will con-
tinue 10 Withdraw from the channels OF
trade vast sums Of money to carry on its
operations. 1t is new use for money,
new field for its employment. new men
are to distribute it. and an lmpericus and
| controlling law governs its collections and
disbursement-a law which overrides, and
to certain extent, repeats that under
| which the peaceful operations OF exchange
are conducted, and which makes all the
world party TO its influence. There are
many who argue that we in the United
States are exempt from ITS Effects, because
we ale producing naiion-a neutral
commercial community blessed with d
vast surplus produce, powerful enough to
| protect our rights aud wise enough to take
advantage of our position. We have
great means Of resistance, Of defence
against financial disasters oil the other
side of the water, but we have no abso-
late exemption. In the exact ratio that
we are connected by commercial ties with
England and France are we liable to the
effects Of financial revulslons and disasters
in those countries. We hold our share of
the precious metals Of the world by COM
mereia' tenures. Commerce is the great
| field of its employment; it settles the pro-
portions which each nation shall use: it
regulates lis exchange from one to another
and these ale laws by themselves wholly
lrrepeatabIe, and made to operate upon
all. Iae withdrawal of vast means. at
any given point Of the soid-its chan.
nels, creates vacuum. which..must.oe fill
ed BY contributions from other paris
Thus the United States stand related TO the
commercial state Of England and France
at the present time; and ;hus arc we la
bic to be affected by commercial revul-
sons and diseredits in those Countries
Our means OF defence are almost bound
less Never were our weapons in better
repair OF in more efficient operation.
During the week Just closed our exports
| chiefly breadstufis, from this city alone
amounted IN round numbers to So, 100 600
We sent flour to London, Liverpool, Glas-
gov, Havre, Marseilles, Cork. Constanii-
nople, Brennan. Hamburn, Dunkilk, Ant
werp, to British Guiana, to the Argentine
Republic, 10 the French West ladies,
British West Indies, British North Amer-
can Colonies, to Australia, and other
points OF the world. Upon all these coun.
tries the long guns our agriculture are
made to bear with marvellous effect. No
u v, of nia1 l.,oet.,r, .o( h.
great states ofthe world be likely to reach
us-but when we superadd to short crops
in England, France and Prussia, entailing
upon these countries the most serious en-
barrassments, the burdens of a war such as
that waged against Russia, the end of
which it is impossible TO divine-a war
whose necessities withdraw from the
channels of commerce very large proper
ton Of its means-which has carried up
interest at the rate of half per cent o
month-which has driven the bank of
Frahce already to the most miserable de-
vices 10 sustain its credit, devices and ex-
pedlents that have frightened It's depos.
tors into the Withdrawal Of their means
IRON It's vaults and which are likely to
lend to suspension of payments-wiih
all our resources and all our means OF de-
fence it is time 10 prepare for the worst.
The real burdens imposed upon En-
gland and France by the war are not mha,
weigh upon the financial interest of those
coun,riss-it is the vain effort os the banks
CT France to create, for brief period, all
artificial prosperity-a species Of false pre-
tenc. "a violation OF the plainest dictates
Of ecoUnmy, involving the sacrifice Of pub
lie nfiidence and of the true interests of
the bank and the whole trading commu-
nitv. Sue violations of the laws of bust
ness must III eyitably draw with them cor
responding penalties. The actual expen-
SEES of the war, so far, are nothing. The
average burdens imposed upon Great Brit
ain from 1890 to 1918, the latter part Of
the time in the N spoleon and American
wars, did not exceed 100000 per
year.
That Government, at the present mo.
ment, does not maintain an army very
much above its peace establishment;
and although its expenses have been in
creased, and the finances Of the country
greatly deranged its present embarr as
men,s result tar more from the unwise ex.
pedients adopted in Paris than from any
real difficulties connected with the resour-