Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1855-02-02

under whatever name, be put at the head of the
army. If there ever was ministry that had its
path open for such it is the present,
which put off the war long as it could, even
against the unanimous voice of the people, calling to
arms Government surely has the game in its own
hands, and is bound by no respect of persons. All
that is wanted is that moral courage, without which
neither great armies, nor good causes, nor powerful
empires, can be saved"
The Shipping Interest. -..
One of the most unwelcome features of the stag.
nation, which pervades almost every channel of COM
merca enterprise throughout the country, is the
markable depression of the Shipping interest," in
teres probably closely connected with the pro-
gress and prosperity OF the nation ct large. than any
other could The supply of tonnage is
greatly in excess of the demand not only here but at
every other port in the United States. And, not
wthstanding the high prices of nearly all materials
entering into the construction of Shipping, lis value
has undergone material depreciation within the past
year. fact especially demonstrated in the low prices
at which many vessels have recently changed hands
here and elsewhere. We are informed that there are
large number of vessels, in the Ship building
districts of the Eastern States laid for lack of en-
ployment and waiting in proitess inactivity the re-
turn of better times. These vessels held chiefly
on builders account. We cannot learn that any con-
siderable number of kees for new vessels are laid in
any section of the Country Indeed the business, so
far as this port is concerned NAV be said to be AT
stand, the little there is doing, having reference
mainly, to the fuhlment of old contracts The cur.
rent rates of freight barely sufficient to deray
positive and incidental sailing expenses The Euro
pean war has heen principe and controlling agen-
cy in producing these embarrassments. We have
ships than needed to convey the freight Of
fering from this Country TO Europe, or elsewhere
Great Britain also-it would appear from the official
statistics of the last monthhas also several thous-
ands of tons much in the predicament and this
too, Notwithstanding the vast number of vessels with
HroNU from fhn Rhnof
munitions OF 10 the distant ports of the Black Sea-
The truth is the trade of the principal maritime ma
tons OF the world has witnessed substantial and
progressive Curtalmen within the past year or two
The reaction which followed overtrading in Cafor-
MIA and Australia, deprived large number of vessels
OF trade for which they had been expressly built
The Russian war, it was confidently anticipated by
sagaclOuS business men, would inure TO our benoft.
The United States would monopolize the carving
trade OF the world, to transport not only cur own
products 10 Eoreg markets, bu to supply ships to all
the belgerant powers for the conveyance of their pro-
ducts. SO real and tangible seemed this great boom
that even the government prOvidenty and to obviae
all possible misunderstanding and misinterpreations
took measures TO have determined that vexed question
OF international law, the rights of neutrals
Wars have taken place heretofore between the
maritime States OF Europe have invariably benefited
the carrying trade Of this Country and had circum-
stances attending the present war been analogous
the same result would, in all probability have ensu-
Gu Dut All dHtlCpatlOnS OF our being benefited,
have turned out to be unreal and fallacious The
horrors OF war have proved to be disastrous TO all A.
merlCan interests, remote well as proximate Far
off from the strife and out of harms way we are suf.
erlng severely from the struggle which is now going
on between the belligerent powers The war has
damaged and distracted all our commercial relations
affected unfavorabIy, the price of our securities,
drained OF our specie, added to general embar-
rassments, and been attended with no compensating
results
eight mouths, has put end to tho carrying trade
of that region. Ii is very American vessels never
enjoyed very extensive commerce there but then
inasmuch as British, German, Danish, Swedish, and
other bottoms which found lucrative employment in
Russian trade prior to The blockade, have all been
Withdrawn since, and added to the surplus Shipping
upon the market at large, it may reasonably be sup
posed that influence has been exercised against
the interest on this side of the Atlanic.
How long the present depression is destined to last
it is difficult TO ccnj njecture-but much depends upon
the turn OF the abroad If peace soon succeed
revival must soon follow-f the war is to 90 on all
speculations to this end likely to be PREMATURE
AT present. our business with California and Austria
liza is very light, with no present probability of an
early revival We have here the kew, we think to
one of the leading causes of the present hard times
Millions and millions of money are locked up in the
ruinous inaction which parayzes mercantile ma
rine-mons that yield just average of less
than six per cent There many other branch
eS OF Udue depenueht upon tnlS important branch OF
domestic enterprise, that wheneve- it suffers serious
depression, that depression invariably reacts upon an
in6nude Of minor interests, and thus too often all
suffer in common.
We trust and believe that ere long things in this
respect will take turn for the better Our ships are
not always to be rotting at the docks, nor tapping
their canvas the ocean, on terms that hardly in
demnify the owners. Whatever may be The revu-
sons in store for the Old World resulting from the
contentious CT Governments there, the new fields of
commerce constantly opening in the New World
especially the New World on the Pacic-bid US look
hopingly forward to more propitious seasons than
those we are temporarily. We trust, fallen upon now
N Y. Shipping Last
ONE OF THE Know -NorH1NG VIcroRIEs-The fol-
lowing paragraph, with the customary preliminary
flourish of the exultation going the rounds of the
know Nothing organs:
know NoTH1NG VIcToRY.--We are informed that
at election yesterday at Fairfax Courthouse Vir-
ginia the know nothing candidate for commissioner
of the revenue, for that county, beat his antknow-
nothing opponent more than four votes to one."
A correspondent al Fairfax Courthouse, Virginia,
after calling attention 10 the above proceeds as
follows:
This is really very encouraging 10 the brethren
abroad, and has perhaps been copied into all papers
friendly to the cause evidence of the strength of
know .notbingsm in Virginia. The facts are briefly
these special election was held in the county on
the II til instan for commissioner OF the revenue.
The candidates were John B. Hunter, an old-line
whig but anti know nothing, and ]. r. Ratclife a
know nothing whig The number of votes polEed was
617-Hunter receiving 368 and Ratclife 249, and
Hunters majority over his know nothing opponent
,ll9 So much for the know. nothing victory, and
so much for truth 1t is stated by the know notbings
here and perhaps truly, that Ratcliffe not
gularly nominated candidates. but it is nevertheless