The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-02-03

Ae leading journal OF Europe take the
trouble to interpret that speech Of lord Cla-
rendon's and that other speech of the French
Emperor's delivered only the other day,
in which the orators officially declared their
readiness to use their Combination for the pur-
pose o1 effecang their ends in America as well
as in Europe. If it can, with all the superior
ability Of which it boasts, give such coloring
to these manifeAoes as divests them Of all hos
tile import to this country, it will do far more
towards awakening American sympathy than
it can by appealing to the interests Of the cot
ton growers Of the South or the corn planters
Of the West.
AS to the opinions expressed by the Ameri-
can press with respect to the war, and its con-
sequences upon the state of Europe as the
Times says, these are matters of opinion on
which it is hardly likely that we shall agree
with the Western Powers. They are naturally
enough much heated in their quarrel; sore at
the failure of their invasion of the Crimea aud
irritated at finding Russia considerably strong
er and more resolute than they expected.
Mems opinions are always more or less the
fruit of their hopes and wishes and hence the
British opinion that the peace of the world re-
quires the defeat of the Gear. We, who have
not sent out soldiers to perish in the Crimea,
and have not plunged into costly and despe-
rate wars, take somewhat calmer and more
dispassionate view of the subject, and do not
| discover the immediate connection between
Lord Raglan's defeat, and the destruction
| Of liberty in Europe. Bound, moreover, by ira
ditional theories, Great Britain, like oil the
| other European Powers, believes in what is
called balance of power, and lives in perpe-
tual agony lest the alteration Of some existing
landmark should lead to the humiliation of oil
the present European nationalities by some
0vergrown monster. We, who look at these
matters without the benefit of tradition, are
sceptics in this affair of the balance of power,
and do not believe that any danger Of universal
sovereignty exists. We think that Napoleon
ought to have learnt from his own experience
how impossible 1t is to unite several distinct and
hostile nations under one government; and
should have known better than to fear that Eu-
rope would ever become Cossack. Looking at
these turmoils through an unprejudiced medium,
and by the light of history, we regard the ex-
tension of Russian power in the direction OF
Turkey as far more pregnant with danger to
the Russians than to the Western Powers of
Europe. The possession of Constantinople
might render Russia great Asiatic Power; but
could not in our opinion, increase her strength
in Europe. We have more faith in the English
and French than they seem to have in them
selves. Something must be allowed for their
present detection; but even were Lord Raglan
cut off with all his army, we should not be
prepared to expect Cossack conquest Of Eng
land or France.
Mr.. ST.. JOHN AND THE BANK DEPARTMENT.
1t is proposed in the New York Senate to re-
move the Banking Department from Albany to
New York In connection with this change 1t
Is understood that the present Banking Super
intendent, Mr.. D. B. St. John will not be reap
pointed, but that the Office will be conferred
upon new man.. Both of these measures COM
mend themselves to public favor.
The location Of the Banking Department at
Albany is mistake. The day it was made
separate department it should have been re-
moved to New York. where three-fourths of the
banking business of the Union is done. The in
convenience which has already been felt in
sending or travelling to Albany whenever it
WIS necessary to do business with the Banking
Department can hardly be exaggerated and
occasionally actual injury has been suffered
BY noteholders in consequence. 1t has fire.
quently happened within the past two years
that securities-especially mortgages-have
been sold by order of the Bank Superintendent
at Albapy-Where there was no one to buy
for considerably less than the price they COM
manded here, and for less than the amount
they were pledged to secure It is quite Dos
sible that it would be inconvenient for the
Bank Superintendent to send securities to New
York for sale but is it not obvious that place
where the business OF the depar tnent cannot be
carried on without loss 20 the public, is not q
suitable place to have it located? Hereafter
when the local jealousies which cause so much
inconvenience to the merchants of New York
have disappeared, it will appear incredible that
so ridiculous an arrangement should have sub.
sisted for four years
Whatever may be done with the department
however, Mr.. St. JOHNS removal is matter of
imperative necessity. If that gentleman had
been The best of public officers, aud the ablest
Of Bank Superintendent, it would still be pro-
per that he should be removed, ia order to es-
tablish the wholesome system of rotation in Of
fee. He has already served one year over the
period for which he was elected, and it is time
that he should be replaced. He has at presen.
something like twenty six millions of securities
ofvarious kinds in bis hands and under his On
troll, including twenty millions of stocks stand
ing in bis name. Over these securities no one has
any control but himself Even the Legislature
does not look deeper than the repor. which he