The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-09
The Effects Of the European War upon
American Trade and Commerce.

American Trade ana Commerce
Before war was declared by France and Eng
land against Russia many speculations were
INDUCED in by business men regarding the
probable results of such war upon American
commercial and other interests.
Some said that it would greatly benefit
American shipping, as it would cause its in
creased employment in the carrying trade
Others supposed that our agricultural interest
would be greatly benefited by the increased
demand it would create for our breadstufs and
provisions. Others again, said that it would
help our securities in the end; because, should
the war become general in Europe Europeans
would send their money to this side for safe
investment and at higher rates of interest. To
these favorable aspects of the question was ad
ded the theory that the demand for our great
staple cotton, in Europe would be little inter-
fered with, especially in England and France,
as their trade with all the commercial ports on
the Atlantic and Pacific would remain open to
them--leaving only the Russian ports of the
Baltic and Black Sea closed against them.
There were not wanting others, however, who
looked at the bearing of the war upon the in
terests of this country in an opposite point Of
view They argued that no great disturbance
of the social elements Of trade by war could
happen among the citizens of the most ad-
vanced nations of Europe without its effects
being extended to this country--that the de-
rangement of one portion of the commercial
compact of nations would disturb the whole
that the war would lead to large loans at adj
vanced rates of interest, which would induce
their own citizens to invest in them, instead Of
foreign securities-that trade and revenue
would fall off with the Allies, the taxes be in
creased and money rendered scarce aud high
that the trade with the United States would
be lessened, while the agricultural and ship
ping interests would receive no permanent
benefit, and our trade with Russia, like that Of
France and England with her, be cut off.
So far as the war has progressed neither set
of opinions have been fully sustained. Like
most other extremes the truth has existed be-
tween them. During the first year of the war
in 1864, though a bad crop year, neither
breadstuffs nor provisions underwent any mate
rial change in prices until late in the first
quarter of 1855; and the shipping interest was
dull the whole of 1854 and until late in the
summer of 1855, with scare ely precedent
in its history. This autumn, after the war has
existed for over twelve months, with the largest
crop hitherto made in the country, we find
there is great demand at high rates for
breadstuffs, with great rise also in the rates
Of freights. The effects Of the war upon our
money interest have been less deleterous than
had been anticipated by one party, and not so
favorable as predicted by the other.
When it became apparent that war would
ensue, there was a rush made by spectators
for Russian articles of commensurate as tai
low, hemp, iron, bristles, &C., which were free
ly bought up and held for higher prices. But
the result to many Of them proved less favora-
BILE than was then anticipated, for it was soon
found that those articles continued to find an
outlet from Russia through Prussian ports be-
ing conveyed hther by land transportation,
and That their prices were to some extent, kept
down, even in English and French markets. as
well as in the United States. Although the
advance in Russian articles Of export since the
war began, has been large, yet it has not been
equal TO what many operators expected
To show how far the prevailing war has az
iected prices in this market we submit the au
nexed table which gives them on the Cd No
rember, 1853, before the war, and on the "a
of November, 1855, year after the declara-
an ~