Washington sentinel. [volume] (City of Washington [D.C.]) 1853-1856, 1855-05-26


VIII be, no human ken can foresee, as in its pro-
gress, no man can tell what other parties may be
involved in the vortex of this fierce struggle.
Conhning our speculations to some Of the ne
cessary results Of this war, supposing il to be
confined TO the parties now actually engaged, we
have abundant cause for serious and cautious con-
sideratioh. --as-.--a
We have in the first place the disarrangement
OF trade, by which many branches of industry
fnd themselves more or less crcumscribed
These branches of trade are precisely those which
have perpetual demand, TO greater or less ex-
tent, and minister to the wealth and comfort of a
nation BY being exchanged for bullion, or for
commodities necessary for the convenience of the
nation exporting them To the extent, there
fore, of the contraction of these vendables or ex
portable articles, are the capacities of those ma
tons to purchase, lessened
On the other hand the prodigious expenditures
Tor the purposes Of war; the whole receipts for the
whole OF these immense expenditures are wasted
IN the war without the acquisition to the nation
OF one dollar in return for all the materials fur
nished, and all the pay for services rendered At
the expiration of the war, supposing il will have
lasted for only three years, it viii be found that
Of all the consideration received for the expendi-
lures of some eight hundred to two thousand
millions of dollars which will have been spent,
dollar of value can be shown to be then
in hand.
What are the considerations which will have
been received, The munitions Of war, all of
which have been wasted in the war itself The
pay OF the armies and navies, the whole of that
will have beenspent. Freight on munitions wasted,
on the army of men and horses sent to the fields of
action, and the passage home for such as sur
vlve-that expenditure is dead loss The ex-
pense OF fitting out the enormous fleets the active
service in which the fleets engage, will reduce
them at the end Of the war to condition no better
than before the war-this expenditure brings no
Proht to the nation, but, by monopolizing seamen,
imposes heavy burden upon the commercial
marine. We will not speak of the impoversh-
ment OF the half million, aye, million of bereaved
families, which must become greater or less
burden; but we viii mention that item of ex-
penditure which follows a war, and is as much
portion of its cost and burden as any other; we
ailude to the payments Of pensions.
In the midst of these nations an extreme and
unhealthy stimulant is applied to certain branches
OF trade, which become, literally, bloated with
seeming prosperity, but, in truth, are air blown,
and the puncture which peace applies demon
strates the insubstantiality. This must be APP
parent from the fact, that most extensive, ex-
pensve arrangements have to be made to meet
the demands for articles Of war. Peace suddenly
takes away several hundred millions of dollars
from the support Of these parties collapse
must ensue, and they fall to degree of inca
pacity greater even than the average condition of
other branches Though the whole nation be-
comes incapable of purchasing until foreign de-
mand shall have given vigor to the languishing
trades, the conclusion which must ensue on
the occurrence of peace will crush in financial
ruin many who aattered themselves they were
beyond the reach of harm
We have, in the foregoing, briefly foreshadow-
ed the result, placing it foremost in our remarks,
that the reader, bearing il in mind, can the bet
ter work out the problems we may suggest.
The enormous issues of paper circulation
thrown out as additional currency, should have,
for a corresponding basis, all the bullion in the
world Soon the ratio Of bullion on hand. in
those countries to the circulation, must fall to an
insignificant haction-the circulation exceeding
by very many-fold the amount of bullion
Win these nations seek to riden their bullion
bases in proportion 10 their aug,aeating circulation
Can these nations do so by calling in from all
| quarters the debts due TO them
II they can and will, then they would 80 drain
other nations as to incapacitate them from pur-
chasing of themselves, and thus would the evils
of war be aggravated to bellgerents by an almost
total cessation Of demand for their commodities.
To what extent can those nations drain us OF
our specie, if so disposed; Who can tell Who
will tell
The rate Of exchange shows their power to
drain us has not yet been exhausted. Until il be
known how much more they and will draw,
the money holders of this country are compelled
TO bold wary course.
Whenever the power to drain us is exhausted
we shall for a season be beyond harms reach, as
during the war we shall probably be able to make
our exports equal our imports With an assn
will become abundant and cheap.
Then comes the danger of wild, widespread
ing speculation, acting upon the supposition that
this inordinate outflow Of circulation by these
countries, occasions stable oundaton-specula-
ton will go on building up gigantic schemes Of
operation, which must inevitably explode with
returning peace.
Let people look sharply into what schemes they
enter, whether they be Of the character Of those
which have unfailing and enduring demand, or
are engendered and stimulated by the album
dance Of money and fictitious or ephemeral ex-
istence by the adventtious circumstances Of the
war in Europe.
We have not space TO say more to-day, and
may again refer to these subjects Of war and
finance. Our people too much in the habit
Of leaving these matters exclusively TO the con-
sideration Of monsyed men--they interest all
alike, and every intelligent man should consider
the fi,,,E ,,l A..