Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1855-10-11

now raging m Europe VIII continue OF
peace follow thefallS Of Sevastopof is a
question of very great interest to the
people. Of this country. If the wal
goes on. we may expect continuance
of high prices in prOvisions and bread
stufs, and a low range of prices in the
cotton market. II peace results we
may look for low prices for provisions
and high prices for cotton. We copy
the following well-calculated article on
this subject from the New York Ship
ping and Commercial List. paper OF
high standing as commercial authority.
1t will be seen that the writer regards
peace as probable:
The great event of the day is the re-
ported destruction Of Seyastopol. The
news came upon our people like a
thunder clap--for no matter how strong
might be the persuasion that the place
would be compelled to surrender, sooner
or later, but few were prepared to hear
of its accomplishment until another win
ter had come and gone. A circum-
stance of this character. naturally
enough. has touched joyous chord of
the British heart, which meets cordial
response throughout France. Both ma
tions appear to breathe deeper and
freer, not only that a painful problem is
solved, but because it's believed a most
formidable barrier to the restoration of
peace has been removed. 1t is, of
course, impossible to calculate the
course the Emperor of Russia will now
deem it prudent to pursue, because Rus
sia is a power sui generis among the
European nationalities, governed by
principles so entirely her own, and so
unlike the principles and policy by which
other countries are swayed, that we
cannot Judge what her determination
may be, in the new crisis, from that
which other governments would resolve
on, if similarly circumslanced. We
think, nevertheless, that the result must
tell powerfully for peace.
With Sevastopol in ashes, the power
of resistance TO the allies in Southern
Russia is gone, and though it is possible
still, within the province of the Gar.
to harrass hisopposers as long as they
remain in the Crimea. yet the enterprise
is one necessarily of SO bootless a char
acter that we doubt his inclination to
follow up that policy for any length of
time. Justly apprehensive of a renew
ed demonstration against his possessions
in the Baltic next spring--stimulated
by the brilliant success in the Black
Sea-we are prepared to hear of a dis
position to revive the Peace Conferences
at Vienna, which were so barren of re-
suits while the seige was in progress.
This hopeful view of the case, it may
be added, is very generally entertained
in diplomatic circles abroad. Should
nothing occur to disappoint it, we need
hardly add, the world at large will
gladly respond TO it. The interests of
commerce, and the yet higher interests
of humanity, have nothing to gain. but
everything to lose, in the future prose-
cution of hostilities. The time for the
renewal of peace propositions is en-
inently auspicious. Russia has lost
Sevastopol, but she, has saved her
honor; for nowhere in the annals of
ancient or modern history can be found |
brighter examples of heroism and valor
than those which her soldiers have al
ready displayed in its defense. The
allies too, by the destruction of the
place, are in a position to treat with I
Russia on much more liberal terms
than ever.
We conclude, therefore, that the
event is one eminently promotive of the
prospects of peace-and as such it may !
well be pronounced good news. Its
bouyant influence upon the business
world, in France and in England, it is
clear, has suffered abatement by reason
Of that advance on the rate of interest .
oy the Bank OF England, and a conse-
quent stringency in the money market
The inconvenience resulting from this
step, however, are not expected to be
very serious-indeed, if we place a
correct Interpretation upon the news
rom the seat of war, its general effect
lpon the. financial and commercial in
'erests of the country, will be such as
% induce the Bank to return to the old
-ates at an early day. Consols after :
advancing to Gig finally closed at 9Q8.