The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-20
APPROACHING FINANCIAL REVULSION.
THE COST AND EFFECT OF THE WAR.
probable Suspension of Specie Payments
in France anL England.
The EeeD QUESTION IN EUROPE.
&c. &c, A..
lFrom the isndon News (cl.y a,,Ie,., r.,

The Engsh rtDck mgset fcmsins heavy ,,,b.II..,
and closed y pew cent ower than ysrteriy Ancs an,
cisf hours, further decline of Per cent ,..s o,n w
saics on banking account, and Tor hr Bank ,isna \,
particular, are more actively continued mn g. thouys
dcy met to certain sxsent BY. the invesisurn,s
nepuhiic money was In increased demnnd ronsoss
day. This rate howr,er Inducing supply 81 m scS 4.
hecsnc casier in the afternoon Tho drain Of s,3a 10
Paris on account q ths linnl o, frar. continues and
the bulk q this q - believed was quot drawn ecuy
nom the bank Of iHsssnd Owing 10 tho continuance
this remarkable eux In face ~ decidedly improving ~
esr The .. relieved by liberal arrival 81 sad
from Australia the .nk Of England usy md itself co-
PEELED 10 adopt adihonaI r<easurcs of rcstrctssu
This tice consired % D, ,eg.Arnoi " N fncyossrc
atpca0a rsolrni Ihs proprisy ofcau,on this dr.o-
tion 10 strongly nte by te ~ ,riras ras
Irt gaining g,onnd ~ thai c,y iksnk Of Esunce
contemplate Doubling "a pves. apat N o. 900 900 fyasc<
taps for making no,, of es Boair sor.rnmsm rap-r
e, 10 trgndramopf ty tn gor~rnss~i, bw M 6ask u
A this proposal howevo, al sgui.ci would impIy ie
gaaed hircon'inuance of cash payments by the bank
shment, gunrnn'eekt they might te 10 a,srourt
there mn unwlingncss Asfe y believe tue report
has any vsd foundati,n At the tim, conadsa.e
In the financial wisdom os the French govcrument IA ne,
very strong and s further weakened b, the ,mmuniy a
parliamentary control and discussion According u
the lat published return olthe ank q France the
and bullion stood at only Ill $40 s0a ~ht the notes in
circulation had Increased To 40 bbs 30
tfrcm the Iondoi Economist, Oct. al
But from what does adverse e,ci ngr ariscf First
W. must look for the ~ pcnistarc al
not alone TO that portion ofh which sent abroad tho
shape Of bullion 80 make penente the var bet
TO the entire expenditure shchsr home abroad N
excess Of our ordinary expenditure r suoh objects.
the money required for expenditure has been raA
frrt then In regard to the expenditure iselg Fs~
those services the vos.d In ordinary years may be
taken COO For Tho present year tho SUN vot~t
Ia round numbers 10 90 o. about fss OoO Ooe
IN escess q The ordinary anu Not word need DO sait
iu1iuN Ina I..l ..xAs
Of the hard cash sent abroad 70 repcnab from ums
to time the commssariat chests. During the present
taken for that pnrro.e But there 4 another c,AA1
Of expenditure which, though lee. directly, ".
lead. TO drain: Al cen'rsrts In the tAsi fs'
provisions rrosenier and whatever else IA required r
sury which have 10 b~ provided for, in ambition
ordinary bills drawn asnat inports,ioss they, hog
aiiec, tho exchangrs asc,, and ina.rce,iy tho drain.
from the bank, mSsh u hard coin remitss<.
eissa q transactions which squi lily In poin, ast
when closely examined ssi in pro iueing ADVERSE GA
home on nccount OF the war udiDg powder sn,fnu-
on arms, rrovissone, elothHg shipping (ife OF trans
the war is ssn.as ts,io asa "l .hps that ,Ss
mere iaot Of thesp niicssa srg proineea hone
barsrs a.d ap.hs s ." p'ys," ,,ns 1ss s,sss ga, !, "a
merchants and nanufAeu sern AT home, Ia 10 do
gie. gs a,sr' - sneet hich sueh an espenai,are
ana hunh shly nsota ~ exert upon The fotcays
exchanges. Va cannot better illustrate this state.
meni thnn ~ represent all these eommDaea
ports Ter whsA here VI Il be corresponding imports,
= M1 ta1s ~ " 'ss annually eypgfed srS tairty
yo,fy "hils''a NAM gaar,' and roeiroi ao,ssa1 IN
gooas IN ihs form of wages Of raw nateris ana II cal,
ia oihess.s Exp" ,ded upon them Il all restored "
imports 1ithsr In reduce In bullion, ~ biis
pieseuii,1tss ono other Tins the
hsi.neaS ~tscen is and other natoua Bot In The
o goods r~ueed Tor the prosecution n tho var vhas
The sa'nn anoans Of foreign commodities In the asg~ a
=" ans az ma sriai 10 consane hey arr not regss-
.d ~ fr.ah I'm poris,ions and must therefore 70 th-~
ial aalsiai snf vau. swell the adverse slis of the
ehanSr se9onT and sooner or Later be ras for IN bull
Ion nay therefore, IN point q fact, be sAii that
the shsie ar "a additional eRpenti,urs,
ssax ." 'Af trade Ia eoneeFnsd unprcdactiss, ana
Ire form 'n m,,a,lss ss" mus. o.ss} 2 Or S's,@ i,S,
~ aSht V the wrong siie ., our account ~iik
chsAss 'or In this case Ia thsi ~ sstfsyassnt
p2tsn0s such ios place t~e years ago Aas,rsla
SUD we United states ~ which eonsaaefabs affasg.
aD"n. oa the mopsy make, caused the re,rns
.sf.J deferred 10 distant day; tia contrary the
g.sS and The money exported actually eensulne-i.
aas u be heard Of no more. In ,h. ngsi race ihs
insse In which the expenditure II the year has teen
rasse has another dIfee, lanosuos upon s nony
apDf tho money msrkc. and the exchanges thsfe l. al
~ difference whether war expenditure 10 dA-n ira.
~ .esof the community rpeBaitare Il dra sn fom
creased tasss produces eo,fesposa'ng ssonony In
her ~ays II fftssn millions sieflins b. bs drawn
fom thirty millions q people a. ihs rate u iDs head
so far as regards the great bulk Of tho thirty millions
e.n"tonaaf economy will ,e masa 10 thu oon.sp,os
upon the -ar -oad b. not Alfi,l0aaI efpssai-
tnfe but uhnsfef 81 u from ohJsci 10 asossr-st
would Ia point n fsct out ~ Income a rule,
i.Aing the place n other expenditure. and voaf ND
herere crate adverse bsano. against ,hs eqsn,sy
Bot When uar snpcndi'afo 10 ssDplleS by o.aa, 3.
draws directly rcm the oney ihe csrsisl devoted
70 f..s through the hanis Of bsnisf. bi
upon the narset and reduces the available tssnkss NJ
oihsr parposes. II .. In reality ognsgnptlin fsg, In
vesnsn - far a. the nation ls conesnsi u ia espAi
and, in place u hing s,tends -iih any corresplnr
ooen0my rather tsnds 10 incrssss ans pforsss ,hs
consumption of eonnoas. W the temporary stnaalss
4 NbicA TIE expenditure much o f4taf- In
| saSnhn 70 NE ordinary lneorns create. ~ toe
millions IN b rsssd b. ksn. AMI The rss, ~ ,4I.
pon - therefore c's.r that the si,srss srehsaw~s
rLss, are 70 ;. n.ssa sa,issly . as s.t .rssai,.
tsIe, and 10 NJ = esnmerslsi ssa ei MS
dealing With a. In ordinary sasss ~ csss i sinapr IN
fseii u fsni 10 The nststst reaction r1n srdss.vs
.,ssssils. ,ii.a ~ yss seasiy asgs.a rs.',.s.lns
ssndi,ars 10 u p.Ssnsonnt ingSyisn0e Al oiLss
.ssrsilon. .hsshsr ttay sd eiel.4ass, = = ssss.
ire, .hsA - Say, lsssa shiesJ ss,nx spa NJ
-m bs meaInsa a. =. hiss yrsss "a, lsasss "
greater eeonorny q pobs4pfios And = bss-ssAsy "
tor. 10 Trsnes lnsss,sa - "a ton r-.rssss
symps;biss 9Th sseh ptAst sina<ly sis, vnss
~ aes,i ~ arg sui,sS 4 yass fsaa Aassr.is.
l ssd Cslfsf-As viI trG ~ fses4ify ns sn<<ts 70
J, % me-, !. srs. ~ s4sa ,l., T cslasa r'ess,-s
~. ssy s.hs es.'s'SaJ y rspss.ssiAx ~ .spt.,
balance l~,sssn s oosnsfy ln4 freivn naslocs sse,s
A. y Sepos % 30 tskss 20 tbe bsns IN dsssst
fsmsss asass-n Esy ~ assss hHw 4 haps~as ,Aa
su .tf~n1'ufs h&3 gsDt ca tr @Ay ysAf bsyfs usss
sass's tsSse - " sissts Ths pin. Bfs.
asriny ihs vAss a 1854 sss a.s s-ssaslAs iss, .
aEsnnsr d tsibor i-t plaes ia synssns q 80 ess~~s
sstorS 70 Assssss sDi sAsfnA. q 1924 sDi ISL -
end, aastns The vhss> a is:a nj h srs ta' aosfhs
a lAs sks rhs psf, ~ ihs sfTsrisFs 80 d~ssv~s
fTo1s fsss~ snd ani this1, tAs stp~nM
isse q ne r.sss. yssr = - "a f.'s = fsty - .s
se.k<cas sAssss-s ths SseSsN. sE& tinssay pre-
sxstions ~ TIE bsak NAY - - fsrffgttg ihs p~~sus
,ssk, A~-.ngsu.st h sgl - 80. has ~ shoa1 IN re-
hssre@ of~ysisns q sgealAss n2tafs, h~sr
In rnind h&s the rssi q ihs stsr~ e1ehans~ sDi
l tls ssr.sssni sysgn q s@ion 4 stIIi uutes1~a@f
ts0ugh by aAusln .p tsssht - altlmss@ csnssts~r
| coo tssy IL rfesnr rees81.1
| fyross M i1pdos cbfasisAs fsisy srikis nsf
1hs srrvsls y no rrscAe.s s@sas 10 sgrlsss assiAx