Daily Davenport gazette. [volume] (Davenport, Iowa) 1854-1855, 1855-10-22

49,
in the news bRsnsht BY the Atlantic, arsth
advance Of the rates ofinterest by the bank
Of England, and the high spirits which seem
10 be kept up BY the Russians.
The actions Of such . moneyed institu-
ton q the bask Of Englapd have very
great influence on the ordinary transactions
or capitalists and business men generally
even in. . time Of peace. bat in a state of
war, the movement Of the bank may ma
t~esially affect the operations Of the Govern
mcnt. In the prosecution Of war. money is
the article Of the 6rst importance. An
abundance Of that procures On abundance
Of every thiag else. whether Of men or
nunitions, and in the Present perfection of
ell warlike apparatus. the party which can
raise the greatest amount Of available
fsads, i The most likely to secure an even
tual triumph. 1t 10 the opinion Of some that
The bank Of England is preparing to stand
. run sgainst its assets. and it 10 not i'm
probshl e that the contemplation Of the large
sums Of specie which are certain to be sent
to this country in payment for bresdstuffs,
has induced the officers Of the bank to pre-
pare in time for the worst possible effects
Of the probable financial crisis. Total and
long-continued suspensions Of specie pay
menis are not unknown in iheshistory Of
that Institution, but nothing less than the
mcst memorable necessity could force a
repetition Of such Il sxpedient, and its
adoption in the present state of the monetary
and political would be productive ofthe most
disastsoss consequences TO the Interests of
Great Britain. It would be the loss Of a pre-
stige more important than that of Temporal
~ success in the Geld, inasmuch as the OBJ
stacles to its re-acq uisition would be Of more
difficult removal. We do no, say that the
recent action Of the bank indicates a resort
TO such desperate extremities. but The ten
denotes are in that direction, and the manu-
featuring and commercial operations of the
British people are so intimately connected
with the condition Of the bank, that any de-
ransement in the workings Of that central
organ, p~ropagates itself through every chan
mel of business.
The encouraging words used by the Gar
and his Generals when addressing the Rus
sian soldiers. are not only evidences of forth
tude in sdversisy. but are pretty cure indi-
cations Of the indefinite continuance of the
struggle. Gortschakoff rather congraiulates
his troops on their being no longer cooped
up in a fortress, and however experience
may have shown that the Russians cannot
match the French and English in the open
field. their courage does not sppear to be in
the least ~dsmpedby their reverses.
From the remainder of the continent, the
All .ntic brings no information Of much i'm
portance. Nothing further is said about
Austria or her intentions, and we presume
the issue is not yet sufficiently developed
to influence her willy ministers to the as
sumption of a decisive and plain position.
Mazzini. Kossuth and Ledru Rollin have
issued q joint appeal to the people ofPoland
snd Southern Europe, and it YVES said that
the Its lians we're sgain trying to organize
agenersl instruction against, the power of
Austria. But as yet the game would appear
to be completely in the hands Of the greater
powers, and the mass Of the people will have
to wait for more favorable opportun ties for
vindicating and acquiring those rights which
were solemnly promised them BY the sover-
eigns Of Europe at the time ofshe overthrow
Of the fret Napoleon, but which promises
have been most shamefully and persistently
repudistee both by those sovsreigns and
their SUCCESSORS.