The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-02
The Expectations OF GoId-Enect Of the Eu-
ropeen War.

The Expectations OF Gold-Enect Of the Eu-
ropeen War.
The impression that we shall continue to ex-
port specie without regard to the condition OF
our foreign trade is gradually gaining ground.
The continuance of the war upon scale more
extensive than has yet been realized will make
it necessary for the governments Of Great Bril-
tain and France to obtain supplies of gold at
any cost, and fheir financial agents will natu-
rally look to our receipts from California to
meet that demand. 1t has been our clief for
some time that the outward movement Of gold
has not been entirely regulated by the laws of
trade. The Bank Of England is being steadily
and rapidly drained Of gold, and has been CON-
PEELED to raise the rate of interest to preserve
it's present supply. The Bank Of France has also
had its specie balance largely reduced, and but
for the importations from this side of the AT
lantic both Of these institutions would have
exhibited very small amount Of gold in their
vaults. The Crimea is the maelstrom that is
swallowing up the precious metals Of the three
great commercial nations Of the world; and 80
long as such an immense army has to be sus-
tanned in that region, so long must gold be
drawn from the natural channels Of commerce,
and serve to derange to greater or less ex-
tent the financial and commercial operations
of the three maritime Powers. Within our own
limits all the elements of prosperity are in
sound and healthy condition. We have added
hundreds of millions to our national wealth by
the crops which have just been secured, and
we are able to supply any foreign demand with
the raw material for food or raiment. So far
as this goes all is we'll, and we may for the
time benefit considerably by the abundance Of
food here and the scarcity in Europe; but it is
a question whether ultimately the position and
necessities of our best customers will not react
upon us and bring about arrangement and dis
tress within our own limits.
With all our resources; with the richness Of
our harvests with the enormous surplus we
possess of all the necessaries of life; with Cali
fornia at our back, yielding its three and four
millions Of gold per month, it remains to be seen
whether we shall escape the general depression
and prostration which sooner or later must
grow out Of the present European war. We
are certainly in position to feel it less than
either Of the commercial nations engaged, but
we may be sensibly affected by the absorption
of our specie and the withdrawal of the basis
upon which rests the prosperity of all our great
interests. We do not apprehend any immedi
ate difficulty in our local finances, for the rea-
son that our affairs are in such contracted
and healthy condition. The universal liqui-
dation of 1854 and the early part of 1855 has
been our salvation. Coming as it did at the
of the European war, it placed
us in position Of security as that war pro-
gressed. We are now comparatively safe, and
may escape with little loss; but had the present
position of things in Europe found us expand
ed and in the midst Of enormous speculations,
the effect would have been most disastrous. The
only way to prevent or mitigate the evils which
are about visiting our European customers, is
to confne our commercial operations, as much
as possible to the legitimate wants for con-
sumption, and leave all transactions partaking
of a speculative character to some future and
more propitious period.
This is not the time to launch out into ex-
travagant expenditures in any enterprise. The
future is too uncertain and too much burdened
with great events to give much encouragement
to speculation. 1t is the time for every one to
keep himself snug and easy, and strive to
DO safe and moderately profitable business,
instead of large and dangerous one, even if
attended with the prospect Of great returns.
Our security and the permanency Of our pre-
sent prosperity depend entirely upon steering
clear of all irregular and unusual entangle-
ments, and keeping ourselves prepared to
meet any contingency. 1t must be borne in
mind that hundreds of millions of our securi-
ties are held in Europe, and we know not how
soon the necessities of foreign holders may
deluge our markets with them. A large amount
of American stocks has already been returned.
and more must soon follow.
The News from Nicarsgua-Colonization OF
Central America.
The news from Central America brought by
the Star of the West gives new coloring to
the proceedings of Col. Kinney, Col. Walker,
and the other American citizens whose names
have been so often coupled of late with the
epithet of flibustero. 1t is not to be denied
that the narrative of the events of the first |
fortnight of September is calculated to leave
an impression on the mind very different from |
that which the names Of Kinney and Walker !
have been accustomed to produce. The former
has fulfilled his promises thus far to the letter.
He has pursued his purpose peaceably, re-
naming on good terms not only with the
State of Nicaragua, which officially recog-
,izes him, but likewise with the British yes
'els on the coast, and even the Nicaragua |
Transit Company. He has organized gov
on q sensible practical basis, an Is
sued an inaugural that will compare favorably
With many similar illusions from much higher
authorities in this country. One of his follow
RS has already given new and startling st-
nulus to the agriculture, while another has |
brought that great civilizer-the printing !
presto bear on the intelligence of the coun-
ny. From all sides, the story is that the Kin |