New-York daily tribune., 1856-08-29
THK STATE OF EUROPE

vnweYV
H. fortress Of KsIs, roused the d'P'omAcy OIL tae
A,hea Austria made strong pooteststion, an
Io,d Palmer.ton sent orders TO Admiral Lions for
.,soatebps Hotilla Of gun.boats to the Black Sea.
The Car, seeing that the Powers are 10 sarnes.,
imme,i.tely explained away al the differences,
ard bas WITHDRAWN his troops from the Serpenis
Islasd. and intmated to the Turks that he is
ready to give up Ears.
The Italian question, seemingly abandoned by
the Western Powers, will soon revive, probably
within the next two months; a. any rate, It IL
significant that The Times continues TO copy the
letters of Mszzni in very prominent place, OF
course commenting upon them ia the Piedmoutese
spirit. This publication would be inexpicaoIe
had Lord Palmerston not In view TO alarm the
Princes of Italy, since the appeals OF tue Italian
Asu.tor cannot fail TO get acoitiona weight oy
Aeipe circulated by the most Important of all Eu-
ropean pspers.
In Depmark the question of the nationality OF
the Dschies has been again stirred up by austria
the rsh,s of the German Confederation upon
Holsteln and Lunenburg being insisted upon; ac-
oordit Civ, the schemes Of Danish "nnycdtton
msy soon come an un imely end
The commercial prosperity OF all the countries o
the CIV zed world being iut mately connected with
the financial soupdnts ss of toe three great ceDters
of Commerce-EnelaId, France, aud the United
States, ckless sprt of speculation gett ng mold
of either Of these centers may involve millions and
millions If men in hopeless ruin, If they do no;
for, zee the inevitable bursting of the bubble This
is the reason why again return 70 the topic of
French speculation which sooner or later mast
lead to panic. The Morning Star of last week
contains an excellent letter of an Anglo French
mercbsnt, which is too important not to be commu
nicated to you. He says:
when the Emperor Of the French determn ed upon
the Russiau var, wi the full knowledge ttdt was
not popular ~ah The French people, he tod The Ia ter
that fthey would contribute tue men, he would CD irge
pn postsriiy the bill of expenses. Forth they Went
upon this uDd rstaDoing ana true to his word the Em
peIor lsauched lis eel. bra'ed Oans passing by the
n. at contractors and off rpg he TenhS by retail to
the Whole pepula' ion # France. Nov the vel known
evil Of raising money for wars wholly by Dams ls
tbis-tbat you leave the community under the
treted in the enjoyment CT their incomes in the
emplo, meut of their capitals. Where the money
lev ed by taxes, each man feels that he has less
TO spend, and curtoils at once his outgoligs and
thus meets by biz savngs the exgencies Of the State
Bat rot only did the Emp.ro policy net have this
IF Ct but by spreading the loans over every commIne
of FraIce he oroktd spirit Of speculation and gamb
ing throughout the trhOe population, and generated
Aa,qts Of ideness and ertrordgance Wh'ch led for
fiue 10 greoer ependtture and Investment of capital
Man had been knoacn 6etore. Thus during the
whole Of last year, while the Government of france
required thirty to forty millions tering for ex-
tiso dinary expenses, the people were in their indi-
vidusl capacities competing for the meals OF In
dugirg uhwOnted outlays 10 similar or eV great
ar extent. Now there is h thing in this matter
of fact world of finance drawing bl upoa posterty
getting it discounted in that quarter. All that can
be done TO raise the amount way or another
out Of the e1istirg wealth of society an1 charge the
interest upon f generations This process ed to
a rapid exhaustion Of the 'ating capital Of France
dung the pact year, and especially felt upon that
most portable available form OF capita, the pre-
cous metals which underwent so rapid an abstraction
that the Bank of France resored TO desperate DEVICE
never, we believe, systematically acted up m before,
OF buying back specie from abroad, against the natur
al CURE OF the exchange, aud u al enormous saT-
hce TO the establishment In its last years ,nnual re-
port is a6mitteo nat than ESQ 900 had beea
extended their OPT rations and staer from tie
subsequent monthly returns that the process has been
gong to much greater an exteIt, that has cost
abe Bank during the present year up to this time an
additional sum Of more than E20O,oOO. The amount
of specie thus CRITICALLY at raced to Paris i. not
kLOwn with any accuracy, hut there can be 10 doubt
that ranges between ten and twenty mil ions sterling
Here is on abnormal state of things tina, may
Meke capitalists pause aud poooer."
As proof of the expansion of the individual
frsLsactio.s of France, the writer adverts to the
fact that the amount of private bills discounted
by the Bank which in 1854 amounted to 2 944,-
OOO, 900 francs, rose in 1855 to 1852 OOO, 900 du
ring the time in which the Bank had to buy specie
to save itself from bankruptcy, while the bank
notes IN circulatnn went on constantly increasing
in amount. 1.-THE Bank OF France" he continues
' has lately been compelled to give notice of its
"intenton 10 contract its operations by calling in
outstanding balances and iesseniOg the COM
'modatiOns hitherto given to the public 1t is this
process of contraction which imparts uneasi-
"Iess and mistrust to the great centers OF com
a. merclal enterprise. Nobody can foresee what
-'may happen In France before it RECEIVERS its
mel Nine the hary
1.-The vintage and the crop of silk as welt as on
"the extent 10 which the foundations may have
destroyed the capital of those districts over
"wbch their deyastatiOns have spread. But still
"mOre depends on moral causes Should the
population Of the provinces catch some exagge-
rated accounts of the present state of the B,nk,
"they might probably be seized with mistrust
(which would produce a speedy catastrophe.
1.-The peasantry Of France have only very lately
acquired the habit of parting with their five
franc pieces in exchange for Government stocks
az or bank notes. They still retain in their tradi-
'tiODs a want of faith in paper money; and if,
"unhappily, anything should occur to create a
''paDic amosg that ignorant class, and conse-
''quent run for gold, few weeks or mouths
might witness bank suspension and return to
80 the days Of assignats." such is the state of
France.
There being at present no political event of any
Importance TO be commented upon in the columns
VI lho ioouinS t>hehsh papers, thcy NJ ouCo oo-
come desperately virtuous, and denounce the i'm
morality Of Verdi's opera lie Trayiata and even
of the Countess PiccOlonini for persOnating the
principal part the stage. Now, certainly, the
opera is bad, weak in its music, unartstic Al in its
hbretto, and immoral in its tendency; but why
have The Spectator and The Times suppressed their
moral sense for so long time, and allowed the
aristo crstic womanhood of England to be contain
mated aud outraged for whole season. Why
have they suppressed their indignation until Her
Msjesty's Theatre is Just about 10 be closed and
1aff