The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-12-22

The Revuision In Earopc-its FIRST Les.on.
The extracts from our files per Adriatic, given
elsewhere, show that. the financial revulson is
reverberating with unprecedented fury from
end to end OF the continent of Europe Stimuli
taneously with the failure Of London merchants
and Liverpool shippers We hear of unprece-
dented commercial ADVERTISEMENTS at st. Pc
tersburg and throughout the Scandinavian
kingdoms the crisis at Madrid concurs in point
Of time with the suspension Of banking houses
in Italy; we discover, simultaneously, that
Austria is all but bankrupt, and that Prussia is
in danger Of revolution in consequence of the
discharge Of workmen from the insolvent facto.
ries. One single calm spot-we arc given to
understand the general prospect of tu-
multi and storm: France-of all countries in
the worlds tranquil, prosperous and comfort
able while all around her is ruin aud confusion;
and the very moment when the Bank of England
actually contemplates further restrictions on
discounts, when the banks of Prussia, Austria,
Hamburg and most Of the great Continental
cities tremble on the verge of bankruptcy, is
the moment the Bank Of France chooses to re-
duce its rate of discount.
One need not stop to expose the utter
absurdity Of the reported news from Pa
ris. 1t is one of the conveniences of
despotism to regulate newspapers and tele-
graphs; that convenience has evidently been
appreciated by,his Imperial Majesty within the
past month. With no worse purpose, perhaps,
than to prevent dangerous panic, the En-
peror has obviously concealed the events of the
day not only from his own people, but from the
foreign world; We neither know what the mer
chants are doing, nor the bank Report alleges
that the bank is gaining specie under the re-
duced rate of discount so ridiculous story
needs only to be repeated in presence OF COM
mercial men to be exploded. The imperial
idea seemingly is that, by concealng the truth
from the public eye, the people and the COM
MERGE of France may be gradually Injured to
the occasion. and trained to meet the revulsion
with courage; in which case, of course, their
losses would be less than if they-like the
English and ourselves-were suddenly seized
with panic.
However all this may be, it is clear that
all Europe, from the Urai mountains to the pill
| Hebrides. is thrilling and groaning under the
| effect of the revulsion which took its rise and
received its impulse from the United States
There is not country in Europe which has not
been shaken to its very base by the effects of
the crisis. High and low. traders and land
owners, the tenant Of the castle and the tenant
of the cottage have all felt il alike.
Z, he, J,,t
with facts and the fact that commercial re-
vulsion arising here. and springing-so far as
we can see--from local causes, has sufficed to
shake the commerce and financial standing of
every nation of Europe, is fact of astounding
novelty and Importance. Hitherto our com
mercial revulsions, severely as they have been
felt here, have produced no more impression
upon Europe than the ripple of the rising tide
produces on . granite rock. In lS37-the most
severe we ever had before this year-the Bank
Of England quietly crushed out the Anglo-Ame-
riean houses, including those which had been
established TO represent the United States Bank
in England; aud we all broke without even at
tracing decent share of attention in Europe.
Seemingly, the discovery of California and Aus
misunderstanding 80 ucW loI tuc
enterprise of this country to use-has made a
change Of very important character in our
standing among the commercial nations Of the
world. and effected some alteration in the re-
cognized centres of trade. Now, it would af-
pear this is the great centre Of trade, which can
not experience shock without causing vibra-
ton throughout the entire commercial sphere.
Trade centres, We know, have been end
lessly shifting. The pre-eminence of Tyre,
Sidon. and the Phpnician cities, made
way for Carthage, which, when it fell be-
fore the power Of Rome made room for Corinth,
and host of smaller ports on the Mediterra-
mean; which yielded in their turn to Genoa, and
subsequently Venice; which last coded the
commercial crown to Holland and the free cities,
from which 1t was wrestcd by Anglo-Saxon en-
ergy and secured to. England. II looks now az
though fresh change might be prefgured in
the late crisis.
NEW PLAN FOR SETTLING TtE KANSAS SQCaE-
m. - -