The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-14

Sns Ensct Or tAs American RsvuIssoa ON
ths rOaisScs and Commerce Or Hurops.
The great revulaon that ia row going on here
in financial affairs overslaugaing In its course all
the old political issues Of the day, and effectng
practical, though peaceful revolution in the
ideas and theories that rule in this country, will
undoubtedly affect the political theories and sys-
TENS of Europe in much more marked and
durable way than it does ourselves
The relations that the United States bear to
| the countries OF Europe in q material point of
| view are many times wider and deeper in their
rami6caiions than has ever been the case in for
mcr years of commercial disaster; and the loss
Of the great demand Of our markets is likely to
| cause disturbance in the large manufacturing
| centres of the Old World that may react upon
| politics there in more violent form than ever
before. Already have the retailers in our city,
Of silks and fancy goods reduced their prices
thirty three per cent on rates that were estab
lifhed few weeks ago, and their example
mus be followed all over the country. The
same result has attended trade in groceries
and all articles that depend upon the
| great mass Of consumers including that in pro
visions. This has been done partly from the
desire to raise money; but it has also been
caused in part by the wish to force off the large
stocks of all kinds of goods that have accumu-
lated in our warehouses While no branch Of
trade is understocked, there are now lying in our
| Custom House stores imported goods to the
value of thirty milliens of dollars.
This immense importation must be cold at
very large sacrifice; and whether it has been sent
here by the foreign merchant on his own account,
or on orders from our traders, the result must be
the same. In the first case, the foreign merchant
experiences the direct loss and in the second, he
bears it indirectly, from the inability on the
part of our dealers to meet their obligations In
addition to the present loss, there will be the
| great diminution in orders from here for future
use, consequent upon the retrenchment that has
already become the order Of the day throughout.
the Land. At the same time We shall demand of
Europe large sums of the precious metals, to re-
store the equilibrium of affairs here, which will
bring upon ii an increase Of the contraction which
has already begun to be felt in monetary circles
there. That contraction is already evident in the
decline of the public funds in nearly every State
in Europe; in the dismay in England consequent
upon the loss of her East Iadian markets for
term OF years; and in the shrinking and proxi
mate disappearance of such great bubble con.
Gems as the Credit Mobilier of France.
These causes, with the others that are appa-
rent TO every thinking man, are operating with
the same unerrlng certainty in Europe as did
those which We have go long seen here, and
warned our people against. A similar imitation
of values exists 10 Europe to that which existed
here; the same juyorc of speculation has been rife
there; railroads have been planned to extend
thousands OF miles into Spain and Russia, and
every money market has been cosxed to take a
hand; fancy companies Of all kinds have sprung
up, particularly in France, which we're 10 make
mems fortunes in no time; immense steamship
lines have been created, and were it not for the
demand for the ships that have been built to
transport troops and supplies to distant regions,
dozen giant lines would noT be bankrupt in
Great Britain. AL this while every govern.
ment in Europe has been bankrupt, and
living upon credit Foe ten years past
| France, Spain, Austria, Russia, and all
4 the minor States that had any credit
! have exhibited constant deficit in their fuan.
cial budget, and rvsorted TO loans or some SINH
lar expedicnt to make UP the deficiency EGG
land, which has experienced commercial
expansion during this time tia. has astouished
herself, has spent more than she received from
her revenue, and las greatly swolled her immense
debt
Now comes the contraction and the couscquent
money pressure Ard what l. The condition OF
the governments Of Europe to meet that aud the
starving millions OF lis population: England
has two wars upon her hauds--wars that must
be carried on at the autipodes for an indefinite
period, The reyulsion will IN tue ranks 81 hoe
armies bat the demands upoa her exchcnuer
must BE- raet by more loans and new taxa.
tor. War prices and war taxes may effect
new distribution Of her wealth among her people.
Spain is boiling with revolutionary feeling aud
the want Of bread Of which TIE late explosion at
Seville was but a prcmonitory symptom, Ans.
tria and Italy are kept quiet by the pressure Of
Al immense army on a war footing; and France,
full Of revolutionary conspiracics il on the eve
Of financial revulsion and winter Of no work
and starvation TO the manufacturing population
q her cities. These are the dangers that await
the political and monetary circles Of Europe; and
who ,lmll iorelell their results.
Louis Napoleon is busy as the diplomatic ne
goiator Of Europe. Lately he vas at Osborne
House TO arrange with Queen Victoria tic In.
dian problem: now he Is at Stuttgardt to consult
with tie Emperor Alexander about the Priuc.
palities and the effects Of "the sick man" Tar
key hc sentimcntalisn Of politics engages all
bis attention. But the "cotton twists" a. his
organ, the ContiinioaH1 lately called them in de.
rision, are contracting around the foundations Of
his throne in manner that he little dreamed Of
few months since France a. well ~ Eagland
must have cotton; and to-day we must have gold,