The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-01-24
AFFAIRS IN EUROPE.
Cur London Correspondence.

Our London Correspondence.
LONDON, Dec. is, 1857.
Financial Phenomena-Austria Lender ana
France no Borro,oer- British Hostaities Against
China-Disraelrs Tilt against Lord Palmerston
--Christnlas Festivities in London-Ihe Opera,
&C., &C.
After temporary lun we have had within the
last few days several pretty loud explosions Some
large houses have gone down, or rather gone up,
10 carry out my smile. They were all connected
with the North of Europe, where the commercial
plague has broken out with considerable viruence.
At Hamburg the crash has been alarming, but the
authortieshav been making strenuous efforts to save
the mercantile existence of the town. A Discount
Bank has been organized, with capital OF near
twelve millions of dollars; but far greater feat
than this has been performed, which ought to i'm
nortalise Hamburg-"for this amongst the rest has
she been ordained !" in the words of Richard What do
YOU thnk-a loan of ten millions OF marks has been
obtained from Austria! This is q theme worthy
the London Times. shrink from the flight my pen
must take in handling so stupendous topic as
loan from Austria to Hamburg In Sweden the
Legislature has also come promptly forward TO the
relief of commerce, and, by various salutary mea-
docs seem extraordinary that after such energetic
efforts here and elsewhere to stay the spread OF
calamity, we hear day after day of some of the
"oldest and most respectable firms In all parts OF
Europe yielding to the pressure from without.
What is the logic of it? The simplest and truest So
hutton is that they have overtraded, ana must sub
NIT to the penalty awarded to less respectable
establishments.
Next to the Austrian loan, just spoken of, the
most marvellous event of the day is the utter COM
mercal serenity of France. Even the Times is
dumbfounded, and dare say the HERALD is per-
picked. We have all heard 30 much Of wild specu-
IA and Nrodtf N
occasional spasms Of the Bank of France that every
body anticipated financial CONFUSION IN France, on
the first opening worthy Of the days when the Mis-
sssippi bubble evaporated. Had tickets been offer
ed for sight of the tabeaur civants that were con-
fdenty counted at the springing OF the financial
mine who would have refused the chance? Yet
amid all the uproar and confusion pervading the
with Hamburg in agonies' stockholm waking up
from stagnation, and Austria making loans,
what do we see and hear in Paris The Bank OF
France lowering her rate Of discount, and bullion
rushing by the natural force of the tide, into her
overlooking Golfers. Talk to Frenchmen OF panics,
crises and bankruptcies and they will stare at you
rs If you were uttering an unknown tongue. What
would Napoleon l. have not given for the luxury
Of such triumph as this the nation of shop.
keepers" az he irreverently styled old England and
Napoleon Ill must consider himself more fortu-
nate man than his immortal ancestor, to have lived
to enjoy it, The meaning Of it is simply that neither
the gros petit commerce OF France has been car
RED away by the example of the Stock Exchange,
and that they have observed a proper proportion
between their trade and their capital, ma plus nj
sp0tns que celia. How odd that people, reputed so
giddy and frivolous as the French, should make so
decent an appearance when we, cute Yankees, are
obliged to clothe ourselves in sackcoth called bank
paper whilst our commercial progenhors are doing
their best to hide their nakedness! These are the
natural, but temporary results of that prodigious
enterprise that make England and the United States
the first commercial Pations OF the world, whose
civiizing mission it isto rouse the "Celestias" of
&I.ao tt. uall drU
the mongrels of the Spanish race in the West from
the possession of well nigh continent they desc
crate.
It was the other day only that Mr.. Disraeli, in
Parliament, was plying poor Lord Palmerston that
he had no foreign nation to contend WITH either III
diplomacy or war. The leader of the opposition
ought to have waited for the news we have to-day,
which is nothing less than that the English fleet is
going to take Canton on the approved principle OF
fighting first and negotiating afterwards. Nothing
could be wiser certainly, than this display OF vgor,
and the sooner that England phlebotomses the con-
cet of Commissioner Yeh the better for British nte-
rests and for the world of trade generally If France
and the United States are not disposed to lend
hand, John Bull, impersonated by LORD falmerston,
il not afraid TO undertake the job slngle-handed.
Parliament has adjourned 70 the 4th OF February,
after ndemnfying the bank for exceeding its char
ter Mr.. Dsrae tried hard to get up grand tourna-
ment on the currency question: hoping 10 run ms
lance into the Prime Minister; but the House OF
Commons showed they were in no humor for such
pastimes-by majority Of l7S-wfnreupon Lord Pal
merston smiled, and his aspiring opponent bore II as
well as he could.
In spite OF the trouble in the city, the juvenile
world and its estimable parents are frightening up
ut the approach of Christmas The shops Of the West
End had never looked more gorgeous arsi the crowd
of eouipages that surround them show that there Is
class in this country who put their faith in acres
and not in Joint stock banks; and verify they have
their reward when Christmas comes around, for
whilst they eat spend and make merry, how many
unfortunate shareholders know not where to lay
their heads.
In the theatrical world all Is preparation
for the carnival pantomimes, and Harlequin Is
sharpening his sword of battle, whilst Pantaoon Is
coming gbes at the expense OF the flying follies:
bubble companies will not be spared. The multi
tudes here who await impatiently the return of the
opera season are electrified at the thrilling news OF
the advent Of Piccolomini, announced TO appear on
the 2sth Of December three months before the usual
epoch Piccoomini has been running strong OPP
position in Hamburg and Berlin to the commercial ex-
cement in both these places and her audiences have
not only outnumbered the half frantic thousands
who met daily on Change, but her slivery notes
were at an immense premium and sought after with
such ayidity as 10 prove their sterling value. She
comes back TO her Msjestys theatre here the lyric
queen of Europe. and she IL In danger. like Alexan-
der of old, of crying herself TO death for another
world 10 conquer.
Our Paris Correspundence.
PARIS, December 81, 1857.
Departure Of the Old Ysar-BriAiam Mem Years
Aspect Of Paris-Rsception Of Mr.. Buchnnan's
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