, 1859-05-14

lFson ths United sta,as Econou.ss, MAY Ill
Thus far there is nothing to cLauge the course
Of commercial Affairs. The assembling and
marching Of TO- 900 Austrians, GOV 900 French,
and 10000 sardi1iana, making 1,4oo,ooo men,
or ?o0.ooo more than sfe usually under arms,
will make but little change in the consumption
offood, as foliows:>
80 1Se '''-'- '.''.'.....t ;dS f :9o3 :Se9
ssFdln1a' a'........................ 4os1oo1 Ioo.uO
1osal.'.''.....''..... .......... 5o-9s.oU 1+t,oo
Among $1,000, 900 Of people, the taking Of
Gel, ,V9u men, that is one out of ~, more or less
from ordinary occupations will hare but little
lnHuehct npon production; md no more upon
consumption than what will be caused by waste
What they actually eat rs soldiers is less than
whal t1ey get At home. 4 large portion Of
these are idfers from the cisies, and in Europe
the labor Of agriculture, thanks 10 the long
,vars OF former ages, is enstoma.ily performed
By females. No couscEipt is taken where his
labor Is necessary to lis family. The mere
movement Of the men is Of no commercial in
portance. Where their operations extend
1 1ser larEe agricultural surface, they,
however, destroy and prevent agriculture,
AMI IN so tnr cause q demand from other
quarters. If this is confined to Northern Italy,
while oil tue ordinary sources Of supply are un-
disturbed, tie commercial effects Of the ar will
hardly be felt There never was a more propi-
tious moment for war than now. since crops Of
all sorts in Europe are yerv abundant, CAPITAL
and money abundant aud chean. and ENTERPRISE
not recovered from thu panic Of ISIS. This is
very different state Of auairs from hat existed
When the Russian WAIT took placc. There was
then failure Of everrthin. IN Western Europe,
Wheat, in England, had touched luls. In France
tile vines, silk-wornls, food, and other crops.
we're ll short, and money was yerr dear. Entitr
these circumstances the exports Of produce from
the United Stu:es would huvc bcen quite ~
large had there been no war 1T nll That event
dill not ud3 to the demand il, any degree. It's
influence was felt only in the manufacturing
towns of England, in scarcity Of labor, whence
large portion Of the new troops were drawn
The armament Of the war, however, caused .
great decline in government funds, under actici-
pations Of large loans.
The migration Of nen and capital to the
United statrs during the Crilnean war, and
sales "f produce to Europe. were certainly large,
bu; those circumstances were not due to the
war-ther were the result Of short crops in En-
rupe, which drove forth great numbers, and
Called 1ur large imports to sustain those who
r:naiued. Those circumstances ere not now 10
operate, at leas: for year to come. If in that
time tlle war should become general, involving
strife between England aud France. their fleets
would disturb the uccan. instead of keepiii. il
n;ru, AID England would be- thrown upon thc
United States for tbosc large supplies She now
AAAha - 4uali Ff4ACt.
tFro:n the Ntw York Shipping L!r.l
We cannot help thinking the popular theory,
that this war is destined 10 cotiicr incalculable
benefits upon our own country, as not uu1y IN
extrarn"ant but mi.chievous one. Itis founded
upon the assumption THAT our ships, stocks,
brcadstuts, provisions, ETC. are, ail Ut once to
meet with IN active demand III Europe At ad-
y:nced prices; but this assumption. II is appa-
rent to every close reASnner, rests upon IN ex-
,iif,.YI fAo5I $p-s -f
for the most part, be in the heart uf Europe, and
wha;e'cr extra tonnage may be needed to trans
pori t:'ups and ammunition 10 the coast
Of lta:H the mercantile marine of
Franc" can readily supply. Short yoy-
ages uriy will have to be performed. and few
screw stcatners y: Ire>t, IIavTc and Touon will
probably be sufficient fur war with Austria.
Which Is, 70 all intents and purposes, an inland
power. Hence it Is not i, alt likely that there
will be demand for American ships worth
speaking Of. If England and Russia be drawn
INTO the contest, Il outlet for our unemployed
tonnage might be presented. bnt it would not BE-
wlse t0 calculate too confidently upon contin-
gcncles that may never occur. Next, as to 4
nlpre active demand for our stocks and bonds.
growing out Of political uncertainties in Europe.
which such a war must generate, it Is not well
tVbe oser sanguine. Many of our leading Sc
curities we mean those which have hitherto
been the faynriteS in Loudon-are still under
the shadow Of the last panic, and cannot in.
ylte increased Investments IL any extraordinary
extent. Then, rs to 6rcadstufls, we have none
to spare just now, even il they were wanted !;
and, also, as to sh' future, all that can b. said
is just this. that il the harvest here turn ont
well, We will be in condition to ship freely
next fall and winter: but, even should the war
20 on. should the Continental crops prove Is
abundant as ours. the chances are that. in uny
event, we shall have good deal more to sell
than Nc can iind customers to buy. This is the
prospect fnr the future, and the present certain-
sy exhibits no special reasons tor consratula-
tlon 1ha1 all Europe is aboat to be converted
into j scene of sangulnary strife.
[Fnsa .hr New York Tl1ac- 1lth'
Long experience shows that tl..re Is M such
coincidence between variations in tue rate of
Interest anu variations in the markets for pro-
dlce as to sustain tue inference Of tue direct
relation between them If cau*c and effect /
long continued rise in the rate Of interest may
raise pricts, by increasing tue cost Of produe-
tim. 4 rise in t!lc rate Of interest, implying Il
contraction Of credit, nay dcpreei$tc prices in
time Of great expansion By forciny into the
market gonds held ou credit. But the crisis Of
le"s has reduced thu credit operations of Eng
land and Anlerica within the limits Of sccuritv.
The prices If our cotton, which Is the mnst
speculative "f our products. may tiuctuate for
i short time noy, rs they did in Isis, in the
lean year. Of 1>53, in tht outset If the
Russian war, and indeed in all SCISSORS Of
fcseri>hncss and nn1icty. But our breud-
stutis and other exports are steadily rising.
and must continue to rise in value. The great
Continental armies arc made UP by The modern
cunscription system from the hest and most tu-
borious Of tie Continental populations. The
million and Il half Of bayoncts NOW cleaning
over Central and Southern Europe represent ~
nlany idle spa.l"s and pfow-sharcs r1sting in
the burrows. 1t isnot unreasonable to look fnr-
ward to recurrence Of the events Of ls:s when
III single year wheat rose in value twenty slil
lin.s Oh the Imperial quarter. So far then AZ
tt.' financial mud commercial experience of the
past affords us any light IN tic future, We may
fairly prepare ourselves for general recovery
u: American interests during the coming
summer from the real prostitution Of 1s:e,
and the artificial suppression Of the last few
months.
From the New York Tribune, 1lth.}
The Crilnean war, restricted Us it was to o
little corner of the Crinlcan peninsula. md
amounting to nothing more than the siege
Of single citv, which kept the troops cncamp.
French and English to bring all their provisions
from distance. This circumstance afforded to
US Of tue United States doublc advantage We
not only furnisheda large supply Of vessels for
this purpose, but the supply of provisions came
largely from us. The circumstances Of the pre-
sent war are in this respect also entirely differ
cnt. 1t will bc carried on in one Of the most
fertile countries in tue world, which will easily,
out Of iss own products. supply the n,cans to
all the armies, however numerous. In fact,
ttalr is ut this moment feeding very nearly rs
large u number of soldiers as it is possible. for
Austria n,d Sardinia to bring into the field.
The presence Of L French nrniy wuuld cau.a
SONIC additional pressure, but it could not be Of
very long continuance, and would be easily met
frnm internal s1fppfirs