The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-05-27
Especial Despatch
Later News from Europe.
DETAILS BY THE ASIA.
SPIRIT OF THE ENGLISH PRESS
THE LONDON TIDES ON THE EFFECT OF
THE WAR ON ENGLISH COMMERCE AND
AMERICAN NEUTRALITY

New York, May 26.-The London Times in its
City Article has the following remarks upon the
possible effect of the war upon the commerce of
England IN the event OF that power being involved
in hOstties:
The most important question in connection with
the possibility of England finding herself involved
In war, Is, what effect will it have COM
merce? In the old war with France, the suspension
of our maritime supremacy would have at any
moment have sealed our ruin; and the grand effort
of Napoleon was to achieve a European combination
such as should exclude us from every port. So
long as the profits of our enormous trade remained
undsturbed, we are sure to tire our opponents in
every struggle Can count being able
now as heretofore to secure that result ?
Many, looking at the fact that the French
fleet is alleged, in number and power of Guns tn
be superior to our own, and contemplating the NOS
sibility of its being aided by that of Russia are dis
posed to entertain misgivng but these persons
omit to recognize the alterations effected by the
lapse OF generation in the international maritime
law. Under no conceivable circumstances of tenn
porary or even prolonged disaster could our gene-
raj commerce now be interfered with. We MIGHT
Tor time lose our carrying trade, but that is the
utmost in jury that could be inflicted upop us
The doctrine accepted during the Russian war,
and subsequently confirmed by the Paris
Congress, that free ships make free goods has set
tied this point definitely. An interchange ofgoods,
therefore, would go on with nearly as much steadi-
ness as ever, although the whole of Europe might
be arrayed against us. The business ,romld be con-
Quoted By the United States. Their ships would
ollnS Us cottOn, corn, ana all other staples c.
cordlng to our requirements; and would in turn dis
tribute our manufactures over the world Thus we
should go on buying, selling, and making money
IN our old fashion, while our opponents were suffer-
ing exhaustion under the effect of financial mis-
management, commercial prohibitions, and the de-
pressing influence of conscriptions. twill be urged
perhaps, that in the event of all our ports being
blockaded, even the American marine could then
be of no service to us, but that is contingency
which few Englishmen will think it necessary 70
discuss. would. moreover he as fot al 10
ca as to England, and would therefore soon make
that power party to the quarrel.
But 1t may yet be said that, although the inviola-
bty of neutral vessels was so recently affirmed nv
France, Russia, Sardinia, Austria and Turkey. as
well as by this country, the three former powers
may, if it suit their purposes disclaim it with as
little scrupe as they have lately shown in stultfy-
ing their decisions at the same CONGRESS regarding
the Danubian Princpalites. There is no room for
any such apprehension. Those who attempt to set
aside the new principle must do so at the peril of
immediate war with the United States
as matter on arhich the WASHINGTON Cor
ernment 'eiU entertain no question. and the
first, interference with an American vessel would
be followed by instant demand for satisfaction
Happily, therefore, the bearings of the case are
now entirely independent of the wishes or dec-
sions of the Continental Powers. Whatever dreams
may be cherished of fulfilling to the letter the ira
ditiOns of the First Empire that of forming coali
ton to shut out ard destroy the commerce of Great
Britain must be considered by the progress of CIV
iizaton to have been shorn of nearly all its terrors
From the London Times of Nay HAL
In ancient Rome, generals who had finished a
successful war rode in triumph along the Sacred
Way to the Capitol; but it has been left for the
present nheritOr of those great traditions to march
along the Sacred Way to the field of battle and to tr-
umph before he has even fought. Perhaps if Louis
Napoleon had been bred practical soldier, and had
served with armies in the field before he came to
take command of one at fifty years of age he would
have initiated the ancient Roman in his two quail
ties of modesty and of respect for the enemy; but the
proclamation of the French Emperor breathes ONLY
the recollections of the first Bonapartist Empire
That the present French troops are the EQUALS of
the Republican warriors whom the first Napoleon's s
discipline made so terrible to Austria-that on the
other hand the Austrians themselves are the slow
pedantic race who fell an easy victim to the great
man-that everything will happen according TO
the precedents of 1896 and 1S00 is presupposed in
the imperial proclamation as certain. Such doc
ument is of course not to be judged if it were
political manifesto. IT is published to inspire cour-
age in followers, and to strike terror into enemies
and therefore tone of confidence and even of pre-
sumption, may be fairly excused, but it certainly
seems that the expectation of the French
respecting the speedy success is real, and
that the Emperor in his address only echoes the
voice both of the army and people. The French
have won so many victories over the Austrians on
the fields of Italy, and they have so completely
forgotten the reverses which they occasionally suf-
fer, that Paris, France and the Camp fully believe
that the enemy is to be swept completely out OF
Italy IN the first campaign, and that if Germany
waits for the next three months before assisting
the Austrian army there will no longer be an Aus
trlan army to assist. There can be no doubt that
this confidence has its effect in Europe and perhaps
ON the enemy. 1t is the privilege of France to
nave the ear OF other nations, and to be able to