The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-03-21

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In advance of every other American journal, on
Saturday last we laid before our readers the narra
tive of Lord ELGIN's recent voyage of exploration
up the Yang-tse-Kiang, for the purpose of Sc
Letting, from personal observation, the marts in
the interior of that vast Empire, which are
best adapted for foreign trade, and we
propose to make a few remarks upon the
commercial advantages which are likely to ac-
crue not to England, alone, but to the mer-
camille marine of all other countries. from this
well-timed demonstration on the part of the Brit
ish Plenipotentiary. The first important points
gained by the allies were the liberal concessions
which they obtained from the Court at Pekin, by
iudicious display of frmness and decision of char
acter But treaties after ALL are but mere waste pa
per, unless the stpulations they contain can be rem
dered practically useful. To have simply obtained
the Emperor's assent to the demands made upon
him, and to have then withdrawn, at once from
the China waters, the hostile squadrons by which
those demands had been enforced, would have led
TO the evasion of the terms of the treaties almost
as soon as the terror, inspired by the presence
of the 'outside barbarians,' had subsidized. If,
therefore, it had been left to peaceful steamers and
merchantmen to seek out their own markets, under
the provisions of the treaties, every imaginable OBJ
stacle might have been placed in their way by the
Imperial Government while the blame would
have been thrown, as of DID, upon the disaffection
of the populace. The object which Lord ELGIY
evidently had in view, in planning his expedition
up the Yang-tse-Kiang, was, by prompt move
ment with portion of the squadron acting under
his orders, to counteract any undue influence
which might otherwise be brought to bear upon
merchant vessels navigating the northern rivers of
China, and, while establishing the right which had
been conceded to penetrate into the interior of the
Empire to maintain that right by force ofarms ifany
show of opposition should be made. The presence
of foreign war-vessels in the heart of Northern
China, six hundred miles from the ocean, was
formal assertion Of the privileges which had re-
Gently been acquired. 1t was moreover, an init
nation to the inhabitants of the various populous
cities upon the banks of the Great River, of the
fact that the country had been opened up to for
eign commerce; and it had the further salutary
effect of drawing from the Governor General of
the upper provinces of Human and Hupeh, solemn
recognition of the validity of the treaties of Ten
Tsn. The rebels, also, who sought to obstruct
the progress of the squadron, have been taught
lesson which will render them more cautious in flu
ture how they interfere with vessels sailing under
n foreign flag; while much valuable information
has been obtained net only with regard to tile
navigation of the river, and the cities along the line
ofroute but concerning the commercial wants of the
people. If all the benefits to be derived from this
knowledge were to enure solely TO England, while
we might applaud the boldness and decision with
which Lord ELGIN has followed up his earlier dip
lomatic success, we should feel less interest in
tracing his movements, or in chroncling the re-
suit of them. But the equal footing upon which
our commercial relations are placed by the one
saving clause in Mr.. REEDS treaty of Tien tsin-a
clause which is due to the forethought of his pre-
decessor, Mr.. CUsHING-renders the proceedings of
Lord ELGIN of quite as much importance to us as
to the nation he so ably represents. We have rea-
son, therefore, to be more thankful to our good
land and France, than to our own foreign policy,
or to the sagacity of our Envoy. We have already
alluded to the fact that Mr.. REED is, at this time,
on his way home, and we see it stated in some
of the American journals, that he will probably
defend himself at Paris from the charges that were
recently brought against him by the London Times.
We should rejoice to believe in his ability to ex-
onerate himself from being justly amenable to the
structures of that journal; but We fear that it is
impossible for him to do so. Lieutenant HABER-
SHAM, in his last letter from Hong Kong, chival-
rously enters the lists in behalf of Mr.. REED but
the only manner in which the gallant sailor can
vindicate the American Envoy, is by simply as
serting that the sins of omission and commission
with which he has been charged fare, in many
''cases, uncharitably false" and that the stric-
lures of the London Times have their origin in the
proverbial hatred and contempt entertained by that
journal for America and Americans. But the
Lieutenant frankly admits that 'the few facts
upon which the comments of the Times were
based care unfortunately too true. These few
"facts," continues he sadly to the damage
of the cause he has undertaken to defend
'may be expressed in an equally few number Of
'lines, viz:-Mr. REEDS hands were so often tied
'by the ant-warlike policy of our government
'and most miserable and jackall-like policy il
"was-that he often found it impossible to act,
'and so, like wise man, he kept quiet. Then
''again, he at one time objected, and, believe,
Railways conscientiously opposed Englands policy
''as regards the introduction of opium into China
''Ths is the true thorn in the side of the Times,
Al 7
'three, who have visited this country, that opium
'is necessary to Eastern commerce and Chinese
''comfort, and is undoubtedly productive of less
''misery than the introduction of London dock OF
"French Brandy into the UNITED STATES, still dc
''not blame Mr.. REED for condemning its importa-
'Etion as inhuman and unchristanlike." The best
that can be said of Lieutenant HABERsHAMs at
tempted vindication of Mr. REED is that it is rather
an apology than a justification, and that it shifts
the responsibility from the shoulders of our Com
missioner to that of the Administration But this
neither removes the stigma which attaches to our
recent diplomacy in China, nor does it relieve Mr.
REED from the charge of remissness upon points
on which he certainly retained free liberty of action
A merchant who is engaged in the China
trade, has recently addressed communica-
ton to the Boston Daily Advertiser, in which
while disclaiming all personal feeling in the mat
ter, he gives his why the suggestion which
has been made, to extend to Mr. REED public re-
ception on his arrival, should not be acted upon
at seems to me-" says the writer, ''that the mer
sschants of Boston, or of the UNITED STATES gene
orally, are not, in gratitude for any thing that HI
"-Mr REED-has done in China, particularly
"called upon to go out of their way to receive hin
s'on his return therefrom." He states further
that he cannot perceive in what sense the mission
of Mr.. REED has been honorable to the country
highly successful, or even moderately creditablt
to himself and he points to the fact thai
while, by the new tariff of China, England has
secured considerable reduction upon former rates.
on all articles of her special manufacture, Mr..
REED has suffered the duty on American cotton
drills to remain at the old standard-thus giving
an advantage of twenty-five per cent. to English
'long ellis, " the only article which came into COM
petition with our "cotton drills" ''and against
(which the latter were steadily gaining in favor
"with the Chinese" After careful review of the
entire schedule, the Boston writer 'cannot see that
'Mr. REED has gained any privileges for the mer-
"chants of the UNITED STATES that would not have
tHaAv, At.n.u,