The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-11-09
EUROPE.
FURTHER BY THE VANDERBILT

FURTHER BY THE VANDERBILT.
/ The steamer Vanderbilt, from Havre and South
ampton, arrived at New York on Monday, bringing
373 passengers. The Times of the 26th says:
| The Board of Trade returns for the past month
issued this morning, continue to offer the best refu
tation of the remarks occasionally heard of tht
dulncss of business, the fact being that the trade
Of the country is on basis so sound and so free
from speculative excitement that it seems to 90 OK
with inexplicable quietude. The declared value o
our expectations shows increase of OH 66I. OF
So per cent. over those of September, 1858, anC
there is also an increase OF more than per cent
over the high total of the preceding year. Cotton
goods, owing mainly to the Eastern demand still
figure for the chief augmentation.
The aggregate value Of our experts during the
first nine months Of the year has been 98 O37 3II
against sc, 1921 in the corresponding period of
lS5S, showing an increase of H. 72G 9S2 or nearly
IA per cent.
From the london Times, Of Oct 25I
\ very crcditable narrative of the events in the
Peiho River has been written by Commodore TAFT
nall, in command of the United States squadron on
the coast of China. 1t seems, indeed, to have been
rather too favorable to the English to fit the taste
OF some among the writer's countrrmen, for he is
not little carped at by some critics, who think
that an American commander cannot better par-
form his duty than by keeping up an irritating
rivalry with Englishmen, and affecting Russian
sympathies on every occasion. Commodora TAFT
nall seems to have been simply desirous of adyan
cling his cOuntry's interest by facilitating the arri
val OF the American Minister at Pekin and as this
OBJECT could only be effected by the success of the
Auglo-French expedition, he wisely determined to
accompany and assist it. Mr. Ward the American
Minister to Pekn, had had a long correspondence
with the Chinese officials at Shanghai, and in June
set OIL on his way to Pekin, where it was obliga-
Of June. :. X
The details of the long struggle as the facts are
given in the American despatch, and we need not
further dwell on them. We have given an abstract
mar haaor Il; IL
which the inveterate detract0rs from our national
reputation have invented in support of the Chinese
cause. Here we have officer belonging to a ma
ton which IS mt unjustly accused of something
like splenetlc rivalry of England; he is placed in
the very worst position for doing Justice TO the
acts of our countrymen; he commands on a station
where of late considerable jealousy of British pro-
ceedings was shown by Americans and he accom-
panies an American Minister who to saw the least
is the successor of Mr.. Reed; and vet such is the
force of truth, that this officer is found warmly
supporting the British in all they have done and
annihilating the claim of the Chinese to the posi-
tion of peaceable and unotfendiDg sufferers 1t is
now placed beyond doubt that long before Mr.
Bruce arrived the Chinese Government had deter
mined on breaking the treaty, that Notifications
had been publ " commenced, that a General h ad
been appointed, and the iege subjects of the Cees
tial Emperor informed that the presence of the
Ambassadors at Pekin would not be permitted-
How else are are we to account for the information
which existed at Shanghai of what actually took
Chinese
Ties could not have known that the Ambassadors
would come up the wrong passage but tbey did
certainly know that the 25th of June was the dav
Tor the exchange of the Treaties at Pekip and vet
they made every excuse for delaying the Ambasa-
dOrS at Shanghai, thus eyadinp the Treaties wbiIn
preparing according to their own account to pre-.
vent the Europeans from breaking them IF any
defence were needed for the acts of the British
Minister and Admiral in those distant regions it
would be found in the despatch which we have the
pleasure Of printing.
SPAIN AND MOROCCO.
without any obvious cause, gloomy anticipations
are prevalent on every Continental Bourse, and
men feel disquetude which they cannot account
for, except by saying, in vague phrase, that the
condition Of Europe is unsettled. That this state
OF things is likely to to end cannot be hoped
The breaking out of the in 1858 has changed
all the relations of the European Monarchies and
that international understanding which had been
the word OF forty years and generation of great
statesmen has come to an end. Truly, the begin
ming of strife is like the letting out of water.
What would we not now give for the golden davs
of Louis Philippe and Lord Melbourne when ma
onal dctences cost eleven millions instead Of nearly
thirty; when "Peace, Retrenchnent and Reform
were the watchwords Of Continental despots, as
well as Of platform orators at home? From more
ti.an one capital we receive news of the oppression
which weighs mems minds. War with Austria
is scarcely over, when men of business in France
are beginning to whisper Of new complications into
which the inscrutible policy Of the Emperor NAV
a
ago excitement and even alarm, existed in England
to our future relations with our most powerful.
neighbOrs these have been lullcd for time but in
Paris there still seems to be dread that year or
two may bring a renewal Of the drama which was
played ont in 1859.
1t is this universal timiditv and nervousness
which gives Importance to the dispute between
Spain and Morocco Bay after day the news from
Madrid has been looked for if the difference be-
tween a second rate European power and a semi
bar Mll n aff,c
the interests 't the world. VIII Spain invade Mo-
rocco? Wa. the Emperor yield? If not, will the
Spaniards seek to extend their possessions at his
expense? Aud then in a lower tone it is asked
whether the French ruler is in any way concerned
in the quarrel and whether diversion may be an
ticpatcd on the side OF Algeria
Bat neither the Spanish rulers nor the Spanish
people likely to become willingly mere tools of
France. There is sufficient recollection of the great
struggle of lSOS to keep any ministry from accent
ing alliance which would make their country
even seemingly dependent The increase in the
Spanish forces is by no a matter of surprise
or alarm. Spain, like every other country, has
larger army than she had ten years ago, and she
follows the example Of her betters in spending more
money than she ought, or perhaps than she can ac-
ford But it must be remembered that SpanardS,
like ourselves and the French, have become richer,
and have made material progress not to be des-
pissed. Ever since the cessation of the political
brois which followed the war of the succession
Spain has been prosperous enough.
NarVaeZ, whatever his faults, preserved tran
quillity for time, and allowed enterprise free play,
and now the country receives all the advantages
which the discovery OF gold and the vast increase
of commerce comforting on the world. That a
military Minister should spend money regiments
and ships is not to be wondered at. Spain is de-
srOus Of recovering a little of her former glory,
and we may well conceive the people satisfied
with a warlike expenditure which makes their
country count for something among the nations Of
the globe.
At all events let US leave the Spaniards alone.
We may be assured that in that case, after some
called victory, or the bombardmcnt of some Moor
ish port, the thing will be settled. If interfere
it will only have the effect Of giving the dispute
Importance which does not belong to it.
pERSlNAI