The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-27

Iy in the whole OF Europe.
Political Changes and tho Fall Of Bankers
Monetary Effects OF the War In Europe.
One OF our contemporaries, whose great god is
the niger, whose philosophy is the nigger,
whose politics is the niger, whose humanity is
the niger, and whose finance is the niger, picks
brick out of one of our recent articles, and en-
deavors to handle it, though in very curious
and awkward way.
1t tells us it "would be much obliged" if we
would mention one out of the hundreds Of claim
ants upon our government for remuneration for
disasters arising out of our Revolutionary
finances. We are always ready to oblige our
ismatic contemporary in the way of information.
On many former occasions we have done the
same thing. We have "obliged" it with infor-
nation in numerous instances in politics, phi
losophy, legislation, law, finance, economical
science, social relations, and numberless other
things that 60 to make up the sum Of life. We
are willing to do the same in the present in
stance. It is true, that most of the claimants
have gone down in poverty to the grave, but
some of them still live. Mr.. Salomons for the
last twenty years has been vainly petitioning
Congress for the payment Of half a million or
thereabouts Of dollars, which his grandfather
loaned to our grandfathers during the struggle
of the Revolutionary era, not one cent of which
has ever been repaid or funded in any way, ex-
cept in the Revolutionary breeches pocket.
But our contemporary does not attack the great
principle which we advanced, and which we
threw out as warning to our merchants and
commercial interests generally, that "the fnan-
cial agents OF every government rise and pros
ceding system which they uphold" This great
truth cannot be overturned. Some may be dis
posed to doubt it; for, as general thing, the
experience of the present and the last generation
of merchants comprises only revulsions that
have sprung from purely commercial causes.
The financial disasters of 1917, 1925, 1887 and
1857 arose from the reactive force of preceding
commercial expansions, speculations and over
trading. They grew out Of the exaggeration
of natural and legitimate elements in trade; of
pushing the expansive power Of commerce to
it's utmost extreme.
The financial ruin that follows war, and great
changes in political systems and governments, is
of different character. 1t is destruction that
knows no recuperation. Egypt Palmyra
Greece, Carthage Rome, Venice Genoa and
Holland all had their respective great financial
interests and bankers and each in its turn
ruled the moneyed world. But their rule and
their bankers have long since disappeared, al
oh IN If thoyu thoir will 0fy.
have continued to exist and labor from that day
to this. War was the element and the cause of
their decay. In its course it is not like the
healthy reaction Of excessive commercial expan-
sions. When the latter works. nothing is really
lost. The great public works which it may have
created the ships it has built, the products of in
dustry it has called into existence, and man him
SELF all remain for the use or for the enjoyment
of man. They only change their position in the
relations of values. But with war it is different.
There, millions of men are arrayed against each
other. The material elements of wealth and
power are consumed or destroyed. Producers
and products alike disappear and are known no
more The complicated political and financial
scheme within which they revolved. is broken
up, and the control of the wealth. and through it
the power of the world, passes to other combina-
tons and to other hands.
Such, in greater or less degree, must be the
result of the present contest in Europe. In con-
sequence of the disparity of forces and resources
between the two Powers Austria may, and pro-
badly will, suffer in greater degree than her
antagonist. Her entire political and financial
scheme will crumble, and must be changed. But
France, too, must suffer greatly. Two millions Of
men and many millions of capital cannot be
Withdrawn from the arena of industry, and, ceas-
ing to stimulate production and exchange en-
gage in the work Of mutual destruction, without
inficting great injury upon the material wealth
and power of each nation. Principles conducive
to future social Development may be sustained
and the interests Of posterity advanced But the
existing wealth Of the world must pass to the
hands of those who maintain themselves free
from the contest and its sacrifices, and who con-
tinue to protect the productive power of indus
try and trade. This is the position that it be-
hooves the United States and England to take
Together, they may maintain the immunity of
the seas to commerce, and thus preserve the life
giving elements Of their own industry. While
they hold it, wealth will continue to pour in
upon them, and power always follows in its
train The present war in Europe will certainly
bring the ruin Of the political system and of the
financial agents of one Of the parties, and in all
probability state Of exhaustion to those of the
other.
The SEASON, METEOROLOGICAL, AGRICULTURAL,
FASHIONABLE AND OPERATIC.-We may all con-
graduate each other upon the brilliant opening
Of the season of flowers and fruits and birds,
cerulean skies, balmy atmosphere, and all of
natures bounteous gifts. After au open winter,
we had, for this climate, most agreeable COM
mencement of spring. The last days of April