The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-22

7 =. rs necesSaTy
should he replaced by rm strong, and permanent Con
trial government and that National Assembly should DO
called n ee. MEM
In the present circumstances 1t Is only by Prussia
that eectua steps be taken TO reach this end to
cure the initiative Of Prussia must therefore, be the OBJ
g. Should Germany be again threatened from without,
before the Central Government is definitely constituted,
the conduct her military forces and diplomatic relations
| abroad must be contded 70 Prussia
II is the duty of every German to give his support 10
the prussian government SO long as ia aims coincide
directed to securing for Germany strong, free and
united constitution.
whether they belong TO the democratic constitutional
party that they will prefer the national independence and
union to the claims Of party and will work together with
accord and with perseverance to arrive al strong
/ German unity.
| EsxyAcH, August IA, 1859.
French Opinion OF Englnnd's Position
| in Europe.
Paris (Scpt ~ correspondence OF tho london Herald
! The s'War with England letter in the Independence
yesterday, has made sensation, and the government
prints have been ordered not to notice it, The Debas
however comments upon II as follows -
We find in the Independence, OF Brussels, letter from
Paris, which does not appear TO come from its ordinary
correspondent and which it is difficult to pass over with
out remark The writer, in the first place, takes for
granted the opinion already several times expressed that
the Emperor Of the French in concluding the peace Of
vilafranca particularly sought to gain the alliance Of
Austria. The object OF the Emperor in obtaining that
alliance would be to accomplish the task assigned the
second French Empre-the abolition Of he treaties Of
1875 and the uedkeg Of the moral doninaton Of Eng.
land The correspondent Of the Indep'danoe does not
or that il is the final object Of all the acts
ofthc French government; but he aiirms that in
order IT,. to j. avoid such war England must
return into the common law and renounce supremacy
which is no longer in keeping with her strength II Eng
land does not with good grace admit this change her
situation then only would war become inevitable We do
not wish to give any exaggerated importance this let
ter UT ii IS impossible not to see that 1t Expresses generally
s Ss
herself above common right and exercises any supre
macy in Europe. Our neghbors not proud and
they have sufficiently proved during the late that
they were far from pretending to any excessive influence
in the affairs of Europe and there therefore no
sy for bringing them back humble sentiments by
these threats of Illuminated against them by the
respondent of the Independence But these threats merit
attention They show us once more how much govern.
men which holds in It's hands all the forces OF great
country and which is the absolute master Of its foreign
policy, is liable to have its conduct falsely interpreted
Financial Reputation of the State of
Pennsylvania.
From the London Times (City Artcle) Sept. 81
Pennsylvania is true to her character and still light
in the pathway of her sister States. When Governor
Packer February last reviewed her financial history,
and adured his constituents keep her fame and credit
untarnished and maintain that high character for
honesty and integrity by which the State has been
distinguished he knew that he could depend upon them
The chief circumstance that had given Pennsylvania
specific reputation was that in the year 1S45 the egsa
tue with the approval Of the Governor passed law
fscang about twenty per cent of the claims of portion
of her public creditors. That law has been steadily
tanned to the present hour and recent show
Some years ago the county Of Allegheny subscribed
for million dollars in the stock of the Pennsyl-
vana Railroad byEan issue Of six per cent bonds,
and the district Is very Notwithstanding the city of
Pittsburg the Birmingham Of Amerca-these bonds
taken with confidence partly in England and partly nhc
United States Up to the crisis in the of 1857 tho
interest upon them paid out of the receipts from the
railway the dividends that undertaking being eight
per cent that the county, after paying five per
cent gained clear yearly profit Of three per cent by its
holding But the crisis compelled the railway to abstain
from paying any dividend that half year, upon which the
M tha
halfyear's interest on the bonds. The bondhoders,
finding that nothing better could be obtained, then
consented exchange their bonds for the shares which
the county had bought with them, although these had
gone to twenty-five per cent discount. At the
time they pointed out that, the county had
for certain time realized profit of three per cent
per annum, this should be handed in mitigation of
the less The constituents of Governor Packer however,
had treasured up his recommendations and were de
termined that the 'scharactcr of Pennsylvania should
not be subjected any local inconsistency Their
terms are 70 take all the gains and TO repudatc all the
deficiencies The result is that the county has kept the
profit the dividends and the bondholders have taken
the loss on the shares In coniscatng merely about
20 per cent of her creditors claims Allegheny county
kept to the Pennsylvania standard. And the system
seems to bring its reward When Governor Packer
held up the State beacon he admitted that fact
with grateful alusion to Providence, at the
time warning the people not let their great virtue
| render them proud censorous less dsn-
| guished communities. Accordingly the State still
| fourishes, and her resources fructfy. The trea-
has just proposed 10 pay of $3.50 900 of debt
out of surplus revenue The Governor next year will,
therefore, have materials for address of congratu
atlon. A rev further meek words WILL however also be
required to chasten that tendency in his fellow citizens
selfcxaation which is the besettng danger of much
fame. The Philadelphia papers are already severely loud
in their thanks that their community is not other
communities. Pcnnsylvanans,' they say, ''may point
with proud satisfaction to the credit of their State What
other State in the Union indeed in Europe, is paying
steadily largely OF its Indebtedness? Not
Oh that the Rev Sydney was alive to witness this whole
rebuke Of his ISLANDERS on the drab coatsp Gov
Packer will doubtless tone down such phrases
to pride consistent with uncuous humility. AS the
boast is that other State in America Europe pays
like Pennsylvania, aud as New York, Massachusetts,
and the majority of the American governments meet
their debts the rate of 100 cents to the dollar the point
of excellence must be that Pennsylvania occasionally
only so cents But if this wping of one fifth Of her obi
cations constitutes her beacon in the pathway it will
temper her spirit Governor Packer should take the
next opportunity Of pointing that there some of
her ncighbors who wipe off ve-fhs. Michigan Mssis-
sippi Florida and Arkansas pay nothing Each is there
| fore five times as much beacon as Pennsylvania.