The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-07-31

Politics ara Trade I'm Europe-Prepara-
lions for = Contest.
The growth of the times is eminently propi-
tious to the preparations of the opposing dy-
nasties in Europe and Asia, and all of them are
exhibiting great energy in preparing for an
other conflict between the old aud the new,
which is steadily approaching.
Never were the arsenals of Europe in q more
active state than at present. England is pre-
pairing hundreds of the Armstrong guns, calcu-
lated to throw shot of hundred pounds weight,
to say nothing Of minor material. France is
pushing her steel-clad ships to a state of COM
pletion, in order to bring new instrument to
the contest for the supremacy of the seas.
Austria is pouring hundreds of thousands of
men, and immense quantities of war material,
into Venice and the quadrilsteral, In the hope
to preserve there q barrier against the tide of
dissatisfied nationalities which menaces her
Heterogeneous empire with dissolution Sar-
DINA is gathering and organizing hundreds
Of thousands of Italians and Sicilians
under the banners of Italian unity. Naples and
the Papacy stand on the brink of conflict with
presenting the spectacle of dissolution of the
Mohammedan temporal power, after thousand
years Of exclusiveism, and the crescent is
evidently waning in food of Christian
blood. Russia is preparing for religious cru.
SADIE, which will sweep southwark with all the
energy and ten times the vigor and enlighten.
ment that characterized the overrunning of the
old Byzantian empire. And France and Eng
land jointly are preparing for another conflict
at the antipodes with the Oldest of the semi.
barbarian Powers in the East.
The central point of observation at this time,
in all these signs Of war, is Sicily. There the
name and presence of Garibaldi have given life
and vigor to the revolutionary efforts of the
new ideas that now animate the world Unfor-
tunately the heroic Garibaldi is not so able in
organizing the new as he is in animating men
to sweep away the evils of the old. Twice
hasI his government in Palermo been
broken up by internal dissensions. and
he finds his march upon Messina, although
there has been some splendid fighting, to
complete the liberation of the island. re-
tarded by these causes-by the indisposition of
the Sicilians to make steady and united effort
to fee their country, and by the heat of the
summer season. These delays are giving the
old Powers breathing time, in which to seek
safety through new complications. Young
Bomba tenders his people a constitution, the
Pope seeks q new combination with France,
and Austria prepares to resist Sardinia with an
overwhelming force at a moments warning.
From these causes, no doubt, emanates the eva
sive reply of Garibaldi to the Neapolitans, die.
tated no doubt by Louis Napoleon, who wishes
To carry out the idea of Italian unity, but with
out producing grave and imminent complica-
tons.
To the immense expenditure necessary in all
these preparations the state of the financial
world has been eminently favorable. Com
merce has been prosperous everywhere, the
crops have been abundant, and capital has &C
cumulated in vast sums at all the great money
centres, seeking employment. That employ
ment has not been forthcoming. The
great enterprises of public utility,
which require long continued expenditure
in construction, have not yet recovered from the
effects of the panic and revulsion of 1857.
Neither in this country, England, France nor
Germany are any great public works being
theoretically prosecuted. Spain and Russia are
alone engaged In the active construction of
great systems of railroads and public works
The easy money market and the prosperity of
the general revenue therefore enable both the
old and the new dynasties to continue their
system of enormous expenditure. The result
of this state Of things Is evident. The dynasties
are preparing for general and sweeping war,
and the elements Of material prosperity are
gathering for another period of activity and ex-
panson. Which will first obtain control of the
course Of affairs is not yet evident The mer-
chants ledger, which is now the great school
and guide of statesmanship, is undoubtedly on
the side of the new order Of things, and will
strive to prevent a general war. But the old
feudal order of the aristocratic and theocratic
classes will not give up without contest,
which they hope to make simultaneous and uni
versal, but which the Napoleonic idea is TO pass
through piecemeal, thereby securing a perma-
nent triumph for the new.
The ELECTION IN NORTH CARoIINA-TBr
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