Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1860-06-16
The Financial Condition of Austria.

The desperate condition Of Austria and its inabili-
ty to take part in the political struggles Of Italy if
it was disposed so to do is shown in the terrible de-
rangement of its finances. For eight years, com
mencing with IS4S and ending with 1855, nearly all
of which were years of peace, the annual eroess Of
expenses above receipts was twenty millions of dol
lars year. For the next three years the deficiency
was vastly larger as it embraced the war in Italy
Other expenses. to be met by extraordinary means
amounted to S4lO,OOOOOO and the extraordinary
means resord to were loans the issue Of notes and
the sale of railroads In this manner sum amount
ing to about S62O,OOOOOO was raised, and this sum,
after covering the existing deficit of s6OO,OOOOOO,
left about 100000 to begin the year 1856 with.
This excess was swallowed up by the deficit of the
next year. and until the war, new deficit went on,
steadily accommodating, even with an accelerated
pace. Previously to 1913, it should be mentioned
that the debt already amounted to 4jOOOO,OOO, and
it has since been more than doubled by loans con-
tracted at home and abroad, always on ruinOus
terms In addition to this debt, the State in 1857
owed the National Bank SlOOOOO,0OO; an obligation
contracted since lS46. After the sale Of the rail
ways etc. before alluded to- it was reduced by $780,
600 OOO but since that time it has far exceeded its
original proportions On the first Of December last
the bank had less than s4OOOO,OOO in reserve, and
had issued notes representing nearly S24OOOO,OOO.
During the Italian War this bank lent the State
100000 600 in paper and $50 100000 in specie. The
interest on these loans is two per cent
The nation seems to have no resource left She
has sold her crown lands, her railroads, and al
ether property attached to the crown, ard has no
means of paying off the enormous sums already
due but fresh loans, when her credit is already be-
low zero, and fresh taxes, when those already I'M
posed are so severe that they consume almost the
entire products of labor 1t is impossible to attempt
reform The increase of the public burdens Is due
to the enormous increase of the army. The Em-
peror will not hear of a reduction, and indeed re-
duction would be the signal Of instantaneous revo-
luton. 1t is not wonderful that under such circum
stances, treachery, roguery, and every species OF
vice that springs from corruption, should flourish
with extraordinary vigor throughout the whole
corps Of Austrian officials, including even the army,
and that Baron BRUCE should have cut his throat in
despair at the prospects before him.
The Outrage upon the People OF Sc. Louis.
There was a tremendous outpouring of the people
of ST. Louis Tuesday night to express their ind;gua-
ton at the recent action Of Congress in regard to
the contested seat Tor Representative from that dis
trict The crowd in attendance is estimated at from
five thousand to seven thousand. The rebuke which
the people administered to those who would tamper
with their votes was pointed and emphatic.
The friends of Mr.. BLAIR got up meeting at the
same time to ratify the action Of the House of Rep
resentatives butt a meagre affair in compari-
son with the other, and showed conclusively that
there there the facts were known his own party
would not sanction the outrage. A Geographic dis
match from Mr. BLAIR was read, stating that he
would resign at the end Of the present session. and
return to the people the right of eectiug their own
Representative But the indignation Of the people of
St Louis at the outrage committed upon their rights
seems to have driven him from his purpose already,
for the telegraph informs US that he has actually re-
signed 1t will remain now for the people OF St. Louis
10 indcate their rights byreturning Mr. BARRETT to
] the scat from which he was so uhJusty ousted.
FLORIDA PoLrrrcs.-The Democrats of Florida have
nominated Gen JOHN MmToN for Governor and R.
/ B. Huron for Congress.