The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-21

winter is over.
The Reaction Of Our Political Troubles
Abroad-The English Press Waking UP
TO Its Dangers.
The Persia brings out over three millions of
dollars in gold. The drain, continued al this
rate for some weeks longer, cannot fail to open
the eyes of the mercantile community in Eng
land and elsewhere to the stern realities of our
situation.
The English press is, we are glad to see, be-
ginning TO exhibit juster appreciation of the
existing state Of things than was apparent from
its first comments on the secession movement.
1t percciyes now that the confident tone of the
republican journals, from which 1t took its i'm
pressons of the effect of Lincoln's election re-
fectcd but the feeling of faction which had
secured a triumph only through the division
of its opponents. The gloom and discourage
ment that have subsequently pervaded the adj
vices from this side, if they have not entirely
convinced them of the imminency of the dan
gers impending over the Union, have al all
events suggested doubts whether their interests
are not going to be alarmingly affected by the
continuance Of the present agitation.
They will not remain long in uncertainty up
on this point. The news that went out by the
last two steamers, and the intelligence of the
actual secession of South Carolina, which will go
out by the steamer tomorrow, must satisfy them
that the present movement on the part of the
South is no vaporing demonstration, such as the
republicans pretend but the result Of well con-
sidered and long determined action, in view of
an event which ii regarded as pregnant with
menace 10 its institutions. The great centres Of
industry in England, once impressed with this
fact, cannot fail to appreciate its ruinous conse-
quences TO their own interests. They are al
most as much identified with the prosperity of
the Southern States as are the mercantile COM
munity Of New York. They are conscious that
what deprcsses or Injuries the former must
obstruct the regular and healthy progress Of
their own operations. They are in reality no more
favorable to abolitionism than are the people
of this city, amongst whom neither abolition
journals nor abolition incendiaries find en-
enlargement. They know as well as we do
hat secession means civil war, and that civil
war must bring about an almost total
suspension of those staple productions Of the
South and Northwest which keep the manufac-
turing industry Of Great Britain alive, and pre-
serve her overcrowded population from the
pinchings of want.
But, in addition to these prospects, disquiet-
ing as they are, there are others which cannot
fail to make themselves painfully felt in Eu
rope. II is impossible that the disturbance 81
such vast commercial interests. and the enor
nous losses which ii entails, should not be foi
lowed by political consequences Of graycr
character. Such widespread commercial re-
vulsions rarely occur without bringing in
their train revolution and anarchy. With the
knowledge of this truth before them, who can
foretell where the results Of an agitation. COM
menced by few crazy fanatics, and taken up
stone to power, will end. From the clamorings
Of discharged and starving mechanics and pro-
letarians they may assume the form Of resist
ance TO organized government, with the demo
lition Of existing institutions as their object
If the Southern States secede let the European
nations prepare for sudden and violent changes
in their own condition. The axiom that scot
tVu - hiuB ~ pSihoPS uSrtiHcu W TeCeive u
more sweeping and sangunary illustration than
any other that those with whom II is a pet
saying have as yet dreamt Of.
FoRGERIEs on THE NAMES OF THE PRESIDENT
AND PRESIDENT ELEcT.-These are times which
equally try the souls Of statesmen and the mo-
raj and intellectual calbre of journalists. One
portion Of the republican press is now exhibit
ing it's corruption and depravity by urging
civil war, the end and the consequences OF which
no man can forescc, and are heaping obloquy
and reproach upon the head Of the President
because he viii not inaugurate the bloody con-
act at Charleston, and bequcash II rs legacy
10 bis successor. Tecansc he will not initiate
Cesar Of old who crossed the Rubcon and
waged q war upon his fellow countrymen.
which resulted In the establishment Of an i'm
rerial despotism upon the ruins Of Roman