The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-26

FINANCIAL DISTRESS AT THE NoKrH AND THE
SoUTH.-There Is one peculiarly about the pre-
sent financial revulsion which seems to have been
overlooked by the journals. Pennies, crises and
revulsions in this country have heretofore been
local and transitory In their character. Thus
the effects of the panic of 1924 were felt chiefly
in New York and New England; the revalsioA
Of 1887 radiated from two points-New Orleans
and New York; while In 1857 the West was ths
chief sufferer. New York was stunned by the
blow, but soon recovered. The South scarcely
felt It. The present crisis Is entirely different
In Its inception, Its developement, its progress
and its extent springing entirely from poIi6-
cal causes, the revulsion Of 1862 will per-
meate through the whole country. 1t Il not
possible that any nation can 90 through with Q
revolution such as that which the republican
party has taken the responsibility of creating
without very serious damage to its commercial
and industrial interests. We trust that war
win be avoided but in any event the result
we have indicated is inevitable. The merchant,
the mechanic, the professional man, the artist,
indeed every individual in tho community,
must bear his or her share of the black repub-
lican cross. Phillips & Co. declare that to die
in such cause Is gain. These are the disunion-
lists Of the North. On the other hand, the extre-
mists Of the South glory in their attitude, and
declare that they will starve sooner than give
way an inch. This, however, Is only the opinion
of the advanced wings of both parties. Some con-
verts are gained on either side by the course Of
the partisan press. The New York CORES
pondents of Southern papers declare on their
side that we are all in danger Of
being murdered in our beds by the
starving poor, who intend to sack Wall
street, plunder the banks, and mako
Rome howl generally. One correspondent de-
clares that there are in New York no less than
fifty thousand persons who are dependent upon
charity for their daily bread. These state
ments are met by the black republican jour
nails with the cool assertion that there Is no
distress, that nobody is hurt, that employment
is abundant and wages good, and that the fifty
Thousand mendicant story is "nothing more
than preposterous MuncheNsenism" The
facts are quite to the contrary Of this state
nent. The Association for the Improvement
of the Condition of tho Poor" came out last
week imam "appeal in behalf of our suffering
poor" Twenty thousc0d five handted and
seventy.two persons are now receiving aid
from this association; eight Thousand outdoor
poor depend upon the Commissioners of Chart
ties and Correction, and every church in
the city has its quota of applicants.
With these cruel facts, before us, we
should judge that the fifty thousand state
ment was low estimate. In the South, We
have no doubt, there is likewise considerable
pecuniary distress of different character, or
rather among different class Of persons Tho
Southern press, however, oonceals the facts,
and the amount of graveYarawhistling on both
sides of Mason and Dixon's line is not among
the most agreeable signs of the times
FOREIGN OPINIONS CONCERNING THE LINCOLN
ADMINIsTRAgION.-Th latter part of Mr.. Bu-
chanan's administration was severely criticised
abroad; but now we find the foreign press 'stig
matiziDg tho Lincoln administration as imbe-
Gle, where the former was only said to be
weak or peTverse. While FIR. Buchanan pro-
fessed to be powerless, Mr.. Lincoln acknow-
lodges the same thing by acts. Butlittle doubt
now remains that the Southern confederacy will
be acknowledged by foreign governments, for
upon what 2xetence, 1t is asked, can these refuse
when the government at Washington has itself
acknowledged its independence by tho very
act of abandoning Fort Sumter? Even. the
Northern self destructive Merrill tariffs enough.
<o L. r. G.,
confederaey to be welcomed in Europe. The
events which have occurred since the election 0e
Lincoln are accepted as Indications that no othsR
immediate solution than.a reconstruction of tho
United States as two separate confedsracias
can present itself. Perhaps, it is remarked.
nothing could, on the yshole, be better for tho
cause Of humanity. "In the meantime Mr..
Lincoln and his government appear like inbs-
Giles beneath contempt" 1t will thus be seen
that the vague, unmaaly and indeeisive policy
which the Lincoln administration are pursuing
is working its i'll effects elsewhere than at
horne. Not hand, is put forward to. the res
cue, although the Uaion raft has lost seven Of
its. timb.rs and 10 on the verge Of losing
another; and there Is no telling, In its present
shaken and drifting condition, how many moro
o5 the remaining twenty six may folaow.
THE CHEvAIAsR FoRSEY WITH ANOTHER RCss
OF THE KrTcuyS-While "Hcaest Old Abe'sse
Cabinet is distracted and divided by the squab.-
bles of the Weed and Greeley factions over tho
spoils the Cheval,er Forpey, it seems, i&
Familiarity oultivating sold, Abe's" new whisk-
ers For19v has found crt the weak siSo ~