The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-12-13

L -
The London journals received by the
Hansa view the commercial prospects of Eng
land in very gloomy light. What will become
/ Of the four or five millions dependent upon the
coston manufactures? they ask with anxious
interest,". Where are the new sources of the
cotton supply! Will India and the Islands,
Russia, France, Spain, Africa and Brazil yield
the required fibre, or are they mere idle boasts
OF the productive resources of those regions
that we have been listening to-! But, supposing
the raw material to be abundant, the demand
for the manufactured article at Manchester is
hardly sufficient to test the prices. Thousands
OF the spinners are already on half time, and
half time is a hard time, with vengeance
Other thousands are entirely adrift in conse-
quence OF the closing of mills, and sooner or
later famine and death threaten to overtake
them. There are no new markets opening to
make up for the closing Of those of the
South. And it is not alone in the cotton trade
that this paral yzation is felt It affects the silk
trade all over England equally in proportion,
and melancholy vista of idle looms tells
plainly enough of the disasters abroad, of the
revolution at home. The English NAV well
say that this last is the overwhelming cause Of
all that they are suffering in their manufac-
turing trade, and that mercantile as well as a
political frost seems to have overtaken the
country To add to these there are the great
calamities which have overtaken the fishing
trade, and plunged thousands into a state of
ruin and starvation
The importations Of British manufactures for
Northern use have Of late very much dimi-
nished and it is hardly matter for surprise
that mills in Lancashire and elsewhere should
have closed by the dozen already. Distress is
therefore, even now very prevalent in the
manufacturing districts in England; but
what will be its extent before the opening
Of the Southern market and the exporta.
ton Of American cotton? The English Jour-
nails do not hesitate to say that it is ter
rible to think of 1t is not in the cotton and silk
mills alone, however, that the effect Of this war is
felt in England, but in every branch of British
industry. And to add to the ruin and starva-
ton of the six millions dependent upon the
American cotton supply, Ireland is threatened
with another great famine, and, as conse-
quence, with another great exodus Of its popu-
laton, and, possibly, worse results for England.
country already burthened with taxation
amounting to three hundred and fifty millions
Of dollars.
If we look to France we find the horizon
dark and lowering; and, if We may judge
by the general opinion in Europe. sooner or
later Louis Napoleon must either dsarm or
send his armies over Europe to feed them
selves. This is onnous but true, The
rapid Increase Of the public funded Gebt Of
France during peace is unparalleled In 1916
it was only two hundred sa.d fifty three milliosas
Of dollars but in 1851 it had increased to nearly
ten hundred and seventy millions, and ac~
cogding to the last reliable return it has now
amounted to eighteen hundred millions.
Monstrous these figures appear however,
they are reasonable when we remember that
the ANNUAL expenditure Of Francs for long
time past has averaged no less than four hum
dred millions Of dollars sum always greatly
in excess 0? the public income To add to the
national desS there is now dedcis of two
hundred millions Of dollars to be provided for,
and another Fssiich Loan to meet it is seriously
mooted. But tiat will only be temporary
panacea, and terd to plunge the empire iato
still greater difficulties. An army Of six hun
dred thousand men, and naval ornaments gi-
gantic proportions, ase not to be very long srs-
tanned at the cost OF national ruin and popular
nisery. Either LouisNapoleon must dsarm or
there will be a revolution. Such a state of.
poverty is deplorable for France. and crushess
and humbles her in the'oyes Of neighboring go
v5rnrnents.
Her condition must have been, indeed, des-
gssrate when the Emperor resigned his control
Of inc State finances simply Because he was un-
atAs. to do anything wish, them calculated
to sustain the greatness, Of the en-
pire., The failure of the crops in
Fras8e, which has forced hass into this market
for hsr supply of breadstuffs; is % heavy disaster
for ag.. ana bread riots have already occurred
in Psafs Moreover, the WAR in this country
has AFFECTED her severely, iirsspoportion, it
has Fagiand Her silk weayprs have been
throlSu oas Of employ IN large num-
bers and thc demand for every article Of
Frcnfah asrrrsTactnrc which gJrmeTly found a
consitsissu.is- s,arkct in the United States has
amos,@ snfia1,ly subsidized for the time being.
70 aG j:ta, all this. she has beonsas much disap-
pointsii liz the working of hin Ang
treaty asher neighbor on the other side of the
ChmG9.. s5;'ls. stands suspiclo ~ and suspected
among nas hosss uncertain of saist n day may
bring iiit., fDr the horrors 'oS the situation
ia - ~, yet pressed upon her. Bat, sooner or
later ssitro, sassss como i convulson and crash.
irom the present aspect Is pablic affairs
in tts sha World, it is highly probable
that Tary France, Tscll rs England,
viii lHr esi.saeh to do witSsAs interfering in
the nsatirs OF Mexico and bs slssa TO recall her
iicet o. toke. care of home.
II hook TO Italy aod Austria we
fad hem both on tie ~fge Of insurrec--
tags.and beth inso.ycnt Hnigary is the fuse
wis IL wiz explode the she'll of Austria,
acss,tIen b. what splendid ,s,in will the empire,
BE-. laducyd as the Qua,kva.eral flies open a.,