The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1861-10-09

According to the following from the
New York Herald, the war must prove,
commercially considered, blessing to this
country. While some Of the conclusions |
are correct, We cannot accept the whole,
as reasonable
The prospect Of a renewal of specie i'm
portatuns from Europe is engaging attcn
ton. We have already received $40, 900
900 in gold this year from Europe, in
part payment OF the breadstuiis which We
have supplied to that continent. 1t seems
that the wahts Of the Europeans are COM
polling them to purchase more heavily
than ever, and hence exchange is rapidly
falling to point which will again leave
a handsome profit on imports of gold
The gradual effect of the war on the trade
between this country and Europe is well
described In recent fnonclal circular Is.
sued hy New York banking house, Our
importations will show decline this year
Of $50 DO0, U0O--the articles ceasing to
be imported consisting mainly OF manu-
featured cottons, woocns, silks, linens,
hardware, jewery, and objects of art and
luxury, the products OF British and French
industry. The war thus costs England
and France a market for $3.50 900, 900
worth per annnm of the products OF their
Industry, and saves US an unnecessary ex-
penditure of a like sum. On the other
hand, our xports-omitting cotton from
view for the present--wlll show very
large increase over former years, they be-
ing articles Of absolute necessity, with
which Europe cannot dispense. The
United States are, In fact, SO independent
and sef-sufhcing country that they cal
al moments notice reduce their con
sumption Of foreign goods one-half, with
ont Inconvenience whereas, Europe can
not reduce her importations from thi
country without inilicting a direct injur'
on her people Ii this war lasts two o
three years it will make New York tn,
centre of the commercial world and Lon
don mere outpost AS long az the wa
lasts, our tariff and the temper Of our PEG
pic will prevent the consumption of for
eign goods here, and thus, by the tim,
the war ends, our manufacturers will no
only be as well prepared to supply oul
home market as British manufacturers ar,
to supply theirs, but they will be ready t,
compete successfully with Great Britain
In the South American and Asiatic mar
kets Thus We shall thenceiorth impor
nothing from abroad except such rs tea
coffee, sugar, hides, wines. &c, while Eu
rope will still be compelled to purchas
here, as the cheapest market, enough corr
wheat, flour, provisions, cotton and Il
bacco, to leave handsome annual halane
III our favor. This balance will have
be paid IN gold. II may happen once
twice IN generation that general crc
failure here, occurring simultaneously wit
bounteous crop in Eurnpe, may reyer
the ordinary course of trade, and comp
US to pay for our tea, coffee, sugar AT
hides with gold But the general ru
will BE- that England, after paying for
the tea, sugar, coffee, hides, &c, While
We consume, by bills on New York, wi
still have u send US, annually, some for
to fifty millions in specie, TO pay for Il
f,od and the cotton and the tobacco whit
she ca no, help taking from rs The chan!
has begun already; the signs Of the #
ture may be discerned By all who stut
By the history Of the past.