The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-22
ADDITIONAL FROM EUROPE.
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Arrival of the Edinburg and
Mails of the Bohemian.
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Lord Palmerston on the Southern Blockade and
the Rights Of De Jure Governments.
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ARRIVAL OF A COTTON SHIP In LIVERPOOL
The English Press OH the Policy Of an
American Money Loan.
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INTERESTING NEWS FROM IRELAND
Destitution of Hundreds OF English
Mechanics,
&C., &c, &c.
ARRIVAL OF A COTTON SHIP IN LIVERPOOL

The Eiinburg has the following
SPECIE LIST.
Nathaniel Sands. f5C0
W r. o. Tyler Co... ................'.....'. 5eo
Hawley & Howe. ......................s... 800
Thornton, Watson ......................... 447
Order ACKNOWLEDGEMENTS. ,120
Total f8 536
W....-. VII oe0
The mails of the Bohemian reached this city from
Quebec yesterday morning.
From these sources we have our European files com
peted to the sh of August which enables to publish
the following interesting details of the news to-day.
Chances OF an American Loan, II Needed,
I'm London.
from the London Times Getty artcle), August 81
A number OF communications have been received,
bearing the financial and commercial aspects Of the
American struggle and especially on the question of
loan in this country The latter point, however,
already to have received attention than deserves
since is not to be supposed that people would
far violate the rational warnings Of their govern
ment as to break the desired neutrality and supply the
means for proongng and aggravatng the war; However
greatly the federal government may wish 10 obtain a
foreign loan at this moment they could meet with nc
worse misfortune than that Of obtaining it, since it would
not only weaken all disposition to cncr into those pacific
negotiations which sooner later must take place between
the two sections but by making the country tributary To
England for the interest of an outlay which before
many years have passed will be rendered by all with
modification and horror, would also diminish the induce
ments to future friendship for u.s. In however
persons should greve at being dcbarred by prnci
pies of morality from speculation which may appear
tempting it may be useful insert the following which
embraces most Of the practical that might be
likely to inspire caution Its tone characterized by
little asperity, which is undesirable at when
every word gives offence, but this is chiefly from the
pleasant nature Of the facts that summarizes and
also to be borne in mind that the federal by
endeavoring to draw in financial parties to the
ic have forced those who CANCER in such contin
gency, to put forth their views in opposition to it,
S-As the government of the United States propose to
come Into European markets for loan of 500 000
IL
whether United States per stock at go not
redeemable for twenty years, and then only at the OPP
ton Of the borrowers would be an eligible investment
Let how their credit stands at home They have
already been borrowers at per cent per month Their
United States SKIES redeemabe next year stood the
9Th of July at 92z-New York State skies being the
same date at par These quotations may to ndi-
cate the local estimation of the comparative values of the
two securities New York and Massachusetts proba-
bly, good any portion of the loan that might be endorsed
by them but it must not be forgotten that New York has
been built up by Southern and Western trade;
quenty the former is lost TO 1t and much Of the latter
diverted, the taxable aTaces of New York. well
oil the New England States will be considerably dim
nished. The federal debt is at present undoubtedly
small, and there can be no question to the wealth.
population of the Northern States but IL
sources and population alone constituted security,
should see Spanish bonds nearer par We must rcmem
Der that IL Is a fixed principle of United States law
laid down by Judge Story-that II is illegal to pay any
debt to an individual living in n State with which the
United States at war, ransom debt alone except
ed. As TO the observance Of this law have
the united testimony of the North that Southern States
least OF the Union they have solcmnly abured On
the other hand know that the of the fede
rats actedupon this principle in the Of the Texas
indemnity bonds and again later in forbndng the mint
to part with gold deposited by Of the Georgia banks
Such being the law Of the United States and the
tice of both fcderalists and confederaes when
among themselves what would be the prospects for our
principal and interest if found ourselves involved
the war with which they so constantly threaten Us
Again. supposng the Union re-estabshed how will the
SOUTH coerced back look al debt incurred for its subu
cation? Would an uncomfortable democracy quietly sub
Enronean c % the other hsn% he
free States DO not attain their passionate desire to be
united to the Southern slave States- the South
be coerced back into the Union and the principle of
cession is recognized established and triumphant-to
what TO look the United States? Where is secession
10 stop, and to which Of the States shall eventually
have to look for Shall trust the Federation
until whether there any cenrpetral force in
the resduary States2 Or shall BIO content to look
% hel % e s
Ne England States may be good for their
shares but three of their Northern well three
Of their Southern sisters have had their characters dam
aged by Reputation Iowa has just bad local repu
taon the others have European STAIN and Tennessee
is looked upon very suspciousy in Wall street. account
Of recent acts of its State Legislature 1t Is notorious
that the American people very jealous Of taxation.
AS to the extent Of their taxable capacities that
question of opinion 1t is generally allowed that Mr.
Chase has greatly exaggerated the realized property Of
the country and in one instancethat Of 0hiohe faa
cousness OF his figures has been clearly exposed In
diana and Illinois have lately been in the market for loans
TO meet the requirements Of their State expenditure The
former was taken at low rate the latter had to be with
drawn II they are obliged to borrow for State require
ments what is the prospect of their being able bear
additional direct taxation for federal purposes2 II is
said that certain customs duties be devoted to the
payment Of the interest OF this loan. II this be true is
great fall for America to be giving pledges like Mexc
or Turkey but II Is in reality no security for this simple
reason that the laws Of the United States are interpreted
by elective Judiciary, which Is paid for interpreting
them according TO- the win Of the people Witness the
procedure relative TO the question Of begerent rights
which they interpreted contrary to Wheaton, and
and her colonies; also, the blockade of theiI
own ports, although not many months previously
they had held that Francis II. could not block
adc his Sician ports; and next, their recent
haste to into the Paris treaty declaring p1ivat
teerng piracy after having been the strenuous opponents
of that great step in civilization They enunciate
feature in international law by attempting 70 collect
import duties outside their harborsin fact on the open
Their whole Of action In this matter Of the
federalists claim that they have majority of Unionsts
with them in the South and yet they persist in running
the trade Of Northern and Southern friends merely to
ure the recusan minority secondly it rs utterly imposs
BILE TO stop the trade. You may well attempt to dam
the Mississippi prevent cotton worth nine cents in New
Orleans finding ts way TO New York Liverpool and bos-
ton where it is worth nearly double. Freights Of 3D.
per pound from coast 900 miles in extent, will enlist
the sympathes Of Northern shipowners who present
find their occupation gone. They have been the chief
supporters of the slave trade Let hope that they will
forsake that inhuman traffic for the respectable
ing Of smugglers No capitalist who has the interest
this country really heart will endorse the proposed
by his agency. The only fear Of its being attempted
ITOH the ~normOus OrlOe tnat MT CndSe mas u IN MI
power TO oiler-one such as was never before placed
the hands Of any Minister in any free country. Il Is
fact that not only the price and the Of this
but the where the when and the how IL is TO be raise
intrusted solely TO Mr. Chase. Further he has tn
power TO fix the rate OF exchange at which interest an<
principal to be RENTED. This will involve transac
lions Of FL 400 900 per for interest," amounting
twenty years to f2S 900 900.
The British Premier ON the Northern
Army and Press.
THE SOUTH IS DE JuRE INDEPENDENT IN FACE O
THE BLOCKADE.
GFrom the London Post government organ) August 8
Three acknowledgements have returned to New Yorl
and have met with enthusiastic reception Whethe
these regiments composed Of ninety days servic
men, who left the field Of battle when the enemys cal
sounding in their ears, the telegraph does
Liam Nm XAri IL