Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-04-24
From the New York Herald. |

Cyll war having Al IeuSLu UTOhcu Outs tsO "0i-
camille community have begun to examine its pro-
bable bearings on trade and the future of the coun
try On one point so far as we have been able to
ascertain, perfect unanmity exists among our mon
eyed men: the government must be sustained
Every one deplore the terrible calamity which has
befallen the republic But there is no desire among
the merchants and capitalists of New York to shirk
the ISSUE or to evade the responsibilities Of the con-
test Upon New York will devolve the chief burth-
en- of providing ways and means for the war; our
financial community accept the duty. and will per-
form it This view We find to be universal among
our moneyed men, including many whose sympa-
thies hel etofore have been with the South. If the
government prove true to the country it need not feel
any uneasiness about money. In the opinion OF our
leading bankers, hundred Millions over and above
the receipts of the government from customs and
land Sales il necessary to deray the expenses OF the
war for year from this date, could be readily bor
rowed in Wall street. at rate of interest certainly
not exceeding that which France and England paid
for the money they borrowed for the Russian war.
If for the purpose Of bringing the war to an end,
and settling this controversy Of ours forever, fur
Their sum be requisite it will be forthcoming. Wall
street, so far rs We can judge is ready to sustain
the government heartily and literally. An idea of
the intensity of the national feeling which pervades
terday morning thoughtless member of the Stock
Exchange who offered some United States skies on
sellers option. was instantly Kissed down by the
members of the board, and three resonant cheers
were called for and given for Major Anderson.
It is of course impossible to orsee at the present
time what shape the will take. In a CONNER
cial point of view much depends on the course of
the border States If Virginia secedes and the other
border slave States follow, the will probably be
long and disastrous All the Western hanks whose
circulation is secured by unwise deposits of border
slave State stocks must 60 to pieces; for these
stocks after secession, will hardly be worth twenty
five cents on the dollar. In this event. the contest
being one between slave States side and free
States on the other, it would in all probability in
volve accidents which could not but interfere with
the regular production of cotton rice tobacco and
the other Southern staples. Again. the difficulties
which must arise, in any case, with regard to the
navigation Of the Mississippi. will be greatly aggra
waited If Tennessee and Kentucky secede. Indeed,
at the present moment it seems difficult to conceive
any arrangement ~ which the free navigation of
the river by the Northwestern States could under
these circumstances be satisfactorily secured The
internal trade of the border slave States would in
any event be gravely disturbed and their usual pro-
duct of wheat, tobacco, &c, placed in jeopardy.
If, on the other hand, the border slave States
should remain faithful to the Union, the prospect
in the opinion of our moneyed men, is that the
would be short The Gulf States, they seem to
think, could not successfully contend against the
power of the North backed by Virginia, Kentucky
Missouri Tennessee, North Carolina and Arkansas
Want of means would speedily compel peace. In
this event. therefore, our mercantile community do
not think that trade would be fatally injured
severe blow would be inflicted upon the seaport
towns of the Gulf States, which would Of course be
blockaded by the fleets Of the United States; but
the planters would find outlet for their cotton
through Northern ports, and would not suffer very
materially. 1t is not understood that an invasion
of the Gulf States by Northern troops is contempla
ted in any quarter and there is therefore no reason
to apprehend that the culture of cotton would i'll
this case be mpcdedor disturbed. ''
So far as the city Of New York is concerned. the
outbreak Of civil war must be regarded as cancelling
the debts due by people in the seeding States to
our citizens. No accurate guess can be formed as
to the amount Of this Indebtedness. 1t may amount
to thrty-t may amount to sixty millions Of dollars.
No data exists upon which plausible estimate can
be based The aggregate sum is certainly very large,
and its reputation war is sure to involve
must lead to serious embarrassment in mercantile
circles, and to a large number Of failures among
houses in the Southern trade. 'r'.2. 7