The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-22

fed will be interpreted by many expression Of con-
hdcnce that the present abundance q capital Is ke'y
continue The question consequently is-can inns idea
be safely held?
Nothg but sudden settlement n nc Asserican struggle,
which however probable few months back, seems now
beyond anticipation could the ftl MEATS u s,ptcy
em for capitaI Not only win tho bills Of exchange
sent $50 900 oo0> or f4O,OOO,OC0 worth Of cotton
cease to appear, but tho vast home circulation Of
paper hich should represent the industry Of Lancas'~
and the constant extension ~ 80 .-..,s
red'ce3' -, .n..s. ,,sII hs grenty
... ana although new business viii rio, 10 N ''
xnd rs Substitutes with India and or oo,n,,os ,,;s
process mrs. be gradual Al the me time TO- whatever
feet Inc Consumption Of IN Lancashire may a
VIII be proportonate redur on in the necessity for i'm
be pauer hv when th IN the creation of the ncgoa
stock banks % and mV dss. are carried on The iont
fore, TO have little bity to offer temptatios to de-
,bss. anne me h"Fs demand being thus restricted
o. .hsr inc exchanges between England aud MI
o " NV - are favorable, with prospect in several
uses o. sn n becoming still more 1t was stated at
zig pesp Eng of the year in the face OF general contra
ao.o, That the American crisis could cause no with
M W. |of specie from us and II turned out that although
w wire required to ship largo amounts to New YORK,
~ Were relieved to much greater extent OF the ordi-
<ry charge Of making shipments American acconntto
tho Fast and elsewhere that although need for
wheat exceeded all anticipatons, we were actually ena
bed to obtain full supply without any material drain
Of gold from the Bank. Now that our grain require,
mens reduced to normal amount, and
| the American markets, on the Other hand, mare
been starred TO tlnprecedently lao point, as
regards Etuoredn and Eastern produce the GER
tanty that the specie operations between the two hem
spheres must be in our favor Is still greater. In Ike
manner whom fears were expressed the
men that the Bank Of France would be obliged to seek
help from London, and decline in consos occurred IN
consequence was equally plain that the measure should
have caused confidence nstead of depression u simply
arose from tho tendency Of bullion to seek this country
and we that we have reserve OF capital
in Paris-consistng of whatever amount may have been
attracted thher by the difference between and 80 per
cent-whch will be available the moment there is any
symptom here Of to higher rates Another fact
OF great Importance tia, the stocks Of most descriptions Of
imported goods in The warehouses Of TIE United Kingdom
hnoun 10 be on fnH scd'ea natural result Of the cong-
nies made from distant parts before the American struggle
had gren check 10 commerce. and of the reduction which
that struggle has occasoned in the export demand in
markets. Looking at all these circumstances, and at the
consideration that while the circulation of cotton grain
and produce bills must be thus affected sure also
TO be deferred from any wild access Of speculaon-not
merely by the approach of tie January when political
alarms aways expected to be awakened Paris but
likeacise, ty The hostile manifestations Of Mr. Selcard al
Neutrality-suspicious. seems good rsason 10 anticipate that the
supply Of money must for TIM continue considerably in
ercsss Of the commercial ,odnts Of he country Should
such not be the case shall have FOR congratu
ttion, aud in the interval is fortunate that the higher
rates in Paris have prevented the glut from being
great as would otherwise have been experienced.
DANGER AND DIFFICULTIES ON THE FRONTIER or
CANADIAN AMERICAN ARMED INTRUSION ON THE
SOIL.
[Frcm the London Post government organ) Nov. Of
1t cannot be doubted that Lord Monck has assumed the
government of Canada at very critical time. Civil war
RACES in the ncghborng republic and Northern states
men and Northern newspaper writers have not hestaed
TO declare that they regard the conquest and
ton OF Canada matters Of easy accomplishment. The
signal and continued want of which has attended
the federal ought to afford sufficient commentary
upon the threats Of these vaporing boosters who talk
the invasion Of friendly and neutral State precisely in
the Same style that Walker and his companions used when
about TO devasatc Nicaragua. All that be said in
PLANTATION of this offensive language Is that 1t embraces the
first assertion Of national "1ibus,ersm the part
people calling themselves civilized The Northern States
may think that insult to England is likely
the Union " en'iaing the syrdhies Of all parties IN the
republic IN me e mon eare, than the perpeuation Of
civil contest which, as far the ederalists
cerned has certainly been accompanied by no riImpls
We feel convinced that the sccessonsts would rather
ally themselves to England than return the domiu
OF government which they have cast Off inconsistent
with their political rights and commercial independence
| We regret TO say that feeling Of deep hostility
| has been engcndered in Cana.a in consequence
| OF the outrageous language which has recently
been held by the United States. case has recently
| occurred which exhibits tho very little respect
with which tho federal authorities disposed
gard the soil Of Canada The territories Of the
2lst of September captain and five men, belonging to
the American army, entered Gosfcld, the Canada SIZE
In search Of four deserers The captain when he was
asked his authority, said that he would take these
back dead alive and then went into the bush search
Of them. Mr. Billings, Justice Of the Peace Gosleld
upon hearing OF this extraordinary preceding called
few Of his neghbors and desired them bring their
rifles with them Having thus assembled the posse c1
dtns Mr. Billings waited the return Of the American
| officer, who in the evening appeared with the four de-
sertels IN custody Upon again asking for his autho
| Of the Eighth Michigan regiment. empowering
| him Ito take dcserters wherever he could find
them Mr.. Billings then stated that the captain lad no
right to be ON that side of the river that these
under the protection of the British flag were at
liberty to go wherever they pleased. The American
officer, who was in uniform then marched back and tho
four deserers, who were also In American uniform,
quietly returned to their farm work in the bush Ii this
narrative were reversed If an English officer with Eng
sh soldiers had entered the United States territory to
reclaim deserters never should have heard the eEd
OF the outrageous insult which the Britshers had offered
TO the matte nal dignity Of the United States We mention
this case N American ignorance folly rs one
of those episodes which may unfortunately occur in
consequence Of the close proximity of the two
frontiers The Canadian justice OF the peace acted
with becoming spirit ia thus quietly que'ling qchds
fact, may be regarded an inprsion of the ,o,lnce
iehoat putting the perpetrators in the stocks Of, handn1
them orcr TO the parish constable The whole affair would
be simply ridiculous, If it did not show the loose prac
tees which may prevail when side or the river
there is large force OF undiscipned men, ready
70 desert and others ready to pursue and the other
there is nobody but justice OF the peace ana few
neghbors to assert the dignity of the British Com
ticati0ns Of serious character, afraid maj
a ads { S sa,. a to- e s r a Me oe and s
rub,c an both cotries The appointment OF Lord Monck
has given great satisfaction IN Canada and he may rest
assured that in boldly unfolding til. independence OF the
province he VIII have the support Of loyal and united
people.
| ENGLISH COMMENTS ON THE BATTLE OF IsrsDyrRG
From the London Times, November o.
Those who have taken their views Of the American
civil the reprcsen tatous Of the North must
now begin to have some doubts Of their own wisdom
Happy it for England and happy will it be- we believe
Tor America that they are small minority, aud that the
i
portant matter Had government and people been
led away in the early part Of this year cheer on the
crusade Of the North to echo its assertions about the
weakness or the scossionist movement and to oin in
predicting the Unions speedy victory what would have
been our position now? Instead of standing in decent
neutrality between two powerful and ncenscd nations
for must they be called instead Of being able
when the time comes, TO speak with tie calm Of
impartiay and the confidence derived from ust
ancirations we should have been merely set of
partisans, doomed to explain away hasty enthu.
sasm. Whatever may be the end Of this American
contest, Fngishmen will DO happy that they com.
SEIZED peace Should the Confederaes establish their IN
dependence they will not be able accuse us Of irving
strange their nationality the cradle. Should the pre-
sent differences result in transaction nv which the
old Union shall be soldered together FOR time then ne
Their party will have il to say that the burdens left be
season of civil strife were increased by evil conses
ything were needed 10 confirm this country in ts
policy. the present situation Of affairs would DO quite
enough 1t is now plain that this must be gigantic war
II is but four or five months since we were told TINT
single encounter would decide matters Those who pro
fessed to know the characters Of the Soherner and his
opponent assured US that the former was a mere noisy
swaggerer, who might fight pretty well for a single day
but would be soon overthrow by the moral man OF
the North How complete has been the mistake of those
who took this view of the combaants may be Judged from
| the present state Of the campaign.
But the event from which we can pan tho hos.
into the Of the campaign is the severe defeat
L hsaI