Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1861-05-16

England.
The New York Evening Post observes:
Whatever slight alarm the public may ha, o
felt some months ago about the possible
recognition Of our mutineers sham govern
ment by the powers of Europe, has nearly
died out. Nevertheless we hear from Mr.
Davis and his coufederates that they still be-
guile themselves with hopes of diplomatic
acquaintance abroad. They hope in vain.
Our people have not shown themselves will
ing to see the Z nion severed. The nation is
reused as one man TO defend that which is ss
dear to it as life, because it is it's life. But
even if we Were cold-hearted, the govern
ments Of England and France would not, for
the interests of their own subjects, take "any
hasty or prtcipitate action on the subiecth
TO use the words Of Thouvenel, tho French
Minister of Foreign Affairs.
For many years we have relied in good
part on European capital TO push forward
our railroad enterprises, our city improve
ments and many other schemes requiring
immense outlays and promising a higher
return in interest thanlj to be obtained in
Europe. No railroad of Importance has been
built in this country without aid from foreign
capitalists. Scarce any city, county or state
but counts among its creditors q share oil
Europeans.
Wien Mississippi repudiated her ten mill
ions, the outcry was even greater In England
than here. The largest losers by the uufor-
tunate Wabash Canal failure in Indiana were
foreigners. Our United States and varioua
State stocks are held, to large amounts IN
England and France; and the foreign inter-
est in our railroads is almost as important as
our own.
Now the capitalists of Europe comprehend
quite rs clearly as our own that the security
and profitableness of their investments of this
kind depend entirely on the prospering and
regular growth of the country, and that these
will be perilled, if not destroyed, by the sew
erance Of this Union. They know that the
peaceable continuance of this people as
united nation is the one thing, before all
others, necessary to the welfare of their in
vestments.
They, who have made political economy a
study, see very clearly that our immense
advance in wealth of all kinds has been
caused, to great extent, by that system OF
unobstTucted continental free trade which
would cease the moment two nations tool,
the place Of one. They comprehend that
more even than our cheap and fertile lands
it is our free institutions, our peaceful stua.
ton, remote from the entanglements Of
European politics, and our consequent ability
TO devote all our powers to healthy produc.
tion, which make us people safe to lend
money to.
They know very well that with two ma
| tions each jealous of the other, and each
| guarding by armed forces against the others
! encroachments, the prosperity which has al
ready in so few years turned our wilderness
! into cultivated fields, would receive seriou:
| check. They have not watched in vain the
! spectacle in Europe Of two nations playing
the splendid but ruinous game of "BeggaI
my neighbour" taking their woTkmen from
| the fields and benches to train them to the
unproductive trade of arms; their people
! consumed by taxes spent in preparations not
for production, but for destruction; theil
substance wasted by standing armies; theil
/ commercial enterprises risked by ever
impending wars; their greatest natioua
prosperity rendered useless to the nation by
the intolerable burden Of never ceasing pre-
parations for destruction.
/ 1t has been our singular fortune, as na-
ton, to be removed, by our place on the
map, from all the "entangDement of foreign
alliances" We have had no jealous neigh.
| bors on our borders, ready TO complain o
our too great prosperity, or by their owl
| encToacbments 10 keep us in feyerish alarms
We have had no "balance of powern tC
maintain by costly armies. We alone of al
the civilized nations of the world have es
| capped by our remote eituation, that fata
choice Of bullying or being bullied, which il
]
/ of every European people.
| 1t is these considerations which have made
the capitalists of Europe ready to lend when.
ever we cared to borrow. 1t is this which
has made our projects, thousands of mile!
away, get equal countenance with those O
their own peOple--which has made our bes
stocks favoTites on the Exchanges of every
European capital, and our credit, layishly al
we have used ii, always good.
But with foreign nation on our border
with arbitrary and yindictive duties levied
on unnatural boundaries; with our magnif
cent system of continental free trade swep'
away; with our industry spoiled by turning
our labOreTs into soldiers; with our ship
entering our greatest river by a foreign sei
and a foreign port; with our most usefu
AID necessary projects Of internal improve
ment embarrassed by the question Of inter
nal boundary lines, and our wide spTest
commercial system temporarily ruined ant
and torVer shackled by national iealousleS
it is easy to see that the property Of both tn
new nations would receive a check. 1t IL cas-
to see that the stocks and bonds of both, he'll
abroad, would be greatly deprecated il
value; our foreign creditors ruined, and ou
credit, not less important to those who mus
lend than to those who must borrow, seri
ously deprecated.
|. The capitalists of Europe govern Europe
and it is not difficult to see that they, VIII
have SO vital an interest in the continuanc
of our Union, will suffer no power TO "tak
any hasty and precipitate action" in tn
matter of recognizing acts which are de
structive to all good governments, and wbic
if commenced, would strike blow at ther
as well as at US.