Smyrna times., 1861-06-13
MISCELLAN NEOUS.
Probable Commercial Crisis in Eng
land.

Englishmen are puzzled beyond measure at
,he anomaly which the United States present,
ofs country csnvulsed by civil war, yet draw.
ing, By virtue of its commercial strength, gold
from all nations with which it deals. With
one. half of our ports closed, we are still the
eediiOr.natioa Of the world. Such is our in
trinsic strength, that we shall sufe. really less
from the war than Great Britain, which bears
Oaly commercial relation to it, Food consti.
suies very large item ofour exports. and this
10 seonsumed 10 the same extent in war as in
peace; especially such as we export-hour.
corn and provisions. All these are necessaries,
Bst lux1ries.
Our exports Of them are not likely 10 be Sc
riOusy diminished, at present at least, by fnan-
eial embarassrnents aboad. There is hardly
family that cInnot make its clothing last for
ayear or so. without considerable additions TO
it; bu, the table must daily be laid with about
the same amoInt of nutritious food. In this
We can uniersell the world, with large mar
gin Of profit to ourselves. England must con.
sInue ts purchase from US long after she ceases
ton while fro the practice of economy alone.
without PiOchng ourselves of hardly comfort,
We can reduce our purchases fram that coun.
try osR sAou nt Rearly nominal. To such a
result are matters rapidly tending. That coun-
Try is trading with US almost as largely as
ever. while the return ship is freighied with
precious mstals instead of her manufactures.
England Will soon experience another en-
barrsssmeIi ST u mere disastrous ard perplex-
ing. COitnn is really her medium oferchGnge.
With tie fibrcs she pays for her importatons
upon nearly ell the tropical countries of the
world. Without an abundant supply Of the
raw material Ter manu- ufacturing establishments
must eeass work. her commercial marine be
without employment, snd her merchants be
without means of carrying on commercial op-
era:IOns. Eve'y day d;minishes the amount oi
raw Cotton OF hand. For several years nc
considerable increase cf supply can be had
ron sources other than the United States. Il
Is nov almost certain that the supply from thir
source must entirely fail for the present yesr
Eagsnd, isolated from the rest Of the world
would be snnihilated-would literally perist
from starvation. She exists only by what sht
draws from others. She is where New YorI
merchant would be with his trade reduced 4
The restricted limits Of his own State. He
system ia adapted only to a condition OF pro
found peace. Foreign markets take the mucI
larger proportion of her products. These. un
fortunately for her, can, in case of war or olhe
great disaster, be almost entirely disused, for
time ct least The United States, on th
other hand, are entirely self.sustaining wit
any market in the world closed to them.
England, consequently. is likely to sufft
more than the United States from the war;
Saeh conviction will soon take firm hold
the public mind of that country. We, const
quently. look for commercial panic there
an early day Ii cannot long be postponed
That II has not came before this is because th
condition ofta'ngs in this country has not b.
gun 10 be understood or appreciated in tha
An Eng'ishuan is slow to learn, save from II
actual pressure Of events.
hts methoIical nature aud habitual self col
nuenee render II almost impossible that
should anticipate events outside the circle
me- oEa experience. But the continued shi
meats Of gold to this country in payment
purchases made from it, and the reduction
his pile Of cotton and no new supplies comir
forward, is such a simple sum ia aritAme,
that he cannot fail to see what it proves
y. Times.