Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1861-07-26

Tue CftH, e4ccph QUO pAiutu NlOuJ, WHO
fused to assist In tie recspure Of the vessel brought her
| to this pert.
ENGLAND AND FRANCE TO ASK ONE oPIs COTTON PoRr.
A correspondent of the New York Tines write. from
Washington that be la, learned ron sources entitled to
urquesoned credit that the British government acting
In concert with that Of France Is about 10 request Of e
United States government the exsmp5u OF ole Soaheri
cotton port IRON tho bloetade 20 that they may GET
nsedfL SUPPLIES Of TIC staple.
THREE ESFRorS OF AMERICAN CONF UsloS UPON
ENGLAND.
From The London Eeonomist.
The hrst effect is the entire s,oppeee OF the ordlnsy
commercial RELATIONS between the South and the North
Of the United States aud the enEe stoppsge OF the
trade means in this instance, 10 most otb,rs the
tire ruin Of very many Of tho traders The Southern
States Of America the great exporting States Of Ane
RIGA the Norberr ths crest importing States. Ths
cors.ant course Of trade is TO debt from all The
world 70 the South and TO opposite debt tho
whole world from the North. We need only look
figures Of the last board Of Trade report sure leg
the first part Of this s In the three months ending
March I'll, 1861,
Our imports from the South havo been 90 1856 1856
Our exports to the South have been la, 565
This year imports from the North have also BEEN
large in consequence of deficient harvest sEi tn
natural anxiety OF the Amer!csns "a sead Us all they
could,
Our exports 10 the North have been f39S2.lSS
Imports from the North have been 46ss sGS
In the same period But In most year,, and . rule.
the South Is the creditor and the North the debt5r Of
England and Of the rest Of the world.
How, then arc che two "indsb;adnesscs" cancelled,
and how are the books clossdy In the most natural
way possible. By tie North selling the South and tho
South buying Of the North. The Sou,h gross ma
teria which it cannot manufacture, which
joy AID which it cannot eat Il buys OF the Nora
al is luIuries, xluost ali its clothing sud q very
considerable part OF It's provisions. II obsns thrCgta
the brokerage and sgancy oil tho Noith the goccS
Of the rest Of the escsh, Sach q. leasl, vas 10
Ordinary OF trade before the lae dsturblnce.
AZ nigh. DO expected from two communities closely
related by birth and politics. and opposite In e:ouo
ical conditions and industrial hsbi their commercial
intercourse was one OF the NOS. uninpeded beneficial
end important In the civlz,d void.
4 less happy circumstance oeaIen.sd the Union II
more closely. thu plaGtcrB. Of tbs Souh s,ys Lar
asissys Secretary OF Legation Washington truly e.
all acquainted WITH them will allow 'lke he planters
of the West India Islands In the times of saverf arc
yer, improvident. They live in STYLE Of reckless ex-
travagance, and frequently spend the whole value Of
their crops before t mas been brought market Tbs
lnruyes they require ere most essy procured in to
Moth where the merchants give them creti. ca the e.
curity OF bill upon Ito factors in the Soalh Who vii
se their produce" The tIaysgsuce Of the 5cu!h tss
knit still closer tho commercial rlatioGs suggested by
their political union, their industrial eissiarty sad
their geographical proximity.
What is the result nss Ia pfo,craoa % DIS value
Of trade u the calamity OF lis csssssionn promotion
to the intimacy OF commercial Union ia the ma cnitude
Of the peril from It's sudden dsupIoa At the present
moment the burden OF the mercantile letters from tho
North s that the South does no, paw Portions are In
some cases paid remittapces sent On account bet
still large part IL not paid. Numbers Of honees Ia New
fork-ihose most clcs=iy connected with the South es
peciAy-,annot pey either. They may not have actual
stopped their ts may be held over, or ersssi oy
bill disooontsrs and bankers, bu, they cannot e,ctus
y meet their engagements; they cannot Pay because
they are not paid
The effect Of tia rpon this country e,,rn. b, o,bsr
wise than serious Ii L. tue that the Americas. trade
Of this country 10 In very good hands, th., tie r-ries
most prominent have great and high siardirg
taat at least since 1857 their buaess has bssn eSa.
tiOus one that In tic present Gaze thew LsJ uopbs
% Earpirg which We know tina, they have used - tho
utmost sul after al ct these great deductions. tho
unpaylngnsss IN We may Ray 70 10 w,ing or ameic.,
Of New York cannot but be the cause Of much G,.y
much perpexity, aod some loss 10 part Of tho tracsg
community Of this country.
second consequence Of the civil confusion In Ameri.
has been complete disturbance Of the currency In
parts OF the country In the ruder States the bark
note circulation bears very large proportion 10 the de-
posits, which IL Of the mos. certain indications Of
hsf-deSeloped community aud OF imperfect bankirg
system These bank notes are 1t is true largely secured
BY the stocks OF the different S.ates and rrome 10 NV
IN coin But the banks have ceased TO pay In oo.n ay
the stste aoc a, the time OF war between the States
are OF feosceo' nucsuanng and uncertain value.
- 1uia; H'Ss nas oecn PECULIARLY extreme In tho
ot.'e ~ lnoos Inc currency there ID OF somewhat
@ Sn..cN 'ne notes OF many States have
ossn .on'sa W .ns etcnange" Tor obvious resaos
~. go. ~ 10 % neon,rorerh.e, but which
.nnrd 49, Sa,h, " .ns year nave rnown TO be un'
$3.50, s,.;,.S ~ oHe o's's stock aud one sac
49, Pe0n Us 70 AL The puoae tick
eiw. ~ ue oAn.s DO longer paid In specie, Iun
vs' " we qu'IuT1, ana everybody was anxious 10
W nu " uie@ ~ Wv ofk the banks stsnd firm,
:"I d., w. !" ,PeG,e Is more ample than II ever
-. D1' ~ ~, ie nuoe mss, ana perhaps In what We
ss' 10. St 'ns snhnoHn south, there hiss been aud"
gree. oeP,eenuoa the Old paper currency. We
are nov sure tnat tns dersngemsnt Of tie ,urrercy OF
sns "s.rh Ss.'es ~. A1Iaes any gold from hence, but
We ny euie ' wa co1,,'Dute Us auots 10 the sgSEs'
ss1e Oh ca1ss' 'nA' VIII ns'e u tendency to G.traat
soms'
We have left ourselves no space to dwell on the third
and last difficulty which England may eIp.rietc @. from
the civil confusion in Amorica-we mean ,hc eo,Ion
difficulty. And this Is Of less importance b,canss "a
the cotton crop Of the year 10 for the most mart fairly
houssd out Of reach of danger tbs irconyep.cs .tb
We have 70 dsruss Is future and no, a nresenr ors
Sill is 10 our duty to chronicle tie varsIpy ,soa,s Of
90 great possible difficulty as they from tim. a. ,,ma
present themselves At the present moment hs ssne,:
|, psrh,Ps NOR. unia'or.ea thaa hes ever beic,s
been The South ssys cotton sh, orly leave the South