The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-28
British Interest In the War.

served its cause, by attempting discredt the inform
ant who has told the simple truth.
British Interest in the War.
THE GENERAL OPINION OF AMERICAN DEMOCRACY.
From the London Times, August Ia
Never there in which the people OF this
country took greater interest. We watch with the ut
most solcitude all the proceedings of the begerens,
and observe not only the operations of their armies but
the manifestation of popular feeling, with sentiments
which no other struggle could excite We say
Though is impossible to avoid rejecting that tie
von Of Tho Union into gre,a may reiere
ny g s os h mh.I IRE sere mnad ey ne orer
sert that ngshmen desire nothing than to see the
quarrel terminated and the strife appeased We wish
no harm to either party, and would far ra.
than s''culcte the a irantoges rhich its prcmd-
Bat when we have Said this Ne have said all that the
Americans are likely to hear with much satisfaction
For the rest conclusions certainly favorable
those Institutions under which this great catastrophe
has been matured. What the Americans call freedom,
but what we call democracy does not show to advantage
at this critical time The theories otrlutig in,medstd
Die sRp1ioriyo republican forms Of government hare all
been folfd IN s uaiest and most striking manner and
the last SIX months have proved beyond all question that
the prepondcrance OF popular will without check or limit
is at least as likely to hurry nation into war and debt
the caprice of tho most absolute despo the ntrgues
of the most selfish of aristocraccs.
We not finding fault with the Northern States for
going to war We have repeatedly admitted that the
federal party could not be expected to view the dismem
berment OF the Union without effort TO avert the loss
But though civil is the frighul Of all the
Americans plunged into il with less concern than would
have been shown by any European State in adopting a
Diplomatic quarrel Though the people of the South were
OF the same flesh and blood with the people of the North
and connected with them by thousand links cf interest
and feeling the Northerners instantly hcaped ray
ceivac opprobrium the heads of the Southerners.
thereader will refer to any speech Of any Manchester
orator he will find the of the United States
extravagantly eogi,d for the rery qualities Of ,rich
TrOred 10 be utterly destitute, and the Americans exalt
cd beyond all other people of gifts which it is
plain they possessed. II Is this If the Americans
wish to know the truth which points the remarks Of Eng
lishmen their civil and its incidents-It is not
that they any worse, foolish, ntcm-
erate than to be expected under the trials which
they have exposed that they held up
" admiration by certain party among people
in whose counses ntemperance folly would ever be
likely prevail. When we see that unlimited democracy
not the slightest security against the worst OF
and the reckless extravaganza, may apply
the moral home and congratulate ourselves that The old
British constitution has not been preSpdtely Tnodetled
after a Manchester design.
The Fina ncial Aspects Of the War.
NERO ANTIIF SECESSION sYMPATHIsERs IN NEW YORK
DIsCOURAGlNG FINANCIAL REPORTS TO THE LON
DON TIMES.
From the London Times Getty artcie), August 1877
The mercantile letters from New York by the present
dned by u. bad management and rcsie.7 sho,n run.
another defeat would bring large number over to the
policy Of allowing secession to take place peaceaby
Some persons express belief that the North wall
have acknowledge the South before the end of the year
but the real tendency OF events seams to be more and
in the direction of the state Of affairs that will
der both parties glad oil compromise The federal
troops stated to have evacuated both Harpcrs Ferry
and Hampton, and much anxiety was evidently
was, however, that it would be great mistake on
the part of the Coniederates to attack that city II
defeated, they would lose all the prestige gained
at Bull run: and, l. successful, they would again unite
the North against them while if they abstain
from necdlessy arorsing anmcsty and remain on the
defensive, The North, az is asserted ,s diride
parties event which would greatly interfere, only
with enlistment, but with the raising OF money.
The expenses of the federal government enormous
being estimated by good authority at considerably
than s2oo 900 diem The six per cent Treasury notes
already at four discount, and as they have only
twelve months to run this is equal to the rate Of ten per
cent interest. As they being issued fast
sibe further depreciation seemed imminent The
abundance of money at New York much in their
favor and it is clear that it, owing the scale OF expen
dturc, this abundance should not continue, rate far
above ten per cent will speedily be found necessary
Of all departments hnrossing
especially among the dry goods jobbers.
WAR EXPENSES AND WAR TAXES IN AMERICA.
From the London Times, August ID.
Every Englishman knows, by the experience Of his
own country where the shoe would begin to pinch the
American beligcrents In that country, as elsewhere
any number of bic procured to fight, after
fashion, in any cause good or bad, if they only we'll
paid we'll fed well clothed well housed and moderately
well commanded, with prospect if not Of booty,
least OF whole skin So it becomes aqueson of money
confidence in money alone his always proved false but
money there must be- and there country in which
necessary than in the United States whore wages
| are high and work is abundant war will cost there
almost much it did here for if the work
home, and the area OF the war somewhat less
than tho whele surface of this terraqueous globe,
corruption of the ordinary pursuits of life. In the
first place all the bonds Of debtor and creditor whether
pubic or private and oil the relations Of business
ton and other cultivation at an end The State gov
ernments themselves set the example of Reputation by
refusing to cash bonds coupons which can be traced
to the possession Of the other party in the struggle
Searching Dcrrogatores put and must be answered
oath before State will pay interest which may find
its way to hostile hands. Meanwhile commerce is inter-
ruped by blOcades and privateers and immense works
commenced in the depth OF peace stopped by tho
withdrawal Of hands and resources, and not less by
general dimnuon Of confidence in the prospects Of tho
country At Washington, finance observes the old forms
of Union, aud supposes tax to be levied on all tho
States 1t is obliged, however, to condescend to fact
and calculate the certainty that only half the States
! will respond to the call.
So the Congress Of Washington is looking the difficulty
they say there, square in the face not Square"
however, they will day have to look it. There
appears be difficulty in the authorization Of loans to
! any amount indeed at this moment government has
years and has found the market presume unfavor
able for the exercise of its The real question is
how to find proper basis for loans in an augmented and
well paid This involves taxation, and, unfOr
tunatey, taxation appears to be point on which the
Eastern and Western States OF the federal Union are
Southern confederacy. The Western States have parti
| cular objection to taxes: and when read the war
budget which the Congress finally to have decided
feels that such objection may be expressed not
only good sentences the floor Of Congress- but also
in less formidable manner FAR West. Besides di
of 900 apportoned among the states, and
| expected from only half the budget proposes tax
| upon carriages varying from one dollar to hfy tax
upon Watches duty spirtuous liquors Of five
gallon, aud fermented liquors Of sixty cents
barrel and general tax upon incomes the rate OF which
| well the incomes liable, Is not yet decided.