The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1862-02-13
THE PACIFIC
Commercial Advertiser.
THURSDAY. BRU IL.

THURSDAY. FEBRUARY Is.
WONDERFUL changes are being enacted in the
affairs and political condition of the leading
nations of the earth, and every mail come:
freighted with new tidings more important even
than those which preceded. America is passing
through the bloody ordeal-the 80 irrepressible
conflict which wise statesmen on both sides of
the Atlantic have been for years predicting as
drawing nearer. The result of this mighty
struggle between freedom and slavery, God, in
his omniscient wisdom, alone knows; all that
we know is, the struggle is growing mightier
and mightier, the streams of blood more deep
and CORY. and the roar Of artillery more terrific
and destructive as each month passes by. The
issue-whether the Union is maintained un-
broken and sacred as every true American
wishes, or whether 1t becom s rent into rival and
angry republics, as may still be the case, should
other nations interfere, is all yelled in the future.
Turning to Europe, we see Russia taking
mighty strides towards building up a powerful
nation, by the emancipation of her millions of
slaves-a result, which can only tend to make
her in the end more powerful as a people, though
it may be accompanied with temporary popular
tumul,s. ENGLAND, too, is feeling the effect of
the civil war in America in depriving her of the
great staple of cotton, and in the decrease in the
demand for her manufactures, all which will
work important political changes. The death
of the Royal consort, and the rumored purpose
of Queen Victoria to abdicate, (Which can hardly
be credited, } may make changes in the sovereign
ty of that kingdom. a.
Turning to FRANCE, We see there very great
and important political changes going on. 1t
appears that the government has been spending
beyond its income for several years, that the debt
has been increased during ten years $500, OOO,-
600 and that the cost of conducting the gov
eminent now exceeds its income about $50, OOO,-
900 per annum. This state of things has alarm
ed the Emperor, who has dismissed his cabinet,
and called a new cabinet, entrusting them with
the duty of meeting the emergency by any means
they choose 10 devise. In order to place the
whole story concisely before our readers, we
cannot do better than to copy the following let
ter pertaining to this change, from the London
of the Panama Star:
LONDON, Nov. 16. 1861. !
An event Of the greatest political importance has
during the past fortnight The financial
crisis in France has ended by a constitutional change.
The Emperor, alarmed by the reports laid before
him, summoned VI. Fould, the hnancier-his first
Chancellor Of the Exchequer aud the ex-Minister, on
The lZth INST, prepared u memotTe anu programme
on the past and proposed future finance Of the En-
pire, which occupies some eight columns Of the Off
-Noniieur. From this elaborate document, it
was made evident that the Empire was drifting fast
10 destruction. NJ. FOuld showed that every form
II credit was being had recourse to. in order TO meet
The extravagant, unchecked and uncomfortable ex-
and that the deficit at present to be made
lp Is not less than one thousand million Of francs, or
10000 900 in our money, q fact which would
make British statesmen, Parliament and tax pa gers
bleach with dismsy AMI alarm, though they have At
east four or Eve times the wealth TO meet any deficit,
arge or small, that might occur. VI. Fould boldly
put his finger on the real seat Of the disease. 1.-The
DANGER said he, a for our finances is in the
iberty which the Government Ii. {. the Emperor
Possesses Of decreeing expenses without the control of
be legislative power" The remuneration of that
orer by the Emperor. he commended. was not only
to the establishment of a sound financial |,
ys;em, but also To remove the distrust Of neighbor-
ng nations, and this bold and able document thus
oucluded /,
Your Majesty, by thus spontaneously reiinouish-
ng this p~ower-more apparent than real. more
threatening than ehectIve-would therefore not only .
estore confidence TO France, but you would aliay the !
ppreheusions Of Europe, and remove all pretext for :.
Ostile intentions When 1t should be seen that the l
expenditure Of the army and the navy are submitted 7
, the regular vote of the Legislature, it would be q
npossible for any Power to fancy itself IN danger Of .
sudden and unforeseen attack; governments would !
longer be inclined to ruinOus struggles which i'm 4
Ell them, in mutual rivalry, to military rmameuts n
nd preparations; the populations would no longer .
illness the annual increase Of their burdens, which l
lcites them against France, and the oiium Of which 4
is attempted to throw on the Emperor" E
To the surprise OF every one, the Emperor held a .
ouncil on the 10th ms, ut Paris, at which VI. Ii
ould made a formal statement, and thereupon Louis
apOleOn addressed a manifesto to W. Walexski, v
raising the lu6diry of the programme, and announc- OF
g his determination to net upon the counsel tender Fl
to him, and surrender the uncontrolled power a
Ter finance which he has hitherto exercised. The Sc
are to be called on the ID Of December. F
he budget, in its entirety, will be submitted for dis h
lssion in detail. and no credits will be opened except h
th the full knowledge Of the French Minister. who Of
alone the intermediary between the Emperor and ii
her Ministers as to finance The tone in which the IL
including part OF this document is written offers m
rhaps the most striking proof of the consummate e,
ility Of the author, and his power of adapting him. al
to new combinations Of circumstances, that ever so
5 remarkable career has afforded m
q By reinquishing the right which was equally ju
at even of the Constitutional Soyereigus that have re
ecele1 me, | believe | am doing a wise thing for nj
e good management of our finances. Faithful to sL
? origin. | cannot regard the prerogatives of the
own either as a sacred deposit which cannot be CT
Iched- nor as the inheritance OF my fathers which, III
owe all things, should be transmitted intact to my tn
n. The eject Of the people, representing its inter- W
$. | shall always r%eliuquish without regret any m
Of no use to the public welfare, as like its
SO / shall maintain mistaken in my hands all N
yer indispensable to the tranquility and 10 the of
1speriiy Of the country" in
The premeditated candor, the ostentatious humility ex
1 readiness to strip himself Of power, when the tn
ID of the paople demands il, are all excellent, and CT
the time being will convert what would 10 other of