Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-01-27
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rum III 1t1a sia1a Qr SIS y cl3s-l ~ QuireF.A
WAsHlsaPOE, Decsmber 20.-Tke RepubIL
cans are becoming daily more ami mere divided
as TO the extreme policy which il IS now appa-
rent ths Administrators wishes to parsus on
the slavery question. Ths border Sssies' nan,
though elected almost ty force, sad tAeir st4te
IN the possession OF tbe military, are az heart
opposed 10 the radicals, hut GsTa not irateruizs
vIth The DsnocEsts, thaUgh they know that GU
them IS t5sif chief depecdsEes Before Gcr-
gress closes lie present seEsion there will be :
fusion Of tic elements of opposition against the
radicals. Great sacessg On The part OF cur ar
mics would BtrslEthsu tbs opposition Tha
financial e1bSuassmeuts ef ths county viii
have the ssme tendency. These emharrass-
msntI are about 20 be Increased from the dis
t-ess Ia tho msneye3 circles Of Eranee.snd Big
land Yoa will nave observed very large Gales
Of gold in New York, ard hssyy shipments ia
tho lest tow days Of that Grtels. This srises
rom the large exports cf gold by England to
Indis fer cotton To purchase 500, 600 baes of
cotton IL the last year, Isugland has paid more
than she had 70 pey hel9re oar war for three
and = half millions OF bslss Of that commodity.
Gold sent 10 Irdia never returns. The 500 coo
bales manufacture cnlY sufficient goods to
clotke her own people
The three and half millions Of bales. from
America supplies her eolooies and Europe with
cotton fabrics, employs Ter shipping, brings TO
her the TGw material Of every country, and ia
plaza Of taking her gold, causes it to flow in
continued stream into EraHee and England.
There is a wide d.fererce il tia results OF saeh
change Of circumstances. II there hsd been
c short crop Of grain in these countries this
Yesr, snd England had been under tho neees-
sity of shipping gold for both cotton and -g.ain,
the banks Of England and France would have
been compelled to suspend specie payments,
which those eveT-populated nations regard as
the worst Of calsuuiiss. England is great
workshop Sac mast support bar thirty NIL
lions By manufactures, which eEnnot be done
without cheap cotton. She viii do without it
as long as possible, but egeulually, she must
have it. BY the last two steamers, We srs in
formed that the bsnks IN France and England
have raised The rate Of interest to nine per cent
70 arrest The flow of gold from them, with
prospect Of stil further advance il tho value
of money. .
No wonder Eugisnd tells Napoleon that M
der 10 circumstances viii she 20 to war for Pc
isSd or for sn idea, and will not even risk such
result BY sending dslegats to his proposed
congress Of nsti5ng. The p iHcipsl part Of The
European exchange sold in New York is made
cut OF sixty-day bills drawn sgainst shipments
Of produce to be rsdi,c0unted il Eaglsni.
Wei Ibis can be d5ne. Gold sells lower than
exchs1gs, pr0yoTtionablv. Now It IS the 10.
verse, ard Will remain SO tor sometime 10 New
YORK. Gold is higher than exchange, bseause
bill drawers On EuToPo viii not AXE produce
bills. They esTer the sIehsnge they draw 70 a
large extent By Shipping gold, which has a5-
vslced the price OF that article, and it Is Vory
firm at present rates.
There has recently appeared articles in lie
Russian oficisl jlurnhl in St Paisrsburg (aIu.
ded TO in the journals hsre) stating that Poland
hr raa IN &
makes her q souTcs Of weakness gnd rot OF
strength. This ia regarded as su indication
that Russia wishes to avoid WRr, and that
compromises viii be nad8 to avoid it. When
all apprehension on th score is removed IL
EcrOue, and few months more cf exhaustion
and paper m0rey imitation has cooled our pas
sious little, the probability is that FTsses and
England viii write, in ELile note to Us, say
ing yeur quarrel is 81 intClorsble nuis-ncc 20
your EeigbboTs, and musE be a5sted. We suf-
fer more By it than We ear do By going to war
with ycu. We have been expecting you woul5
either have succeeded CF become satisfied b.
ore Bow, AID something must be done.
By that time We shah kRvo gent forward the
nest Of opr gold 10 them 70 pay for the lsrre
imports W have made 20 sstisly the sxirava.
ganes csased by our abundsnce Of green backs.
The new naional banks viii be- Ia full blast.
aooding tie county from Nebraska 10 Ma5sa-
ehuset!s with currency OF uniform yslue
The farther issue b. the great 6na8cisr, MT.
Chase, Of a ew hundred nilllon5 Of interest
bssying notss, said ao1 TO be in eourse. Of pre-
parstion, which srs not legal seaier (except
fer their fees), vll haze so inflated prices that
the biggest fool smecg the f=aadsal eboIitios-
isis vii begin 70 pause and cal Ulate eeuse-
qasnce. Mr.. Chase ssys IN bis Treasury re-
pert On the 6usCces thst be does DOs expect TO
hsve 20 make sny further issues Of legsl ten
der notes, This may bo set down IS mere
specisl pleading. Il is said thors IS nov pre-
pairing inteyest-beariEg E0tes, which &Ts rot =
legal tender, to tho amoREs Of four huhjIed
million dollars
Il is also said these notes are uot likely to 60
into circulation, but wiz hs hosrdsd Tor the ia-
teresi On sheru, bat as ttsy are a lsgsl- tsnder
for their face, i is pro5s9ls they viii hca tbcir
way into circulation without regard TO tho in
tsrest they bear, as tho most ensjrc further de-
/ preeistion Of the cuFreIcy viii csuss the peo-
pl8 not to 30 very psrtieJlars sitter ssfsH months,
sbCat little interest The great objecc will be
! to get something sf real value Tor rapidly de-
| dreciating irredeemsble paper currency. 1hsi
viii be the natural foeliEig as soon ss We begiG
| to recover from tie big erunk ia which We aEs
now indulging. When that is over, and the
| headache and prostrz.ion that follows arc get
4 rid of, We shall probably awake to conscious
less, and hni ourselves = sSider bat wisei
people. hoNfTEUa.