The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1864-01-23
EUROPEAN war and ste Effects

We. CAEEEDN CO, PublisheEA
European War and ste Effects
That there will be peace in America
within twelve months, appears ; mattfr
of almost absolute certainly; that there
will be s general war in Europe before
halt that time has expired, is equally
patent; and ia view of these things, it
becomes Us to inquire the result Of this
change upon ourselves; and how our in
tresls will be affected. Since the ac-
QUESTION Of our Independence, Europe
the belligerent, and America the neu-
trail" has been the raj f; but during the
last three yesrs, that rule bas been re-
versed; reversed, however, only TO speedi-
" resume its original status.
At present our business is al upon 3
war basit; aside from the sOldiery, there
are tbous ands upon thousands, whose la
Dor depends upon be continuance Of hos
Utilities; our manufactures are adapted
to the wants of the army; and inceed
the whole industry Of the country /
regulated By the war. Our currency
rests upon other than . specie basis;
though through the financial ability Of
the able Secretary of the Treasury, it is
in the best possible condition to be re-
placed upon that, at the return Of peaef;
vet it is evident hat an entire change IN
industrial pursuits, and resumption OF
specie payments will cause much suf-
fering, and perhaps be productive Of
trying financial panic; and this latter
will be dsd by politicians known a.
"ouls," who, instead Of smoothing toe
way for the charge, will aggraVate It's
evils, in the hope Of regaining power b.
casting odium upon those in Office.
Under these circumstances, we shall
not be surprised to see 3 political war
fare waged, after the conclusion Of peace,
which shall be equally bitter with that
Of any OF its predecessors; and if such
men as Fernando Wood, and VallAndig-
ham obtain power, though we are happy
10 Say this is altogether improbable, the
credit of the country will materially suf-
fer. 1t becomes Us, then, in view of the al
most absolute certainty of war in Eu-
rope, to inquire into its effect, in case it
is ipaugurated while we are in the trsnsi
tory state; while our industry, now reg
ulated by the necessities Of war, shall be
adapting itself to the demands of peace
aud while our paper currency is settling
itself upon G specie basis.
tits unnecessary TO inquire into the
attitude which will be assumed by the
fmallsr nations of Europe; not holding
maritime positions, and not being inter
ested in commerce, their status viii but
little affect this country; bat Of one
thing we can rest assured that in the
conflict, Russia ana England will be an
tAgonists; and this will close the grana-
ries Of the Colossus Of the North, to
the shop keeping fraternity Of Britain;
and as war will decrease producers, and
increase consumers, no other nation, even
though in alliance with EogIsnd, can
spare it any bresd; hencs, tde only re
lance OF that country will be upon
he United States, aad the British Amer
can colonies, which will necessarily
create an increased demand upon us-s
demand, however, which will readily be
supplied by the farmers of the Great
West.
The effect of q European war, then,
viii be, 1st-to increase the export of
,readstuAs, three or four fold; %, to in
,rease immigration, if no Law is passed
% prohibit il on the part Of foreign gov
rnmenis; Sd, TO materially diminish the
mount of specie exported, and increase
he sum imported; Alto reduce the
rice of foreign exchange, and conse-
Iuently to enhance the value Of the ma
ionAl currency. These are not sll TIE
advantages which will h)w from gen. Q
raj E aropean war; bat they are more
rOminent than others, and with them,
il Others, in greater or less degree, sre
Intimately connected. What, then, viii Z
'e their effects?
/. An increased foreign demand for i.
resdsluffs, will give occupation, at al
lOst fabulous prices, to the disbsnded
Oldisrs; England will have less fabric
} export, her industrial population be-
lg engaged, as ours Is now, in mAnulsc Il
iring articles demanded By the army o.
I'D hence purchases in New York, Of 81
merican produce, will BE- made with d.
I'D, and basis thus formed for the re- u
IUPtiOn Of specie payments By the q
anks. %
2. Immigrants will come over, il per- =
lifted, ia larger numbers than before ~
nd with them will be carried large
lsntities of gold, which will be put in .
regulation in this country. The immi- :.
ants will open up new farms, and add y
the productive industry Of the cOun-
,, and hence to its material wealth, "
i'd give the Government q new arm ~
'On which to rely, for the payment Of ~ :"
) debt. "
5. In proportion IS the amount Of ex- 9,
rts increase, and the amount of i'm -
ris decrease, will the export of gold :,
ninish, and the impert be augmented (; %
d with he enormous supply from the
cifc Statss, the precious metals will -.
come 90 abundant, that feI months :.
II enable the banks 10 resume specie A,
yment; resume it, doubtless, in 5 :,
inner which will insure them against :,
run" which might, ia the present in :,
nee, in tie general gcesdiasss Tor gold :,
nse = suspension. i'
A EurOpesn war viii depreciate for II
u securities, and with il, exchange