The New York herald., 1865-03-11

spared on this side without encroaching upon
the requirements of our own manufactures.
Foreign Commerce With Mcxico-The
Mistake or England.
As most striking commentary upon the
mistake the English government has made in
not delaying Its recognition Of the so-called
imperial government which Louis Napoleon
has sought to impose upon Mexico, and of the
English merchants who have favored bis inter-
vention in that country, and have claimed that
great advantages to English commerce would
result therefrom, we republsh from our foreign
files this morning complaint addressed by
Rothschild & Sons, Barring Brothers & Co., F.
Huth d Co. and other English merchants, to Earl
Russell, with regard to certain "unusual and
arbitrary proceedings" which have taken placa
at Tampico on the part Of the French authori-
ties in Mexico, and by which it appears that
hereafter English merchants desiring to ship
specie from Mexico cannot do SO by the usual
and old established channels; that is, by the
English line of mail steamers, by which, from
time immemorial, these shipments have been
effected and insurance has been arranged; but
they must now, "by force, If necessary" make
such shipments by the French line of steam
ers, and to France instead Of to England.
The eminent commercial houses who memo
rialize Earl Russell ask his lordship "to in
struct, as soon as practicable, the accredited
representatives of her Majesty's government in
Mexico to take measures to prevent the recur-
renee of such extraordinary proceedings and
to secure to the shippers of bullion
that freedom of action which they have
always hitherto enjoyed, and which it is SO
desirable in the interest of commerce that
they should continue to exercise" But is it
probable that Mr.. Scarlet, the newly received
representative of her Majesty, will be able to
change the purpose-the whole end of the
French Intervention in Mexico? That purpose
was to serve and promote the commerce of
France, not that of England Stability and
order in Mexico were very desirable; but they
were desirable to Louis Napoleon because he
wished to build up French commerce with that
country. The fact is, however, both France
and England have made mistake in this busi-
ness. They have entered upon this interven-
ton in Mexico under the belief that the United
States would be powerless to have any voice in
the matter hereafter, and that they could do
as they pleased. The restoration Of the Union
changes all this. It must now be Cd aan... am.i...ed by
all that the United States are to have voice
in the matter. That voice has been pronounced
against the empire and in favor Of the republic,
which President Juarez is still sustaining.
Consequently all the plans of Louis Napoleon
with reference to Mexico are destined to fall to
the ground, and with their failure Macmillan
will disappear from the scene. In all human
probability President Juarez will be re-estab-
lished in the city Of Mexico before the termi-
nation Of the coming year, 1866.
1t is not in the nature of things that any set
tlement of the Mexican question that the United
States is not party to can be permanent one.
It is, therefore, to be regretted that as mean
while, by the evidence we publish, 1t is not
likely that English commerce will gain anything
ernment has not delayed any complication with
the momentary power assumed by Macmillan
and waited until the questions at issue shall
have been really terminated and the civil war
in Mexico closed. 1t will also, doubtless, be
future source of regret to certain English
houses of prominence, whom we have noticed
are mixing themselves up with certain bank
and railroad schemes with Macmillan, that they
had at least not awaited time when, by the
settlement Of the question one way or the other,
they would have avoided identification with in
vading forces and illegitimate functionaries,
whose expulsion from Mexico will destroy en-
tirely all the supposed validity of the contracts
in which they are now investing their money.
All acts of the invading government have
been repeatedly declared by the constitutional
powers of Mexico, whom the United States still
recognize as the legitimate government of the
country, to be null and void.
As the course of events in the United States
shows that Jaarez is to be sustained, it follows
that the security of operations with Macmillan
may be seriously doubted. It isprobable, also,
that under the iranquilization ofMexico, through
American auspices, the advantages to English
commerce, as in California, will be likely to be
much greater than under any French occupa-
ton or the precarious rule of an Austrian Arch
duke. Already within the jurisdiction of Maxi
milan the duties have been raised to even
more than their former rates, and the English
bondholders have yet to realize the first cent of
dividends since the French occupation; but we
confess we did not expect to see under an in
tervention that claimed to be actuated by such
civilizing purposes, so fragrant violation of
the first principles Of commercial freedom as
that complained Of by the RQkhschlds and the
Barings in their letter to Earl Russell.
PREPARE FOR A CRASH AMONG BUBBLE Stock
CoNpANIEs.-The rage for speculation in all
sorts of bubble stocks is increasing every day.
Mining oil, coal and other bogus companies
are multiplying by scores, and at this time they