The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-10-08

apotheoaries.
American Securities AbroaA-Thsir Fu-
ture.
An English print Of some reputation, pub
ished at Birmingham, has recently admitted
that on the London Bourse attempts are made
to depreciate American securities by sys-
tematic effort at "repression." Nevertheless
the fave-twenties at the latest dates had gone
up to 60. The hatred Of everything American
which led to the active sympathy in favor of
the rebels Of such men as Roebuck, Lindsay,
Laird and Spence, and induced others equally
hostile to favor the Confederate loan, and, we
may add, lose large sums Of money by the
operation, seems by no means diminished. 1t
is, therefore, but the same feeling which induces
the further effort to cripple our finances and
injure this country in this way, If they could
not do so any longer by war in disguise.
There is great apprehension in the British finan-
cial circles that their capital by the force Of cir
cumstances, is travelling westward ; and when
they hear what Sir Morton Peto has said Of the
probability Of hundreds Of millions Of dollars
more being about to be invested in the United
States their apprehensions may very shortly
grow into terror. Bat there are some other
reasons for shifting, not merely OF British
capital, but European, to this side of the Attain
tic particularly worthy Of notice. The con-
dtion Of the public and private affairs OF the
principal nations in Europe is far from being
satisfactory. England, in the opinion of the
most rejecting persons, has eliminated. She
has no future. Her island area cannot be
expanded, and her population has crowded it
as much as it can bear. Her national debt
it ever will be. 1t is as much as she
can do even now to make both ends
meet. But for her commerce, which she
presses vigorously in all directions, the taxes
could not be collected. Her distant colonies
give her constant uneasiness, spirit Of insub-
ordination pervading them very generally. In
India, Australia and New Zealand constant
complaints are arising against the home gov
eminent In Canada questions Of the gravest
import are being discussed, turning upon
separation, annexation and neutrality, all diff
cult to be answered. And at home, in Ireland,
Fenianism has uplifted its shillelah, and wears
defantly in its buttonhole "the shamrock SO
green" When the mutiny at the More, in
1897, broke out, and the United Irishmen sent
deputies to France to ask for aid in throwing
of the English yoke, the public funds were
greatly affected, and the Bank of England
stopped payment We may possibly see the
same thing again, and if so the value of English
securities may not only be depressed, but be
considered as actually Of doubtful value. The
very possibility Of impending difficulty will
affect the conduct Of English capitalists, who,
with all their GOODNESS, are as scary as any
class of men in the world.
On the Continent there is everything to be
seen but confidence. 1t is pretty well under
stood that great changes may soon take place
in its political condition. Our last advices
import that the French troops are about to
withdraw from Rome, and from the character
of the manifesto of the liberal Italian COM
mittees in Milan and other cities that step will
meets, which will not only be directed against
the Holy City, but also against Vcnetia.
Then, again, there is evidence Of alarm in
Belgium, lest on the death Of the present
King that country will be annexed TO
France. This is the popular impression at
this very moment. The affair Of the duchics
is still an entangling one, and threatens dan
gerous and hitherto unexpected complications.
In Sweden and Norway the array Of the no.
bility, connected with the threat of violent re-
sistance against further reform, is giving great
disquict to the untitled classes. Austria
stands benumbed, Offering compromise with
the Magyars to save herself from hopeless
bankruptcy.
In this state OF things it IL plainly to be seen
that European securities do not look very
stable or offer very great attractions.
While, on the other hand, all Europe is look
ing to the United States with the deepest inter-
est, we have come, as they now perceive, out of
the greatest war in The quickest time and with
the least damage to our resources as yet re-
corded In history. We have shown what our
Unlok IL and was, its moral strength, its physi-
cal power, It's splendid courage. Il is to be
seen that no war can stop OH progress, and
that the development Of our resources has but
yet only begun. We can even afford to give
away our land to emigrants In quantities that
other countries have not to spare and do not
possess, and our population is increasing at q
rate which bids fair 10 make Il hundred
millions at the close Of the present century.
More than this we have shown. When as yet
in our infancy we have paid Of two national
debts, and are able to discharge the present
one If II we're equal to that Of Great Britain
and France together. The result Of the COM
monest observation must be the conviction
that our national securities are ~ firm ~ our
mountains, based on the most immutable re-
sources, continental, auriferous, commercial
and agricultural, unsurpassed on this globe.