Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1866-02-07
The Anticipated Revision in gland.

) The tone OF the English p;ess intimate
: considerable alarm on the subject of IN OF
ticipated financial revulsion in. England, an
the Times and other leading Journals. are as
Stunning that the danger of a, collapse vii
| come from the large credit exports to tn,
United States, and the paucity Of returns IL
specie and equivalent merchandise. But. ther,
is difference of opinion in England upei
this point. Many commercial men, in com
munications addressed to tue newspapers
assert that the remittances from this country
are very prompt, and that che heavy receipts
of cottoa are fair set off against the British
exports.
There is good deal more in the threaten
ing aspect which financial afairs in England
have assumed than can be inferred from the
large exports to America. The wealth OF
England has its mainstay in the coal and
iron deposits of that country, and the opinion
has gained ground there for some time. that
the supply in, these minerals was getting
rapidly exhausted. Investigations have been
made bythe geologists, and the result is the
conviction on the part Of agood many thar
the coal and iron cannotIast more than fifty
or sixty years longer some give their pro
ductive capacity limit of hundred years
When the cos. and iron give out # is pretty
evident that the British empire will give out
too, and probably TIE long, g,headed portion Of
the commercial people. of England foresee
the short lease of its existence, and hence We
may account for the evident disposition TO in. |
vest English capital in this country. They |
know that while tho mineral products ofll
Great Britain will only last for a hundred
years at most; the mineral wealth of this
country will last fer fifty. thousand years
and they are'in fact preparing for o con.in
gency which, according to geological surveys
must occur within century, and capitalists
are, therefore, looking that. distance of time
ahead. The labor, capital and manufactures
Of England will be transferred to the United
States before many years. Already, indeed,
The initiative steps have been taken in this |
direction. We are gradually drawing of
skilled labor from the manufacturing towns
If England, and English capital is finding +
Investment in our railroads and mines, be
,ause capitalists have discovered that, this
3 tho most stable government in the world.
!nd,the safest place in which to invest their
means. The arguments of the London Times
nd other journals, while they are probably
Intended to weaken confidence in American
ecurities aud depreciates the credit of our |
merchants. logically sustain this view Of the
Hbject and admit the stern facts upon which,
! is based. We NAV assume that the time
) coming when the British empire-as rep ,
esentei by its capital, labor and mauufac Ii
be found to exist here, and no,
u the other sideef, the Atlantic. Here il 4
,ill not be scattered over many colonies in G
u parts Of the globe, but will bo conccntra
ed in one territory, embracing within its
Units all climates from the tropics to the 4
emperate and ,frigid zones, and command :
Dg resources without limit. - II
The financial reyulsion of which England
] now on the verge may create some tempo
ary Inconvenience in this country ). but its :
ssaIts must ultimately operate favorably for, b
riyato adYices have Deeu e
be effect that the London Times has been
ubsidizsd, OF otherwise Influenced, to de-
reeia.e American investments. We do not
ully recognize such an object in its present
one however, the narrowness of such pol
cy is very clear in view of the fact, which ls
Omitted, that there are no safer investments
f capital to be found than exist at presenr
q this country, and thot such Investments
re being made very extensively. If q fnan
ial disaster is about to fall upon Great Bri'
ain, which appears inevitable, We therefore, I
10 not anticipate that any serious damage
o the United States will arise from it.-New
(ork Herald