The Portland daily press., 1866-06-27
War in Europe-Bfect upon our Trade and
Finances

w 80 AA A-oAS<S-&2ACCb OpSA OuI 1TtbC6 buo
Finances.
The steamer City of Paris brought, on Sat-
urday, the news that the proposed Peace Con-
ference had been given up, and that thereup-
on Au stria was quickening her preparations
for war. The price of god in our market,
which opened that day 154 1-2 rose upon the
announcement to 161 IA, and on Monday
started at 1877 SIS declining, however, during
the day to 157 SO. Prussia has been for a
long time marshalling her forces. From pri-
yate advices recently received we are apprized
that the railroads of the country have been
steadily and almost exclusively employed in
moving troops to the south east The news-
papers were observing in regard to mi itary
operations, the reticence required in state OF
actual war, and no Information was to be had
except through the eyes OF observers suf-
ficiently conversant with geography and poll
tics to comprehend the significance OF the di-
rection which the masses of men and war ma
terial were taking. These pronounced that
Siesia was 70 be the early field OF conflict, or
at least the point of occupation, threatening
Austria on her northeastern frontier, while
her southwestern border would be menaced
by the armaments OF Italy, which, If the de-
signs OF its ruler be realized, is to bring into
the field a million of men.
Without fndulging in conjecture as to the
eventual complications which may be brought
about by war in Europe, we may turn to the
question OF the effect upon our owu country of
hostilities abroad. This is question SIMPLY
of economy and trade. BY the traditions OF
our state, as well as
"By dividing ocean kept apart"
we shall stand aloof from the clash of arms
As to the effect upon commerce and finance
here, we can but share the general opinion
that war in Europe must be profitable to this
country. A demand for gold arises at first,
watcn will be met by a liberal export. For
this gold Europe must pay, obviously at first
rom the small proportion of our securities
Leld abroad. We take these back at cheap
rates, that is to say, in exchange tor coin and
bullion parted with at a high figure In the
condition OF the currency, we have no use for
these articles except for export, saving the
amount acquired tor import duties. The high
price OF gold will check importations for the
time and produce period of low customs rev.
enue-not enough, however to embarrass the
government in procuring sufficient coin to
meet the interest on the pubic debt. A coun-
ter demand for our securities abb oad wi ney-
itably set in. Europe in war, confidence in
the stability OF the funds of the be.igerent
states must to an extent decline. Our secur-
titles will reap the benefit of such di-i1ust.-
we have confronted with marvellous success
an onset upon our -stata-sael, as no moIern
! e,~--ss4srIIozat ever met. We hara danaor,st-et
ed ct the expense OF half million lives and
| thousands OF millions OF dollars what was be-
fore regarded but as boast. that we enioy
| the strongest and most stable government ON
| earth. Those people in Europe who have ac-
cumalated money, and who, desiiing secure
income, have had it placed in the pubic funds,
must be supposed to possess some prudence
and foresight. They viii need their income
now as before, and they will place their mon
| ey where the income will be sure Tney will
see that the pernianence and prosperity of this
countay rests upon the broad basis of an intel
lisent and patriotic people, inciining to peace.
| They will compare such a foundation for sta
bility with that which depends upon the Pc
culiarities of a relgning house, or even the life
OF one man. The comparison cannot but re-
| suit in our favor, and in the appreciation of
| our funds.
| With the populations of Europe engaged in
war, demand for breadStuffs from this coun-
| try must ensue. The old supremacy OF wheat
will vinuicaJe itself, an carrier and surer STAN
| dard of value than gold. With our boundless
fields and vast supply of labor, the latter con-
stantly increased by fresh acce> sions from Etl-
rope, war or no war, we shall derive prosperi-
| ty from agriculture. ever prime source OF
wealth. Considered its pecuniary bearings
we have nothing to fear from war in Europe.
Craftsmanship in the management of our re-
sources may be indeed required. But we have
| got along in past years with so little of that,
that we may well trust to Providence to pro-
vide us with the mod.cum now required.-N
Z. Stakeholder.