The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1867-05-03
War in Europe.

F.
Prussia. This certainly looks like war,
and the general impression is that twill be
a continental one. All Europe has been
preparing foI it. Since the late war, which
one might think. left Prussia with a com
plete armament, that power alone. has or
dered 100000 breech loading steel bar
rels for new needle-guns. France has in.
course of manufacture 48O, 900 rifles
Austria is altering 500, old guns, to
bring them up to the times. Russia is
modifying 100000 old arms into needle
guns. England is converting 1 SO, 600 En-
field rifles into something she thinks bet
ter. The smaller States have also been
busy.
Outside of the impending Franco-Pfus
sian affair, England proposes to ''Punish'
Spain. The latter power is having cannon
made al Prussian factory, and in case of
hostilities viii probably never obtain that
accession to her war material
European wars are now a question of
home interest with US. because they affect
values here. That grea. blessing. the Ma
tional Debt, is carried partly by European
capital, the withdrawal Of which throws
government stocks into the market IF
other capital is not found, depreciation fol-
lows inevitably. Already U. S. Coupons
have dropped from 75t to III in conse-
quence Of war rumors. This shows what
may be looked for when war becomes an
aotuality. In New York, gold leaped up
from I354c- to 1870. This is really a de-
preciation of greenbacks, and as gold ad-
vances In the course of the prospective
struggle, the price of everything must ad-
vance proportionately. Flour, already be-
yond reason in consequence of scarcity,
will accelerate in it upward career. An un-
looked for increase of the European de-
maud, consequent on converting peaceful
producers into armed consumers and des-
troyers, will give it further Impetus
Coffee must keep. pace with gold, because
il is foreign product, and gold is re-
quired to purchase it. Another general in
fation of prices. of a greater or less entent,
must ensue. Mccullough must cease his
policy of contraction. The business Of
the country viii demand expansion Of cur
rency instead,
Cotton has declined sd in Liverpool
within two days. The stopping Of the
German mills cuts off a source of con-
sumption as damps allspeculation. Spec
ulators will withdraw their investments in
the staple and throw it on the market, at the
iuncture when purchaser has retired from
the field. Our factors already contemplate
a decline to 1Od., and it is not improbable
that it may go lower. The nominal price
in this country, however. may not decline
further. On the contrary, it may advance.
If 118d. in Liverpool be equivalent to 26c
in New York, with gold at 1869, 1Od in
Liverpool will mean about the same in
New Pork with gold at 1906 if gold goes
higher, it viii be worth more, nominally
England ie not likely to permit herself
being drawn into the continental vortex
The government win probably satisfy the
national glory with the little Spanish ex
ploit. There is huge skeleton in the Eng
lish closet that will deter her from indulg-
ing the penchsnt for intermeddling She
has been obliged to send 100000 troops tc
catch that Irshman's fea-Fenianism.-
They haven't been able to lay their hands
upon the little (?) disturber, and twill b
unsafe to remove the military, lestit shOulC
break out in new place. This policy o
mastery inactivity win suit the Engiisl
lords admirably. They will be able to dis
pose of the manufactured goods on advan
tageous terms, to. clothe the contending ar
miles, They will thus clear their ware
houses of superauous stocks.
Our Southern land will reap one grea
bsneft from this European war. COMM
as it does in the spring time of the year
depressing cotton in the midst of the plant
ing season, twill determine many a South
erner hitherto debating whether to Plan
|, the staple or not. In view of this fact th
backwardness of the season, that we hav
all been murmuring about, seems almoa
providential. Truly tits an i'll wind thu
n blows nobody any good.-G Gazette.