The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-04-25
the NEW YORK PRESS.
EDITORIAL OPINIONS OF THE LEADING JOURNALS
UPON CURRENT ToPIos-CoMPrLRD EVERY
DAT FOB THB EVENING TELEGRAPH.

The Threatened War between Prussia
aud France The Situation from an
American standpoint.
From he Times.
Why should the prospect of a war between
Prussia and France cause uneasiness and ex-
.oitement in the business circles of this coun-
trvY why should values and prices be affected,
or why should gold quiver and the finances be
disturbed What ground is there for believ-
ing that war would produce any such derange-
,oent in our commercial and monetary affairs
rs TO Justify this preliminary sensibility in
v;ov of its threatened approach
Last summer one of the greatest and most
;r,nortant wars of modern times broke out
between two of the great European powers
I've refer to the war between Prussia and
Austria)-a struggle in which two armies of
4be strength of a quarter of a million of men
.niece fought out victory and defeat on the
Aid Of Sadowa-a war in which one of the
,,roudest empires of the world was humbled
and dismembered, and in which fundamental
changes were wrought in the map OF Europe.
And vet. though besides the two main comba-
tants IL involved Italy, and came near involv-
inc France. it had hardly any perceptible in
Thence from beginning to end on the business
or financial relations OF America with Europe.
OurCiovernment bonds held in Europe and
were carried on, instead of going down during
tbe progress of the war, went up fully five
Nor cent. and gold in this market, instead of
going up during the war; went down FULLY hve
1er cent. These remarkable and memorable
facts are worthy of being recalled at this
moment and certainly should not be over
looked by those whose fears are constantly
wrought upon by the speculative and sensa-
tional dispatches that are daily received from
Europe.
We know well enough that war between
Prussia and France would be different affair
from last summers war between Prussia and
Austria But we see no reason to suppose
that the difference would necessarily be of
such character that the former must produce
disastrous consequences in this country. In
some respects it may be harder upon us, but
in others it assuredly looks less threatening
than did the war year ago. The coming
war Gf thus we may speak) is likely to cover
more time than did the war of last year;
but there are many reasons to doubt its
being a long war. 1t will take no time to
bring the opposing forces in front of each
other and it will be against the precedents
as well as the necessities of the day if it take
any great time to bring about such trials of
strength as must soon demonstrate whose
must be the triumph. Recent history fur
nishes very striking examples of how peoples
not less brave IMAM Luo rT6DCll, anu quite DIS
determined as the Prussians, have very readily
succumbed before that which they saw it was
futile to resist and we have even seen how
men not less long-headed than Napoleon, and
with quite as penetrating vision as Bismark,
may be quickly brought to acknowledge ac-
complished facts, when they discover it is
impossible to refute them. This is pre-
eminently the genius of modern times, and
the last three great wars in.Europe give proof
that it has had more than one opportunity OF
displaying itself.
1t is altogether unlikely, if war breaks out
between France and Prussia on the Luxem-
bourg question, that it will involve either o
the other three great powers of Europe. So fal
as that matter is concerned, it may be con-
sidered assured that neither England MOI
Russia will take part on either side. We have
heard (through the newspapers) of active
efforts being made by both Prussia and France
to secure an alliance with Austria, and we
have heard, now of the success Of one and now
of the other. But we see as little reason to
believe that Austria would allow herself to be
used by France as by Prussia, and it must be
remembered that the policy of Won Beust is
altogether against permitting Austria to bt
dragged into war at this time on any account
Several of the lesser States might be forced t
partici pate in the quarrel, but as regards
Europe at large a duel between France anC
Prussia alone would be more in keeping will
the logic of the times
Such war during the coming SUMNER
war of boundaries between two contiguous
States-shOuld not, in the nature of things
produce any overwhelming effect upon the
fortunes of America. If other matters lik,
the Eastern Question" were to arise stimuli
taneously with this we should doubtless fee
a greater revulsion; but the present uneasi
ness is caused solely by the probabilities of
war between France and Prussia, concerning
the Fortress OF Luxembourg; and if we trave
beyond that we get into a region of politica
speculation where all is dubious and in whicl
the value OF nothing whatever is established
Neither our commerce. our finances, no
our general business can be said to be at al
seriously threatened by the impending Franco
Prussian War--if, indeed, it really be impend
ing. Our relations with England which ar
more important than those with all the rest {
Europe, would not be interrupted. Our con
mercial exchanges with France would only /
Affected in so far as the industrial economic
OF France might be diminished. The Germa
holders OF our bonds, in whose hands they al
preclated during the great war of last summe
would not throw them away in case of anoth
war this summer. Nearly all our cotton crC
OF last year is now marketed and we NAV a
pect that the war; if it come, will be ov
before we have another crop ready for marke
In fact, in whatever light the question
studied, we cannot see that, as things nc
stand, there is any necessity for overpoweril
apprehensions on our part in case France al
russia should try the value of the ChasseI
Tlfe and the needle-gun.
France and Prussia.
From The Herald