New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-07-18
to complications which Napoleon is not willing
at present to face
THE VAR And OUR INTERESTS

The first effect of the European war upon
American interests will be the return of large
numbers of our bonds now held in Prussia,
and to lesser extent of those held in other
countries. We see no cause to regret this. The
Germans bought bonds of us at exceedingly
low rates, at a time when we much needed
money. Now that the positions are reversed
and they are wanting money we shall be glad
to get our bonds back again at as low rates as
possible. We cannot hope to make as good
| bargains as they did, but we ought to well
come the return of every bond Nor
do we believe that such return will have so
marked an influence upon the Gold Market, or
upon our general interests, as has been antici-
pated. We can well afford to spare the gold,
and we have every reason to rejoice at the
! dmnution of our Indebtedness to foreign
countries.
The next most obvious effect of the war
upon American interests will be in the I'M
provement of our commerce. This is, of course,
dependent upon the prolongatiOn of the war.
1t it should end as suddenly as did that
between Prussia and Austria, the effect
will be scarcely perceptible; but if it should
continue for several months we may well hope
shipbuilders and bring from other uses many
vessels which may now be proftably employed in
the ocean carrying trade, from which the
French and Prussian merchant marine will be
excluded. We might even hope for one or
two lines Of American steamers to Europe.
VIM. Il. Webb, wepresume, has several vessels at
command adapted for such service, and pos
sibly there are others that can be summoned.
AS soon as it becomes apparent that the war
is not to be ended with single battle, we
hope to see decided movement in this drec-
ton.
The effect upon our market for breadstufs
has already been felt, and the advance on Sat-
urday is but trifling indication of what
we may expect provided the same
question of the probable continuance of the
war shall be decided in favor of our holders.
The country is in good condition TO supply
the extra demand then likely to be thrown
upon us, the returns from which could not
but add largely to the general prosperity.
1t is possible that the European demand for
our cotton will be diminished rather than in
creased by the war. Cotton fabrics do not
largely enter into the material consumed
by armies, and the consumption by the
people dU HOIHe Is llhcly W 10 idlhcI uinLl-
ished than increased in consequence Of the
straits which war brings. We shall scarcely,
however, regard a lower rate for cotton this
year as a national calamity. If it shall slim
ulate our planters to comprehension of the
fact that a varied agriculture is likely to be !
more valuable and more secure than one de- |
voted to single staple, it may prove instead |
a veritable blessing in disguise.
1t would seem probable that one of the most
important and valuable sources of immigration
to this country will for b time be cut OF, and |
that the stream of German immigrants that |
has done so much to fertihze and develop the |
West viii temporarily be diverted.
We could lose no element of population more |
valuable to us. To whatever extent German |
is checked, to that extent the |
calamity Of the war is brought to our doors,