Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-07-20
our Trade and the war.

Inc new 1ofk ItD1eS, under the caption
of 'Our Trade and the War, remarks:
Our grain and produce dealers
will realize advantages from the outset.
They would have prospered this year even
had peace been maintained. The certainty
of short crops on that side created GER
tainty of remunerative prices on this. So
far as these interests are concerned, the
conflict begun by France and Prussia still
further improves the prospect. The effect
of short crops will be aggravated by disor-
ganized labor, and by the waste which is
inseparable from war. From these calami-
ties the United States will derive profit.
The World expresses its regrets that the
merchant marines of the United States is
in condition which debars it from reap
ing the benefits which otherwise would
flow to this country.
1t says: The war, by Gripping the COM
merce and raising rates of insurance, will
throw a great amount of business into the
hands of such neutral nations as possess
the means of transportation. In former
wars, we have enjoyed the full advantages
of our neutral position, and have been
among the chief carriers of the commerce
of the world. In the great Napoleonic
wars in the early part of this century, we
laid the foundations of our subsequent
maritime greatness by the profitable en-
ployment given to American merchant YES
sells by the interruption of European COM
merce. In the present war Great Britain
will monopolize the advantages which we
should share with her if our government
had not blindly ruined our shipping and
reduced us to abject dependence on foreign
for
ships for the transportation of our own
merchandise, we are of course In no con-
dition to profit by our neutrality, and grow
rich as enterprising carriers for other ma
tons. While we have been occupied in
expressing and humiliating the South and
keeping alive the exasperating controver-
sizes which ought to have closed with the
civil war, our maritime importance has
dwindled under the blighting effects of bad
legislation, until our improvident govern
ment is suddenly awakened to a sense of
national loss and insignifcance by the
shock of great European war.
The New York Shipping List takes
wider survey of the subject, and while ad-
hitting advantages, shows there are also
disadvantages. 1t says:
The question of the probable effect of
such war upon this country has been
very generally canvassed, and the conclu-
sions reached are both varied and con-
flicting 1t is conceded that in the event
of prolonged hostilities the United States
will be drawn upon freely for food mate
rails, but in no other respect, are we likely
to reap any substantial benefits. Our
European commerce will be seriously Grip
pied by contest involving three and per-
haps more of the leading Continental
powers. Numerous sources of commerce
which are now tributary to our wealth and
prosperity must, pending hostilities, be
dried up, while, as regards the carrying
trade, the American merchant marine is
not in position to derive any very sub
stantial advantage from the temporary
transfer of the carrying trade from the
North German and French flags. The treaty
of Paris of 1856 abolished privateering, and
provided that the neutral flag should cover
enemys goods not contraband of war, and
the enemys flag should cover neutral goods
not contraband of war. This treaty, to
which France and Prussia are parties, re-
lieves neutral andpeaceful trade from many
of the injurious consequences of war. But
the United States have never agreed to
this declaration, and can claim none of its
benefits, Neither belligerent will be bound
to respect the treaty, SO far as our flag and
property are concerned. That the result
may be injurious to our commerce in COM
peting with that of Great Britain cannot
be doubted. The foreign trade now car
ried on under the American flag is how
ever, so limited that it cannot be much
further reduced.
The New York Journal Of Commerce, in
its money article of Saturday, refers to the
situation by remarking that the great in
terest for the moment is conferred in the
foreign advices, and few even of the wisest
are able to satisfy themselves of its proha-
BILE effect on financial affairs here. We
have our own view, but it is not our prov
ince to forecast the future. We may say,
however, that all extreme estimates of the
bearing of the European struggle on our
markets will prove wide of the truth on
either side. 1t is probable that more has
been already discounted than will be fully
realized unless the war should reach enor-
nous proportions, involving all the CONT
nent of Europe. There could never be
better time for this country so far as We
may be called upon to supply the belliger-
ents. Instead of long period of specula-
ton, the crisis has been reached at once.
The seasons propitious, our crop is large,
the channels of communication are open,
-.