The Evening Star MONDAY, DECEMBER 1, 1873

Evening Star, Issue 3364, 1 December 1873, Page 2

The Evening Star MONDAY, DECEMBER 1, 1873

We are glad to learn from the cablegrams from Home that the monetary pressure that looked so threatening has been tided over. Gold has poured into the Bank,, and thus strengthened its position ; and it is fortunate that this reversal of the Exchanges was effected so rapidly. Twenty years ago months would have been necessary to complete a financial operation that lias been accomplished in a few days. It is plain that our views concerning the light stocks in merchants’ and manufacturers’ hands were correct. Prices have been maintained for wool, notwithstanding the scarcity of money. In other commodities there was tininess ; as a matter of course no one being inclined to buy excepting for the supply of immediate requirements. Wo trust the worst of this crisis is past ; that .speculation in scrip has received a wholesome check, and that more legitimate investments will be sought for surplus capital than passing shares from hand to hand, with the consciousness that though a dozen buyers may be small winners, the last holder must lose the lot. With undeveloped wealth in these Colonies, means of communication incomplete, and obstacles to be removed in various parts of the world before the earth is subdued and rendered subservient to the supply of human wants, there is room for enterprise and exercise of energy of a nobler kind than that devoted to attempting to become rich by impoverishing a neighbor. The Government of Spain, or rather anarchy of Spain, is gradually becoming more complex. It is almost impossible to unravel the maze or to understand who are masters of the situation. Cuba has long been regarded with a covetous eye by the United States. In the year 1848 the “ Lone Star” Society was formed in Alabama and some of the Southern States of America, the object of winch was to extend the institutions of the United States over the Western Hemisphere, including the islands of the Pacific Ocean. Cuba and the Sandwich Islands were to have been the first acquisitions. In 1849 President Taylor, by proclamation, denounced the project; but this did not prevent invasion by an expedition under General Lopez in 1850. Defeated on that occasion, the attack was renewed in 1851 under the same commander, who with his followers was captured. Fifty of his comrades were shot, and lie was garroted. In 1854 otters were made by the States for the purchase of Cuba, but the Spanish Minister of the day declared, at the sitting of the Cortes, that the sale of Cuba would be “ the sale of Spanish honor itself.” So the matter remained until now. Queen Isabella reigned then—weakly enough; hut powerfully compared with the present anarchy. It would seem from the telegrams that the weaker will, as usual, go the wall, and that “ filibustering,” that in 1849 was looked upon as piracy, is to be upheld in 1873. No doubt it was cruel to shoot the fifty-seven men. The Spanish creed is cruel and unchanged since the days of Morgan ; but every country cannot afford, like England, to create rebels of one decade, knights in the next. England evidently recognises the illegality of the act for which sixteen English have been shot, but has laid down a new rule, which seems to say that in future, although engaged in piracy, her subjects shall not be put to death. Spain is in no position to resist either the United States or Great Britain, should they adhere to their position, and is utterly powerless when they are acting in concert. The end will therefore probably be that the States will take Cuba, and Spanish honor—save the mark ! —reconcile itself to the degradation as best it may. We cannot understand the state of affairs in France. A month ago we were told by telegram that MacMahon was to bo President for ten years ; now we learn it is to be for five, but that be wants to drive a bargain by dividing the difference and making it seven. Five years of good rule would almost certainly secure him the Presidentship, nominally, for life ; although possibly he might chance, after being honored by planting of trees of liberty, and being graven in stone to ornament a triumphal arch, to die in exiie as most French rulers have done during the present century. The Ashantees, as was morally certain would sooner or later be the case, are suffering the consequences of their folly and treachery. It is a pity so much blood and treasure arc wasted in so worthless a contest. There is neither glory nor profit in it. Cape Coast Castle, was never worth retaining. It was taken possession of in times when extent of territory was reputed national power, and its miasmata ha ve caused the death of tliousands--of some whom the world could ill spare. We suppose, however, that it would not do to leave the Fantees to the tender mercies of the Ashantees, This is the third war we have had with those savages during the century, and in not one of them have the British come off without reverses. Sir Charles McCarthy lost his life, and one thousand British troops were defeated in 1824 ; in 1803 war was renewed, and on account of the mortality of the troops through disease, it was abandoned in twelve mouths, and the present conflict has been marked by the disastrous boat expedition at the , LTah. Most probably recent improvements and appliances will shorten

military operations, and secure early submission. We trust what is done will bo thoroughly done'.