The Evening Star WEDNESDAY, OCTOBER 14, 1874.

Evening Star, Issue 3633, 14 October 1874, Page 2

The Evening Star WEDNESDAY, OCTOBER 14, 1874.

The European news received by cable continues favorable to the Colonies, the price of wool being maintained, with a prospect of no reduction, notwithstanding the increasing supply. Wheat is somewhat lower— a pretty general occurrence immediately after harvest; but it is still leaving a good margin for profit on our surplus produce. So far, therefore, as the Home market is concerned there are no indications of changes likely to act detrimentally on Colonial interests. It is true a line is added that money is expected to be dearer, although we do not see mentioned any causes likely to influence the exchanges in any serious degree; and the last quotations of discount at Home were very moderate. Derangement of the money market generally arises from some unlooked for operation, which suddenly diverts capital from the usual channels of commerce and industry. The discovery that the harvest will be short causes additional demand in commercial circles to pay for an import of wheat; and the prospect of European or American disturbances rendering foreign trade risky has the invariable first effect of tightening the money market. Other causes occasionally tend in the same direction, but their operation is generally very gradual in its growth, and may go on for years, like an insidious disease, until brought to a sudden crisis by some apparently extraneous event. At present we see no reason to apprehend anything of the sort. We read of extensive arming of nations, of the withdrawal of large masses of men from industrial pursuits, who must be maintained at heavy cost by the respective nations mutually afraid and men like Victor Hugo, who live very much in the ideal world, tend to foster alarms about war and national revenge. Unluckily theories like theirs, as with certain dreams and prophecies, lead in the direction of their own fulfilment. Very probably, in the absence of such mcd apropos suggestions, the mass of the French people would take the very sensible view that what happened to them through their war with Germany, had been brought upon themselves by the unwarrantable course taken by the Imperial Government of the day ; and would see in the measures adopted by Germany a very stringent retribution jn self defence. The lesson all Europe should learn from that important war is, that it is better and wiser to allovs nationalities to form themselves into strong nations, than to attempt to force upon them distasteful forms of government not suited to their social condition. Napoleon’s real aim was to prevent the consolidation of the German Empire, and to remain the dictator of Western Europe. Possibly had he remained quiet, German unity would not have been accomplished to this day. South Germany might have hesitated or resisted, had not a common danger united the Empire in a common defensive resistance. Minor differences under such circumstances are forgotten: the necessity for union becomes apparent gnd objections are withdrawn. If, therefore, France suffered defeat when there was every prospect of achieving victory because of possible internal dissension, it would now be a more desperate venture to rush into another war with a nation whose institutions are consolidated, and the people of which have learned the advantages of union and have found it strength. In spite, therefdfe, of Victor Hugo’s opinion, we do not believe there is any present likelihood that weakened France, in which the elements of civil discord are known to be so rife, will hastily engage in another doubtful war with so powerful and dangerous an enemy. There may be such a sentiment as national revenge, but the sense of national safety is equally strong and generally stronger. France is in more danger from her own internal cabals than from any foreign power; and a French army is more needed to maintain peace at home than to revenge well - deserved disasters abroad. The chief source of danger at one time appeared to be Spain j but European nations appear now to be strengthening the form of Government into which political life is resolving itself there. Eepublicanisra may be distasteful to many European powers. It has been the cause of conflict for the last eighty years, and has yet to win its way to cordial acceptance in France .and Spain. Whether it is suited k> the popular requirements or not is yet to be proved ; but this seems certain—no European interference is likely to take place, since ambassadors from foreign countries are instructed to recognise the form of government into which Spanish parties have resolved themselves. Another significant telegram tells us that “ the French frigate Orinoque, which, for some time past, has been placed at the disposal of the Pope, has been recalled from Ciyita Vecchia.” The meaning of this is, if it means anything, that all thought of a crusade in favor of the Pope is abandoned, and that France will not commit itself to a religious war. On the whole, therefore, the European news may be considered favorable to the world’s peace, and consequently to liftman advancement; and

the monetary crisis, which everybody talks about, seems further off than ever. Now is the time for the Colonies therefore to push on, so that they may gain strength and wealth to place themselves comparatively beyond the pale of those struggles between worn-out institutions and the present, that have wrought so much misery for Europe and the world.