"That much of this rejoicing arose from selfishness is very
true, for so closely connected are the social and commercial
relations of the two countries, that no blow struck at the
prosperity of England could be long unfelt in these United
States. But the fact is scarcely on that account the less
striking, nor will it, I venture to hope, deprive it of its
intense significance with those who, like yourselves,
exercise so great an influence upon the opinions and the
sympathies of two great nations."
The effect produced upon the _commercial_ affairs of America by the
apprehension of a revolutionary movement in Great Britain, and the
restoration of confidence when the news of the peaceful termination of
the demonstration of the 10th arrived, are thus given in the _Weekly
Herald_ of New York:--
_Sunday, April 30--6 p.m._
"The week just closed has been one of the most intense
excitement. The most gloomy anticipations had been formed
relative to the expected news from England; and we have
never before seen such a panic growing out of a probable
event, as that which had taken possession of the public
mind. The whole thing turned upon the result of the Chartist
movement in London; and such were the hopes and fears of
those connected in any way with Great Britain, that it was
difficult to escape the general depression. Vessels
freighted for ports in England were not permitted to depart
until after the arrival of the steamer. Drawers of exchange
refused to sell any more bills on their agents; prices for
cotton were steadily drooping in anticipation of a complete
overthrow of the British government; and a thorough
derangement existed in every department of industry, and, in
fact, the greatest consternation prevailed. As soon as it
was announced that the steamer America was telegraphed, the
public mind was at once relieved, and stocks advanced, even
before the news became known. The fact that the steamer was
coming, that she had sailed on her regular day, satisfied
all that there had been no change in the government--that
the Chartist movement had not succeeded, and that, so far
as political affairs in Great Britain were concerned, every
thing was quiet. This gave a buoyancy to the market, and the
reaction upon the public mind was tremendous. When the news
was read from an _Extra Herald_ to the crowd in Wall Street,
many men shed tears, and almost a universal shaking of hands
took place. Many, who imagined they were ruined, found their
fears groundless; and the long, anxious faces which met us
at every turn in the business portion of the city during the
past week, were suddenly changed to those of joy. Vessels
which have been under an embargo, will now resume their
Public-domain text, read in full here on John Shaqi.
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