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Brief an Starbuck in London.

My dear Sir,

61

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Our Suez schemes have been on the shelf for a good while and it was no wonder, for there was work enough in Europe to engross people's undivided attention.

The Yankees will take it upon themselves to remind us in Europe, that if we do not defend our preponderance they will soon enough step in our place and let us look how we fare when they will have seized hold of the great thoroughfares of the world.

You are aware that the question of a Railway from the Mississippi valley to California and of a Steam Vessel line from California to China is in serious contemplation. You are aware too that our transatlantic competitors are not likely to quake at the boldness of a scheme. Our foolish continental revolutions and the low rate of interest in England have since some years driven so much capital across the Atlantic, that the want of means will not deter them from the execution of the most gigantic works. bus dosidice el conoansiger

If Europe allows the above mentioned works in the United States and the canalisation of the Isthmus of Panama to be completed before the Suez Canal, the centre of the world's business is sure to be transferred from London to New York and from Europe to America.

The question lies no longer in paltry European jealousies, it is of very little moment whether some small Greek craft may have a preponderance in the navigation of the Red Sea, or some similar petty interests. It is America against Europe! Is Europe to maintain its present proud situation, or to recede from it and to yield the sceptre of trade, of wealth and consequently of political influence to America.

On this question all the nations of Europe, with exception of Russia, have the same interest; if America takes the lead, we all go to ruin. Russia alone, resting on quite a different basis than the western and central States of Europe, will found on their ruins a new Asiatic power.

dod diu