What It Will Effect
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WHAT IT WILL EFFECT.
From the intelligence brought by the Anglo-Saxon, of the departure of the vessels engaged in laying the Atlantic Telegraph, and of the safe prosecution of their task up to the evening of the 10th; and the still later news from the Captain of the Edinburgh, who reports having seen the Agamemnon engaged in paying out the latter half of the cable in mid-ocean, we may almost venture to regard the enterprise as an accomplished fact. Supposing then that instantaneous communication had been effected between the United States and Great Britain, how would commerce and the interests of the community at large be affected?
It is certain that speculation founded on the prices at the London Exchange will be extinguished, for information in regard to the English funds will be equally and promptly accessible to all. But the remoter causes which affect the British Stock Exchange—such as the hostilities with China and India, which now have no direct appreciable influence in Wall street—will be brought to bear with as much influence here as in London.
With regard to foreign news, we are inclined to think that its constant and regular receipt will diminish and almost destroy its influence. Now, when three or four days elapse between the receipt of news from England, it is but rarely that something of considerable importance does not transpire since the last mail, and thus we learn regularly to expect a sensation, of greater or less magnitude, by the next arrival. But when we have news from England every day, and three days out of four find there is “nothing of interest,” the general reader will soon begin to class news from Europe with news from the Plains or from Texas, or Mexico, or from some locality whence we do not habitually look for exciting intelligence.