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Cotton and the East Indies.

--The New York Herald says:

‘ The papers to hand from the East Indies canvass the prospect of a war between England and the United States with great anxiety, more particularly with reference to the influence of such a contest on the infant cotton trade of that country. The Bombay Times of India, of the 27th of December, says: ‘ "The news that war was imminent with America for the seizure of the Southern Commissioners reached us by telegraph via Galle on Monday last, (the 23d,) and, as might have been expected, has paralyzed the Bombay cotton market. We are looking with great anxiety for the advices of the next mail or two. Should war break out between the countries, the American crop will no doubt be liberated almost immediately; when shippers from this port may prepare to encounter the most crushing loss. Happily, the gains of the last twelve months have been very large, and few houses in the place probably are unprepared to meet considerable reverses"’

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