The Sun.
London, England, 1863-11-16 00:00:00

made to minister fresh stimulus to the innate san-

guineness and endurance of these stiff-necked
Yankees. The papers here incessantly , eat that

" the suppression of the forces of the 1.21 ellion can
and should be completed within the next six
months." It is difficult to guess wio, re the fools
deceived by these mad predictions. Privately, no
one dares to assert that the war will end at the close
of three or 36 years.
Again, there is no end of crowing at some alleged
improvement in the state of the national finances.
" Within seven months," we are told,
~ the people
of the North have subscribed and paid for at par
bonds." The
over 330,000,000 dols. of six per cent.
amount of 5-20 bonds taken by the people in the
course of last week was over 3060,00000,000d0015. dolosf.
such
bonds Saturday and Friday alone 23,0 1
bonds were taken. This is hailed by many as a proof
of the people's confidence in the Government and
faith in the destinies of the country. The Opposition,
however, sees little reason to congratulate the Go-
vernment on the results of these operations. " A
great parade is made of the stock sold," they say,
4, but little is said of the certificates paid ;
30,000,000 dole. of 5.20 bonds at 6 per cent. were
sold by the Treasury, but as large a sum
of certificates at 5 per eert. was sold ; and
35,000,000 dols. of 6 per cent. certificates of in
actually,rtin gvepryapleirt,tioenmwohneicyh.
itThe proce is simply
debtedness are maturing. The Government realises,
pays 5
per
rcen
cent. in
con v e
, greeeenbacko_as,lini.te.,oother paper, on which it pays 6
per' at gold—i.e.,
at the present state of gold 9
per cent. The necessity of issuing more paper
money is not removed thereby. In fact, the opera-
tion is one to pat more paper in the market, after
the conversions which have been effected.

IVithout presuming to enter into the merits of
this financial question, which seems to me to puzzle
Americans even more than strangers, there is no
doubt but the "inflation of the currency," as they
love to call it—the rise in the premium of gold and
in the price of all commodities—is severely felt by
the lo west classes; labour is not to be procured on
any terms, and there are incessant strikes among
mechanics of every description. These Northerners
console themselves with the assurance that their
enemies are worse off than themselves. " Mr.
Memminger," say the Confedercite journals, " still
grinds out, night and day, currency of which
it takes five dollars to buy a pound of pork,
and one dollar to buy a pound of flour." The
Northerners repeat these statements, and fancy
they can easily reconcile themselves to gold at
1461 when they hear that at Richmond "it takes
12 dollars of paper to buy one dollar in gold." No

doubt it will take time to break down the almost
boundless prosperity of the North, and the ruin of
the South is daily being accomplished. But the
North should consider that the Confederates are
fighting for dear life ; that any amount of sacrifice
is cheerfully made if thereby the great object can be
accomplished; and if that object is frustrated, the
bankruptcy of the South will fall with all its
weight on the victorious North, and it will be a
consolation, however meagre, for the Southerners
that their country should fall as utterly ruined, de-
solate and worthless, a prey into the hands of its
conquerors, as the despair of its defenders could
contrive to make it.
The Democrats are very indignant against the
Government for sending home thousands of soldiers
that they might vote in this day's election. Over
4,000 of these transportation tickets were received
at one single office in Washington on Saturday last.
From 20,000 to 30,000 men are said to have left
Meade's army on a ten days' leave of absence. The
complaint of the men in opposition is chiefly that
the public money has been squandered in the interest
of one party, as the soldiers to whom furloughs have
been granted were all declared Republicans, while
the Democrats sued in vain for leave of absence.
They protest, besides, that by thinning the ranks of
the combatants the position of the army is impe-
rilled, as it was at the time cf the Pennsylvania
election, when, owing to the same cause, Lee was
enabled to drive upMeade to the defences of Wash-
ington. " What," they say, " if Lee should happen
to be particularly anxious for battle during these
days 9—he must be at the trouble to seek the Army
of the Potomac at New York."
Several persons have been arrested at Columbus,
Ohio, charged with a " diabolical plot to upset the
Government of the State, or, at least, to release the
State or war prisoners, more than 3,000 of whom
were confined at Camp Chase and in the Columbus
Penitentiary. Among these is the famous John
Morgan. The liberated captives were to cross the
Ohio River at Maysville, probably to initiate a gue-
rilla warfare in the rear of the Army of the Cum-
berland. The whole charge rests on the assertion
that one of the alleged conspirators had supplied
the money for the purchase of axes and chloro-
form. The persons arrested are Mr. Cathcart,
late School Commissioner, Mr. Crisop, Mr. Slade,
and Dr. Gazelle (obscure persons, but suspected of
Copperhead tendencies), and two washerwomen,
Mrs. Parmenter and Mrs. M'Donald, who had
busines at Newport, a suburb of Cincinnati on the
Kentucky side of the Ohio, and are supposed to
have been the bearers of treasonable correspondence
The prisoners have been admitted to bail on 10 ,000
dols. securities each, and have retained as their
counsel the Hon. George Pugh, late Democratic
candidate for the Lieutenant-Governorship of the
State, and the most eloquent barrister in Cincinnati.
Nov. 4.
No news of deeds of arms to-day, but only the
anticipation, vain and vague as usual, of something
that may come to pass to-morrow. The results of
the elections were such as all sensible persons anti-
cipated. According to the returns of the Democrats
themselves,the Administration has obtained a majo-
rity of more than 15,000 votes in the State of New
York. The city itself, though it still gave the De-
mocrats an absolute majority of 21,000 has fallen
short by 10,000 of the majority by which Governor
Seymour was elected last year. There is no doubt
but the success of the Republicans has been equally
great in Massachusetts, Illinois, Wisconsin, Min-
nesota, Michigan, Missouri, and Kansas, where
partial elections came off also yesterday, everywhere
with the best order and calmness; indeed, with an
apathy which naturally sprang from security on the
part of that party which has actually achieved the
victory. The peace-at-any price men have gone to
the wall, with Fernando Wood and Vallandigham.
The war-with-conciliation men have followed them,
with Seymour and his friends. It will take no
small amount of adversity to sober these Yankees ;
still, no one can predict what would happen were
the Southerners to hold out in their present posi-
don till the next Presidential election.