The Sun.
London, England, 1865-03-13 00:00:00

.
of the man whom they have unanimously called
to the head of their railitary affairs in this national
crisis. As we have before said, the employment of
freedom would be as great a source of moral as of
material strength. It would prove unmistakeably-
to Europe that slavery is not the cause of the war,,
and would be the greatest possible blessing to the
Confederacy itself, by enabling it to get rid of the
plague-spot, and to solve that terrible problem
which has so long retarded American civilisation
and hampered Southern energies.
The Governors of Georgia and of North Carolina
I have addressed the people of those States in very
1 different terms. If we are to believe the New York
version, which may perbapsbe looked upon with some
suspicion, as the reporters may' speak their wishes,
the Georgian Governor denounces the policy of
JEFFERSON DAVIS, and objects to the arming of
slaves. Governor VANCE, of Carolina, on the other
hand, very justly declares that the only real danger
to Southern independence are depression and dis-
sension among the Confederates themselves. He
urges upon the thousands who are absent from their
post the imperative duty of returning to their stan-
dards, and very sensibly reminds them that if they
do not act with promptitude and unanimity, the
abundant harvest fields of last year will this year
be ploughed by the foes.
Columbia has been burnt by SHERMAN'S troops
in retaliation for the fire of the citizens—a specimen
of Northern magnanimity which must have shown
the Southern people how much forbearance they
might expect from Federal supremacy. We shall
wait with interest the arrival of the next mail,
which will probably bring us intelligence of an
I
eventful and important character.

After a winter of unusual severity and hardship
the spring has dawned gloomily enough in some
parts of England. Indeed, it would seem as if
misfortunes of all kinds were conspiring together,
and the calamities are almost unparalleled in their
magnitude, as well as overwhelming in their sudden
conjunction. We have as yet scarcely recovered
from the fearful crisis occasioned by the stoppage
to the cotton trade, and now the community is called
upon to face new troubles of an aggravated descrip-
tion. The failure of the Bank at Birmingham is as
great a misfortune as could possibly have happened,
for its collateral circumstances are so peculiarly
unhappy. It is often observed upon the
occurrence of such events that many things
aggravate the calamity, but there can be
no doubt that in this case it is no exaggeration to
declare that the particulars of the failure are most
deplorable in their immediate and remote conse-
quences, and their direct and indirect influences.
The great reputation which the bank has so long
possessed, and the extensive dealings relating to it,
have contributed to heighten the calamity to an in-
tense degree, and the numerous customers connected
with it occasion the spread of the evil to be enor-
mous in its extended ramifications. The excitement
was, of course, very great when the sad intelligence
became known, and as the time Passed on, and
allowed people to reflect upon what had happened,
despair succeeded to the sentiment of dismay at first
so generally experienced. It appears that this cala-
mity which has come so suddenly upon the public
has been anticipated for some time past by those im-
mediately concerned in the business, and with a
view of warding off the casualty the firm sought to
become amalgamated with the Birmingham Joint-
stock Bank ; but, unfortunately, as will often occur
in such matters, the steps that were necessary to be
taken to effect this arrangement hastened the advent
of the catastrophe which caused such consternation
on Saturday. There are some valid reasons adduced
for the stoppage, and it seems that for the last ten
years the firm has been struggling to extricate them-
selves from the embarrassments into which some
unfortunate occurrences had involved them. It is
not so surprising, then, considering these circum-
stances, that this deplorable calamity should have
occurred. Large sumswere drawn out of the bank
by the ATwoons some years ago, and in the circular
issued on Saturday it was stated that to that circum-
stance the failure is to be attributed. It is estimated
that the liabilities of the firm are nearly a million,
and therefore it will be readily understood how ex-
tensive the losses will be. It is a sad reflection to dwell
upon, in connection with this affair, that the poorer
classes have invested their savings in this bank.
The prompt course pursued by the joint-stock bank
was the means of averting much of the calamity
that otherwise would have been almost overwhelm-
ing in its character. Great credit is due to the libe-
rality of the managers, who opened a credit
account, which afforded relief in some degree
to the distracted sufferers by the catastrophe.
By this means two hundred credit accounts were
opened, and thus the wages of many were paid who
otherwise would have fared but badly. It is satis-
factory to catch one ray of light like this amidst the
gloom of so melancholy an occurrence, and nothing
is so rare to meet with in cases of this sort as that
prompt and active forethought which assists in-
stead of adding to the pressure of the evil. The
full extent of the failure may not be so disastrous
in some respects as was feared at first, and it is a
great point gained that the shock of the first part of
the affair should have been in some degree miti-
gated. It is always to be dreaded that in these sad
affairs an angry feeling should arise, and that the
sudden shock produce such an effect upon un-
disciplined minds that disturbances arise, which of
course increase the evils already so difficult to bear.
The lock-out is a calamity that gives rise to more
painful reflections than the failure of the bank, for
the one was in all probability impossible to avert,
while the other is certainly the consequence of ill-
will and selfish views on the part of the many in-
fluencing the rest. No possible excuse can be
framed for those who cater to the views of a clique,
and answer the purpose of prejudice. It is most
unfortunate that the assiduous efforts of many well-
intentioned persons should not-have prevailed to a
greater extent than they have done, and that all has
now resolved itself into the question of which is the
strongest—the masters or the men. Such a con-
summation of disputes is always to be dreaded, and
in this particular instance it must be declared that
the blame rests chiefly with the masters ; they
seem to have precipitated matters in order to
force on this trial of strength, and put into execu-
tion those intentions which they had previously
formed to put down with a high hand and a strong
intent those vexatious strikes which continually
harassed them, and interfered with their business.
It is melancholy to contemplate the distress which
will infalliby ensue before long among those thus
thrown out of employ. At the outset of these affairs
the blow is not experienced in full force, because
there is money in hand, but as time goes on, and
little by little the resources dwindle away, gaunt
famine stares them in the face, and their homes
present frightful pictures of misery and destitution.
It is to be trusted that at the meetings which will
be held during the next few days some desirable
arrangements will be made, but we must protest
against the mode pursued by both masters and men
to settle affairs. It is a disgrace to a commercial
country. ty,Emanpdloyiters a scandal to a Christian
f
and the employed denytoirlegiret
otlhvenirinrteesrpoesntssiibnilitthie:s,
restlessly casting consideration to the winds, and per.