The Sun.
London, England, 1862-03-11 00:00:00

SUN, LONDON, TUESDAY EVENING, MIRCri 11, 1862.

had made great efforts to establish an effective
blockade."
Lords STRATHEDEN and ABINGER, who seem to
feel much sympathy with the South, were not left
by Lord RUSSELL quite without consolation. Just
now, when things are beginning to look so dark for
the Slave Confederacy, Lord RUSSELL is hoping for
a peaceful separation, and the formation of two
great " United States." The following statement,
made as if from knowledge of the course which
things are taking, will surprise many of our
readers:--" Having taken this neutral course, I i
trust within three mouths, or perhaps sooner, we
may see the end of this civil war; and I hope it
may end in a manner consistent with the welfare
and happiness of both parties, and a renewal of the
old feelings between North and South. If so, they
may consent to a peaceable separation into two
States that might be powerful—inhabited by men
with very different education, perhaps with very
different natures, but who may have before them a
career of prosperity for centuries to come. If this
should be the case I should rejoice above all that
during the contest we have done nothing to aggra-
vate it, and that while we have constantly pursued
a firm course it has at the same time been a course
of conciliation."

it woud
of seem, may be explained partly on the
ground
indifference or disaffection to their cause.
l
Some of the regiments which surrendered have
offered to fight for the Union ; others came in and
declared themselves tired of fighting against it.
Certainly there are not wanting indications that
the South is tired of the conflict, while the North
is again holding forth the allurement of hearty pro-
tection to slavery.
If the really Southern States were, indeed, deter-
mined to be, what
_they call free—what, in reality,
is but an oligarchy of slaveholders—it might be
difficult to bring them into subjection. As dis-
tinguished from the Border States, they have such
a scanty population, and such vast territories of
swamps and forests, that any efficient rule over
a few millions of whites and their slaves so
scattered, would be impracticable. Climate
and the nature of the country are confessedly
equally against invaders. But even these wretched
States need supplies, now, from civilisation, and
must purchase them by exporting to more civilised
countries. With the North masters of the
great rivers and of the ocean, the Atlantic
and the Gulf States would be at their mercy. Mr.
LINCOLN would merely have to be patient, and
with the coast and river towns in his hands,
and the harbours all blockaded, the refrac-
tory States must give in at last. We should not
however be surprised to witness a sudden change
of sentiment on the part of the South after a few
reverses, and the whole quarrel made up very
quickly.

One exception we must take to his Lordship's
remarks—it is to a matter of opinion on which he
can have no better information than the rest of us.
He said that if we interfered in the quarrel the
North would have at once declared universal eman-
cipation, and the fear of this ought to be, he
thought, a warning to us; his words are :
" If we had been obliged to take part in this war
any hope of seeing an end to the system of slavery
by peaceable means would have vanished. In that
case the North would have proclaimed a general
emancipation of the slaves, and though it is our
earnest wish that the sin and stain of slavery should
cease, yet there is nothing we should regard with
greater horror than the devastation, the burnings,
the murders, and pillage among a population of
4,000,000 slaves that, in the name of liberty to the
negro, might haVe been perpetrated." He proceeds
to express his hopes for peaceful emancipation—
which we wish his lordship may be enough of a
METHUSELAH to witness. But we are surprised
that Lord RUSSELL, with our own acts in the West
Indies before his eyes, should repeat the old cant
about the havoc made by emancipated slaves.
There could be none, unless the masters resisted,
and then they would richly deserve all they might
suffer.

AMERICA.

QUEENSTOWN, MARCH 10.

The Royal Mail steamship Asia, from New
York, on the 26th ult., arrived here at 11.20 a.m.,
with 27 passengers and 269,386 dols. in specie.
She landed 83 sacks mails, and proceeded at
11.35 a.m. ; all well.
The Asia experienced strong gales of easterly
winds during her passage.
RUMOURED EVACU ATION OF NASHVILLE.
NEW YORK, FEB. 26, AFTERNOON.

Contradictory despatches have been received of
the evacuation of Nashville by the Confederates,
and its occupation by the Federal troops under
General Buell.

We have all heard of the ancient Roman who,
during the siege of the city concluded the purchase
of a field on which the enemy was then encamped.
JEFF. DAVIS has almost, if not quite surpassed the
Roman. The " anaconda coil" of the North has
not only grasped the vast territory of the South,
but has begun to draw itself tighter around it.
Yet, on the 22d of February, WASHINGTON'S birth-
day, Mr. DAVIS was duly inaugurated at Rich-
mond as the President of the new Confederacy. Is
this just confidence or the last trick of despair?
But a few days before, Fort Donnelson with its
20,000 men had surrendered; a surrender following
quickly on two considerable defeats, and the ex-
pulsion of the Confederates from Kentucky. Ten-
nessee lay almost at the mercy of her rightful
masters, and it is more probable than not, that at
the moment when he was speaking, its capital
Nashville, in which the Confederate Congress
had arranged to meet a short time ago, was
either in the hands of the Federals, or
was asking their mercy. It was also pretty plain
that, with the other Western border States, Ten-
nessee had obtained freedom to give her willing
support to the Union. In fact, the most valuable
of the Western border States were all hopelessly
gone; and in the East the Confederates were in the
hands of Federal naval expeditions. Under all
these discouragements our modern Roman could
take the Presidential chair with the cool remark
that, although the contest was not yet ended, and
though the tide was at present against them, yet
that " the final result in their favour was not
doubtful."

The .New York limes credits the news. The
.New York Herald thinks that Nashville is vir-
tually evacuated, and that no stand will he made
there, but that a battle may occur in its vicinity.

The Tribune says—" The Confederates, under
Generals Johnston, Pillow, and Floyd, have
stopped 12 miles north of Nashville, and are pre-
paring to make a desperate fight for that city."
The repotted evacuation of Nashville is generally
-...redited in New-York.

The New York Tribune does not think that the
Governor of Tennessee will return to the Union.

The Memphis Journal predicts that Columbus
will have to be abandoned.
The Cincinnati Gazette states that 3,000 of the
rebels taken prisoners at Fort Donnelson had asked
to be enrolled in the Union army.

It is stated that no opposition was offered to the
Union army on Cumberland River.
The President has taken military possession of
all the telegraph lines, and military supervisors of
messages have been appointed.
Journals publishing unauthorised military news
will be punished.
Both Houses of Congress have passed the Trea-
sury Note Bill. The 50,000,000 dols. of notes here-
tofore authorised will be received in payment of
duties, but apart from this some duties on imports
must be paid in coin, which will be pledged for
the payment of the interest cu the notes and
bonds.

The Tribune says the nomination of General
Scott as Minister Extraordinary to Mexico has
been sent to the senate.

Rumours of a very early movement of the army
on the Potomac are again current.
Burnside's expedition has burnt Wintow, North
Carolina. No landing was effected, on account of
the presence of a large Confederate force.
General Halleck has forbidden the stealing or
concealing of slaves, assigning as a reason the
urgent necessity of proving to the Southern
people that the Federals came not to destroy the
Constitution but to restore peace and safety to
the country.
JEFFERSON DAVIS'S ADDRESS.

We shall see in a day or two the counter-Presi-
dent's address in full; but in the telegram it seems
as if he spoke, after all, with somewhat of hated
breath. Last time we had an oration from
him, the Trent affair was just begun, and he
felt pretty confident that the North had
got itself into a troublesome difficulty; he
doubtless thought also that irritated, as well as in-
convenienced, England would interfere with the
blockade. His hopes of foreign intervention must
have now greatly diminished, yet one of the ele-
ments of his hopes seems to be that " the world at
large is interested in opening the Southern mar-
kets." This may be true, but the world is every
day learning to do without either Southern or
Northern markets. Both the Federations seem to
have an incurable conceit of their indispensableness
to mankind; nowas a model of free government, which
they are, in the sense of making free with Govern-
ment ; now as monopolists of cotton cultivation, and
great corn-growers, and consumers of European
manufactures. A year of interrupted trade has,
however, passed away, and though our exports to
America have diminished from £21,000,000 to
£9,000,000, we really seem likely to survive the
blow. Indeed, with many of us the worst fear we
have is, that the quarrel may be patched up too soon
to give to India the chance we so much wish for
her.

Jefferson Davis was inaugurated at Richmond
on the 22d February as President of the Southern
Confederacy for six years. In his address, after re-
viewing the events of the struggle, he says—
" Although the contest is not ended yet, and the
tide for the present is against us, the final result in
our favour is not doubtful. The period is near at
hand when the North must sink under a load of
debt which has assumed dimensions which will op-
press future generations.
"If. foreign acquiescence in the pretended
blockade has deprived us of foreign trade, it is fast
making us self-supporting and independent.
" Tbe interests involved in the present struggle
are not only Southern ; the world at large is in-
terested in opening the Southern markets. After
their recognition the Southern States will offer
most favourable markets for foreign manufactures.
Cotton, rice, tobacco, and sugar would furnish an
attractive exchange. The constancy of supplies
would not be disturbed by war. The Confederate
strength would be too great to tempt aggression,
and the character of Southern production would
make the people too much interested in foreign
commerce wantonly to disturb it. The Constitu-
tion admits no war of conquest.
" Civil war cannot occur among States held to-
gether by volition only. This voluntary associa-
tion does not, however, diminish the security of the
obligations by which the Confederate may be bound
to foreign nations.

President DAVIS has, however, other grounds of
hope. Debt is to crush the North. There is no
doubt, according to the laws of bankruptcy, it
ought. The North has not, more than the South,
wherewith to pay. It has nothing but paper for
every claimant, except those who ask for the inte-
rest due on its debt. But Mr. DAVIS may rest
assured that if the North continues to be victorious
it will not fail for want of money. Money is a
question of confidence. If Mr. STANTON succeed in
his department, Mr. CHASE will succeed in his. The
capitalists and hoarders of money will go with the
conquering side ; and all will be ready to supply the
wants of those who are to win. Mr. DAVIS speaks
no doubt feelingly of the effect of governmental
penury. It is as likely as anything to break down
the spirit of his own army ; and he naturally hopes
that Northern troops will soon suffer from the
same cause. All turns, however, on the one ques-
tion of continued and visible success. If the
Northern generals can maintain this, their armies
will not want supplies.

" At the time the States seceded they proposed a
settlement on the basis of common liability for the
obligations of the general Government. At the
darkest hour of the struggle a permanent Govern-
ment takes the place of the Provisional Govern-
ment.

" After a series of successes and victories we
have recently met with serious disasters, but in
the heart of a people resolved to be free disasters
stimulate to increased exertion."

The Richmond Whig thinks that the Jefferson
Davis Government is the most lamentable failure
in history, and says that the helm should be sur-
rendered to abler and better hands. The inaugu-
ration it says is a bitter mockery and miserable
compensation for the ruin of a free people.
President Lincoln has signed the Treasury Note
Bill, which is now law.
COMMERCIAL INTELLIGENCE.

President DAVIS is inaugurated for six years—
and he says, " At the darkest hour of the struggle
a permanent Government takes the place of a pro-
visional Government." It is indeed a curious pro
blem how " permanent" this Government will
prove. The time is near, be says, on the one
hand, when the North must sink under a load of
debt ; and on the other, though the South has,
after its victories and successes, recently met
with serious disasters, " yet in the heart
of a people resolved to be free, disaster
stimulates to increased exertion." It is in these few
words that the decision of the whole question lies.
Is the South determined to he free ? Is it so deter-
mined that it will be roused, not daunted, by disas•
ter P On this grand point our information is but

NEW YORK, FEB. 26.
Money estEy. Exchange steady at 114. Gold
heavy at 3 premium. Stocks heavy; New York
Central 83-1, Erie 351, Illinois Central 651.
Cotton—Little doing, as holders decline to make
any abatement. Middling upland 23c. Sales in
three days 2,000 bales.
Breadstuffs generally dull and heavy.

The Duke and Duchess of Beaufort, accompanied
By the Duchess Dowager, have left town for their seat,
badminton House, Gloucestershire.

The Duchess of Sotomajor has arrived at
Maurigy's Hotel from Brighton.
The Earl and Countess of Cardigan will continue
to receive a succession of visitors until the closo of the
hunting season. Captain and Mrs. Algernon do Horsey.
Viscount Royston, and the Hon. Georg° Fitzwilliam have
joined the circle assembled at Deene-park,

imperfect. Some of the Southern papers write •
ILATT;'srr NEVVS
freely enough in condemnation of the Government. S.
"It is the most lamentable failure in history," says
the Richmond Whig. "The helm ought to be com-
mitted to better hands." The inauguration itself, of
which he who is the subject speaks so magnificently,
'is said to be a bitter mockery,' and a miserable
compensation for the ruin of a free people." In
Tennessee the conduct of the Confederate soldiers,

DISSOLUTION OP THE PRUSSIAN
CHAMBERS.

BERLIN, MARCH 11.

The Chamber of Deputies was dissolved to-day
by a Royal decree, countersigned by all the Min3"-
sters except M. Bethmanu-Hollweg. The Assembly
separated, with three cheers for the King.
The Upper House immediately afterwards ad-
journed.

PARIS, MARCH 11.

In the Corps Legislatif yesterday M. Lemercier
opposed the intervention of the Government in the
elections.

Paragraphs 1 and 2 of the Address were then
adopted; after which several members spoke on the
third paragraph.
The Moniteur of this morning states that the
Presse has received a first warning, on account of
an article on the Corps Legislatif.

GENOA, MARCH 10.

The Provvedimento Committee, in its sitting of
to-day, elected Garibaldi as its President-in-Chief.
A letter from Manini having been read, Gari-
baldi was authorised to demand his recall from the
Government.

The Committee has adopted the principles of
universal suffrage, and will address a petition to
that effect to the Italian Parliament.

MADRID, MARCh 10.
The Congress to-day rejected the laws of Parlia.
mentary qualifications by 72 against 61.

Senor Salaverria asked the Chamber for leave to
issue notes to the amount of 190,000,000 reals.
Mr. Roos, Commissioner of the Confederate
States of America, has arrived here.

BERLIN, MARCH 10, EVENING.
The Neue Preussische Zeitung of to-day says :
" We learn that the King has declined to accept
the resignation tendered by the Ministry."
Up to the present time the sitting of the Chamber
of Deputies appointed to take place to-morrow has
not been countermanded.

VIENNA, MARCH 10.

In the Chamber of Deputies to-day the Govern-
ment introduced bills proposing an augmentation
in the price of salt, and raising the tax upon beet-
root sugar.

It is estimated that these measures will increase
the revenue by 5,000,000 florins and 1,000,000 florins
respectively.

THORN, MARCH 10.

Yesterday being the anniversary of the Emperor's
accession, a supplement to the official Dziennich of
Warsaw contained an Imperial decree pardoning
41 persons, and commuting the sentence of 32
others, all of whom had been incarcerated for trifling
offences.
Warsaw is quiet.

PARIS, MARCH 10.

The Presse of this evening publishes news from
Greece, stating that the insurgents at Nauplia con-
tinue to organise themselves for defence :
" The Royal troops are beaten upon the occa-
sion of every sortie.
"The insurgents possess 48 pieces of artillery,
with materiel and provisions in abundance.
" The besiegers are in need of all kinds of sup-
plies."

RAGUSA, MARCIE 10.

The negotiations between Omar Pasha and the
insurgents having failed, on account of the exag-
gerated nature of Luca Vucalovich's demands, the
Turkish forces advanced upon Zubzi to-day.

FRANCE.

PARIS, MARCH 10.

In the Chamber of Deputies to-day M. Baroche,
replying to a question from M. Darimon respecting
the Law of Public Safety, explained that certain
articles had been allowed to lapse, while others
would still subsist till 1865. M. Baroche con-
tinued,—

" I expressed a hope in 1861 that this law
would never be applied. If I were desirous of
importing excitement into the debate I would ac-
quaint the Chamber with facts into which a judicial
inquiry is now taking place. The authorities have
seized among the papers of the prisoners a pro-
gramme of government, headed by the words, No
more Empire, no more Emperor,' and adding that
the future alone will have the right of inheriting
from deceased citizens." (Agitation.)
M. Thiroche continued :

" I trust that the persons arrested will be able to
justify themselves. Should this not prove to be
the case, the sth and 6th articles of the Law of
Public Safety will be brought into operation,"

In conclusion, M. Baroche denied that curve:

lance had been exercised.

M. Favre, however, maintained the right of the
Government to exercise it.

BOURSE, March 10.—The market opened at a
slight advance on the closing rates of Saturday,
but the improvement was not long maintained,
Stock became rather offered, and prices again re-
ceded, Threes, for the Account, being now at 69f.
80c., with but a moderate amount of business
doing. Railway Share Market also heavy, with a
decline on most of the lines. The market slightly
rallied towards its close.

The following are the closing quotations :-
4t per per Cents ... 98 Credit Foncier l4BO
Do end month.... 98 401 Belgian 4} —
3 per Cents
Do. end month 69 93 ; Roman
Bank Shares 3100 Austrian
Credit Mobilier.... Spanish Threes 5l
Do. Account — ! Home Debt