The Sun.
London, England, 1861-11-05 00:00:00

THE 1V OR2HE_RN STATES OF AMERICA

(From the
-Correspondent of the Times.)
NEW YORK, OCT. 23.
Government Sixes (which may be called the
Consols of the United States) are selling to-day at
961. As this gives a profit to the taker of the new
loan, and as it is about where the securities stood
before Mr. Seward's circular, it, is fair to assume
that Wall-street, at least, does not see a serious in-
ternational difficulty in the correspondence between
Lord Lyons and Mr. Seward, which has since been
p üblished, and which is assumed to explain the
energetic circular of the Minister. It is unfortunate
for the effect upon the public mind that such a cor-
respondence has taken place and been printed ; for
it tends to still further increase the ill-feeling that
has been growing up in this country since May last.
In the latter part of that month (if I may quote a
short extract from one of my letters), I wrote that
" the public mind is, however unjustly, becoming
possessed of the idea that England sympathises
with Southern slavery in its attack upon the insti-
tutions of this country. Under this apprehension,
or misapprehension, the good and kindly feelings
which three generations of peaceful and friendly
relations created, are fast vanishing away." I ani
sorry to say there has been no day since then that I
could retract or modify that statement. The current
of feeling which was then setting so strongly has
since but accelerated in its course, partly by the
effect of a series of circumstances over which
neither Government has control, and partly by the
bitter articles appearing from time to time in the
public press of this country, and reflected in tone
and character on the other side of the Atlantic. An
alienation produced by such causes is not likely to
be decreased by a correspondence in which the
Minister of a foreign Power lectures the Govern-
ment to which he is accredited on a want of fidelity
to its own laws. The public of New York, so far as
I can judge, appears to approve the reply of Mr.
Seward, but to attach no further importance to the
question. It is believed here, and Wall-street
practises upon the belief, that no foreign Govern-
ment will claim for its subjects who may be denizens
of the United States exemption from the restrictions

;o which the citizens of the United States arc sub-

jected ; and this is, perhaps, the most sensible way
of disposing of the particular question that raises

lie issue.

The wide-spread feeling of dissatisfaction to which
I have alluded finds expression in different ways,
according to the tempers and tastes of the various ex-
ponents. In the "sensation" journals of New York
it blazes forth in language of questionable English,
but strong denunciation. In the more dignified
pages of the magazine it clothes itself in the more
guarded and regretful language which appears in
the November number of the Atlantic monthly. I
cannot better illustrate the views of the educated
classes on this subject than by quoting a few words
from the article entitled "Why has the North felt
aggrieved at England ?"
The writer says:---
"Foremost among the grievances which we at
the North may allege against our brethren across
the water—foremost both in time and in the harm-

ful influence of its working—we may specify this
fact—that the English press, with scarce an excep-
tion, made haste, in the very earliest stages of the
Southern rebellion, to judge and announce the hope-
less partition of our Union as an event accomplished
and irrevocable. The way in which this judgment
was reached and pronounced, the time and circum-
stances of its utterance, and the foregone conclu-
sions which were drawn from it, gave to it a
threatening and mischievous agency, only less pre-
judicial to our cause, we verily believe, than would
have been an open alliance between England and
the enemies of the Republic." " H English opinion
decided that our nationality must henceforth be
divided, it seems also to imply that we ought also
to divide according to terms dictated by the sece-
ders." " There was something alike humiliating
and exasperating in this implied advice from her
that we should tamely and unresistingly submit to
a division of continent, bays, and rivers according
to terms defiantly and insultingly proposed by those
who had a joint ownership with ourselves. How
would England receive such advice from us under

like circumstances ?" "We protest against the
verdict which finds expression in all sorts of ways,
and with various aggravations, that, in attempting
to rupture our Union, and to withdraw from it on
their own terms,at their own pleasure, the seceding
States are but repeating the course of the old 13
colonies in declaring themselves independent, and
surrendering their ties to the mother country."
" It might seem evasive in us to suggest to our Eng-
lish critics that they should refresh their memories
about the causes and the justification of our Revo-
lution by reading the pages of their own Burke.
We are content to rest our case on his argument,
simply affirming that on no one point will it cover
the alleged parallelism of the Southern rebellion."
These few extracts sufficiently show how this is
regarded by the educated classes, and goes far
to justify all I have ever said either of the depth
or the prevalence of the feeling. It is out of
such national antipathies as are germinating under
our eyes, without an effort to stop them, that
national discord grows. If unchecked they grow
with each passing day, until they are infused
through the body politic, and at length break out
in violent action. What can there be more fatal to
the cause of liberty and good government in the
world than that such an alienation should spring
up between Great Britain and the United States,
and that it should be permitted to expand through
mutual misapprehension, until it has reached a
stature to control the action of the Government
The public confidence in the Government, as
measured by the subscriptions to the National Loan,
appears to be unabated.
Soon after the banks sig-
nified to the Secretary of the Treasury their inten-
tion to avail themselves of the option to take the
second 50,000,000 dole, they offered at once to com-
plete their subscription by taking the third
50,000,000 dols, the option for which matures in
December ; but the Secretary declined to allow
them to take it before the maturity of the option.
When the December subscription is made the Go-
vernment will have received from this source
150,000,000 dole. Congress authorised a loan of
250,000,000 dole. Of the remaining 100,000,000
dole, 50,000,000 dole, will be absorbed by the issue
of demand Treasury-notes, which go into circulation
as currency, and are likely to stay there, while the
credit of the Government is as good as now. In
form, size, execution, and general appearance they
resemble the ordinary bank-note of the country; and
being redeemable at any time in gold at the office of
the Assistant-Treasurer, they suPPIY a groat want