The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1860-11-09
80 IlOWTU 100 HtNEUI0 EIIulVf Ill
THE WEEKLY PIONEER AND DEMOCRAT.
The Disunion Cry...The New York
Stock Market.-Common Sense at tho
South. -. h N

The Disunion Cry...The New York
Stock Market.-Common Sense at the
South. n I'll
The excitement in the New York stock
market still continues. The Herald of Oc.
tober 29th, in a review of the operations Of
the week, says: Sd .
The feature of last week was panic in
stocks, such as has not before been wit
messed since 1857. It is doubtful whether
even that eventful year witnessed any such
wholesale depreciation of property as took
place last week on the Stock Exchange.
Comparing the prices now ruling with those
OF month ago, the decline in the specula.
tive railway stocks is from ten to twenty
per cent, and the aspect of the market on
Saturday was such that further decline OF
an equal extent did not seem wholly improb
able. Nor can it be said that, though rail.
ways would, OF course, earn as much in q
divided as in united confederacy, the de-
cline is wholly unjustifed. In the event Of
any outbreak against Lincoln in the South
no man can tell what the consequences
might be. The whole commerce, industry
and financial existence of the United States
are bound up with the growth of the cotton
plant; and if any disturbance is to take
place at the South which shall interfere
with the movement of cotton, or destroy the
banks, without whose aid it cannot be
moved, then no man can tell where the
mischief will end.
Once before in the history of this country
we have seen financial crises grow out of q
political quarrel. The crash of 1857 was
the consequence of the political strife be-
tween the United States bank and the
State banks; purely political quarrel at
first, it ultimately produced the most de-
structive commercial catastrophe ever wit
messed in the country. Just so now, this
slavery quarrel appears to be mere politi-
cal controversy. But if the South rebels
against the Inauguration of Lincoln-and
there are, as we all know, large body of
men at the South who are determined at
least to try to do so-the question will
cease to be political, and will become COM
mercial in its leading aspects. No foreign
war could prove so destructive to commerce
as such quarrel carried to extreme length.
The Herald's correspondent at Washing
ton, telegraphs under date of October 20:
Tom Corwin writes to friend here as
surfing him that everything will yet come
out right. Hesays if Lincoln is elected he will
be one of the most conservative Presidents
that ever occupied the White House. Rely
upon it he will throw overheard Saward,
Wilson, Hale & Co., and take into his
councils the most conservative and high
toned men in the country, North and South.
1t is believed here that Corwin speaks by
the card. He recently paid a visit to
Springfield.
Intelligence flows in on all sides of fearful
excitementin the Southern States on the
imminent prospect of the election of Lin
coin. The insubordination of the negroes,
which is rapidly on the increase, fans the
fame. A gentleman who arrived here from
the South to-day, states that Minute Men
and Committees of Safety are organizing
all over the South. In Virginia they are
enrolling men all over the State, and the
regular volunteers drill daily. The four
batteries of riaed cannon, twenty pieces,
lately ordered by Colonel Smith, will arrive
in Richmond next week, with five thousand
revolving pistols and twenty-five hundred
carbines Eight hundred barrels of powder
have already gone on. There is no exag-
geration in all this. Governor Letcher
declares openly that its object is to sustain
any sovereign State against federal coer-
cion. Letters from Georgia say all parties
are united for secession on Lincoln's election.
No doubt is entertained here that in less
than sixty days several of the Southern
States will have dissolved their connection
with the government. ..-.....
The recent visit of Defrees is made more
significant by the fact that at the same time
several influential Union men from the
South and Southwest were known to hold
prolonged private conferences with the
Republican leaders here, amongst whom
was Senator King of your State. 1t is
whispered that one result of those confer
ences was the conclusion to press upon
Lincoln the propriety and expediency OF
offering, so soon as it is ascertained that his
election is fixed fact. the post of Secretary
of War to General Sam Houston, of Tex as.
No man is more bitterly hated and feared
by the ultra fre.eaters OF the South than is
the hero of San Jancinto, and no one pos
sesses more fully the confidence of the old
jackson Union men. Little doubt is enter
tanned of Lincoln's making the offer.
The recently expressed sympathy of Sec
rotary Cobb with the proposed action of
the secessionists, so strongly in contrast
with his former Union sentiments, causes
the President the greatest distress.
Apropos of this disunion movement there
is already considerable rivalry springiDg
up among the friends respectively of JEFF.
Davis, Toombs, and Wise as to the su
perior fitness of these gentlemen for the mil
itary leadership of the Southern forces.
The Memphis Enquirer (BelD enters into
cool calculation of the cost of disunion.
1t says:
But let us suppose Mississippi out Of the
Union. She must have government ; she
must have her Congress (who would call it
Legislature0; and she must have Minis
tiers and Ambassadors. She must have an
army and navy, and Post Office Depart.
ment. She must have Secretaries of State
War, Navy, Interior, and Postmaster Cen
eral. There would be glorious contest for
all those Offices and such canvass would
be entered upon as was never seen on this
continent before.
All this would cost money; and some.
body must be taxed. 1t would not do for