The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-29

duties! And yet such laws would be no
wore than the Personal Liberty Lawn Of the
kor1h
The South cease to feet any conadsuce In the
integrity OF the North; ANA while these Per
soDai Liberty enactmepx remain in foros.
defiant as hey are Of the authority Of the gene
raj govern ment. It were vaiu-it we're almost
sp insal, to the manly Independence OF the
southern character-to hope for any advance
whatever on their part towards a econciliatlon
That slavery IL, n Itself an evil, few either
south or North. viii deny; but that evil has
existed and does exist II existed when tina
continent was under British ruls--it existed
when the glorious Declaration Of Independence
us1 signed and 1t has been recognized ever
since. Slaves are the property OF their owners
and their right to such property is recognized
by the constitution b. Congress and by the
highest Judicial authority. This right has been
,amper-d with by the Northern aboiition,sts
with rancoroas taunts and insults, and incendi
sry attempts to induce Instruction and murder,
nnnl they can be- tolerated no longer In vain
they told that the cotton States require
slave lsbor-thst the property they hold should
be as sacred to them as other property Is 70
eny citizen In the United States
We have thus, ~ scGle length gone over this
ground, so often reiterated In the columns OF
this journal, 70 place The matter once more
clearly before the public. Ii is the attitude
assumed by the South, and the sober earnest
uess Of their sisaoy and onward proceedings
which have caused this panic ; for men OF ordi-
nary intellect at once foresaw the arrangement
acd loss which wonld tiow from i,s natural and
only pos,ible resnlt-want OF confidence.
Already has the loss here been felt-in the
great fall in United States stocks, which
the panic of 1857 scarcely affected; tn
the depreciation OF ali public stocks, and
in the CONSERVATION Of the banks aad
the brokers. IL is supposed that the grose
value OF tae railroad, State, corporation and
other' stocks. which form the aattrid Of the
stock Exchange, is not less than two thousand
millions; and If We estimate The decline which
took place immediately after the event'ui 9Th
II November at AL average OF ten per GET,
land it is a low average, we have . loss OF two
hundred millions of dollars But 1.-THE end is
citation in ships, from Northern vessels being
rejected aud English ships employed to convey
10 Europe cotton and other products Of the
Sou,h-the direct Importation into Southern
porte of the manufactures OF Europe the
! Withholding. for long time at least, OF all pay
ments of existing debts to the Northern mer
chants by their customers in the South, and tina,
| custom Withdrawn forevsr-snd the bankrupt
] cy which will extend through these Northern
| States 10 consequence-th at least the most
skep,ical viii see the folly OF having created.
and the greater folly OF having disregarded, this
I dreadful feud provoked by Northern fsassics
towards the chivslrons Southerners. Nor will
its evils end. here; for If ,he black republican
journals gosd on tb.-e 8ery spirits 10 point to
provoke civil war. God only knows the misery,
! horror and de~titntion which will sweep over
the whole land.
| Nor will its range be limited TO the United
| States. The commercial interests Of Europe
are so completely interviewer with those OF the
! Uai,ed SLa.sa thu, cord of sympathy will
! he of once touched when this revuision ex.
! ENDS across the Atlantic. What are tn thou
sands upon thousands employed 10 the factories
OF England to DO When deprived, even for
time. OF their needed supply Of the raw mate.
| rial--,he cotton Of the South, They must b.
! discharged and thrown out Of employment. II
he North lie impoverished as IL In sure to be-
come by the withdrawal Of the South from
being purchasers of Der manufactures aud the
employ ment Of Der ships and of the payment Of
! debts due TO her-where viii the merchants Of
Europe geek for tho recovery Of the enormous
Indebtedness existing on the part OF this coun-
! try to them? VIII not bankruptcy fasten upon
the merchants OF Europe "A f-srfuiiy as
IL viii destroy ihose on this side the Atianticf
This lie . fearful picture. bat 1t IL not an exag.
Qerated one; and we have only to resr to past
commercial paDics here 10 prove the sympathy
existing between America and Europe when
the moving canses were less deep and less To-
tricate than those which have given birth "a
tha, we are now treating Of Let the North
awake, ere II be too lac, TO sense OF theif
madness and folly; and, BY re'raciug ,heii
STEPS and rendering TO ibe South what are ,hetr
Just riehts, they may Jet create ,hs' measure oil
o0uld. nee which will induce them 10 desire IL
remain q part Of that glorious Union which
Washington founded, and which for over eiehts
years has been our beast and he envy OF the
Old World.
4
POSITION or Tur CHEMICAL BAyg.-we have