Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1860-11-17

prices and buying low as possible But that natu
raj course things had been INTERRUPTED by the Gov
eminent OF the United States for many wears mast
But ne did not subscribe to that doctrine which is
maintained by some, that there are lot essential an
serests common TO large portion of the United
States- lie oeneVed every section of the Union
North, South, West and East were insepara bly
connected Ihere was no such thing as an adverse
interest 1t was true that artificial state of things
had grown up o
Ihere was no difference between the great atu-
rat interests which God and nature had given n ;f
there was any difference it arose from drec, of
UNJUST iegisatlon Unjust legislation ha6 prod, iced
II ana not the diversity of SOIL habits and purs nits
Inc true doctrine was, to extend equal protec IN to-
al III .neir various habits and pursuits ana leave
the pain ree Tor generous and beneficial con not
ton of ALL ii pe'i
he begged leave to read,a short extract Fl nm
speech OF Mr. Bayard, man of eminent abiI itv n
republican, patriot; and he, OIr. B. J be icyed
tnat tne sentiment would and ought to hi we its
weight 1t was at particular period of II "a sn,.
barge and the remarks were made in the 90, 80 nc
speech on the question; and in reading this he in
tended 10 make no special reference to that rorton
Of the Union they had right to express wb at thew
I' ne merely referred to it illustrative. of the
principles OF our Government In the course oftbat
gentieman's remarks on the repeal of the G mhargo
law, Nh. Bayard said as follows: o.
an Know that the opposition 10 the embar in tb
Of f S; rs nor the opposition of political party or
off he pla
10 measure which they feel as oppressire and rgpTd nc
ed by rcs Inc bnp people of this country govern
a ~ FORCE. OUT oy affection d confidence Iii for them
sxsae ana they do Ut like our laws it our duty
"lf they do moi IL" laws, it is ou duty to
repeal th.ln !; so said he (Mr b. 1t was right and
Prorer that the other TENDERS of the Uni IN should
respect their feelings, nay even their pre udices
Suppose that our Government had pursue n differ
ent course; had steadily refused to repea / the en-
barge laws had determir in the langu age of the
present day, to make IN experiment to test the
strength of the Union; and that our felc w-ctizens
of the East should have coeFced at the ont of the
bayonet; what, in all probability would have been
the consequence? Re believed there would have
been bloodshed, and that the consequence would
have been dissolution of the Union ana that the
prospect of a free Government would have cen de-
strcyed; that all the States of the Union would
hare become separate Governments and civil war
would have resulted. The calamitouS conseouen ces
which weuld result from dismemberment of the |
confederacy, none could doubt; each of the great
divisions seeking to strengthen themselves against
the aggreSsons OF the Others would give large pow
ers to their Executive authorities which would most
probably terminate in the establishment of mill |
tary deSpOtSn in each.
Proud as he was of the achievements which had |
~ performed under the star-spangled I,.,,>- !
proud as he was OF the s:ars and Stripes which have
futtered in every sea and erGry cline; anxious as
he was for the glory of the country; yet God forbid
that those stripes and stars, which had heretofore
teen the ralying point of heroism, should float
oyer the nangled corpses of our bleeding country
men. God forbid that our country should undergo
this sad and disastrous revolution; for ne believed,
whenever that should take place, not only the liber
ties of this country but the best and brightest hopes
of the civilized world would be destroyed forever.
In the meantime it is vain to disguise the fact
that the commerce of the South and all parties con-
nected ia trade with the South stands position
of 4 Is in NIL
Southern cities-a panic without substantial basis,
but none the less formidable that account a |
panic which, Hit be not allayed, will destroy one
half the mercantile houses and more thar h9lf the
banks in the Southern States before the winter is
out and create great deal of trouble in the North
also At Charleston business of all kinds is sus- |
pended; and while the mercantile men appear to be
engrossed with considerations of flags and cockades,
bill has been introduced into the Legislature to
authorize the banks to suspend specie payments, |
and the credit Of the Charleston banks is already
goNe. At Savannah the merchants evnce more cool
ness ard Judgment but among the people scarcely
less excitement prevails At New Orleans the banks
fuse to negotiate the usual sixty day bills against
cotton. End refuse to buy the best sight bills on
New York aSove IT per cent discount. The alarm
thus generated SPREADS rapidly. Agents of North
EN- houses though not infected with the prevailing !
epidenir dare not buy bills a. usual not knowing |
whom the panic may destroy. New York banking |
houses dsirustfui of the pending agitations decline
to buy at all for the present Planters are unaoe |
to send their cotton to market or when they have
sent it 10 market cannot get he money for 1T
Merchants owing money to the North cannot pay
their debts This is as far the thing has gone as
yet The next steps IN the ordinary course OF events
will te an epen quarrel between the merchants AID
planters of the South on one side and the banks on
the other ending of course the ike quarrel end
ed here in 1857, in general run the banks, and
their forced suspension. Then would follow gen
eral liquidation, and an enormous depreciation on
property, including State stocks, which largely
pledged as banking basis throughout the North
1t is safe to say to that if this panic be not aayed,
it will do as much mischief as the total failure OF
cotton crop.-N 7. Herald