The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-10


The expanded condition of the banks rendering money
abundant and cheap stimulates speculation not alone in
stocks bu, also in breadstus 1t is seldom that parties
ship largely Of grain TO England speculation that they
come out Of the business in entirety solvent condition,
especially dependent upon bank discounts TO conduct
their operations II 10 believed that the Great Eastern
could load at whsryes she could at this time obtain
considerable, not full cargo Of produce for her return
voyage, but this Ia impractcable Neither can she be
loaded by lighters outside of Sandy Hook, except at an
expense she could not afford to bear.
The Impending Political Revolution I'm
the Southern states.
The reckless Southern radical disorganizers
Of the democratic party at Charleston have
achieved more than they bargained for in the
revolutionary dissolution Of their national Or
ganization. They have not only Frustrated the
Northern democracy but they have precipitated
political reaction in the South, which promises,
even during this extraordinary campaign, to
work out great political revolution in that
section
From the divisions among the democracy in
Virginia, apparently beyond remedy, from the
astonishing forward movement of the new con-
stitutional Union party in North Carolina. from
the crushing defeat of the Breckenridge demo-
cracy in the late Kentucky election from the
irreparable split in the democratic camp in
Missouri, it is now highly probable, if not mo-
rally certain, that Bell and Everett in Novem-
Der, will carry Delaware, Maryland, Virginia,
North Carolina. Tennessee, Kentucky and Mis-
souri,, string of conservative Southern States
representing sixty nine electoral votes, or ma
jorty of eighteen of the " hole electoral vote of
the South.
This will be equivalent to a great political
revolution in the South; for, unless " the cotton
States are prepared to stand aloof and act here
after as section to themselves, they must
submit to the counsels of their more
powerful sister slave States aforesaid,
whose great staples are not cotton, sugar
and rice, but wheat, Indian corn, hemp
and tobacco. That the democratic leaders of
"the cotton States" are prepared to make their
northern boundary the northern line of the
cotton zone is manifest from their proceed
ings at the Charleston Convention; but that the
great and important slave States north of said
cotton zone are more devoted.to the solid adj
vantages of the Union than to. the speculative
millennium of Southern confederacy, is equally
evident from their refusal to secede at Charles
ton.
Had Mr.. Yancey and his radical Southern
associates at Charleston remained in the Con-
vention, they could not only have prevented
the nomination of Mr. Douglas, but they could
have secured the nomination of ticket compe-
tent to reunite the broken fragments of the
party and to carry the election. But Mr.. Yam
cey and his radical associates were frightened
by the vote of New York for the Douglas plat
form, when the fact is that, until pushed into a
corner by the terrible events at Baltimore, the
New York delegation were ready for almost
anything whereby they might secure the demo-
cratic right arm of the South to help them to
another share of the federal spoils and plumber.
How stands the matter now? The Southern
States which refused to follow the seceders
out Of the Convention at Charleston refuse to
follow either of the two clashing factions of
the party in the work of this campaign. The
conservative majorities of the people Of those
States are turning over their SURFACES to this
new constitutional Union party. Thus while
the rival Breckenridge and Douglas factions aA
devouring each other in view Of the future
control Of the reunited democracy, it is very
probable that they newell may come together
again, but that they will disappear after this
election. like the fragments Of the old whig
party after the election Of 1852, in new orga-
nization of parties.
This new constitutional Union party has al.
ready achieved formidable Judgment in the
South--a lodgment which makes 1t powerful
party for the future whatever may be the re-
suit of the Presidential election. IA this i'm
portant fact will more and more impress itself
upon the independent conservative classes of
the North, financial, commercial and manufac-
turing, the more these late Southern elections
are investigated, there is still a prospect of
Northern conservative reaction which may spoil
the calculations Of the republican party. The
fact is established that the South is not, at all
hazards, unit against the North. but that she
is still ready to Join hands with the North upon
great NATIONAL and Union ideas. This should,
and perhaps n operate in our conservative
Northern commercial and manufacturing States
to bring about powerful reaction against the
republican candidate upon the broad national
basis of the Bell and Everett movement.
Last spring the republican candidate for
Governor in the republican State Of Rhode
Island was handsomely defeated. And where
fore. Because be was a radical ''irrepressible
conflict" and abolition Lincoln republican. The
conservative people of Rhode Island, of all par
stantial interests of their bread aud butter, in
connection with the South, found il their inter-
est to rebuke the anti-slavery radicalism pre-
sented to the people by the republicans in said
election. Why should not this hint be followed
mp by the Bell Everett party now, in all the