Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-10-26
Reading Matter on Every Page,
The Iiesstans Aiaraned for their own Sea-


ports.
The circular addressed by Secretary SEWARD, the
premier Of the Despot, LIN coin, to the Governors
of the Northern States, which we published yester
day morning, is having its legitimate effect upon
the commercial community in the North, producing
widespread panic among merchants and BANKERS,
as will be seen from our dispatches.
That circular, although couehed in the most eau
tioCs language Of diplomacy and attempting to
bring about a st&:e Of preparation against an ex
pected attack upon the coast, without exciting aus
PiciOn or app ehension, was too omincus of the
real fears of the Government, not to produce the
most serious depression ami fear, in The minds of
capitalists and trading men.
Capitalists are prover5iay more sagacious in ar :
ticipating and mere sensitive in feeling any cons
mon disaster or calamity than any position of the
community. Capital invested in stocks or in whole
sale trade begins frs: to feel such depression
Ca the BouTse in Paris or the Exchange in London
stocks are often deprecated by the remote contin-
gency Of coming evil. Bat such depreciation is
scarcely noticeable, unless it proceeds from some
well unders TODD cause, or from the discovery of
movement on the part oCthe Government, which is
likely to involve it il war
The circular Of Mr.. Seward, however artfully
phrGz,d, clearly implies the immineEce of an az
tack from some greet Naval Power. The PROPOSE.
tons contained in j: 70 the State Governments are of
an extraordinary character and denote great haste
on She part of the Government. If, as he pretends.
the Danger of TIE amieable relations of the United
States with European Powers being disturbed, were
less now. from the intIigues of the Confederate
Government than they have ever boan since the
to fortfy the lake aad seacoast harbors that he is
compelled to ask the aid of the States. instead of
visiting until the Congress shall meet in December!
Why should he call on the States to expend hun
dBeds Of millions Of dollars IN Qualifications when
tina danger of assault from the daily growing
leEs? If it were only prudent precaution that be
is adopting TO avoid possible peril. delay of
little more than month, until the first of Deeem
ber when his measHres could be carried out by the
proper authority and without SO extraordinary and
sgi'stiqg plan as that Of appealing to the States,
would certainly have been submitted to By the
wary Minister.
We are forced to TIE conclusion. then, that this
alarming alternative has been resorted TO- in view
Of al imminent peril, and was intended to arouse
the whole country and prepare them for an emer
gency known TO the Government. That emergency
we suspect to be c war with Elg3nI. which ia the
gre test naval Power on the Globe and which can
gs,ail the Ulitad Sasas on the Atlantic the 3rth-
err Lakes and the Pic.f.c, at the same time, with
its powerful fleets, now mogiag along the coas: and
with its strong LAID armament in Canada, which
has increased to 3 Formidable force.
Our Richmond correspondent yesserIly, stated
that dispatches tOPresi,u: D1yshsd been intercept
L r. Il.