The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-02

BACK 80 far that 1t Is now doubtful wn6ther Hcy
will attempt further advance.
The Kentucky Legislature will convene to-day
in Frankfort, with seventy-six Unionists in the
House of Representatives and twenty-four Sc
ceshers. The Senate will stand twenty-seven
Union and eleven secessionists, ten Of whom are
hold overs. desperate attempt will no doubt be
made to overawe the Legislature by the "peace"
leaders, under the marshalship of Breckenridge
| and Magoffn, and fears are entertained among
some Of the loyal men that the effort will prove
successful. 1t has been reported that the Legis
lature would impeach Governor Magofhn, and in
view of this rumor barbecue is to be held on the
! 9Th at place about twelve miles from the cap-
| tai, which is to be attended by an army OF
| rebel soldiers, who style themselves the State
Guard. ten or twelve thousand strong, fully armed,
and all under the authority Of the Governor.
The Richmond papers say that city is now 80
well protected by Notifications, masked batteries
and mines, that If hostile army should attempt to
take it, not one in a hundred would survive.
The cotton panic continued Saturday with less
severity The chief contest seemed to be between
manufacturing government contractors and spectators
largo portion OF the stock held speculation tho
owners Of which unwilling sellers, except at
above the current advanced prices The transac-
lions embraced about 500 bales closing Me basis Of
20Hc. 2lo for mddlng uplands This material advance
In the raw article has, it Is said caused quite number
Of government contractors TO throw up their contracts
and induced others feel quito .shy about stepping
ward to fill their places until they witness
stability in prices Tho throwing up contracts, 1t Is be-
lisved, will add largely to the expenditures Of gov
eminent for cotton cloths duck and cordage,
cessary for both land and naval service
Owing to the nonarrval Of the at the usual time
yesterday receipts of -four moderate and in good
demand, to fill orders and complete cargoes Wheat
irregular for prime qualities, and rather frmer fer
spring and shipping grades. Sales were chiefly for
export Corn was firm and in good domestic and export
demand Pork easier but inactive with sales in part
for government stores at 4 SIX aSi5 for mess and at
- SIX $40 for prime. Sugars nrm with sales Of
1000 bags Rio and small lots aguayra steady prices
nreights active. Corn and wheat engaged
for Liverpool at 1Od at 11d in bulk and bags ls 900
bushels wheat engaged for Havre, by American
| sells, at 23c 24c. per busiel.
| Opening OF the.Active Campaign Against
the South-The North Putting Forth its
Strength.
The North is at length entering seriously into
the work Of the campaign. The glorious new.
which we published yesterday of the capture Of
the two rebel forts at Hatteras Inlet, with
large amount of prisoners guns and military
stores; the energetic proclamation of General
Fremont, declaring the State of Missouri under
martial law and giving freedom to the slaves Of
all slaveowners found in arms against the
government; and the highly efficient state of
organization to which the army of the Potomac
has been already brought under the sleepless
| eye and stern discipline of General Mcclellan,
thereby rendering it not only equal to the de-
| fence of the capital, but ready for an advance
at any moment into Virginia-all 60 to show
that the government, the military authorities
and the people of the loyal States are duly i'm
pressed with the Importance Of the task before
them,' rand are undertaking it with the proper
spirit and energy. Henceforth, if we cannot
always count on victory, we can at least reckon
on the avoidance of such humiliations as the
affairs of Bull run and Big Bethel brought on
our arms Thus prepared to retrieve the errors
committed in the early part of the campaign,
we may be permitted, in presence of the morti-
fcation that they have occasioned us, to claim
credit for the extraordinary efforts which have
! been since made to repair them.
In April the thunders of the cannon of Fort
Sumter awoke the people Of the North from the
fatal lethargy into which they had fallen, and
| the spell of inactiOn was broken. The boa
constructor Of conspiracy which had nearly
crushed out the life of the republic met its
Hercules at last. Avigorous and determined
confidence arose in the public mind. Eighty
thousand soldiers sprung up, as by magic, and
marched to Washington. The admirable stra-
tcgy Of General Scott saved Maryland to the
Union. All felt that the capital and the nation
were safe, and people took long breath after
this first gigantic effort, while the world ap
paudcd the invincible, spontaneous energy of
free people.
After this came the errors of Big Bethel
and Vienna. like small clouds which obscure
but cannot Obliterate the sun; and then the
great blunder Of Manassas, like foul blow
dealt by friendly hand, made the whole coun-
try stagger, and for moment we seemed to
have lost heart. Lying correspondents Of
foreign journals gloated over our misfortune as
though it had been final and irredeemable;
foreign ministers declared that the South must
now be recognized as having belligerent rights;
foreign presses and jealous foreign aristocra-
sy exulted in the downfall of the model demo-
cracy, and despotsn, quaking on its bloody
throne, rejoiced at having obtained new lease
If life. 1t is in poverty and misfortune that one
| discovers who are his real and who arc only
pretended friends. The battle of Manassa,
stripped the mask from the faces of many of our
| disguised enemies, and the North found con-
| tumely and abuse where it expected friendly aid
and sympathy.
But foreign correspondents, ministers, jour
nails and aristocrats little understood the peo-
pie they reviled or the courage which
they thought broken and dispirited. With
the extreme necessity came renewed
strength, and the invincible pluck of
the American people showed itself equal
to the occasion There came an uprising of
the North more earnest, more decided, more de-
termined, more emphatic than that which saved
the capital in April last. Congress and the