The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-07-30

1t is now evident that the war against the South
IS not to be "short and decisive" one The
rapid advance of the Federal army on Richmond
the instant discontinue of the secessonist leaders
the prompt uprising Of the great "Union major
'ity'' in Virginia-and the speedy and enthusi-
astic return of the State to its place in this Con-
1ederacy-all these anticipated results of the coer
Give policy of the Administration are vet very far
short of their fnlGlnont. 1t !, manifest now that
the Government must enroll, and equip. and dsc-
pine another grand army-and that il ,nust firbt
ITS way, step by step, to the Capital of Virginia
The organization OF a force which can be sent
with any prospect of success, to storm the en-
tenchments at Manassas Junction, will task all
the energies Of the Government and the patience
OF the people. But when that battle is won tho
invading army will be but twenty miles nearer
the desired point, and another, and still another
lortlhed position will bar its progress onward be-
fore 1t catches sight of the frowning batteries
winch surround Richmond. The South has proved
that 1t IS in earnest, and that it is willing and
prepared to defend itself to the last extremity and
no man who does not wilfully close his ewes to
unpleasant facts, can fail to see that many months
must elapse, under the most favorable circum-
stances, before Mr. LINCOLN can re-cstablish his an
'nority over Virginia. and that the outlay of blood
ana treasure on the part of the North must be enor
nous before even this end is attained. It is more
over apparent that the occupation of Richmond
would not be decisive of the contest. The delusion
In regard to the extent Of the Union feeling in the
South has been well nigh dssipated. No such sent-
meht has manifested itself, in the districts which
nave been already occupied by the Federal troops,
ana IL Is safe to infer not exist in the in
terror OF the seeded States. The Southern neople
have said that they are determined to maintain
their independence, and the vicor and unanimity
OF their defensive proceedings, thus far, afford very
conclusive evidence Of their purpose and ability
TO offer desperate and proracted resistance to anv
force which can be sent against them. If they are
defeated In one great battle it will but rouse them
to renewed exertion. If they meet with half a
dozen serious reverses in Virginia, they will be
ready TO encounter half dozen more in North
Carolina If Richmond is taken by General
ScoTT the only result Of his success will he to
transfer the theatre of the war a little r,r,bor
Southwark. No hostile measures which Mr. LIN
coin can adopt by land or sea, will make this CAM
paign either Short or decisive" The people of
the North had therefore better decide at once how
much they are willing to pay-how many lives they
are ready to gve-and how long they can afford to
wait for the subjugaton Of the South. But in
considering these questions, it must also be borne
In mind that whatever the North may give in the
way OF men and money, is not given for GER
tain, but fol contingent object The stake for
which it is risking SO much, may be lost as we'll
10 liz ,ft1~. N
uuing Inc South, that the North is to expend five
or seven hundred million dollars. In such an
adventure, want Of success involves something
more than failure to attain the cad aimed at. for
IN Inc hazardous game of war, the penalty which
Tue loser pays is temporary, if not irrensrable
RUN. Surely the North had better reflect sc,in
and more seriously, before it pursues further Tho
dangerous enterprise on which it has embarked