Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-02-06

WASHINGTON, January 2e, 1861.
To The Biaor Of the Daily State SemtiRel:
The only hope now left to preserve the Union.
and stay the desolating march of civil war is in
the suggestion Of Virginia for meeting of Com
missions from the border States the 18th of
February. Pennsylvania has responded affirma
lively to the proposition, and the Governors of
New York and Ohio have recommended the
Legislatures of their States to do likewise. What
will Indiana do? Surely, she will not reject this
olive-branch from Virginia, by whose generous
gift she is clothed to -day with the sovereignty of
State. 1t can not be that Indiana, owing her
very existence to one slave State, and her preser
walton from Indian warfare to the brawny arms
of another slave State, will be laggard now in the
glorious work of bringing once more together in
a happy Union, the disunited fragments of the
Republic This is no hour for vain formalities
and empty parades Old Virginia, the mother of
States and of statesmen, the mother of the great
and good Washington. who led our forefathers
safely through the Red Sea of the Revolutionary
war; of Jefferson, the author of the Declaration of
American independence, of Madison the Trainer of
the Constitution of the United States, inrites US
to the feast of patriotism, where, upon the altar
of our common country, we can offer up our per-
sonal preiudices and our party feelings for the
good of the Republic. What hidden guest will
stay away from such an entertainment
The speech of Lord PalmerstOn, the Premier
of England, at Southampton, in regard to Ameri-
en- affairs, is regarded here very significant
1t will be remembered that he treated the disso-
luton of the Union as settled fact, and took
ground against coercion. Since then his organ,
the London Chronicle, has come out in a long ar
i IL of II al
lowing their feelings against slavery to carry
them away in taking sides against the South. 1t
reminds them that last year 32S, 900 tons of cot
ton, valued at $40 000 900, were exported from
the South into Great Britain-that when man
ufactufed the value was $500, 900 000-that,
taking into account the shipping employed in its
transportation, the amount of capital employed in
the cotton business must amount to from 81 600
100000 to 81 500, 600, 000-that nearly 900
people are engaged in manufacturing American
cotton only and from three to four millions of
human beings depend upon it and its manufac
ture for their daily food-not negroes, not Ameri
cans, but English Scotch and Irish, now happy,
contented, and prosperous. In regard to the
failure of the American cotton supply, this Off
cial paper says:
"And we say it is impossible adequately to esti-
mate the awful calamity of such a failure of sup
ply. Why, fifty GladstOnes rolled into one Chan
cellor of the Exchequer would find it difficult to
make both ends meet. Talk of income tax, we
should want one of ten shillings in the pound,
and with nothing coming in to assist realized
property in paying it. This view of it is bad
enough; but that of the immense mass of misery,
suffering, frghtful death and social confusion it
would produce, is worse STILL Passions would
become inhamed, the maddened people would
strike right and left in their fury; imaginary
grievances would be elevated to the first rank of
realities; and whatever else might be saved from
the vortex it is quite certain that all the artificial
distinctions of society would vanish rs dream"
The blockade of the Southern ports will be
found on trial to be a very expensive operation.
| find that those Southern men, who are well
posted in the movements of the Southern people,
ETC., speak with the utmost confidence and rell-
ance on the English and French Governments
forcing any blockade of the Southern ports, on
the plea of protecting their commerce 1t is not
many years ago that England. impelled by her
commercial interests, waged war against China
for the privilege of supplying her with that health
destroying drug called opium. The whole civil
lied world cried out shame, but she did not de-
sist until she carried out her designs Would it
not be curious to see her now, impelled not only
by her commercial and manufacturing interests,
but also by the more powerful incentive of self
preservation, take sides with the South? YET
have not particle of doubt but such will be
her position Cotton is King Self-interest has
always been the polar-star which England has
followed without deviation. In this instance, not
only self-intereSt but self-preservation impe her
on the side of the South. for single years
failure of the cotton crop would throw England
into revolution. Pen.