The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-03-22
I From the Philadelphia Ledger.


Had propositions been made any time before the
Attn of March, little more than two weeks ago, to
surrender Fort Sumter to the State in which it is
located, and to acknowledge the independence of
the Southern Confederacy, it would have been met
from all the free States with the oudest and most
emphatic opposition Now, already, the former of
these propositions is reported accomplished. Major
Anderson is understood to be at the mercy of the
State forces surrounding him, and the Government.
confessedly unable to afford him relief, has ordered
him to evacuate the Fort. What is much sur
prispg as that this thing should have been effected
is, that Northern sentiment quietly acquiesces in
it. Commissioners from the Confederacy are now
at W ashington whose business is to arrange for
peaceable dissolution of the Union and the conduct
of the Administration avOrs the belief that this too
will be conceded, and for the same reason, that the
Government is unable to sustain antagonistic rea-
tons. This, too, the Northern sentiment are grad
ually yielding to as the thing most proper to be
done, all circumstances considered. So, we pro-
ceed, step by step, in separation, all idea of
cion. recently so rampant, having been abandoned
the desire most prominent being to secure peace
and retain the border slave States. This is now
about the only policy which confidence in the
future is based, and which present prices of
stocks and the expectation for revival of business
are based But what are the prospects of the fu-
ture peace of the two Republics with so many ques-
tions of pecuniary character to dispute over and
so many rival interests daily, and all the time
in collision? The possession of the border
States will steadily be bone of contention. The
South will draw them if possible, peaceably if
they can, forcibly if they must; and if no other
means offers whereby to accomplish it, will pro-
woke 1t by demands that at last cannot be conceded
by the General Government. The North will yield
much to narrow the secession to the cotton States,
but out OF the disputed rights to the Territories
which the South claims to have been acquired as
much by "the blood and treasure" of the Southern
States as of that of any other portion of the
try, the value and equitable division of the Gov
ernment property, the navigation of the Missssippi
&C., &C., there will be little difficulty, with will
to do it and so much to gain by it, in PRODUCING a
collision. 1t is most earnestly desired that this
collision may never come, but, as it is here seen.
that there reason to fear it may, it were well to
inquire the effect ON the country, on business and
on all prices. Without war, industry may in time,
but it will require a long time, inspire confidence
in producing for the future. This begets the en-
terprise on which prices advance. Without war
there is much to check active business and pros
perity. With it, enough to greatly depress bust
ness and all prices almost out of sight. We are
daily asked. "What about stocks?" "Is this the
time to buy or to sell?" "Will they 20 up OF
DOWN." These are all questions depending Sc
much on points involved in the future, and the DO
sition OF affairs are so wholly novel, that any one is
as capable of answering as another. What has
transpired here within the last three or four
months is so far beyond what the most radical ex.
pected as to render ridiculous any attempt to reason
to conclusion.