, 1861-08-27
n. T. Times Correspondent

In. /. INnes Correspondent
LONDON, Saturday, Aug. 10, 1851.
The news Of the battle Of Bull Bun came
down on us like thunder-clap last Sunday.
Extras were hawked about the streets that
morning. containing telegram Of the blackest
desc1iption-much worse than the newspaper
accounts Of the next morning iustifed-and
the CONSERVATION among the loyalists WAS
very great. Subsequent advices somewhat re-
Heved our alarm, but only increased the sense
OF shame and modification; and Mr.. Russel's
letter in the Times so brilliant, so lifelke, and
yet SO humiliating, gave the last blow to our
wounded rational pride. Of course the very
ability OF Mr. Russell's description increased
the bitterness Of the punishment, and caused
great indignstion: Yet confess that I can
punish him for telling merely what he saw.
lie did not see. ED. If it was so-we ought
rather to Own up fairly, and to see that such
8 disgrace never occurs again.
OF course, the first thought after the rean-
zat;on Of the strength OF the blow, was what
particularly On England. That it could not
but be very bad, every one knew, aud We were
not slow to feel. The Times at once came out
il tone 50 needlessly insulting and 80 wan
tonly malignant, that no one could doubt. any
longer, even If there had been any doubt, on
which side its sympathies lie. One can bear
with Nj. Russell somewhat, for whatever hot
headed people may ssy, his letters have been
active agents in our Myor here, snd his infiu-
ence has been thrown generally on our side.
But it has uniformly been in spite OF the con-
trolling influence Of the journal itse1f, and it's ed
tiers, it is said, DO not hesitate to call him an
Abo]itionist Of the deepest dye This time
their bitterly, unfair attack WAS 80 fagrant as
to cal cut the protest of at Least two OF the
liberal papers, which commented in the WARM
est style on the language which the Times
Ueed.
1ts course is more likely ultimately to react
throwing off it's mask, It has partly destroyed
its own power for evil. The English Govern.
mtrt Goes not often act precipitately, and it
-iE rot likely to do go now OF recognition Of
the Insurgents there seems no present danger,
| but it is net 80 certain that this check will
! not encourage the cotton interest to make an
| effort to set aside our blockade. After all, the
! action Of England will depend on events. You
| cn the other side Of the water viii be able to
| predict it before We can, accoFdingsas the war
| Progresses we'll or otherwise. AS yet, howev-
| er, no one knows Of any intention Of this Gov.
| c1nment to interfere with the blockade. It is
certain, Or 90 near certain as anything can be,
| that the British fleets are ordered to respect
it faithfully and without caVil or 4ulbble, any
| statement to the CONTRARY notwithstanding,
t and if the time e1al come VIXEN this rule will
| be broken through, the British Government
| will DO it With its eyes open as to the conse
| quences, and Will hardly venture On the step
| without the assistance Of France
Another piece Of engineering against us is
| also evident in the columns Of the Times and
| elsewhere. It has been very plain here, fol
| Eome time past, that 8 Systematic effort was
I beipg made to beat down our credit in the
money market. The daily papsrs are begin
| nirg to TEEN with money articles, leaders
| our credit as good for nothIpg s, and thus tt
drive Us out Of the market, and 1eave us at the
mercy Of 3 few rich ard powerful Jews. Al
| usual, the Tunes is conspicuous in this attack
| aho, a4d Of late its money articles have cen
tanned systematic aud tra1sparently, inten
tion1 Misrepresentation and falsifcations o
our whole PAST financial history and present
conGition, Tie hand OF Mr. Yancey ind his
| friends Is also evident in this work. Ihei
energy has been stimulated by their lat.
success to fresh Efforts here, but in genera
the mo7e seems to be merely fnancia
cre, snd those are principally at ths bot
tom Of it who expect themselves to &c
the loan into their Own hands. The defeat a
Bull Run has, if anything, rather oyerion
! The thing, even from their point OF view
| For the moment our credit is nowhere, and i
would be use1ess to attempt to raise none,
| here ROW. u1stil or a11r.et have recovered thl
| ground which has been lost.
Ncr have We anything better to expect fto1
France, Accident and more cautious mode
Of action has placed France in a better posi-
ton before the Americans than England haE
occupied but have strong reaaoEs to betievs
| here. Hs1s: zt leas: We have parry, au3 an act
i've snd respectable one, who Comprehend on.
POSITION, and will do all they cea to sustsin us
It is not SO On the other eide Of the channel
Their sympathies-so far as they are reall.
enga2 ed il our attairs-lie On the side Of thci
relatives N Louisiana. In England the recoe
milton Of our insurgents would create strue
gle that would inevitably overthrow the Mi
ietry. In France the Emperor has but to 50
| the word, and the whole nation would acqul
| esce, az it always does. That he will say th1
| tCard rnfhinp to uaEa me dn11hf