The sun. [volume] (New York [N.Y.]) 1833-1916, 1861-11-20

Tho Richmond l"rt'n', of Npl. It, dos
bot tlirk it very strange hat ihc bark, ia the
10y 81 states sl'uii Lc willing 10 invest their
n.!. ctrtd ir the national loan II under
.-." Ilo.igt the r,,ul, of this great cNhiH
"'u 'l iuoroill patriotism at lolluvs.
~. truth Is ihtt th. NuUhl,>r ,pdc vowed
90 .lul Ncu selves to thr t,rt tlai lhrir irtl.
... Z, To- .. 'ua.N affected 4, th, ,u. ui the
'u. '"s co. t.r = N., be- anil iu this ub,,.u,tc ip.
iH.l.liiuu have continued 30 mahr ltr,r iuuor.
tuuls r"m lur"pu, uHtwitl-tJu1irs their lo.s
". 'h t.Wugtur'Ih'D Tia. .vl, 20 p. ,',. -m-
| '. rtni 'ulN "u. 'uIU .uv tho. b. which thlsp
| importation, have hrol n'. g.. ami th.y have
| 'i. .uluro l,cu paid 10y bills utc,cirug. drvU
! Htuius southern cotton, which, uriunilv o..
! April and MAY. Tp 10 tins tim" tnrir rrtnr
with Europe has continued to rr.t upon the old
basis Of cotton AMI other southern cNpJrlali01s
the last trup of which had zone all forward nr-
fore the war began, and before the blockade was
declared.
The season is Just now br.,iuuiu, tn rrcur for
those southern ,larlc-, the crops just injured
and maturing 10 h' io ~ forward again.
Bot the southern pur,, are llorh1lnl and our
sfgll.s will not go forth. Not oven their great
naval expedition will lc able Do tempt th'm 70
the snaloltd or send thuW At 'ru 7. | land
lu,l,ol 70, well a. spllookcd aud viii no. move.
How then, will the Norh pay for the good,
they have imported 80 rely, and Tor the
quantities of arms, cannon and military sup-
plies viii h thrv have purcha ri In such liporll
profusion in Europe They can pay for lhum
only with Northern exports. consisting Of little
else than .,rnin. or with sp'gic. But IN urtlin-
arv seasons the North raises but small surplus
OF grain over and above is own consumption.
The craps Hcy hare r."rWiy h,Wr'tfd 1"c rc'y
SHIRT and considering tho number or llhorcrs
takon away f,om agriculture by the war, and
the increased demand for provisions nt home
occnsioncd by the waste of the armies, II -
very doubtful whether the exports Of grain from
the North will be- much more than nominal.
1t results that they will have to pay J0r their
iwporidii me- and d'scb0rge Heb old dh'' 10
Enrope. IN re,y hrge pnri, IN specie. They in
dul g two hopes from which relief would come
| to them from this necessity. They hoped that
| Europe would take large part of their war
| loaus aud that they would be- able 10 pay heir
indebtedness amold by drafts against Govern
| mcnt bonds. IN this calculation, however they
have totally failed. European capitalists have re.
| fused even at the solicitation Of the pos 'rtul
| Enlh.childs and Of Belmont, 10 invest in this
| paper.
| Of the grand naval armament sent ont against
| thr southern coast. I'M, vIs It sri'wa ~ me
| no,ihc,n norch0RG rather than oi the Co
| yerumcIt dd ~ SGd 10 hare bern mTi
| u condtiol Qf me ne9JiiHioR bcige'p M
| GorlH,aoi ditd N, BIais. In their hopc- of
pD'cuiug cotton hy the ad Of the fleet tl,y
| .Ic gon, TO hc compl ,cly disappointed. We
| Golh, 4 thousand bales viii be- captured
10 rl,ub4rsc the eNprusc Of millions upon the
| armada.
| lLc English public see. thi. result moro clear
| !. ,Ml tho Yankee, and The Times declare
| .h. th,r only sUhjuct ol remittance will hc
| l,.iu. Wien that begins tu set in u truug
| pu,ut, / u 'oicwaId-, then il thinks th' cloc,
| nll lc lt't more di,a-truu-ly Ly he commercial
| .umuiy rtlc Noul than Bull Run.
| Ilou,st Inflated paper system in the world
| F. shat ,l tn, North. The cllluN of sp"r,c will
| "a with tremendous effect upon the -,rrcm.-
! Not n great bladder will be prohcd, but 4 trr-
| mcndou, huloOn aul not only pcnt up
air will escape, hut the iuulr,t glssr-
| that ever assailcd the nO,trls Of tho mortal
world We shall then SEQ whether the finances
| Of n brOi,H JuatIHT Government can hc upheld
Lv a set Of broken and most rotten banks. Not
ONLY must the commercial community Of the
Nurth experience u mightior disaster than that
Of Bu'l Run, hVt the Goyonmcn, Itself viii
feel another earthquake under It's feet,
Even England could not purchase our cotton,
except UPON the condition Of paying for ! IN
mgr,lAn1i-c; for even her finances wuul be
ovcrtaNcd il required 10 furnish two hlnirc
millions Of specie for q ,in-lc crop If a -inla,
country. Il is 10 hc seen who'hor the Nurtl
can starl paving for it, imp0rtatioHs with spe
cic. The Yankees are full Of Ingenuity an
| tricks, hut here is case, we think, that vii
L4llc their subtlcst art- and kccnu,t knlyory