The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-09-17

meantime trade i'm provee; orr millions pros
per there Is peace on the continent; our
commerce is unrestrained, except as re9a rts
the ports of the Confederate States. What
will be the consequence OF all thisf There
Will BE- a large demand upon manufacturers
for their stuffs, and upon merchants for their
cottons, which must then shoot UP TO a price
which, il named now, would only raise n
laugh. Let us bring strong and conclusive
argument to settle the matter once and forever.
suppose unprecedented high prices were
given for manufactured stuffs, and the
STOCK OF cotton so low that nothing
but working short time could secure the
raw material for month at the most, why
should spinners hesitate to convert IL into
yarns' When the present stock of American
is exhausted, their value will be immensely
augmented. Then surely there is no earthly
reason why spinners should not spin 80 long
as they can buy cotton. 1t will at once occnr
TO every spinner who has q stock of cotton
that it Is the safest and most prof table conrse
to turn 1t into yarn with the utmost dispatch,
because, should the American war be sud
denly terminated, his cotton would show Il
loss, but his yarns would Immediately in
crease in value on the re-opening of the Ameri-
can trade.
sumption of that staple upon the supply Of
which four millions of our poorer classes de-
pend upon for their daily bread? There is
nothing for it but the establishment of a
higher scale of prices. Consumption can onlv
thus be stayed.
RUN FIGHT
From the London Times, August 29.l
Yesterday Lord Palmerston was formally
installed In his office of Lord Warden of the
Cirque Ports, with much pomp and circum-
stance, and amid every demonstration of
popular enthusiasm. The banquet was held
in the Maison Dieu, which has been recently
restored and decorated. The building, which
was formerly religious house of the or er
of the Templars, is now used as Il town hall.
is N " tn
| local tradition, the recreant King John de-
livered his Kingdom TO the Papal Legate, Pan
duff, and undertook to do homage for it
vassal of the Pope, paying 900 marks as an
nual tribute.
The Chairman rose to in troduce the toast of
| the evening. Having referred to the ancient
| glories of the ports, and eulogized the charac-
| ter and merits of their distinguished guest
| his Worship gave the health of Eiscount Pal
| merston, their new Lord Warden.
| The toast was received with vehement and
prolonged cheering.
| Lord Palmerston then rose and said Mr.
| Mayor and gentlemen, 1t is really not one of
| those commonplace expressions which are
| usual on these occasions, If l say that no
words can adequately express the smallest
| portion of the gratitude which feel for the
| kind, the warm, the cordial reception which
] l have met with, not only In this hall, but in
| every part of the precincts of Dover through
| which have passed during the proceedings
| of to-day. Colonel McAIurdo truly obsery ed
| that recent events IN America should teach
| us a valuable lesson. The example of what
| has happened across the Atlantic shows
that you may collect thousands of men
| together and put uniforms on their
| backs and muskets In their hands, but
you do not thereby convert them into
/ sotdiors or into ar77y-thear, hear)-here must
| be discipline. 1t Is not enough that there
| should be individual bravery. why, our
| cousins in America, iudictdHal men, are as
broce as any that tread he eayth. They of the
| same stock as ourselves, they ara descended
| q nv M
| same spirit, and prepared TO encounter equal
| dangers But when thousands of men as
| personally courageous as any race in exist
| ence get together, each man wanting that
| confidence III his cCmrade which discipline
and training can alone supply, they exhibited 10
| the tc0rtd tadt unfortunate repidHy of n0rcReHt
uhieh took place NJ Ban Run. tLaughter.) That
l say. is 10 disparagement TO the valor of the
Americans, but affords, l repeat, a lesson
which we ourselves may usefully ponder and
remember-yiz: that discipline and organiza-
ton are indiSpenSa bic to make any army ett!-
Gent in the field.
THE ABOLITION ASPECT OF THE WAR.
ffroIn the London News, Aug 301
The Confederates, in fact, settled the fate OF
slavery when they drilled and armed their
two negro regiments; and the Government
merely corroborates that settlement by an
thorizing the formation of similar force on
the other side. The difference is that the
Southern leaders do not know what thew ara
doing, while the Government Is perfectly
aware of the import of what 1t ordains and
thoroughly conscious that il cannot recede
from its position. The position is, however
manitestly and ayowedly provisional one;
and the necessary conclusion is that the Fed
eral causei hsnceforth identified with the
abolition of slavery.
BAD PROSPECT FOR THE FEDERAL LOAN IN Eng
LAND.
from the London Herald, DERBY organ)
August 81
wv III,
lished with n view to destroy the trade of the
Hostile States, and this prohibition of ingress
and egreSS necessarily put an end to all the
fiscal receipts which had been estimated in
The budget. Tho very commerce which was
to have been the fruitful source of taxation
was sought to be annihilated and the com
,nodities raised for the express purpose of ex-
port, by means OF which corresponding i'm
ports would have been paid for were CON
delnned TO remain in the Warehouses of the
South Thus the authorities at Washington
destroyed the very revenue on which they
had calculated. MIR. President Lincoln has
now taken step even more decided, having
issued a proclamation suspending call com
mercial in tercourse with the South so that
by land as well as by set eleven States are
completely severed from the remaining TWEEN
ty-three; and to this sweeping enactment il
is evident that the Federal tax collectors can
not form an exception. The mails of the
South are stopped. and the smuggler alone
remains to carry ON any preearious intercom-
| munica ton. 1t is plain that the budget Of
| the last session of the Congress is mere waste
| paper in the seeded States, and the North is
now thrown on its own unaided resources =
The banks of New York and Boston have sub
| -cribed for the present loan, and lust now
| they are well stocked with bullion bnt there
| is no certainty that what departs will return
indeed, it only can return through the chan
nels of trade, aud these must be chotred by
wap. The exports Of the South are stopped,
and they who cannot sell have not the means
| of buying, while the new Morrill, tariff must
Thara
| then, no source from which the stream of
bullion Will continue to flow In TO the banks
| New loans, then, must be sought for in Eu-
| rope but can they be raised in that quarter?
| Granting that seven per cent. is Il tempting
bait it is counterac ted by the charac ter of the
! borrowers, for though the federation has ever
| kept good faith with its creditors, many of the
|. separate states have rePudiated, and Phila :
! delphla bonds nave become bye-Word for
| dishonesty If we do not insist the i'm.
| morality of loans knowingly granted TO pro.
| long civil war, 1t is because experience has
| taught US that in the acquisition of wealth
| virtue imposes no restraint which seitshness
| is willing TO obey, and 1t would be vain for
| us to urge that every five pound note EN-
| barked in this quarrel might multiply the
sad list of widows and orphans and of young
men manned for life. All that we have at
| tempted is TO warn the cupid ty to which the
| tempting lure OF seven per cent. is now being
| offered, that the security is decidedly bad
| and though the loss of principal and interest
would be the BETTING punishment of the
| crime we hope the penalty may be avoided
| by rejecting the proposal.
| MISCELLANEOUS
Prince Napoleon was expected at Martinique
and Guadaloupe, at the date Of the last advices
in Paris.
| A Partisan correspondent writes to the semi
| official Spanish Correspoadcncia
Lord Palnerston has decided to 60 operate
with the Italian Government within the linn