Arkansas true Democrat., 1861-07-04

 enumerated to send cotton into free States. Thus Lowell and its kindred factories will
 be reduced to ruin, and the North to direct distress. If Manchester can get cotton and Lowell cannot, there are good times coming for the mill owners.
 1 The planters have agreed among them selves to hold one third of their cotton crop for their own purposes and for the cul- ture of their fields, and to sell the other to | their government. For each bale of cotton, as hear, bond will be issued on the fair average price of cotton in the market, and this bond must be taken at par as circu- lating medium within the limits of the slave States. This forced circulation will be secured by the act of the legislature Tine bonds will bear interest at eight per cent, and they will be issuej on the faith and se- curity of the proceeds of the duty of one eighth of q cent on every pound of cotton exported. All veseslS loading with cotton will be obliged to enter into bonds, or give security, that they will not carry their cargoes to northern ports, or let 1t reach northern markets, to their knowledge. The government will sell the cotton for cash to the foreign buyers, and will thus raise funds amply sufficient, for war purposes.
 l make these bare statements, and leave to political economists the discussion of the question which may and will arise out ot the.acts of the government of the Conted- crate States. The southerners argue that by breaking from their unnatural alliance with the North they save upwards of $47, 900, 900 or nearly fl0, ,0O0, 0OU sterling annually. The estimated value of the an nual cotton crop Is S2OO, 900, 900. On this the North formerly made least, It, ,O00, 600 by advances, interest and exchanges, which in all came to fully five per cent. on the whole of the crop. Again, the tarlitto raise revenues sufficient for the maintenance of the government of the Southern ConiedeIacy is far less than that which is required by the government of the United States. The Confederate States propose to have a tariff which will be about l31 per cent. on the imports, which will yield $25 900, ,000.- The northern tariff is 30 per cent; as the South took from the North S10, 900 GOO worth of manufactured goods and produce, they contributed, they assert, to the maintcn- ance of the North to the extent of the differ ence between the tariffs sufficient for the sup port of their government and that which is required for the support of the; federal govern ment. Now they will save the difference between 30 per cent. and 124 per cent, (lI! per cent. which amounts to $3I,- 900, 900, which added to the saving on com. missions, exchanges, advances, etc, makes | the good round sum have.put down higher up.
 The southelnrrs are firmly convinced | that they have "kept the North going" by the prices they have paid for the protected articles of their manufacture, and they hold | out to Sheffield, to Manchester, to Leeds, | to w Wolverhampton, to Dunlcy, to Paris, | to Lyons, to Bordeaux, to all the centers of | English manufacturing life, as of the French | taste ana luxury, the tempting baits of new and eager and hungry markets. If their l facts and statistics are accurate, there can | be no doubt of the justice of their deductions on many points; but they can scarcely be cor rect in assuming as'they will bring theUni ted States to destruction by cutting off from Lowell the 500 ,000 bales of cotton which she usually consumes.
 One great fact, however, is unquestion- able, the government has in its hands the wealth and the hearts of the people, They will give anything labor, life itself to carry out their theories
 "Sir," said an exGovernor of this State to me to-day, "sooner than submit to the North, we will all become subjects of Great Britain again." The same gentleman is  one of many who have given to the gov ernmen; large portion of their cotton crop every year as free will offering. In this instance his gift IS one of 300 bales of cot ton, or f30OO per annum, and the papers teem with accounts of similar patriotism and devotion.
 The ladies are making sandbags, cart ridges and uniforms, and, if possible, they are more fierce than the men. The time for mediation is past, if ever it were at hand or present at all, and it is scarcely possible now to prevent the processes of phlebotomization which are supposed to secure peace and repose.