The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-05
The Great Cotton Crisis Commenced Il,
Englund-Niil il End in Revolution!


From the Lonlou Times sept. lol
The reports + ON Lancashire applae is that the
hra muerngs Of The long expected Storm already heard.
NILS ,coring short NM, mana .cutag
pGgs ami oteT0vs RJtino rCt,le alum
70 discus ne prospects ttme hem Wbic once more dis
sssing this momeiItous question cannot omit to Oh
serve that since last notice Of the subject the contnu
ance Of tho American supply has become less probable
than ever II is now beyond question that the iJe-
ration Of the Slaves beln3ing 10 ionist roprie-
tors has Teen formally proclaimed by Tie te}erat cam.
The ,cur. It is difficult however, TO imagine thit
such rule Of action could confined a single State
Or that General Fremont will not, he attempts to
descend the Mississippi announce the resolution in
ether States which he may succeed in reaching His col
leagues in commando too, will be compelled probably to
follow the example, 50 that the result Wi. BE- ei,hcr
general emancipa ton Norhe1 arms shotLd acquire any
considerable dsctaddcy, agtcten and tDauh ern Jte
Soah should hold lis ocn II Is hardly possible that abo-
lition should be thus Loudly ami officially proclaimed
without some effect on the slave population, that IN
any event the industry Of the South b. seriously
jeopardlzed Every successive mail from America makes
II and difficult believe that either section Of
the Union remain before. The North will make
acquaintance with those burthens Of establishments AID
taxation which have long tried the governments Of the
Did World and the South, If retains with its indie
pendence all its territorial privileges will find that lis
monopoly Of the European market has been rudey dis
'urbed
With all these contingencies looming darby arcrnl aus
Is at least satisfaction to observe both that the
dtion Of the cotton manufacture favorable pre-
sent Efforts and that the operatives of Lancashire
looking at the subject like sensible The first
source IN such straits the present is evidently limit
the rate Of production and this told be done
not only without much disadvantage to the trade
with positive gain. It is said that production has re
:enty been carried too far and that the stocks OF
manufactured goods are everywhere in excess Of the
semand In . snis case !. Can certainly Do harm
to slacken ouF pace and allow our products to re-
cover their value. Short tmo, in fact, would be
rather desirable even If our supplies Of material
were in jeopardy at all In the meantime the opera
tiyes have recognized the eXgencies of the by
unanimous resolutions. They demur, indeed, to the al
logged necessity for the reduction of wages but az 20
meeting delegates at Manchester was freely admit oil
that the present scarcity Of cotton 'adotdet well
grounded reason for running the mills short tme and
thus diminishing the rate Of consumption. sch view
Of the speaks well for the good ana the saga
city OF the men. We must face the B,ye.diiig rim as
tpe Tie long ertcced dedr has yoIluesi
Us. II is serious matter, but not quite bad
feared We have two rcsourcesone IN economy II
sumption, the other in the discovery Of supplies
Both, trust VIII stand in good stead while
our way to such position as will exempt us from any
future return OF the liability.
The unnatural check that has been given our cotton
supply in consequence of political which have
rendered the bountiul harvest nugatory, has Je as in
tpsmnent danger Of great national cGtmy. This may
be ayerted by termination Of the American civil war
the Continent but the obstacle this arrangement the
determination of the Northern impose their rule
unwilling population. Regarding recent events IN
the calmest spirit, it is impossible avoid the conclu
that this determination prove DISASTROUS and
is question whether the federal government not
following mistaken contendiay any hree
against that political 0rganisdb9 the necessity Of
whteh Is Shoon by the extraordinary difficulty Of precenaS
is ACCOMPLISHMENT,