The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-25
THE COTTON QUESTION.
The Great Naval Expedition OF the Union
Who Holds Back Cotton from the
Commercial WOrld-CottOn from in.
fNaica. Re.- Re-.

matca, De-, &c., Sc.
from the London Times, Nov Ill
For the moment the army before Washington occupies
less Of public attention in America than the naval exped
ton which is to make descent the Southern coast
On the 18th OF October everything ready the troops
board the large feet Of Transports General Sher
man had embarked in the Wabash frgae had issued
his directions respecting the landing Of the men.
powerful naval force comprising twenty flour gunboats
each carrying four guns, is to protect the troops
in their landing, and unless the published orders
intended to deceive The enemy, il may be
possible for those acquainted with the coast to form
as to the point which this powerful force is threat
enng The surf boats ana Others are capable Of landing
at once between three ana four thousand mon. The
largest hod'one hundredmen the smaller seven
ty each The landing Is TO be in three Ines the boats not
only Of each company but Of each regiment and brigade
will land abreast, and as far possible in order Of
battle. The number Of troops commanded by General
Sherman s not as great as first reported but IL is still
sufficiently formidable. There about 20 soldiers
principally New Englanders and New Workers and the
fleet VIII furnish naval brigade, should the landing be
successfully effected.
1t is Of no TO speculate on matters which will
be certanties in few days; but from the general
feeling Of the Northern people ard the past policy
of their government Ia pretty certain that this exped
ton is intended for the capture Of some Southern city
harbor Which ,oH nosonty 9re good military poson
but also enable the government 10 proclaim the raising Of the
blockade at Point from iChich cotton be brought
The Cabinet of Washington s of course desirous that
the charge of deprvng Europe and the world of
of the great necessaries Of life should be valid
The immense interest Of England and scarcely less de-
gree q France, in Tie export Of cotton from the So cannot
bat prejudice the commercial classes Of both against
gpere Which a7 ears to be The obstacle 10 the sGorlds
to European opinion the war; they must feel that
with the growing endorsements Of manufacturers
and the distress of our working classes there be
increase Of bitterness against themselves which may
produce inconvenience and even danger II is desirable
therefore, to show that not they but their opponents
the real wlthholdcrs OF tho cotton supply IF ey can
seize port and open eUeB nont,duy 10 The trade, then
thereby take dody the grounds Of complaint aosich Europe
hos dgdast Them. They show that it is not thew who
prevent cotton coming out but that it is the souherners
who keep it In That they will get cotton in any large
quantity no one can believe for the Confederate the
lDlen of In
bale, and probably every negro, shall BIO removed
from tho neighbSrhood Of the enemy. But still
they will be able to say to us Or to the
the cotton you get you full liberty 10 trade
with all whom you can find to trade with you.n The
military objects Of the expedition do not quite
clear Seldom IN the history OF war has much good been
done by the occupation Of points enemy's coast
and on such an Immense territory little impression can
be made by expeditionary force advancing from the
and having base Of operations except vessels
and some haltruined town. The hope OF weakening the
Southern army the Potomac by diversion has no
doubt had much to do with the despatch Of the exped
ton The necessity Of being ready at more points than
will bear hard the Confederate government and
though the South has excellent system Of railways
and cm bring men to any point Of the coast in
very few days, yet considerable force, and, what
stu moro important large quantity Of the materials
Of war; must be kept in each Of the great Southern
cities i'll order to prevent surprise aud the loss many
millions worth o. property AS to the creation If Union
it may be, that is staH on which the government can
hardly rely for, even granting that there OF
the people willing TO compromise and restore the Unoa
it is hardly likely that any adhesion to the federal cause
viii be possb. in the presence of Confederate army
and of people exasperated by invasion.
Time mist show what the federal calculations are and
how far they justified scarcely less important part
Of the relates the financial state OF the Snth
en concdoracy Here the real which the
North has its opponents The Confcderatc poor
very poor; and though from time immcmoral pocr ma
tions have fought successfully against rich ones vet it
has only been when they have been animated by intense
devotion to their The Souherner endurance viii
be hardly tried than his courage. The advance OF
the Northern armies through tracts Of country without
roads food is danger which the Conicderates mly
afford disregard but tho pinch Of poverty will be keen
aud they must learn TO bear it, The circular Of Mr. Mem
mnger on the produce loan is well worthy the tenion
Of these who would fairly estimate the condition Of he
South The Secretary Of the Confederate Treasury is
asked firstly, whether during the continuance OF the
blockade any efforts should BIO made procure
further subscriptions and he returns d yerv clear
answer 10 tho effect that subscriptions are as
valuable TO the government during the block
ado az after it, the blockade simply sis-
pending the completion of the transaction, which will
take place when tho cotton can be sold Tho second
point which the Confederate public wished for utor
nation was whether the government would authorizes
promises to be held out Of aid to the planters as an in
ducement to further subscriptions" On this point Mr.
Memmnger prononnces clearly also, though seems not
quite satisfactorily TO the planters These gentlemen de-
government should make them dvances OF Treas
ury notes the only currency Of the South on Sc
curty Of their cotton Mr. Memminger, reply, gives
his opinion that this would be as gross economical
error as the organization of labor All the notes
which the Treasury puts forth be for
is not desirable that the value represented by
these should be greater than is absolutely necessary
such excess would inevitably tend to deprecae
their value. The government would gain nothing by
making these advances to the planters, and therefore il
they money the security Of the cotton they are
storing up, they must apply the banks in the usual
way To us the Confederate Secrearys arguments seem
sensible enough bM they naturally ercie much disconttn
among those ChO hare immense Of cotton and hdy9lv
dollar Some of the Southern papers accordingly give
vent 10 very loud complaints but it must be plain to
every that such state ofhngs the necessary con.
sequence Of the and that If the Southernes wish to
establish their independence they must 20 through |
this and many more heavy trials Cotton is. in fact
now thoir only currency. Notes representing so
much Of this staple must be used the common ransac
tons Of life, and the banks may well them as the
government In few weeks It will, no doubt,
this and matters may be made tolerabe to the
wealthy, but temporarily destitute, cotton holder But
financial distress must continue to weigh TIE South as LONG
remais shat oft from the Uord her o,lv COZ, old
tion must u The cost at ohtch he enemy is ede
roring TO ruin her.
COTTON FROM TIE WEST INDIES.
AT meeting of the Manchester Chamber Of Commerce
samples OF cotton, recently received from jamaica
exhibited and hopeful statements made as to
the success OF the Jamaica Cotton Company
OBITU ARY.