The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1861-11-09

| until he could be relieved. When Lexington
| fell, Price had under his command e, 900 men,
and his force:vas receiving daily augmentations
from the disafected in the State He was per
| mittsd to gather much plumber, and to fall back
| toward Arkansas unmolested, until was at Tip
ton on the 18th of October, when the accounts
were that be was crossing the Usage. R
| THE COTTON RASIs. II ss
If the error of the North, not yet iadeedwhOl-
| ly recovered from, has been that the South could
not be in earnest in seeking q complete dilsolu.
| rion Of the Union and the establishment Of q
| separate Confederacy, the South has been not
less in the wrong in presuming that their sD,o,
nopoly of cotton was alone sufficient to giye them
both Independence and euprenAcH. From our
mistake. it is to be hoped, We shall soon alto
gether recover, while thJ South Cling to theirs
With that 1ersstency which shown they know
that they are completely lost without that reli-
snce The subject has recently come up among
them 10 . Southern Commercial Convention ut
Memphis, where measures we're advocated, but
not adopted, that should make them entirsly free
| from any commercial union with the North, and
! Q correspondents between the Produce Loan
Commissioners and Mr.. Nemminger, the Con-
federate Secretary Of the Treasury. The meas.
| ures advocated in the Convention were to place
twenty per cent. duty for ten years on all for.
eign goods imported on Northern account and
tax Of one dolla. ton on altvessels entering
Southern ports from the North; . direct income
tax Of twenty per cent. on all foreign bills drawn
| through Northern bankers or for Northern &C
count, and ten per cent on all bills or notes pay
able at the North; that negotiations for direct
| trade on the most favorable terms be entered
| into with all powers recognizing the independ-
ence of the Southern Confederacy; and that du
ties be remitted upon all eargoes that run the
| blockade, and that vessels bringing them may
be allowed to take away q cargo of cotton. The
basis of this proposed arrangement ia the sup
posed necessity abroad of American cotton, the
advantages of direct free trade as bribe for the
| recognition of the Confederacy-such trade to
be made the more valuable by the exclusion of
| Northern shipping and Northern middlemen. 1t
is noteworthy fact, however, that there was
common sense enough left in the Convention to
reject such propositions, on the representation of
General Duff Green that they would render I'M
possible any peace with the North, should they
be enforced {.4s.
In the correspondence between Mr. Memmin-.
ger and the Loan Commissioners, the inquiries
were, whether it was worth while to push sub
scrlptions TO the produce loan so long as the
blockade continued, and whether the Govern
ment would authorize promises of aid to be made
| to the planters as an inducement for subscrip-
tons The Secretary's reply is, substantially,
that the cssity for the loan is not diminished,
but rather increased, by the blockade, and that
the Government cannot, unless the Confederate
Congress shall otherwise order, purchase the
crop of cotton any other crop, and that if it
did, it must be by ruinous issue of paper mon.
ev The only measure of relief he has to suggest,
under these circumstances, is that more food
SHALL be raised, and that the planters shall seek
aid from the banks on the security OF their cot
| ton. 1t is not easy to see how that betters the
| matter, as the paper money, in that case, would
only come from non-specie banks instead of the
| Government, and cotton must still be relied up.
on as the foundation on which the Confederacy
is to rest only it is to be in the hands Of indi-
| viduals insts sd OF under Government control
| Tie fixed idea in all cases is cotton, and mani
testify bacause there is other to fall back upon.
Look at their present difficulties and their hopes
| for the future whichever way they will, they
have no fec6nrse but to come back continually
to the great staple as their sole reliance. They
either cannot or will not recognize the fact that
the very fouHdation on which the rebellion was
expected to rest, the rebellion itself has knocked
| from under them.
| 1t can no longer be doubted that season of
difficulty and distress portends in Europe, not
as it was thought six months ago, because Eu-
rope will be lin want of cotton, but because she
is deprived of one of her principal markets by
our indispositonto to import The trade of sim
gle city in France, Lyons, has fallen of one-third
because we havo ceased to buy her silks. What
is true Of that place is true of many other manu-
featuring towns and districts in greater or less
degree. Important as the export of the great
Southern staple unquestionably was, as one ele-
mcnt o: our large commerce, the stern logic of
f,cts is proving that while it's sale was almost
the sole reliance of the South, to the North it
was chiefly of value for the superfuities it cna-
bled US to buy, and not at all as production on
whose sale we were dependent to supply Is with
the necessaries of life or in which even our pros
perity was essentially involved. The North
would be rich and thrifty people, marching on
with the same great strides to power, if not an,
other pound of cotton should ever leave the
country. But to other nations the crop ia essen
tial, because, as an element Of trade in time Of
tranquility, they found here in exchange for it .
market for their manufactured goods, the crea-
tion of which is labor and bread to large pro-
portion, at least, Of their operatives We, on the
other hand, can do very we'll without those goods
Of foreign manufacture, while the countries that
] produce then, are compelled to buy of us those
necessaries of life, which we raise in abundance,
and the sale of which is certain to secure US
reasonable degree of prosperity. Thus events
and the laws OF trade are proving that, directly
and indirectly, the South is utterly dependent
on the North, and that the commercial Union is
even more indissoluble than the political bonds
that bind US together. In the universal disar-
rangement Of the commercial relations Of the
world, the probability is that six months hence,
4 when the account is balanced, it will be found
that the direct loss is as small if not smaller, for
the free states of the Union than for either Eng
| land or France, and mere trife compared to
the losses of the South. She cannot, it is Obvi-
GUS, carry OIL the war for any protracted period,
| unless her gaeat staple goes to market. But it
cannot go to market while the war continues,
and even if it could, its demand must be limited,
partly because the supply has been and must be
sought for from other quarters, and chiefly be-
cause our import trade is suspended by the me-
cessity of economy among ourselves. The re.
cognition OF the Southern Cpnfederacy by for
eisu powers, the forcing Of the blockade OF
Southern ports, the placing of the cotton crop
4 OF the slave states in Europe. and direct trade
between that continent and tile slaves states will
avail them nothing, and avail che European man.
ufacturers nothing, go long as We persist in hold.
icg the balance Of trade in osr favor by export
ing more than we import and curtailing the con,
sumption OF foreign goods in our own country
Tie law of demand and supply is more inexora
bic than tre ties and constitu ions, and domestic
rebels or foreign enemies, should we have any
will contend in vain against it.
Il sltr New IOfK Anuepenucnt.
We learn from gentleman who came up from
Pekin last evening, that much excitement exist
ed there in relation to the suspension of the
Platte Valles Bank, the rumor Of which We
mentioned y,aie.day, its truth beiag s.ree fully
confirmed. Il appears the principal depositcrs
were Germans. On learning Of the shutting "
Of the concern, they became furious, and threat
ened.to vent summary vengeance on the defnnct
establishment, and those having any connection
with it. So high, we are told, did the excite
ment run that the Mayor, yesterday, issued I
proclamation, urging loyal citizens to aid in th,
preservation Of the peace, and warning the peo
pie to respect the laval Peoria Transcript
/ RAfyLEsHAKR BifE.-A son Of NJ. Reajamil
Eastons, Of Alden, wn severely bitten in tht
hollow Of the foot by arattlesnake, short tim,
since, while gathering hazel nuts near his home
fron the effects Of which be came near losing BIZ
/ life. He turned more or less spotted all over
spit large quantities Of blood, had spasms .
! times when he would spit in his friends fsces