New-York daily tribune., 1861-08-23

Here it is the last prop to Slavery; there " WIN
be the sustaining prop TO Freedom.
From these utterances Of British Jonrhahfnl II %
clear that this country has ceased TO be oepencea
or, and that oil eyes arc turned to India But tue
looking in that direction is no new thing. The
present cloud was Observed in the horizon When II
was mere fpeck and England has long been en-
deayorng to tim boat and make oil snug before the
wrath Il was nursing should lie ready TO burst upon
her. Twenty years ago she began to extend eneour-
agcmeut to tho growth of wool in India. In
1910 ehs drew from that country 2,iil, $40 ID, in
1856 the supply had swelltd 20 52,000,OC0 II, and
now it reaches G0,000, coo 70 annually. The mu-
tiny alone prevented It's being even greater. Here
was hope for cotton. On the realization of this
hope tie nation rests with entire confidence.
To this end have been applied all the dogeed
PERSEVERANCE, the amazing enterprise, skill aud
capital, for which it is so remarkable. No fail
uEe in. one place, no loss in others, has checked
the progress OF this revolutionary effort. ILese
failures aud losses have been industriOuly circn-
lated through cur journals, but the'cOnbnued pro-
Gress OF the effort is convincing evidence that
they were not decisive against it, England, Ike
ourselves never gives up at the fret rebuff.
Three times her columns charged at Bunker
En-, three times at tho AstonpDk, three timeS
at Lundy's Lane. How comprehensive this ei-
fort has been, what progress it has secured, and
how speedily it will cuiminate in success, we
cannot stop TO examine now.
But tie striking spectacle is exhibited OF one
nQt lsiu at knowing
how 10 get r,d OF it. The world has never be-
held its parallel 1t ia moving tableau whose
interest is heightened as tie changes are multi
plied-a commercial kaleidoscope, which at
every turn presents an unexpected comohauon'
With tie coltvu-growers the difficulty becomes
more complex, and the pressure more alarming
as the season advances. They are put 70 worse
shifts 10 get rid of tleir cotton bales than Eng
land IS 70 obtain them. The elut is quito rs
rrinaus TO them as it was sixteen years ago.
As their cupidity occasoned that, so new and
greater folly has precipitated this. Ii they were
kept poor by getting but 4 low price then, what
paupers they must become DOW, when getting
nothing. In this strait the Rebel Government
makes the magnificent offer TO take the whole
crop ard pay for it in bonds, said bonds TO be
PAYABLE at some indefinite period between this
and doomsday. II the offer is declined, the crop
will be taken nevertheless, peaceaby if it can,
forcibly il it must. We have seen country eGi-
tors advertising to take potatoes and pos,um
skins in payment for Subscriptions. Here Is
Government which first advertised for cotton
bat which has since conc down TO hog aud
hominy-rCtlling comes amigs 10 It but truth and
decency. 1t is true that taking the cotton crop
in this way viii saddle it with debt Of $780,,
C0,CO0, but no Southron was ever yet afraid Of
debt, especially since reputation was patented.
Tie bonds viii be about as good ba,ls for free
banking es any Of those already 80 benefcialy
used in that way by the West. The idea if,
that the Rebel Government owning the entire
crop, viii possess a lever powerful enough to
raise the blockade. The tobacco crop, subjected
TO the same fnanciering process, wlll give to the
lever compound energy. Think Of all Europe
fuuing over empty pipes But to mar this
admirable scheme there comes the specter OF
total failure. II the blockade be not raised, the
cotton and tobacco, even though bought for
doornsday bonds, viii be worth nothing; because,
being held over, a new crop viii come 10 COM
petition with it, and values will in both cases
disappear. Two crops perish instead OF only
one
On the other hand, should the blockade be
fuddenly raised, the price in England viii fall
from its present high figure TO very low one,
creating new convulsiOn which will ruin hun
dreds ard send prices down to still lower
level. To this add the fact that England is al
ready compelled to send us gold in exchange for
food, and that We are neither buying nor likely
10 buy much from her for long time. Our
markets are practically closed to her, and the
Rebellion has done it. Rut the Rebels must have
goods. How can they obtain them except by
selling their cotton and tobacco 7 In no other
way have they procured item heretofore. Even
the millions out Of which they have cheated the
North have been purchased on The credit of their
crop,. They are the only reliance now. But
their Government owns both cotton and tobacco.
Now, are England and France to pay for both
in gold, SOY $3.50, ,000,OO0i They cannot do il.
A drain of that magnitude would make all Eu-
rope bankrupt. Then, the Rebel Government
takes pay il trade, cloth, iron, silks and GIN
cracks, and distributes them among the people.
Innumerablo agents must be employed to accom-
psh oil this. What gigantic peddling business
would thus be the result of Rebellion What
golden opportunities for plunder it would afford
How the old Treasury thieves, Thompson, CObb
and Floyd, would flock Ike carrion birds round
tie newly scented carcass The world he's never
beheld carnival Of stealing such as this would