The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-05-17
THE WAR In AMERICA.

tHepOrtcu
Agent 70 the SOuth-Active Trade In
Steam Vessels In England-LOrd Pal
merston Recognizes the Lincoln Block
ado-The Rebel Privateers Pirates
England Has Twenty-three Weeks
Supply OF Cotton-The Davis Govern
ment Not Recognized by any European
POwer-NeutraIs and Neutral Rights.
The Paris correspondent of the London Chronicle
writing on the LIST Of May, Says
consequence of the gravity of the political situation
in the southern parts Of the United States the govern
is am informed, about to send there eminent
dploma,st TO observe and report on what may there
occur.
Mr. G. Moler Of London, has the following remarks In
his steamship circular, just issued
The business we. in chartering also in selling Of
steamers, has umed more activity during the past
month several sales OF good second hand boats have
taken place. and only the scarcity OF this class OF vessels
has not allowed the amount Of business might have
expected, from the numerous inquiries, TO be done.
Several for steamers have been concluded
the shipbuiloers in general fully occupied and par
ticulai the Clyde building yards seem to have got
of light draught water have been much in demand for
charter, and have commanded very high rates; but II
appears these requirements are now provided for.
The London Times Of the 4th of May has the follow ing
In cor sequence of the high price Of cotton reduction
OF ~ per wages has been determined on by the
mowners IN the west OF Scotland.
The London Herald of the 4th Of May has the following
remarks In it's money article
There greater strength on May In the shares OF
the Marine Assurance Companies, which were supported
full prices owing 10 the expected increase OF opera
tions through American hostties Ocean marine we're
quoted So a premium.
Tho Manchester Guardian Of the 4th OF May remarks
The spread Of the separation movement in America,
the ncreasngly menacng attitude Of the
States again stirred up the spirit OF speculation in
fhe Liverpool cotton market and nparted further up
ward tendency In prces The producers OF some kinds
OF yarns made from American cotton prompted by
1he above intelligence from attempting sales
mr. Ia n
Of price. But, stated In our previous reports
1be impending civil war creates an apprehenson or
mercaI mischief in the States and consequently, Of
monetary disturbance in Europe Bankers and discount
thus rendered cautious and SO are the buy
ers OF our products in fact both the home consumers
and the shippers Of yarns apsainng from business as
much as possible.
Messrs Holt Company, of Liverpool say In their cot
ION circular Of the Sd OF May
Under the exciting political advces received LAST Fri
day from America, our market presented very ami.
mated appearance business 10 large amount was trans
ated and general advance Of I'd per pound as noticed
in our circular, established In American cotton
Although the advices to which refer were fully con
rmcd BY later dates still MS the week progressed, the
fell off, The Manchester market did not respond
sufficiently encourage 10 enter into large in
vesments and with accumulatDg stocks, and general
disposition the part Of importers 10 realize, prices
were lees firmly supported Yesterday however, the
receipt of et by the Canadian, the demand
WAS very active, and largely speculative.
Messrs Legar Tunneclie, Of Liverpool, say in their
corn circular Of the Sd Of May
10
net OF this insane drama already played and the con
tending parties appear preparing for deadly struggle
sosseS perhaps, Aapyy, fee ampi reaiise Meantime
opinions strongly favor large and continuous shipments OF
grain and -four 70 England after reopenng OF internal
navigation on the LIST Of Nay The quantity nov ahoas
So COO barrels eur and " 900 quarters Indian corn.
THE SOUTHERN BLOCKADE AND PRIvATBERs
IFrom London Post Qord Pamerston organ), May
Mr. Ewart, representing the gresteet emporium OF Am
ecan trade which exists not only n this country but In
akA uoxlA In nutnr y tn IN
amount Of protection which her Msestys Minister'S
prepared afford 70 British commerce in the Gulf OF
Mex This Interpolation In very sense equally
timely and necessary Mr.. Jefferson Davis, the Pres.
dent OF The Southern confederation anticipating by few
days the action OF the federal government has stated
his intention of commissioning privaeers. lie has prac
tcally thrown down challenge and instituted policy
which the North to insure success has only TO initiate
enforce. But, considering that the great staple
export OF un South s cotton, upon every bale
Of which - new oonteoeration has lately
levied tax, the legality OF this trade
whether carried foreign American ships becomes
matter Of deep and serious consideration The South
possesses commercial which could not be easily
swept from the seas by the privaeers New York and
BOSTON ua v DC wfnieoe Of tvung ers g mrrqu: w.re
once occeted 70 t Insurgents, the ghoIe Of ne compeyc. Dc
t'oeen bros ond Amrtod Uouid he PLACID IN position Of
1sminen peyrt AVID danger. Under these Giro instances
lord John Russell in reply 10 Mr ETart simply stated
that her hsostye government felt very deeply that
imperative on them TO all possible means TO avoid
any participation In this lam ,nabe conflict and that no.
thing but the imperative duty OF protecting British
eets could Justify them in interfering adding these en-
pbatc words, Eve are now free and for Gods sake
let keep out OF the quarrel we 90 not Imagine
that Bri, sh shipowners with the fear Of
RANGES before their eyes will be rash enough
10 carry on an Illicit and lucrative trade by doct,ng u
yroea ,oaich es>r b.uiover nsoy offer. There be
doubt that the President In strict Interpretation OF
public law, has a right both 30 declare uock1k 9 u,
ycuusr rcT and b treat Southern pyIvaseeys Uh cap
tfred as ptrui>s With regard 70 the one he has this
condition 70 observe namely, that the blockade be ehec
tual, which has always been the American practice,
well the rule which recognized by the late treaty
~ Paris With regard TO the employment of prvateers
me American government has always maintained posi-
iese OF granting letters Of marque except the concession
were accompanied by the assertion Of the rule that
IN time OF war all com nerce not contraband OF war
should erjoy equal immunity upon land and This Ia
not only sscous but an impossible doctrine, because
we AZ Know from history thst property land, whom
the exgencie Of war require H. m "a asle 70 con-
aecstior sno destruction goods a. ses Bat xr. Lio
coin dhSs IN sd conformity nib precedent IN dst1r
s~c haf Ne vii ke1, ard punh Sohsn pvisate,vs
FVrass. N The Mexican war, whom wns supposed list