New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-05-02
ols i an alsssLsrIoN rINANoEE.Ts.

4 ClsAax 4 assLtTIoN FINANoEER.
1he following ID from a late number Of Thom]
sonfs New ork Bank Reporter.
Il Eha material aid !, is ready for tie army ar
navy movements Of the country Money NJ
1 come in any amount on the call Of either FEEDER
nr state Governments, and Judging from the spiE
q the paople, apon the physical power of II
North, and of even the Border States OF the Sout
y enlisted and resting its arms, ready and !,
4 caIi.is
What a magnificent hut sad spectacle is befo
= us-756o 900 freemen in arms, marching southwa
to battle for WHAT Because q handful of dem
gogue politicians refuse to let legally elect
citizen preside as President for the constitution
term Of four years. There is not q national pr
:. eiple IN this war, except ii be the question of
or slave labor in the Territories. Eve I .,sa
reason for secession, revolution a rs aiie
insult TO common SENSE rule sJryis HIT
only honest motto that secs i ~ a 1ie ho !,i
We have come to thaaeww g s. IS s s,sl WIN VIII
has turned Abolitio w. 0e az
y be to the Atrcsfo VIZ 4, ssse lhYlteo ehe
Nor ele seisas sssr and do they ex
f in eai sdsation Of the toma6awk
I and al se the brutal force of slave in
-. =. 4iif so, they are but novices in the
.ite paasenses uman nature. They boast of the aid
nandar alffort that faithful slaves are to give them
evening" war: shah the North refuse to conquer an
s4hemy with his own weaponss Mark the end, or o.,
the prediction rather. The fruit Of secession sgB
be q negro republic on the soil Of cottonont, under
the projection of the United States.
There is d vast amount of capital in New York
the Accommodations of the profits of many years
most of it the fruit of Southern trade. A large
proportion Of this capital fully seventy-fve per
CENTS invested in State and United States
stocks, wholly unavailable at this time, except at
rainous discount. Hence it follows, as logical
consequence, that New York, while enormously
sums Lineolns Administration viii require to
prosecute its wickedly mighty war upon the
South.
IN addition to the runous depreciation of its IN
vested capital New York credit is bound to 50 by
the board ana sink toa depth 81 bankruptcy IN
paraeled in the history of cities, whether of
ancient 81 modern times Importing from al
quarters Of Inc globe has made New FORK what
she il. This fact no sensible and truthful man will
attempt to controYert Well, the war she Is now
assisting Linconto prosecute, will deprive her,
taking the lowest possible estimates, of fully three
fonrths of her import trade. The balance OF her
commerce will seek other channels, just in the
same proportion. Hereafter, the natural equilib-
rum will prevail, and the imports will come to the
cities whence the exports, which pay for them, go
from. This will build up all Southern sea ports,
and cause themto multiply in wealth and strength,
far beyond the anticipations Of our most sangnine
fnanciers
The New York Bank Reporter, assuming to
represent the solid financial men Of that metro
polls, says that enough " material add for
ruthless war upon the South is ready; that sutf-
cient 4 physical power Z is ready; and that there
Is not national principle in this war, except it
be the question of free or slave labor in the Terri
tories.u This is d falsehood: and the Bank Re-
porter exposes its own want of truth in the sue
ceeding paragraph The North is waging 8 war
Of subiugation upon the South-a want0n, wicked
war. The South resists-stands on the defensive.
The Territorial matter has never had anything to
do with the question, since the act of formal Sc
cession on the part of the seeded States took
place.
But, says the New York Bank Reporter +" The
fruit of secession nil be q negro republic on the
soil of- cottondorn, under the protection Of the
United States.n
Should this impossible event occur, the doctrine
Of compensation will hold good, and the Southern
people will be terribly avenged upon their oppres
sors The establishment Of 'snegro republic y
| would do away with the production of cotton The
| mills Of New England would become silent and
4 adesOlate.s IueFeq WOuia
towns or cities. Their shipping would rot at their
4 Wharyes. Grass would grow in Broadway. They
I would have no commerce, no trade, no business
/ for Cop, in His inscrutable Providence, would de
\ nounce destruction upon them in the very hour Q
\ their fanced and uurighteous victory. From tht
4 very depths Of the tribulation to which the Lin
colnites would consign Us Of the South, we could
afford TO look up and pity them for the tremendous
and rretrievahle disasters their own yillainy hat
brought upon themselves.
When the world can afford to get along without
cotton the prediction Of the New York Bani
! Reporter may be verified but not before. In the
meantime, the Southern people the slandered
| malgned Southern people have the proud salts
faction of knowing that, if after saughtering heca
tombs of wicked Abolitionists, they are to b.
ruined, that their ruin will involve the destruction
of their home enemies, and the irremediable break
i ing Of the handspring which now conducts sys
tematically and proftably the commerce of tn
earth, both on land and sea.