New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-01-26


Fran Oar Special Correspondent
l., WASHINGTON, Jan. "a, 1861.
The latest phase of events here is strong
demonstration from Virginia and Kentucky to
obtain some form of concession that will keep
those States from being drawn into the whirl-
posl Of Secession and civil war. 1t is now be-
beved that the Secession movement can be ar
rested there on the basis of Mr.. Adamss propo-
sition.
i have heretofore expressed the opinion that
netting short of the partition Of the existing ter
sitory on the line of $50 80 would be of any
avail with these States and i cling to that opin-
ion still But there are reasons for believing
that less will answer their turn. So at least
prominent gentlemen from both Kentucky and
Virginia, within day or two, confidently allege.
And they are putting forth powerful efforts to
realize an adjustment on this basis.
But where the votes are coming from to secure
shls result is not now to be seen. Very likely
such measure wsuld 90 through the Senate
though probably at least half dozen votes of
the extreme Southern men yet left in that body,
would be thrown against it.
In the House the chances are by no means so
eeod. 1t is confidently stated that at least eighty
Republican votes can be counted on as certain
against any kind of action whatever. While
several sporadic cases Of uncOnquerable hostility
10 it viii be found even in the conservative
States Of North Carolina, Tennessee, and Ken
tucky, as well as in Virginia. Without a marked
change in some quarters, it is thus quite impossi
be TO see where the votes TO pass the measure
san be found. ..
But as events approach their elimination, they
magnify in dimensions, and the pressure here
win be tremendous upon members to induce them
% avert the stroke that will sever Virginia and
Kentucky from the Union. And while hardly
anything in the way Of action now looks proba-
be it is not too much to say that anything is
possible. Public bodies in times Of high excite
ment go by impulse, and even by panic. This is
shewn in the Incorporate and insane action Of
syery State that has yet had a chance to act
on the question of Secession. The only men who
have thus far proved to be imperturbable in this
rrisis, are the main body of the Republicans.
The thing that most astOnishes all rejecting
men is the easy and jaunty manner in which the
financial circles of Wall street regard the pro-
gress Of events. As the great drama progresses,
and State after State throws itself upon the
stormy sea of revolution, leading the way for
others who seem little 10th to follow, the obliga-
ions Of these States stand unshaken, or rise in
the market. Yet if the revolution progresses &C.
sording 10 the programme, of which every day
aEerds fresh proof that it will, the ultimate re-
padiation Of the debts Of the SlayehOlding States
soems inevitable. The bonds Of Virginia, in
revolution, no man would be likely to take at
Fifty, or perhaps even twenty-five cents on the
dollar. Yet Virginia stands to-day on the brink
Of it, and the certainty Of her final plunge has
increased with the lapse of every hour since
Congress met, while her stocks have sensibly ad-
yanced in the New-York market. And what is
hse Of Virginia is equally true Of Tennessee and
other Slave States. }. 5. P.