Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1861-08-26
THE RICHMOND WING.
FOREIGN VIEWS.
THE AMERICAN LOAN.

| THE AMERICAN LOAN. -
The London TTm,s, of August b. in is city article,
publishes letter. from which raot the foil ,wirg
New York and Massachusetts, are probably good for
any portion Of the loan that might be endorsed by htn
but t must not be forgotten that New York has been
built up by Southern and IVES trade quenuy
the former ia lost 1t and much Of the r diverted
the taxable capacities Of New York, well as II the
| New Eugand States will to considerably diminished.
The Fsdt raj debt 10 At present undoubtedly small and
there be question 10 the wealth population, or
resources of the Northern State but II
population lime constituted security, we should see
| Spanish bonds par We must remember that it
IL Ied principle OF United STATE law laid down BY
Judge Story that Illegal to pay any debt TO All iudi.
yiusl living iu State with which the United Statss are
al var ransom debt alone excepted Asto he obsei-
vance Of this law have the united testimony Of the
North that Southern States and Southern traders rei
euusy obey this law least o. the Union they have
so soemnly sbjured. On the other hand know that
the Government OF the Pedersiss acted upon this prin
cp!e IN the matter of tie Texas Indemnity bonds, aud
again later in iobddrg the mint to part with gold de-
4 posted by one VI the G.orgit banks
Such being the law othe United States and the prsc.
ice of both Federasts and Confederi'es when fighting
among themselves what would be the prospects for our
princil and interest il found ourselves involved in
tie war with which they 80 constantly threaten us >
Again upposipg the Union re-estabshed how will the
South coeTced back lock debt incurred for its sub
iugatony Would an uncomfortable Democracy quietly
submit the annual payment Of tribute OF interest 10
EurSpean lapallsisy On the other hand, II the North
ern free States DO their passionate tesre be
reunited TO the Southern slave Staes-l the South
not be coetced back into the Unon and the principle Of!
ssion is recognized established and irirm phantto
what look the United Ststess Where Is
cession STOP and to which Of the S.a shall
tuslly have 10 look fer repayment. Shall trust the
Federation until whether there is any centrpeta
force 10 the resduary States Or shall be content
look TO the individual entities OF States for repayment
OF their respective proportions OF the loan? Inc New
England States may be good for their shares but three
OF their Northern we'll three OF their Southern ss
tes have had their Characters damaged BY reprdiaton
Iowa has just bad a local reputation the others
have European stain, and Tennessee is looked upon
very suspciously iu Wall street. account of recent
acts OF lis State Les +ature. Il 10 notorious that the
American people very sslous OF taxation. As TO the
extent OF their taxable cnplctes that is question Of
opinion. IL is generally all Jwed that Mr.. Chase has
greatly exaggerated the realized property OF the country
and in iustancehat Of Onio-the fa,ciousness Of
HE figures has been clearly exposed Indiana aud Iii
nos have lately been in the market for loans the
requirements OF their State eIpen dture The former
taken at low rate the alter had 20 be withdrawn
II they ar. obliged borrow tor State requirements
what is the prospect Of tier Icing able bear add.
onsl dheet taxation for Federal purposes II il said
thai rtain duties be devoted to the pay
the Interest OF this losn II this be true, il is
fall for America TO be giving pledges Ike Mexico
or Turkey; tut Is In atty security for this simple
that The laws Of the United states are efpret-
81 by elective Judiciary, which paid for interpret
ing thIm to the will Of the people. Witness their pro
eedure relative TO the queaon Of belligsrsnt rights.
which they Interpreted eoGraiN TO Wheaton, and cou-
trary TO their action in the ciy war between spain
aud h,r COLONIES tlso lie blockade OF their poris,
although not many monhs previously they bad held thai
Frances II. cSiid not blockade his Scau ports and
next their recent haste come into the PARIS treaty de-
Glazing priyaterg piracy, after having been the
| ous opponents y that gr, at step in CIVILIZATION.
They now enulciate feature Ia international law
by attempting collect import duties outis their har
bors-in fact ca the open sea- Their whole course OF
scon in this yiatief OF the blockade ia based two
enormous errcts FIRST the Federalism claim that they
have m jriy Of Uuiouists h them in the South,
Vet they PEI si5 in running the trade # Nor,hera aud
Soothen friends merely oue the fecusant minority
secordy it is erly impossible 10 stop the trade. You
NAV as well attempt dam the Mississippi as prevent
cotton worth niue cents iu New Orleans finding its way
TO New York liverpool ard Boston, where il Is worth
nearly double fseights Of % pei pound from a
ZOO miles extent will enlist the symparhes of North
en- ship-owners Who AZ present fad their occupation
gone They have been the chie supporters of the slave
trade. Let hope that they will torsake that inhuman
traffic for the more respectable calling OF smugglers.
No capitalist who has the interest Of this country really
ri heart will endorse the proposed loan by his agency
The cny fear Of t being attempted s from the
Gus brlbe that Mr. Chase has II in his power OFF
slch WAS never before pioed in the hands Of any
Maitrr in any free country. IL is fact that not only
the price ana tue VI Tue
when ard the how is 10 be raised entrusted solely
TO Mr. Chase Further be has the power to fI the
OF excl angs az which Interest and principal TO be
RENTED This viii involve transactions Of 81 400 600
per annum for interest," amounting IN twenty years 10
gas, 100000.
INDEPENDENCE OF THE SOUTH.
From he London Pos! (GoUsr,n,ent orean) Aug s.
Three Federal regiments have returned TO New York.
aud have met with sn enthusiastic reception" Whether
these regiments composed Of hne,y days service
men, who left the field Of battle when the enemys
non sounding in their ears the telegraph does not
state The Republicans in New York. revering the 10
rinphs of Republican Rome appear to justify disaster
aud disgrace by accepting and acting upon the maxim,
picrir casa Dis ploctiit, ned Vis'd CdOfi. Their
policy evidently is TO put good face upon defeat and
disaster We do not quarrel with them for doing this
because il is only additional specimen Of that spirit Of
eIlrgsrston which would be eIcusable If il had the
| merit in any sense Of btiog true.
The Norherneis TO adopt the American phraseology,
have received II thorough and complete "whppiDg,
and the elasticity Of their patriotism Can only be measur
cd low The folly which b-s given ovation 10 three reg
which had the good luck 10 escape from the
in the chance IDety Of great battle. The New iork
plpes appear TO think that Is their duty well In the
momont VI eIuatioh sSo disaster 10 Willy ard abiss
England The sequiitiol Of ada according TO the pro
grumme Of Nj Seward 10 TO compensate for tie loss OF
tue South Cuba Is slso to bs annexed at the frat
yenient opportunity We have no fear for Canada which
on former occasions and under more dsadvantsgeou'
circumstances has successfully held her 0wr not only IN
the face Of drec, invasion be-. against the less opsn at
| Temps ef American sympithizsrs
We believe that az present Spain has . navy amply
sufficient 10 the safety OF Cuba tn1 to deny any
force which the Federal Government could bring TO bear
for the purpose Of anneIDg sind which, invaluable
to the South the great rspot and seat OF the slave
trade ought according 10 the theory Of the North TO be
of it'll, commercial political import TO the free
s, States The Cabinet Washington has quite enough
to do without wantory Offering insult 10 such power
a. SPAIN We however, take these matters as specimens
of that international bounce which appears TO be ohro-
mic feature Of American character. Ia the words OF
Tom Thumb, " When rsbelons dead the New York
press may take its breakfast" and abuse, vy and out
rage friendly foreign powers but at present the task Ia
both premature and ridiculous Ia the existing condition
Of affairs In the United States Maine and the agricutu-
raj West have far greater chance OF separating from
the Union aud joining Canada than British North Anne
RIGA has of throwing in It's fortunes with the enfeeb d
dislocsted and dismtmbered neighboring reputlc.
But still there remains the question Of beIigerent
rights, which continues TO excite the yrtuous ndigna
ton Of the Northern pres The few short, courteous
and sympathzipg words which her speech con-
ains to be msntepreed on the other side OF
the Atlantic II is OF use 70 tell Our American con-
temporares that position Of neutrality both the 10,
and the duty Of this country they are irriated
and offended because England hos not formally aided
and abetted the Of the North by declaring the '
cessonists 70 he rebels and traitors We belisve that
the Government Of this country only deal with de
jure Governments IT IL FACT THAT rHE South HAS
AcBAyED lsDtPrSDrScE and even If II not so, the
decisions of the abest American rss may be cited TO
show that foreign Governments bound to recognise
and respect successful revolt The United States before
the final separation OF the American colonies from Span
admitted the latter to ballgeren rights England has
| dOne nothing than sirictly foilOH the