Arkansas true Democrat., 1861-07-04
From the London Times. Mir. Russell's Letter.
MONTGOMERY, CAPITAL OF THE Cox FEDERATE STATES OF AMERICA,
 May s, 1861,

hON1GOMERf, SAIIIAL UT HE N+ON-j
 FEDERATE STATES OF AMERICA,
 May 8, 1861.
 In my last letter 1 gave an account of such matters as passed under my notice on my way to this city. which l reached, as you are aware, on the night of Saturday, May f. 1 am on difficult ground; the land is on fire; the earth is shaking with the tramp of armed men, and the very air Is hot with passion. My communications are cut off, or at best accidental, and in order to re open them, 1 must get further away from them, paradoxical as the statement may appear to be- It is impossible to know what is going on in the North, and it is almost the same to learn what is doing in the South out of eye-shot; it is useless to enquire what news is sent to you to England. The telegraphic communications are now bro ken, so are all the mail routes Newspapers and letters now and then reach we'll known people here from New York in six or seven days Events hurry on with tremendous rapi'lity, and even the lightning lags behind them.
 The people of the South at last are aware that the Yankees" are preparing to sup port the government of the United States, and that the secession can only be main tained by victory in the field. There has been change in their war policy. They now aver that "they only want to be left alone," and they declare that they do not intend to take Washington, and that it was merely es fent that they spoke about it. The fact is, there are even in the compact and united South, men of moderate and ex. treme views, and the general tone of the whole is regulated by the preponderance of one or the other ut the moment, have no doubt on my mind that the government here intended to attack and occupy Wash instUn; not the least that they had it much at heart to reduce Fort Pickens as soon as possible. Now some of their friends say that it will be mere matter of convenience whether they attack Washington or not, and as for Pickens, they will certainly let it alone, at all events for the present, inas. much as the menacing attitude of Gen. Bragg obliges the enemy to keep squad ron of their best ships there, and to retain force of regulars they can i'll spare in a position where they must soon lose enorm. ously from disease incidental to the climate. They have discovered, too that the position is of little value so long as the United States hold Tortugas and Key West.
 Thsy firmly believe the war will not last a year, and that 1862 will behold a victori- ous, compact slaveholding confederate pow CT of fifteen States under strong govern ment, prepared to hold its own against the world or that portion of it which may at tack 1t.
 l now repeat the sentiments and expec- tations of those around me. They believe in the irresistible power of cotton, Ill the natural alliance between manufacturing Finland and France and the cotton produc- inc slave States, iA the force of their simple tariff. and in the interest which arises out of a system of free trade, which however by a rigorous legislation, they will interdlct to their neiglbors in the free States, and only open for the benefit of their foreign customers. Commercially, and politically, and mlitariy, they have made up their minds, and never was there so much conf. dence by any people in the future as they have, ill their destiny.
 Listen to their programme:
 It is intended to buy up all the cotton crop which cah be brought into the market at average prices, and to give the besas of the Confederate States fer iha amount. these bonds being, IS we know. secured by the axport duty on cotton. The government. with this cotton crop in its own hands. will use it as formidable machine of war. for cotton can do any thing from the establish ment of an empire to the securing of a shirt button It is at once king and subject, master and servant, captain aud soldier. artilarIman and gun. Not one halo Of, cotton will be permitted to enter the North orn States. It will be made an oflense pun ishable with tremendous penalties. among which cou6scation of property. enormous fines and even tue penalty of death, are