The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-03-13

That the crisis which has convulsed the country
is not purely an ''artifcial'' one, or one from
which serious, permanent hurt can result to
any body, even Mr.. LINCOLN himself must have by
this time discovered. The stagnation of business
of all sorts, the stoppage of manufactures, the
diminution of imports, and the strngency in the
money market, are facts which have long since
satisfied every one here that even now very
many people have been hurt. and that our national
prosperity has already received a severe check
But great as our losses have thus far been, they
may be regarded as insignificant when compared
with those which we may yet be called on to bear
If the differences between the North and South
could be at once adjusted, we would speedily re-
cover our lost ground. To the vast majority of
the individuals who have succumbed during the
crisis, the settlement of the pending dispute would
now bring little or no relief; but the business Of
the nation at large would revive, and would ex-
pand so vigorously and so rapidly that all traces
of the ruin which has been wrought would be
soon obliterated. Bad then, as the aspect of affairs
has been, men have nevertheless solaced themselves
with the idea that their losses were only tempor-
airy, and that matters would not grow worse We
$500
much longer left us. The probability of a recon-
struction of the UNION within any definite period
is becoming fainter and fainter, and it behooyes
the people of Baltimore to consider whether thew
are not destined TO suffer still further by 90 CA
lamitous an event as the irreparable destruction
of our Confederacy The Confederate States
are lndustriously organizing an Independent gov
eminent OF their own, and are preparing to defend
1t by force of arms. The government at Wash
lngon is in no condition at present to attack the
new Coafederacy, even if disposed to do so, and it
Is not probable that it WILL at any future time be
a'le TO overthrow the latter Moreover. the indi-
c'''ohS are tlat france and England will welcome
Tue confederate States almost as soon as they
claim recognition as an Independent nation II
IS true That when the secession movement first he
gan, the sentimental theorists abroad Protested
that Europe would look askance az the wicked
saveholding section of our Republic, and leave if
TO be dealt with as the stern Judgment or tender
mercies of the North might dictate; but the practi
Cal statesmen and shrewd business men began, as
soon as the question became serious, to intimate
an intention of taking it into their own hands
They have now almost monopolized the discussion
ces OF secession in which they manifest any inter-
est are those which are to affect the financial and
commercial relations between the South and Great
Britain. Not only therefore does the separation
OF the Gulf States from the Union seem to be in
evltable, but there is every reason to believe that
the southern Contederacy will maintain its posi-
tlon' and be also acknowledged by the world. In
such case is it not apparent that the people of
Baltimore are to be hurt, seriously and forever bv
the artificial movement at which Mr. J,xco1y
sneerS. We have no trade to-. spare, no
connections that we can afford to lose,
and yet it is certain that our relations
oItooatbern StgteS are about to be embarrassed or
''itoSeueT ueStroyeu tovutl UIIrIa yIruIr ia,
Alabama, Florida, Mississippi, Louisiana and
Texas are about to become towards US as foreign
nations. Whether our trade with them be much or
little, 1t IS ofyast Importance to US, and the chances
OF keeping it in its accustomed channels seem to be
all against us. The tariff which the Southern
Contederacy has now adopted will enable the
people of those States to supply themselves with
many things which were formerly distributed to
them from or through BALTIMORE and it is by
no means certain that in return for the recopni-
ton OF France and England, the Southern ports
VIII not be made free to the goods of those
countries, and that the products of the hated
North will not be Disseminated against But
we need not pursue these speculations into the
future in order to show TO how fearful an
extent we may be some day injured The posi-
ton of affairs at present affords US concern
enough. If the dissolution of the confederacy,
as far as it has gone, is to be regarded as final,
1t is palpabe fact that Baltimore has been
thereby damaged to no inconsiderabe extent,
and to this fact the people of this city cannot
give their attention an hour too soon.