New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-09-16

The English papers by the Arabia are princ!-
pally devoted to discussions concerning the prob
able
COTTON FAMINE.
A Liverpool cotton circular, after referring to
the American war, says:
We now beg our friends to understand that the
only means Of slightly mitigating the fearful
events incident to cotton famine are great and
timely advance in price, which will prove to mer
chants and growers in India and other distant
countries, that the scarcity is a real one, and in
duce them to gather up and ship cotton bither
rather than leave it to be manufactured by the ma
tives of those countries. Thus distress may be
mtigated--the wheels Of trade may be kept in mo-
ton, even though at low speed-and partial. en-
ployment may give food to thousands who would
otherwise be destitute. A national benefit would
also be conferred by all spinners who, by running
their mills at half time, should reduce by much
their assumption OF cotton. II this were univer-
sally adopted the present stock, instead of being
exhausted in December would last till May, and
before then it is possible that peace may be re-
stored. N.'
The London Post says:
1t is well at last that the cotton manufacturers
have got good fright. They have been warned, !,
wear after year of the folly of trusting to auy one
nation for supply. All remedies in their power
now were at their command ten years since, yet
they neglected them. Even still there is lurking
hope. that either by compromise or conquest the
civil war in America will be ended so as to give US
Southern cotton yet in cheap rate. But, as day
Mer day closes in, the difficulties of adjustment in
cr&Mse. These are building houses on the sand
wfAaA the Hoods are threatening. That February
next Mal see The end of our American cotton, and
that we are nearly ignorant of the quantity we may
expect to reach us from other countries, are an
nouncements sufficiently alarming
THE SOUTHERN AGENTS IN ENGLAND.
The London correspondent of the New York
Times writes august 24th) as follows:
The news of the battle at Bull Run fell like a
spark on gunpowder among the secession agents
here, and startled them into supernatural activity
While our credit sinks like lead, these busy hands
are writing money articles for the Times and
pumping their ideas into the brain of that Journals
city oracle They are in the markets all over the
country, bidding furiously against our government
for arms, and as seems to be thought not without
success. They have got money-ready money
of that there can be no doubt, though from whom
and at what awful discount, I do not undertake
to guess. They are sanguine as ever of recog.
milton. and very likely have their reasons for being
SO. Nor is all this the worst. W.
Within the last lew days it is rumored that they
have succeeded in equpping and sending of an
armed steamer, with cargo of arms and anlmu-
ton for the Southern States, which has been for
some time past quietly receiving its stores, under
the direction Of Liverpool firm in the American
trade. Of the particulars of this affair am not in
formed; but is said still further, that the British
Government when called upon to prevent the de-
| parture of the vessel, declined to interfere-on
| what grounds have not heard.
If these stories are true, and whether they are
so not must soon be known, all talk of the good
will of this Government towards us, and all the
talk of the English press about our ingratitude
will receive quietus. ...--ur -. -.
But even if the story were not true, it must soo1
become so for there is more than one armed yes
sci fitting out in British ports and intended to be
| run under the British flag till they have escaped
the bio kade and landed their cargoes The
they will become ships war; no doubt and cruise
as the Southern national feet. The English Gov
ernment, true to its neutral ground will not inter
ere to prevent the fitting of these vessels unit
its own interests begin to suffer.
From the London Tmes.l
RECKLESS pROFLIGAGY or THE FEDERAL GOVERN
| MEST.--The armies of Xerxes and the wealth o
| Solomon would hardly sustain comparison will
| the hosts OF men and mountains OF money which
| at any rate, upon paper-.are placed at the com
| mand of President Lincoln for the suppression O
| the Southern Confederacy. We may venture per
| haps, to pass without too rigorous a scrutiny tn
bold, though somewhat gascopadng, vote b
| which the intelligence of the defeat at Manassa
| was received in Congress. The millions SO prec
| pitately offered represented, probably, the patr
otic resolution Of the North to spend its last dolla
| in the preservation OF the UniOp: but wjthor
pressing these loose figures to their literal mpor
we are really astounded at the conclusions whiC
| are forced upon Us by recent reports. 1t used
| be thought that this country had attained an u
| happy but unapproachable eIninence in nation
| Indebtedness. Half our entire expenditure in o
binary years still goes to pay the interest of bo
roWed money, and when we were ktOld TO look
America and observe how, under democratic ms
tatlops, country as populous as our own cou
. | be governed ut quarter OF the expense, we cou
| not but feel the force of the contrast. We 1ne'
: indeed, that America had all her temptations
come, and it was occasionally remarked in the