New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-05-14
I u grsas u j rsass II ! d s.rs No ssTf1.


strength, are continually going BY the board. If
the present march of ruin is not speedily stopped,
in less than sixty days general bankruptcy will be
therule in large Northern cities, and seiYency the
exception.
This is apparent from the tone of the rabdest.
Black Republican Journals, in their financial articles
aud editorials referring to business affairs. They
try to smooth over matters as much as possible,
but all admit the existence of widespread embar-
rassment. 0fcourse the South is made the scape-
goat of most Of the trouble; and non.paying
Southern merchants are charged with the produc
ton of the largest amount of the distress. To a
certain extent this is true. Payments from the
South have been necessarily slack. But, who pro-
duced the necessity Who caused the suffering
Who forced the present condition of things Why,
these very Northern people, And, if the conse-
qnences of their oWnfoy and Wickedness are now
gnawng at the yitals Of their prosperity, let them
blame themselve not Us. Let them also, if g
spark Of honor still animates their bosoms, admit
what the New York Herald admitted q week or
ten days that the payments from the South
had been fully as good as the payments from the
West.
So far as the South is concerned, we presume
no more payments will be made to the North of
any kind or description whatever, at least not
until Lincoln's Government refrains from the war
it has wickedly and. causeiessly inaugnrated, and
makes peace on equitable and honorable terms
with the Government of the Confederate States.
When this is done our people will pay what they
owe with the least possible delay. But, until that
event is accomplished, we imagine very little ''aid
and comfort !, will be given the common and dead
IL Abolition enemy.
E In the New York World of the Sth inst, there is
Ia long and significant article upon the prevailing
distress in that city and section of country. Al
though the World is bitter Black Republican
paper, it admits the fact fully charges derelict
Southern merchants and The miserable system of
long credits with the blame; tells the farmers
there that under the ssquickenng influence of
revolution, their products are likely to be even
more profitable in consequence of the war; that
taxes, to be sure, will be high; u but that " the
prices farmers VIII get for their crops will more
than compensate them for the excessive taxation
they Will be obliged to undergo
Having thus sought to reconcile the New York
farmers the grinding taxation in store for them,
BY holding out fallacious promises in the way Of
enhanced prices for their agricultural products,
the New York World proceeds to console itself and
the commercial community it represents, in the
| following manner:
| There will be q great amount of business to be
done and our commercial cities have the requisite
capital and enterprise to do it, but the disastrous
failures which result from the ruinous system of
long credits and the Temporary destruction of
Southern trade, will very likely replace many of
our prominent merchants by a new set. The
Southern trade is only suspended. not annihated.
This years cotton crop, which will be ready for ex
portaton about the beginning of winter, will be
shipped up the Mississippi, and thence by railroad
to the seaboard thus transferring to the North the
principal branch of Southern commerce, and bene
fitting our great lines of transportation The art
eles Of necessary consumption which the South
must purchase with the proceeds of the cotton
crop, must come to them during the blockade of
their ports through the Northern cities. Truey the
war will diminish their ability as buyers, but the
North Wilbe benefited by their trade as far as it
goes whether it be little or much. Business will
readily adapt itself to the new condition of the
country, confidence will begin to revive with the
Termination of suspense and uncertainty, ard the
industry and trade of the country will be sufficient
to give us resources for conducting the war to a
successful termination.
Dreams gentlemen of the World! dreams
Most Of your g prominent merchants will never
be replaced I" by set, z or any other !" set,
unless some fresh and unknown avenue Of trade
4 ID opened for their relief. & The Southern trade,
| 10 far as you are concerned, is not only sus
pended p but it is g annihated Z unless you in
\ nedately terminate the war Lincoln is now wagin
4 upon us, and make peace with us on our ow
4 terms. That is your only chance, and very sma
4 one it is, too.
\ A goodIy portion of e this years cotton crop
1 viii be g ready for expectation about the begin
4 ming Y of September, instead of winter as til
World has it; but not one bale viii be shipped u
the Mississippi river or by railroad, or by an
4 other means of conveyance, in a Northern drec
4 ton. A simple proclamation from Montgomer
would put stop to all that most eeetually, if an
4 of our planters should be base enough to aid tn
enemy by attempting to forward his cotton t
I Northern ports, which we very much doub
Therefore, the fne-spun speeulations of the Worl
fall to the ground-are as valueless as the yagarie
Of mailman. Then, if what we look upon as a
]. absolute impossibility should happen to be real
Il lied and our ports should be blockaded, that co
" ton aoN remain on The plantations aollere it aud
raised, until somebody comes along (not Norther
Abolitionists OF their agents) to purchase it, pa
. forit. and take it away. We expect to sell oar 81
TIE crop of cotton, save what we use and manufa
ture ourselves, to parties across the water, and
!. take In exchange for it such articles as we wan
j most Of which we have heretofore purchased fro
| the North. BY the first of next October, Englal
will have a scant three months supply of cotton
\ hand; her whole manufacturing, financial, in ia
y national existence, depends upon an adequate 81
4 ply of cotton; she must have it, and can get
j only from the Confederate States and, judging
! the future by the past, we infer that she is n
+ going 10 ruin herself and throw away trade wor
, two hundred and fifty millions per annum to plea
: a vile set of Northern Aholitionists.
But if England. France and other Europe
powers, do not feel disposed to buy our cotton
# allow US to purchase what they have to sell, st
j. years cotton CROP gentlemen of the New 70
IT World, will still remain safely on the pianatiu
4 where it was grown, until o purchaser is disco
cred However, we shall not want purchase
Z judging from assn ances from The highest quartz
to say nothing OF the fact that England aud Euro
require every bale we can possibly raise.
y In the meantime we of the South will have
much bread and meat as we can possibly e
d without receiving q particle of food from any p
d ton of the earth, and we have clothes enough
il last two or three years. Therefore, we are "
&c prepared to awaitfhe progress of events.
S The above picture is trathfulg mned. Fl
do you like ii, gentlemen of the World !? You Y
OF realize its full truth aud more TOO, in less than
~ months, ID the iron blockade Of your ports, P
o. haps their borahaFdment and destruction, uni
you embrace the golden moments now YOU
az safed You-soon to pass beyond your reach
vii overland acknowledge the independence of,
the make peace with the Confederate States of