New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1862-04-02
,rl,s war must he Enaea.
/ fFurr the london Times, March /. T.


iTIss War Must He Ended.
3l5& 49, a.
fFron the london Times March N
"Tiis war must be settled somehow The
world has been waiting to hear these words. The
present. moment is, perhaps, rather earlier than
any one expected, but already we catch the ex-
pected phrase, borne in confidential whis pers
across the Atlantic. It has found birth in Wall
street stirs gently in its cradle and II is swathed
in unconyertibie rags. No one yet dares to own it
openly. The thousands Of vultures who ore living
upon their prey wonld scream horribly, and attack
with beaks and claws any one who should with
out adequate power, Interfere with their banquet;
but still the phrase heard and it is growing INTO
more potent voice. In some way or other, TINS
war must be settled. Y In, ~
Wait while wait Just n;asty Day. a. ana 81 IL It
rebeon viii be crushed rs SUI ,b NE os pgy If the
contractors, the Goyerpent oticla,s as n
and an who find powef, or profit oI ais.nS.oa =,
this civil war. merclan.ss sabat az tbav sea5
They see the x1antic cities whitening from hour
to hour; they see the warehouses; empty, the
larger dwelling houses untsnanted properly value,
iass ) asd trade dying. They see wasteful and
nnrrrpt expenditnre Of half million sterling every
dsy. and Id results. except an accelerated pace
\ f6wafIiz national insolvency and general ruin.
stu thsy are told 70 wait another ninety days and
individuals who, by that time, will have gathered
III they can hops to gain, have realized their
plnnder, and lodged il where waste paper is not a
legal tender. .gs "a Ell III 81 s;s Eff lis=
But Will il be well with the owners Of the house
property in the East, who are now letting their
stores rent free to any who will pay the rates
Will it be well with the poor and thrifty producers
of the West, who are condemned by the terms OF
the Constitution to be taxed in ratio proportional
ito population, and not to property? Wilt be we'll
wthsfhe holders of State bonds, which were hith-
Serto holding respectable position as securities,
abut must now be overlaid by the mountain Of ma
stonal debt? VIII it be well, either, with the hold
sers of the Federal State securities, and the pos
SCISSORS ofspaper money, who will look around in
vain for some sources whence their claims may be
met and will awake to the reality that their prop
erfy is but delusion and q dreamf This is all
that those who wait will. ever see. The very Joy
sand exultation which the - successes of the last
few weeks have caused in the North, show how
little the promoters of thiswar really expect that
absolute conquest which they promise. The cap
ture of an eafthwOrk on the Tennessee river, even
if, it be followed by the capture OF the stronger
neighboring fort upon the river Constantine, is
only one of the frstef q long series OF mill tary
preparations for a campaign in Kentucky and Ten
nessee. If the invaders should obtain this success,
its will only be to enable them to feed the army
which has advanced through Kentucky and to keep
1t in working order FOR operating on theatre 5G0
miles distant from the opposing armies on the Po-
tomac. 5#7s@ 3
"a year Of successes wonld only give them
/ military possession of. two States which were
never among the most Jealous in the houthern
/ eanse. Asato the 5desGents upon the coast, they
are ammo yances rather. than wounds. They are
| but like tho burning darts which the Spaniard
thrasts into the TANKS of o sluggish bull to sting
him from bis defensive posture. A hundred such
victories and such inroads as these tell nothing
towards the conquest of country half as large
as Europe, that country be really earnest in its
own defence. The Southern States, before they
revoited. must have expected all tits, and much
nloFe. We have always in Europe given the
North credit for first successes very greatly SUI
perior TO these, and have reckoned that their real
difficulties would only commence when they had
mastered the great strategic points throughout the
South. At the rate at which the war is now pro-
ceeding, i will take, not ninety days, but ninety
i've grandsons Of Gen. Mcclellan and Gen. Beanre-
gard may at last fight out the battle for Manassas.
N Wall street, begins to see all this more clear
". TT was worth a costly experiment to retain
that rich Southern business, and New York will
be, hard put TO IL either to win it back or to do
without 1t. But the capitalists have now come to
the conclusion that the game il up, and That the
experiment is pasaing out Of their hands. The
suggestion TO raise $50 ,00Q,0 60 yearly by direct
alton, does not deceive them. They know very
we'll that, even Il the sovereign people would sub
NIT to endure % taxation Us heavy as that Of Eng
land, America could not continuously raise more
than fl0 900 sterling annually. The rough
calculation has always been that i'll capacity Of
taxation the proportion betWee the two countries
y that American dollars are equal to English
psunds stetl ng: i We raise 85o Qgo ooo, exclusive
plehsea raise $50, 900, 600 Or el0 600 900. Such
pessible TeYanue. even If, it were not based upon
the Wild lmpFobahllIty that the Western States
MIL CONSENT to pay any such taxes, would be a
very poor security for half the debt which has al
ready accrued. ~ this state of things the com
mereial adae, g the first loss is the hestn oonleB
into play, and the capitalists Of New York are
now watching for the first opportunity when it
may be safe e say openly, This war must be
u The e first lossn is indeed bad enough. There
are all the profits Of the Southern agencies gone.
The golfers are al drained by disastrous loan Of
many millions. Having suspended specie pay
from abroad, and they have a Government 90 reck-
lessy msnutact uring paper money that there is no
hope OF Keeping up for any length OF time the de-
iuson that il s OF value. Still, there would be
some hope if they could stop where they now are.
Peace might restore to them some trade relations
with the South, and while the more indolent South
ernera have wealth 1.-The sharp Northerner raay
hope that he will get some of it How the fright
full current expenditure can be stopped or how the
war can be settled, tits, perhaps, premature to
speculate. Nor do we venture to calculate that
the capital is Immediately felt as decisive
onench q question. America has such imperisha.
bic advantage, in her greatsunbroken wastes of
fertile soil, that no mere financial difficulties can
3strangle her. She may borrow and repudiate over
and over again, and ruin every capitalist she has,
and yet rise again and thrive. But at such crisis
assthis theinterests Of moneyed men are lkely5to
be Of great Influence upon events We are much
10 the great cities Of Fedega America has not re.
Gently yeered round ,and there be not, all up ana
down Wall street, general disgust and antipathy
to that ninety days. BILL and an unanimous resolnt
ton to protest it when next 1t comes to maturity.
80 : s---------
Wendell Phillips on the War, s5 81
t3s.xvss -.