The New York herald., 1862-01-01


ness Of s25, 1882 GOO. while the partial returns
or the year 1861 reveal 1853 failures, with liza
bilites amounting to S2s,57s,257, although the
returns from the revolted States embrace re-
turns only for four months, when the facilities
of communication were cut off. This excess of
failures arises from the fact that many of them
were voluntary, and for the purpose Of evading
obligations to the North. Subsequent State ac-
ton annulled all Northern claims. To New
York city the South owes Sl59, 500, 900; to Phila
delphia, $24,6OO,0OO; TO Boston, 81 ,GOO,OOO
to Baltimore, $l9,000,000. The entire
indebtedness to these four cities is
$2ll 100000, and it is estimated that
there is about ninety millions more
due to the rest of the loyal cities and the States
of the North, making total of three hundred
millions, Of which more than one-half is due
to the city of New York. In dry goods alone
New York lost seventy-Gve millions by the'de-
falcations of the South.
Il is thus evident that the South has been
fighting us of the Northern States with our own
money during the last year. The three hum
dred millions due to us have been employed in
breaking up the Union. The Southern rebels
have used our capital against ourselves. With
out it and the arms and ammunition of'which
they plundered US they could have done nothing
Now chat our capital in their haudsTis exhaust
ed, the sinews of war will soon fail them, and
the rebellion will die of sheer exhaustion.
The Prophet Russell Upon American In
situations.
Still remaining in a country whose integrity
he opposes, whose institutions he ISLANDERS, whose
policy he misrepresents, and whose hospitality
he abuses, Mr.. ILL., D. Russell continues to
write silly letters upon American affairs to the
London Times. Having lost here what little
reputation he had as a correspondent, he
now seems anxious to convince those who
read his letters that he is a prophet. The num-
ber of such phrases as 81 told you SO before"
and Gas l formerly predicted" and "as | said it
would be-" and Gas I told you months ago."
contained in his letters, would battle the Light
ming Calculator to compute.
That Mr.. Russell brought extraordinary pow
ers to his prophetic work no one can doubt.
He had been in this country but n very short
time before we discovered that he reported oc-
currences upon the clairvoyant principle, and
that it was not at all necessary for him to be
present in order to accurately describe any in
cident or occurrence. His description of the
battle OF Bull run, for instance, and Of the
panic that ensued, was mastery piece
of workmanship. IL was impossible for
ordinary people to understand how
Mr. Russell could describe so wildly things
which he never saw, and, indeed, things which
never actually occurred He was not upon the
battle field, and yet he confidently asserted that
no batteries were charged by the federal troops
1t is true that all the official reports give the
lie direct to Mr.. Russell's statements; but, then
what is the veracity of an official report CON-
pared to that of Times correspondent Mr.
Russell was nowhere near the battle field, and
yet he saw Capt. Meagher play the coward. 1t
is true that all of the officers Of the SixtyniHth
and all other persons who were witnesses of
the contest agree that Capt. Meagher fought
like hero; but then Meagher is only ON Irish
man. and Russell is that liSus nature, an Irish
tory. After the battle Mr.. Russell wrote that
he encouraged, animated and talked with the
flying soldiers. ltis true that gentleman who
ingtou contradiets these assertions, and says
that Russell did nothing but spur up his horse
and beat hasty retreat but is Russell's word
to be doubted upon such evidence? Certainly
not Russell is medium. and sees things by
clairvoyance. 1t is not necessary for him to
500 q hati in ordar IN Ennuy al ahnut IL or 10
be present with men in order TO converse with
them.
With such powers il is singular that the
prophet Russell has not succeeded very well in
his predictions. Our readers VIII remember
that when he FIRST came to this country he
grasped the whole question with that facility of
observation and readiness OF deduction peculiar
to his genius, and Immediately informed us that
the Union would be pcaceably dissolved, be-
cause our merchants were apathetic, and pre-
ierred eating Strawberries and cream to fight
ing the rebels. We all know how completely
that prophecy has been fulfilled. 1t must be a
source Of qualification to the eminent British
seer to review that truthful prediction. A
Wooster street 'seventh son Of seventh SON."
OF the tribe to which Mr.. Russell aspircs to be-
long would curse his unlucly stars, and either
commit suicide or change his place Of business
forthwith, if he had made such fasco and it
were found out But Russell is no ordinary
soothsayer. Such failures do not in the least
1isbiIiit aisbiIiit him. His 'selfeonscousness, as Oakley
Hall calls Massa Greeley vanity, is altogether
too great TO admit Of a defeat He picks his
prophetcal flint and tries again
This time he predicts Northern civil war
because Fremont was not presented with real
sword for nothing Evidently he imagines that
the Pathfinder intends 10 burke Honest Old
Abe, transfx the Cabinet like pigeons on
skewer, and seize the government. Conscious
however, that he is unprophetically behind the
age, and that he has read in the HERALD that the