The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1862-08-04
MEDIATIOH RECCMMENDED.


reverse sustained by the Fedarals before Richmond
has been of the most complete nature and that the
Losses they have sustained are much greater than
WAS a. first supposed. Meanwhile, the news Of tie
Confederate success at james Island near Charles.
tp3, is fully confirmed
The effect OF this intelligence upon tie public
mind at New York is marked, and We cannot bat
,hiuk unmi,tdkab.e Notwithstanding the cry for
more men, even Tor n copscTiption 1t necessary, to
reinforce Mcclellan and repair his conclusive de-
feat, there is pacific undertone which is gradually
stealing upon the public aud obtaining Maten
ers We read that the questions of foreign inter
yention and mediation continued to be discussed
and that public meeting In favor Of peace was
held AT the Cooper Institute on the lst inst, and
presided over by the ex-AiayOf Of New YORK 1t
seelna, inJsed that while the idea of Intervention
eXcies eXasperation that of mediation is fayoraby
received Bat collect that with the quiet think.
Jag people OF New York the desire for peace Is
gaining ground, and is gradually dispaeing the de-
Fire for war. We not Concerned TO ascert ain
the cause of this approaching change in the state
of public feeling in the North. We point 10 il
merely an indication of which il seems to be the
duty Of this Government, IN conjunction with that
of France, TO take advantage II the opportunity at
all fairly offers. We have always felt that this mis-.
cradle will only be brought to close in one
Of two ways-eiher by the mutual exhaustion of
the conbatants, or by foreign mediation or inter
vention. France and England, as neutral States,
having commercial interests which have suffered,
and still suffering, scuely by the proIongation
of the war, have exhibited ain amount of forhear-
aitCS tuc uihtoiy Vi
, TONS
They have calmly watched the progress Of
events, and have waited until important branches
of The national industry have been placed in the ut
most straits. We may be quite sure that tie Of.
fee of mediator is one which our Government and
that Of France, whether singly OF III conjunction,
Worid gladly undertake Surely, il would be no re.
lection upon the honor vi either of the contendng
parties at the other side ,hs Atlantic that the
should refer their differences to the two leading
States OF europe whose interests are closely bound
up with the future prosperity Of both sections of
Ite Union. The advice that would be rendered
could hardly fail to be beneficial 1t would, at all
events lead to essation Of hostites and of tie,
terrible carnage which is now going on. Sooner or
later, we feel persuaded it will eome to this, and
that the good offices Of France and England will be
invoked. We earnestly hope that these offices
may be resorfed to, before both parties hav
placed themselves In a condition from which there
is no alternative but national bankruptcy.
TIE MONETARY PHENOMENA OF AMERICA
From the London Times's Money Article, 10th |
Although the premium on gold at New York has
advanced, was predicted, TO no. and the future
financial difficulties of the American Government
are immeasurably increased by the defeats at
Charleston and Richmond the crash which is des-
tined to be witnessed may possibly not arrive at its
most complete point till couple of months hence.
The immediate effect of the tariff will cause
I'll the goods at present held in hand To rapidly
cleared, as 10 avoid the augmented rates. and the
Government revenue will thus, for short time, be
largely swollen; and In the next place, there will
be sudden suspension of orders for Eulo lopean
goods which will limit the demand for remittanees
to London and Paris. 1t will take at least two
months before the true results of total suppression
Of foreign trade will be properly felt; bu at that
time anot ner issue of $50 coo 900 Of paper will be
absolutely requisite, it will be at that date that
may look almost with cert anty for the solution of
the problem. Singing and shouting upon the cur
rent, with Mr. Chase at the helm, and no has
any idea of Niagara at the end. There is moi a
single publication OF any Influence in the country
which dsresto utter a preliminary warning.
TIE cosrkpERArEs sdrsfo BE eosauEREn.
From tie London Morning Post Ministerial |
II il supposed, however, that another battle has
been fought The recent defeat of the Federals at
Charleston Las led TO their evacuation OF James
Island ard the suspension Of the campaign in that
quarter.
However shocking il may be to reflect upon the
vast de sructicn Of human life in the late battle ut
Kichmond ssfill even In that fearful sacrifice We
herald the harbinger OF peace. Thinking men-
and there are many such in the Northern States
have long since seen the folly Of the enterprise In
which their Government has been engaged. But
such defeat as that sustained by the Federal arms
ut Richmond must 20 far to convince even the most
thaughtless that the attempt to subjugate the South
is futile This has not been one OF those battles
which tend only TO insme animoslty and excite the
yanauished to more valorous deedA This mas been
no Bull Run, which might be expected to rouss che
matfle of the conquered, and urge them IN very
shame to seek an early opportunity OF redeeming
their forfeited fame IL has rather besn--af least
we hope il may prove so--One Of those which,
distinguished for it, upsxampItd carnage, has
equally bssn % for having brought 70 = close ne
carnage of what might have proved long can