The New York herald., 1862-11-08
THE AMERICAN WAR.

The Proposed Rebel Cotton Trade with
Englm nd-Douhts or the ProHts-News-
paper Opinions or the Resources or the
North-The British W0rkmcn Friends
or the Union-Advance i'm the Rate of
Insurance ON American Vessels, dc.
The London Times city arclel referring TO the resol
ticn contemplated by tho Confederate government to
collect million bales Of cotton and sell them IN Europe,
subject to all contingencies the date which they
be shipped says is not without importance Should
the resolution be passed there probably many
Iators who might to tempted into such speculation,
provided the margin Of profit offered very large The
writer suggests that perhaps the Confederate by means
If the Orcto and other vessels hope break up the
blockade Of Charleston other ports during tho winter
The London Ness thinks the federal has never
before looked like In its essential features
The South s almost at the last stage Of exhaustion while
the North is nearly untouched in all It's resources AL
that European nations nave 10 do is wait The event
must be decided by other influences than those.
The London Times, Of course, takes directly the Oppo
site view, and says--More important than news O.
battles the fact that New York money has at last be
gan to feel really the dangers which threatehe country
with not single Confederate State conquered likely
be; with not cent yet levied by direct taxation at the
North with Immense host Of recruits be paid
their bounty armed, clothed and supported with ct
gaptc Of materials TO provide for another invasion
from third in value. Although, probably, no invasion
of Pcnnsyva large scale is intended fresh raid
across the lotomac mprcsses The federas with ccnvc
tln that their enemy is full Of spirit The
article then cxpatates the ntermnab,e and nccsve
nature or the battles In the West
The Liverpool correspondent Of the London Times Mr.
Spencer again urges mediation recognition, the
ground that Europe cannot remain caous either Ia the
suffering there the horrors impending elsewhere lie
tua butchery and that England may then be driven
take up arms to end such outrage civilization.
The London Necs points 10 Summers speech at Boston
and its reception as rcfutaion Of the London Times
that the emancipation scheme would be rcpu
dated II dcnounccs the scandaous charges which have
been brought against the author and abetors Of the
scheme.
At public meeting at Oldham resolutions oeered
calling the government TO recognize the independence
Of the Confederate States the only of ending
tho civil war. An amendment offered declaring that
recognition was impcc, end likely % rssuu "a 'qis
scith the North. After warm debate, and urrcarious
prooccdings tho original motion declared carried
although the meeting was about equally divided
The destruction OF American ships by the pirate Ala
bama caused general advance the rates or insurance
at Iloyds OF 2a3 per cent On all american ships The
advance demanded at Liverpool is as high az Se
guincos per cent.
Is stated that NM. Perslgny and foud consentea "
rcman in the French Cabinet the Emperor having as
sarcd them that there is nothing rcaconary in bis pre-
sent policy respecting ay but that be declined 70 ,ase
any hurried step With regard 10 Rome.
The Council Of State had resumed its sittings.
The Bourse was nrmer. Rentss on the 2zd uItimo sd
vanced 10 7lf. SOC.
British Council was TO be he'd al Lcndon the day the
steamer left Liverpool.
Sir BENZ min rodic, distinguished surgeon, died AZ
bis seat 10 Surrey on the 2ist uitmo.
The alarming accounts OF Garbadi's health continued
u was rumored In Paris that be dead. Turin
telegram Of the 22d u however, says that he had been
removed TO spezza, and bore the removal we'll The
state Of his health slshty improved, bu, the papers
ssti!i express much apprehension.
The 22d ut being the anniversary Of the union Of the
Southern roviuces 70 italy celebrated by fe,es in
oil the principal towns Various popular rsjocngs
place. Perfect order was maintained