The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1862-03-12
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WEDNESDAY, nOKt q .:MARCH u, irss
EssissS esd II. H,eekalh.
Frenchmen fight for glory, rpgliSkmsn fol
gain England win nat recognise ctr JAae
Pendencc or raise the blockade until it Is her
interest soto do. At present, there are ssve.
raj strong reasons why she does not intervene
Her citizens own Northern stocks and eecuri
t'ss for debt to the amount Of eight hundred
millions Of dollars. All this would be lost il
she interfered in American = aMairs and declared
the blockade inefficient. Although shs does
not fear the North, and in full consciousness
OF strength listens with contemptuous silence
to Yankee insults, threats, and braggadocios,
yet she knows that Northern privateers would,
IA the event of war, seriously disturb her
trade and that is too great and valuable an
interest to he Impaired or jeopardsd il it can
be honor.oly avoided
She wishes to encourage the production Of
cotton in India and her other Southern de-.
tendencies. The blockade will effect this OBJ
ject far better tnan any other measure.-
There 10 abundant cotton grown in In-
Tia Sn1 o.h-r rarss OF Southern Asia TO sup
ply all hsr demafsd. shs hes only TO give
moro for it than the Asiatios win sive
at home, and she is sure to procure it. The
advancement Of price occasioned by the In
creased demand would not, probably, enhance
tbs scst Of her annual supply hundred mil.
Hons of dollars At this rate, BY supplying
herself ftom India and avoiding war with the
North, She might podsibly, in twelve month,
save seven hundred millions of do11srs; siruu
late the growth of cotton in her protiuces,
and become partially (save a modicum of our
long staple to blend with the Asiatic) indepeu.
dent of the South for her usual annual supply.
Besides, from the Queen downwards, the
kbo'iticr fssling, prejudice and influence in
the present rta'ns rarty coordination in
England, 10 very powerful, and .he Govern.
mont hesitates to take part with shareholders.
however Just their cause.
OF course, England il too sagacious not to
see that she has vast interest in the CON-
Asrce and carrying trade of the South and
chs wiEsS shspe her policy doubtless, as to pre-
vent, if possible, any osher nation from getting
the advantage of her in the rsrt,cipetion In
that trade and commerce. But just at Chs
time such is the magnitude Of the existing al
liances with the North that she pauses to CO.
quette for time with her own interests in
order TO get the benefit she may derive fro m
delay and the developments that are rapidly
taking place. Should she even desire the
permanent separation of the old Union, a.
che, no doubt, does most heartily, she may yet
conceive that the situation of affairs favora.
bic to her interests will be much improved BY
the exhaustion and bankruptcy of the Federal
Government. But this view opens an exten-
sire line Of reflection for the mind, for which
We have not space In this article.
OF late years France and ENGLAND act in
most singular and suspicious concert; and il
is to be presumed that France will not inter.
vene in our behalf until England is ready to
follow her lead. Notwithstanding tha. It is
very evident Louis Napoleon is our friend, and
desires to inaugurate an active policy affecting
our relations and interests very promptly, it
is the ,,ndoubted policy of France to co-ope-
rate with England and TO. !, ~, Without her
concurrence.
Let us dismiss, then, all expectation of for
eign aid, and calmly inquire what injary, If
any, We have sustained, or may hereafter
sustain, from the blockade.
1t is at once obvious that this measure oi
the North compels her to dffase her naval
force along a coast of several thousand miles
and prevents q concentration of that force in
81 stack against any of our seaboard cities
But for the blockade, it is quite possible tha,
~ combining her whole n1.!el strength, and
directing il agaias:: single point, sh6 -.ssht
take, one after another, all OF Cur seaboard
towns. We think that Norfolk, Richmond,
Charleston, Savannah, Mobile, and New Or
leans, ows their security thus far to this very
blockade. Besides, IL enormously increases
the war expenses of the North, and 1t is the
rapidly increasing and intolsrable burden OF
etrength-and 30 end the war.
Again, the blockade Ia fast making US a
manufacturing people, 60 far as the imple.
rents 81 war and hecessaries Of life are con.
cernsa ana to taa. extent only do we care
about becoming ieanHfaetur3ng people. IN
dependence Of foreign nations foi "a. Supplies
necessary in times Of war, should be attained
in some way !; and nothing will so sffectually
teach y what Is needed for this purpose, and
how we shall manuMetdrs and produce it, az
this blockade.
Confederate money or notes and Confeder-
ate bonds are now ,.as currency, as good a.
gold and silver. Gold and silver have ceased
to be currency, and be ome a marketable
commodity, but Confederate notes pass as free
ly and purchase as much, agreeable to theil
determination. as would Q metallic currency
This is evidenced b; the prizes of grain, which
is selling at ordinary prices. The higher prices
Of other things is owing to their scarcity, moi
to the depreciation of our paper currency
Could nation be wholly excluded from al
trade and intercourse with all other peoples, il
might maksfjN paper Issues of its Government,
money for all purposes, and wholly exclude 9
metallic currency. So long as the blockad.
continues, we are in this situation, but when i
ends, our pecuniary difficulties will begin fol
Confederate paper will not answer for foreign
trade. The removal of the blockade, there
| fore, may produce serious national embarraes
ments, which nothing but our valuable staples
could prevent from reaching the extreme o
national bankruptcy. II would be hard for
bankrupt governme mt to carry on q war. Th'
truth Of our theory is about to be tests in th'
North. We predict that their foreign trade
which requires gold and silver, viii destroy