Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-01-01

and do their duty.
CHRISTMAS passed over here yesterday with more
than its accustomed quietness but hardly think that
this was due to any unusual depression in the public
mind. So fer as we could judge, the people of town
ielt more confident of the success Of their cause and
more hopeful of an early termination of the than
they he'd done at any time since the outbreak of host
tiles We confess that judgment aBsented to the feel
ing We may be mistaken, but we most honestly be-
lieve that the backbone of this war is broken and that
the Christmas of 1863 will find the Confederate States
people at peace and recognized by the nations of the
world without the exception of the despotism
presided over by Mr. Lincoln
Only Journal, 26th inst
The question of the guarantee of the bonds of the
Conlederacy by the individual States is now the most
important matter that engages the attention of the
Southern people, the progress of the itself not
cepted, the is SO closely bound up with the
otherthe finances of the country essential to
the military success Of the Government that unless
Is maintained in healthy condition the other will be
likely soon to fail.
The initiation Of prices is due less to exoron or even
to defective supply than it is to the redundancy of the
circulation. If instead of three hundred millions of
currency had one hundred millions there would be
Of life
But how is the circulation to be reduced? To this
the most obvious answer would be-By funding the
Confederate debt-changIng Confederate notes into
bonds. But people will no. DO SO with sufficient speed
to relieve the existing pressure unless sufficient in
ducement is offered As an Investment State bonds are
preferred to Confederate for reasons which will be
readily understood. The State is integer-a SOW
Conederacy may be broken up. Let the separate
States each guarantee their quota of Confederate bonds
and not guarantee circulation over certain amount
and the volume Of currency will be reduced by the
withdrawal of notes and their exchange into bonds
i FRIEND sends copy OF Lloyd5 Weekly " News
paper" London paper of tie date of the 10th Of No
yember. It was picked up on the battle field near
Fredericksburg. Il is edited by Blanchard Jerrold,
son of the celebrated Douglas Jerrod. OF course its
news has been anticipated, but we make the suboined
extract as indicating the tone Of of the leading Or
CANS of English commercial opinion
From Moyd's Weekly Newspaper.
The reports which have circulated during the week Just
closed subsanate the assertion first
Morning Herald that France and Russia have offered to
intervene between the north and south in conjunction wi
Eng The speech which Lord Palmerston delivered
the Mansion House Monday leaves little hope for the
friends of the south We want the cotton Heaven knows
and suspension Of hostes for six months would enable
the south to warehouses-but what would hap
pen afterwards! An armsce that gave strength to tie
SOUTH would provoke her to subbornuess She would not
yield point to the north On The other hand the north
likely sent to suspension of hosities for
months, and 10 the raising OF the blockade for the
same period. 1T the expiration of the armist'ce,
her opponents would be ten times stronger than
she is whereas, the moth at this moment com
nands the situation as regards Europe If we could stay
the boodshed-f we could save lfe-by intervention we
should be bound 30 make with France and
Russia. The consequences of differentiation are unfor
tunately still so misty, that it cannot be reasonably
serted justified in entering the fog. If France and
Russia believe that they will be successful medators
let them make the attempt. The world will thank them
should they succeed but there is why should
interfere, before way the establishment
of peace between cousins who waging the |
most blood thirsty and horrible Of modern times.
List OF Casualties In nuntinSs Eattsry during the