New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-08-21

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south Of the State Alabama is certainly seriously
threatened Chattanooga, the position on which Gen.
Rosrcranss army has advanced is advancing. hes ~
the mort east corner of the State between Alahini
and Georgia, and 1t is more probable that he wou'u
operate the West, where he might he joined ny III
advance Of Grants army from Vicksburg and JACKSON
than that he would advance unsupported INTO n'"i a.
Then il must be remembered that portion OF the rcu
era fleet in the Mississippi is now free Tor 1hp oPe
TONS and might he spared for an attack on Mopr. :
1t is stated indeed that Admiral Farragnts M'rt ~
preparing for an important expedition From an theSc
considerations it cannot be doubted thai me Ho may
have To meet an organized INVASION on Iho hn 80
into the heart Of the Southern States from tennessee
on the north Mississippi on the west ana pclnhPs
from Mobile or the Gulf Coast on the south III ooee
not appear present that they have the means 81 SUI
ccssfIly resisting such advance 1t Is ackhoW
by the Southern journals that the force under J"so"
will not he able Ia check the advance oi ten
and that il is probable that he will be able to e
innction with Gen RoSecrans The result OF su,n "
movement the southern journal c0niesses VIM i
the establishment of an army OF iooo'o men -" b
of Alabama Georgia. and If they como m II E
rositon il is felt that infcriOrity III the hiu Wo" w
the least ofhc consequent disasters 10 thc Soan ~,
If no battles were fought sdch loIoo ""a.' Ill; Tho
whole country. and DESTROY the crops "n" wiz n Wv
blockade is kept M the South cannot import sunc"h'
grain for its necessities II Is clear that c oou'cI
inrna Themselves feel that If such combined advance
NE Me- have ina Gated hy the forces of Gems. Banks
Grant and RosccIans can be made, would diNc the
Conf,dcracy 10 great cNtremtles
Eut the same Journals which make these admissions
how no SIGN of faltcring in determination to continue
the struggle to the last W it'll TIE same spirit when
has marked them al through the war they rally WIN
the Steiner resolution the more gloomy theif PROSE-,
become Ii the North thinks that the recent nntieS
have brought the war nearer to close ana tha' ;"
much boodshcd must have exhausted the 'oifcdcracy
they reply that they have only begun To night ana '
the terrible energy of the war hitherto Is nothing Z"
the fury with winch they will wage IL IN the iniuf,
They do shrink from the prospect OF worse blood
she'd than any that has vet tai place and they slight
The pitched battles which have vet been fought in com
parton OF the fields yet to come. At the worst t'i
can he but driven to guerrilla warfare ana 10 tue
rilla warfare they have determined 10 resort II ,hl'
armies should be driven from the open field ana dsln
tcgraiod and their Government forced 10 WANDER rom
point Ia point And IN case II should appear tIa' ',!
have no chance land against the vast hosts VIM INV
Nnrth NAV be- able 10 command they have begun
To organize q means of oilcnsc, and are pieaieh
H. he Nheuians of old To abandon the land and wage
an iuteInuabc warfare on the sea.
4 Nirginan Navy Company hhr been oicihi|'d' am
thr stock subscribed, by which the Coniedciacy WIZ
send ships 10 80 long as they own i"o'h"u on
southern soil and prey upon Northern commerce Win
ONT he chance of receiving any similar retaliation IL
must be- COME, ~cd that the South have hitherto gwen
little reason 10 doubt their ability and resolution To
make good this sort Of language. II can hardly per
hans h. truly said that the time after N" capture "l
Fort Donclson and the fall Of NcwOrcans wns more
gloomy time 10 the Confederacy than the present iof
the North has gained greater advantages since hct
perhaps there more temptation 10 give way nj the
first rush Of disaster than when all the energy and
enthusiasm of the people has been called out INTO iu
yiuor l,ut the South rose from that chamiious time
only 20 greater exerion and to struggles which almost
retrieved the former defeats 1t is not IT all impossible
that the! may do 10 now.
THE OTENING OF THE MISSISSIPPI AND THE COTTON
TRADE.
From The London Star Aug. s.
According 10 every sound prognosic the signs from
the West indicate not uncomfortable change iml"nd
ing in this commerce and monetary condition # The
country For two years now the largest branch o our
trade that with North America has been in one drcc
ton almost suspended and IN the other has undergone
a singular transnutaton We have continued 10 send
~ the United States considerable supplies II English
goods but greatly less in value and different In Kind
from our exports previously ON the other hama our
impolt, thence which chiefly Of cotton and corn.
have as respects the former almost ceased ne con
sequences have been various and a. regards me cotton
manufacture deplorabc Among these also has been -
constant course Of what is called soTahlc exchange
toward En- gland from New YORK
Unable 10 nay u as the wont. with raw cotton
for goods supplied. Tie Americans have been coIin
uously sending us gold 10 square the account hehoo
our wealth in the precious metals ,a tue recent grow
1 ing desire find safe and profitable investments AZ
the time. the peculiar state 81 the cotton trade
and N dubious have given to unprecedented
speculation NJ Liverpool, where most 4 the dealers
hye heer holding II not for gradual advance in pri
ces ~ least for continuance OF high rates In these
/ WAYS ~ well as by depTlNiDg from iVDVh 10 JlpD
I Lancashire operatives Of employment and Al least
e2OOcOO pO II cotton manufacturing plant # profits
he's the in the United states affected The operations
Of trade in this country. For two years the question
which capitalists and business men have been asking
ihensclscs j. How hong will II lat. To thi- question
II j. not surprising that could give satisfactory
answer Tie had been carried on with p" much
apparent equality Il strength Ia attack ana defense
4 An Is
continue II while resources should last that there "as
nothing for IL but 20 wait and watch.
/ II would seem now. however that the first stage %
the war las been trayerscd. The result j. maj ked
success 10 the Federal Government o. which lido the
ultimate may lie OF hat the nature Of II, are
inquiries which IL Is unnecessary We should her" enter
upon II j. not the dciat and critical position OF Lee
and the tramsfercnce Of danger from Washington again
10 Richmond that regard; 80 far a. our argn-
nc' is ned The Federal successes IN thu quarter
do not Immediately alter the position. Their moral
now concerns our purpose the material gains
acgnired IN the Valley Of the Mississippi The surren.
der 81 Ncksburg ana Pot Hudson. added 10 the pos
session Of NewOflcans opens up for unob,uucied eX'
port all the stocks Of cotton IN The great producing
Siotcs Of Mississippi, Louisiana. and Texas.
From :, Louis 10 the mouth Of the Mississippi there
j. now absolutely nothing TO prevent constant success
sion Of coo laden steamers passing oui 70 tie ocean.
Charleston il IS true. and Mobile which are the natu.
raj outlets OF the produce Of the Caronas, Georgia and
Alabama. are sl sealed up Sangune hopes are mad
missile ~ business calculations and We do not predict
the immediate capture Of either Mobile ofCharlc'on,
although Federal successes IN ho-" quarters seem Just
now probable enough Should these places fall. how.
The entire Of the cotton producing dircis Of
the south viii be opea aud tie CONGREGATIONS which
may be reasonably and prudentaly founded upon the
I actual opening 81 the Mississippi will be douhly
strengi honed Now what these considerato ions (,
They may be thus succincty stated There man!
million bale, Of cotton in the states Of Mississippi Lou
isiana Texas. Arkansas. and Tennessee absolutely Of
10 value 20 tlcir owners, ~ long az II lies where 1t To-
J but which Is worth %. pei pound IN Liverpool
Under the protection Of the Federal navy and armies
Grant and Bankss forces now disengaged, and
have Only before them the task Of protecting the oper
atoms OF industry and trade in those districts and Of
preserving that law and order which conducc to the
free play Of Union fce.ng-uncer this protection. and
| with these guarantees. does any one for moment
doubt what the Of the planters who possess ths
cotton will be- They have been impoverished wofuly
by the war; their slaves by the number OF which they
used to reckon their wealth have 10 some extent been
freed and 10 large extent have lost their money yanc
! Right glad will these men be in prospect Of being
able, BY the export OF hc accumulated cotton crops OF
81 and go 10 rccoup their losses AS 10 the quantity Of
cotton dspOsabc there may be different estimates
but on the lowest calculation must be considerable
In the States drained by the Mississippi and s CON
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