Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1863-09-24


the view that appears TO he taken o. it by the
shrewd stock joopets Of Wall street. Simui.
| taneously with the. appearance OF the letter
there IS a sudden rise III the price of gold and
corresponding fall in the price OF railroad
stocks. This letter did not produce al, the eft
| feet !; bot IL was the last feather which broke
the canie.'s back. 1t gave the finishing blow
to confidence already shaken by the military
and pava 'mlsmanaS cement Of the war-the
present general inactivity Of fnrces--the
political misconduct of Congress and the Cab-
| net in adopting series of absurd measures,
which have united the South, and neryed it to
the most desperate resistance, while Mr.. Chase
comes forward and demands from the bank
ers and merchants Of New York aoLther
loan of fifty millions. To cap the climax Mr..
Lincoiu's letter, which now first the light,
holds cut no hope Of any termination Of the
war, This letter ln the frst inst ance ad-
dressed 20 political body IN Springfield, ll-
noise; but it was intended an exposition to
the whoe country Of MIR. Lncoin's view Of the
past, the present aud the tuture OF the war. tie
Is the highest authority on the subject, ano
when he says he can see no end to The conflict.
the announcement becomes OF the most serious
nature. The nlnne yed interests take the alarm,
and they naturally exctAim: NV here IS all
this to end % Already We have expended hf'
teen hundred mil.iuas--halt as mnch IN two
years a. England .asished upon her great war
of 90 years to crush the French republic and
The Napoleon dynasty. At the end Of another
wear the expenditure wili have fully equatled
that of the British Government during lis gigan
TIC struggle with Franco, extending over Two
decades. When men who held railroad stocks
aud United States stocks ponoer over these-
things it is hot to be wondered at il they show
symptoms Of uneasiness aud prefer gold to pa
THUS the loss of confidence spreads on every
side Til at last it becomes panic. 1t IS the
. ~ 81 in which the future policy Of the admins
trasiun is involved, and the uncertainty as to
the end ofttbe war. which undermine the fnsn
c,al stab i,..y of the government. Had the
war been Lushed forward with vigor ard sue
cess, and had not impassabe obstractons been
placed in the way Of the return of the Southern
States to the Union, there would be very little
danger of the public credit being impai red
But let the present unsatisfactory state OF
things continue for little louger, and it will
ne very difficult TO prevent universal financial
crash. The only possible preventive indeed,
Is another letter from ths President, addressed
TO Horace Greedy, or somebody, in which, at
Ter consulting the spirits in circle, including
Robert Dale Oven, Andrew Jackson DAVIS
and Artemas Ward, he will positively an
noun ce the end of'the war within some dehEite
period The operations Of commerce and Imam
ce will then regulate themselves accordingly
ard public confidence will be recastated.
From the Richmond Enquirer, 10th inst.
We can add nothing to the comments of the
Herald and the World. They must be reas
by Confederates the premonitory sy ymptor1a
of an improving condition in the situation, as
indications given out by the enemy that we are
not regard ed as defunct belgeren:, but that
on the contrary, they in great trepidation
lest Lee shoaid again take the war path
through Pennsy lvania as the best road to
peace. 5t t.
The war barometer, Wall street, has fallen
'sstocks are tumbling," and gold is rising. In
an article on the recent stock panic, the Herald,
remark t-
"The market has been very feverish lately
and shrewd observers predicted tnat the slight
est cause would create a panic. President LIN.
coins letter, apouucing that the war would be
interminable and ruu,ors that Lee was collects
inc an army of 5000 men to take Washing
ton, came Just IN time to assist in upsettiDg
the narke -ste4.5.ee r aa. .stsEs ,s< lie
TIE Herald says safairs at Charleston 60 o.
slo VII and History limps little IN Tennessee,
and asks, "Why must We expectY 1t rep:1es
to its own question, that Lee with l5O,OOO
men drawn from Tennessee and Charleston will
soon advance for the capture of Washington
and Baltimore. That the gallant army OF the
~, n A. hoxyo fr o,,t IN fbos rAf