New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-20

leeted, was undertaken under the absolute
rule Of Gen Butler.
/ These reeollectons awaken in us, naturally,
q most melancholy train OF reflections, and,
notwithstanding, we would gladly suppress all
such thoughts, still we think it is better for a
fair understanding, that sometimes the unpalat-
able truth should DO spoken, and the real SEN
timents of the South be made known to the
country at large, Although New Orleans has
not been the immediate battle ground of the
contending parties, still the peeuniary losses,
and the sacrifice imposed upon our population
with regard to moral feelings, have been such
that it will take long years to obliterate entirely
these recollectons. Whilst these are our
views, we cannot conceal another consequence
which naturally will follow in the train of the
altered relations Of our country since the
great conflict between the North and the South:
and this consequence or the wholly altered
position of our Southern population, will only
develop itself after some time, and as we doubt
not, to the utter establishment of the people
in the northern section of the Union. Aye,
people there will be amazed to find that by
the emancipation Of the former slave popula-
ton, they have actually established the virtual
independence and separation of the South.
This assertion may sound strange, but the
fact is no less apparent and palpable. For it
was exactly that condition Of slavery of the
agricultural labor hands, which kept the
Southern States in perpetual condition of
subordination and dependence upon the
Northern capital States Our rich planters
were actually the debtors Of the Northern
tnaneiers and their annual surplus earnings
were continually reinvested in slave capital.
so that it may well be said that ali the active
capital belonged to the Northern portion Of
our Union. How will it be in future CROPS
made in the South henceforward will belong
to the actual producers and there being no
longer any OUTLAWS for the investment in slave
capital il follows that there will be no longer
any dependence on Northern capital and ad-
vanees Under this view an entirely new
state Of affairs will take place, and the oonse-
qnences are so vast that they can really not
yet be surveyed by any human eye. Nay, it
seems to us, that very likely another consez
quence may flow from this altered relation of
the South, and that is, that its interests will
be found in the advocacy of a system of polit-
icai ethics that may come in direct conflict
with the most conservative interests of the
North .....-
However, time must be left to develop these
consequences For the present we may al
ready perceive in the great activity displayed
in our metropolis that the public is fully
aware of the new dawning era upon Southern
prosperity and Southern actual or virtual in
dependence, whatever outward appearances
may lead some people to suppose that the
South will be laboring under a system of Or
gained subsection, whilst not looking deeper
into the under-current of affairs. Nothing is
more certain than that people actually free
from foreign debt is Independent in its home
movement, and, therefore, we may well say
that the South, having annihilated its own
Indebtedness, is assured by the most indie
pendent population Of the world. The North
has not seen this inevitable consequence. else
a quite different course of policy would have
been pursued towards the Southern portion of
the Union As it is, we may expect the most
glorious prospects for the environs of our
city-nay even already symptoms are showing
the estimation in which our situation is held
by knowing mercantile spirits, and before
long the immense results of the late liberatipo
process will become all patent and self-evi-
dent.