Year: 1861

Whether to superior generalship, or discipline. or
pluck to greater patriotism or enthusiasm or TO what
ever else may be attributed there be no doubt Of
the fact that hitherto the baauoe Of success has been
with the South This the place to discuss the why
or the wherefore. Viewing the war and its consequen
from commercial point Of sight, the TACT alone at


tracts attention and cannot but regard i as one
of immense importance removing, as we think 1t does
the prospects Of peace from the proxmate to the distant
future. Were It otherwise the balance OF success
ever 60 little in favor Of the North, might perhaps
have hoped thai the Federal Government conscious Of
strength to crush the South but at the same time ad
monshed OF its liability to retain military possession OF
II for any heightened period, would have proposed an
amisce for the purpose of negotiating treaty OF peace
With the Confederate General As to the capture OF
Fort Haters that insignificant item against all the
rcverses Of the North The disgrace Of ne batue Of
BuleIluu would not be expupged by the Success OF
score OF naval expeditions undertaken against
power without any navy whatever. The success
Of every expedition Of this kind may be pred
Gated with certainty. But what Of that! What
II Mobile, and New Orleans and Galveston
were in possession Of tho North now would
such On occupation influence the fortunes OF
the war Every way, say some wisescrcs,
these ports would then be opened to the commerce OF
the world, and the Cotton crop would be shipped to
Europe. Ay, rdeedl We, in our simplicity, supposed
that il was the North who had blocksded these ports
10 prevent e shipment of The cotton which would have
supplied to the South the sinews Of war; Oa but the
object to take the cotton by force and apply the pro-
ceeds Of its sale to the conquest OF its owners What
an ingenious devicel II it were only pracdcable, 1t
would, no doubt, be master stroke Of policy But the
cotton is not at the ports, will il be while the war
lass Long before the maturity Of any portion oil the
CROP |. resolved that il should be kept at the plant
aors There it Ia being put into sheds without being
baled or even gnned-stowed away in the secd-so that
at the approach Of an invading force, match might be
promptly and ,caciousy applied, to prevent its falling
into theshands OF the enemy. The expeditions against
the cotton pors whether successful not are not there
fore likely materially 10 benefit the North, and cannot
restore to il the balance OF military success which, up
10 The last advces from New York. was unquestionaby
With the South. If the Federal Government be des-
rous Of beratpg the cotton for the benefit Of the
World all they have to do is 70 raise the blockade aud
thencelorth our supply OF cotton will ouy be limited by
the extent of the crop. We really ashamed to be
compelled to treat seriously such absurd speculatons
Is rHx UNION WORTH FIoHTISG FOR.


To the North most assuredly il is Toe material pros
psrty Of the Northern States is bound up with the
maintenance of the Union. With lis fna dissolution
their glory departs Without the Union their prohibto
ry tariff will be the instrument Of their speedy anuihia-
tioa as a commercial nation. They have more far more
10 lose than the Southern States have 10 gain by the
dissolution of the Union The interests involved in its
pr ryaon are so that the Secretary OF State OF
the Federal Government speaks OF II in official doeu
uent issued SO recently the 2lst umo from the do.
oarment of State, Washington, 'the chief hope OF
hum lnity in all countries and for all ages Exaygera
ted as this sentiment is the source from which II 'mt
naes gives significance IL proves that the Govern
ment OF President Lincoln feel and know that the pre-
seryltion Of tho Union is question Of overwhelming
importance TO the Northern Sta,es-that 1t Is worth
fighting for-sorh maintaining, or trying to main
ala at almost any sacrifices OF blood and treasure
even with the knowledge that every sacrifice will be fu


le and that the chasm which now separates the North
arm from the Southern States has grown go deep AID


wide that il will never be spsnned by the magni fl
cent bridge OF the old Federal Union.


The North must learn the art OF war; must crea!e
an army aud navy such il possessed since the
dme of Washington ard If it fight for nothing else it
must hepcecrth fight for its national exstence,-or
we're Il TO yeild ingoriousy now, and acknowledge the
Confederate states without proving that sec ssson can
aot be attempted with imp unity and that all is streng
would be put forth TO crush it. there would DO no end oi
secession movements until several independent nations
uih ;nersss hostile each other had grown out OF the
once great United States.


Yes the Union is worth fighting for, though We are
thoroughly satisfied that il cannot be restored The
m vnitude of the loss which the North will sustain by s
dissolution surpasses that OF the gain which secession
will bring to the South. But both are great and the
vastness obds hope for early cessation OF hos
ti,s It's too probable that the war will be continued,
we will say for years, but for many months TO come
whatever great battles may be lost and won 10 the inter-
val by either side In the end however the balance Of
mill ay success may be with the North though fail to
reconstruct the broken bridge the reconstruction OF
which was the object Of the North.


| WHAT ARE THE PROSPECTS or rEAcH


What then are the prospects of peace, While the bal
ancc of decidedly In favor OF the South?-
Il must be confessed that they are both dim aud distant
We sec from the fact that the planters arc slowing
away their crops in the seed their plantations, that
the South is fully prepared for the occupation OF It's
ports by the Fedsrass and that the expectation is
general that the will be long one. The Times
says--"Fron the stray facts which reach US from the
South t would appear tha. there is no intention oil
/ I'D 1ha Narfh nm
the most favorable terms for slavery would be rjeced
by the obstinate which obeys Jsfsrson Davis =
We came 10 this conclusion long ago. aud we are still
of opinion for the which We have go often sta
ted that the South will resist 10 the death, that II VIII
not voluntarily re-enter the Union, and that even
in the Ia the improbable contingency Of It's being sub
dued after long and sGnguinary war, the North
could never hold it as O Conquered nation. We DO
not believe either that be s1bdaed by force OF
arms or that it will die OF atrophy ls internal Ie'onr-
ces are within our knowledge capable oil enabling Its
popr ion carry the war; however long II lasts un'
Ill they have completely conquered their Independence.
It IT, therefore sheer nonsense to talk OF the approoeh
inn eolcpe of hs S,ulhsrn Rebellion Gs some Of our
contemporaries d. who could be persuaded that
there was anv vitality In the South, or tia its 1ss MI


ions Of inhabitants could hold their own sgans the de-
tsrmiued viii Of the Tp,niy Millions Of the North. They
will do so nevertheless The South Is stronger in its
right than the North in S might and hence it Is, that
40 far In the progress of the the balance OF success
| remains with the former
| COTTON SUPPLY.


Before these remarks meet the publc eye, the stock
OF American Cotton here will be reduced to about $50
400 baes This would be Of comparatively little conse
ousnce il We knew that large crop had been grown in
America, and that the greater portion Of would fnd
it vay here as in former years But IL is Of startling
importance when, as crediby informed the pre-
sent crop of America is likely to be very short one
aud In the face of the fact tia. not single bale OF
| 4. hal voft tha no will do "a
during the continuance of war whose termination can
not be focsesn by the most farsighted politicians


As the year rolls on this Cotton supply question for
ses itself more and upon attention. and though
for many months past we saw the approaching evil while
many Of our contemporaries iculed our sars, we real


y stand aghast at the terrible reality of dearth Of Cot
ton which Is confronting us. When the stock o.


American ia brought down to 100000 baIes as we ies


t will be in less than six weeks then prices OF that dee


cription OF Cotton will DO fosced 20 point which WI
mp,l spinners either enormously TO curta their consumP
terain 80 strong o pfudice. We are convinced tnat