Year: 1861

The last Day Book we have seen says: All New York is failing" 1his IS pregnant fact That mammoth city mas been built up by commerce and the peace ful fruits of trade The South has poured into her lap the profits of her planters and while cotton was king, New York city was the favored store house of the mighty po- tentate. But he has fallen out with hIs old love, and never again will the metro politan city of the confederacy winch has just passed away, sway the sceptre ot south ern commerce and monetary greatneSs.- The revolutionary volcano which has over turned the Union of our fathers, has changed the ocean currents of trade. At the same time that the southern States vindicated their rights and asserted their political freedom, the spirit of free trade declared their commercial independence of those rich satrapies of New York. When oar northern brethren were reminded of this they laughed at the idea of secession, and while many, SO late as the last presidential election, bore witness to the wrongs Of the South, and while New York city by a large majority in favor of the fusion ticket placed the seal of disapprobation on the policy and pretensions of the republican party, still it was believed that commercial bonds had enslaved the South and merchant princes smiled complacently at our prostration, and the prospect of high tariffs and large pro- fits at the expense of the cotton growing States In the midst of this fancied secu rity the storm burst upon them. The South breathes free once more.

 But not only has southern commerce been cut off The war which has been so ma lignantly and unjusti6ably inaugurated by the present administration, has deprived the eastern cities of that heavy north western trade, which almost rivalled the IISouth in lavish profusion, and made New York the granary of the world. Trade of | der then at the sudden change in sentiment in the last few months. This great city which boiled heavy majority against Lin coln, is now the stronghold of his power, and the rail-splitter who was sneered at for his backwood's verdancy is now lionized by the aristocracy, the fungus growth of southern commerce, and the pampered min ions of southern liberality. We have touched their pockets, and they have thrown off the hollow disguise of pretended friend ship for the South, and forgotten their affected disgust for the low-bred creature of fanaticsm that popular favor has placed ill power as a monument of deep-seated in sanity and incurable madness.

 Well be it so. The South is free com mercially and politically. We have com- ted the cost of the war. According to the estimate of the New York Herald, the South by secession has rid herself of an incumbrance of sixty millions, about the proportion she would have been compelled to pay of the public debt. This will pay the first installment of the war. In addi- tion to this view of the matter the north ern States owe STA ,000,0 ,000, while the seeded States only owe, about S2O, OO0,- 900. The wealthy portion of the North is dependent on trade and the accommodations of a peaceful commerce. Our wealth is not so unsuustantial Northern manufac turers may send away their hireings, but if they do, they will leave behind them dead capital in the shape of decaylng and dilapidated factories. It will thus be seen that while we labor under many difficulties, compared with the North we have fewer barriers to overcome at the threshold. A gallant soldiery and the real sinews of war are ours, and if we accomplish nothing more we will conquer permanent peace and train up race of heroes. Financially we have more to gain and less to loose than our enemies, and fighting as we do for the everlasting principles of truth and justice who is fearful of the result?

 Eg- The ladies with patriotic arder are still struggling to sustain "The National Washington Monument Society,"" They