Year: 1861


ton of the Union are merely matters Of
conjecture, at best, and will never be GER
tainly known unless such deplorable event
should actually occur. That 1t would be
more or less injurious to the industrial In
terests of every section, and benefit none, is
admitted by every person who calmly re-
fleets upon the present agitation throughout
the country. 1t has frequently been said,
and reiterated over and over again, that
the secession of the cotton States would
produce immediate and terrible disasters in
the manufacturing districts Of the North.
But the facts do not sustain this supposition'
In consequence of the conflicting state
ments we canuot arrive at a correct con-
clusion as to the extent Of injury to manu-
facturers; but it is evident that the seces-
sion agitation has thus far been mainly felt
by the monied and trading classes, while as
yet 1t has scarcely reached the laboring peo-
pie at the North. On this subject, the Bos-
ton correspondent of the Union says:


The commercial difficulties Of the crisis bear
hard upon the prosperity Of all classes in this
section. Thousands of mechanics and opera
tives have been thrown out Of employment du-
ring the last month, and the worst is appar-
emily vet to come. Some Of our large manu-
factories have suspended operations, and near
ly all the others are running on half-time.
Stocks and real estate have gone down to an
alarming rate of depreciation, and are still ap-
proximating GLOVER deep"


In relation to the same matter. the Wash
ington correspondent of the Bulletin says:


Northern manufacturers are not all alarmed
by the threatened non-intercourse laws Of the
cotton States. The evidences are already abun-
dant that they do not err in scouting the power
Of any section to reverse the inexorable laws Of
trade. Instead Of being unable to buy their raw
cotton, since the planters resolved to hold 1t
back they are now obtaining all they want
| for their winters use through their southern
| brokers, at rates two cents per pound lower
than they could get it thirty days ago. From
this fact it results, that New England cotton
factories, which, prior to the panic, in conse-
quence of the high price OF cotton, were about
TO suspend operations for a season, have deter
mined to keep ON all winter working on full
time, because they can get cotton cheap!


The statements of these correspondents it
will be observed, are Numerically opposite,
and we can only account for the difference
by supposing that one was anxious to make
! the effects Of the secession troubles appear
in the most unfavogable light, and the 9TH
er in the best The manufacturing interests
have undoubtedly been njuriously affected,
in common with every other industrial pur-
suit, but not to the extent stated by the
Unions correspondent. 1t Is estimated that
one-.wenteth of the goods manufactured in
New England are consumed in the South,
and even temporary cessation of orders
for these goods would Of necessity throw
out of employment quite number Of oper-
atives, who would be compelled to seek en-
ployment in other avocalions.


The most marked effect Of the agitation
in the South is the great reduction in the
price of negroes-amounting, according to
estimates of Southern papers. to nearly one
half. The secession from the Union of a
portion, or all, of the slave-holding States
would he the most disastrous blow to the
institution of slavery that could possibly be
inflicted. Slave owners and monied men
are we'll aware of this; hence the decline 10
this species of property. Should the Con-
ventions soon to be held in the gulf States
decide against secession, slave property will
Immediately go up to nearly its value be-
fore the election; but if they decide in favor
of secession there will be still further de-
cline, and by the time they fairly get out of
the Union niggers will be so cheap that
even the poorer and more ignorant classes
at the South will cease to clamor for any
more Importation of the original stock from
Africa.


DEATH ny A Snow SLIDg--The Hydraulic
presa learns that Albert Tabor was crushed 10