The New York Herald Newspaper, November 12, 1860, Page 4

4 NEW YORK HERALD. JANES GORDON BENNETT, E01TOR AND PROPRIETOR orric N. W. CORNER OF FULTON AND NASSAT STS. 1905, cas) én aadoance. Money sont by mati rhi? be ct ts Pick Of tha sander. Postage stumps not receioed us vubocription “Vale vary ARALD two conts 1, 87 per an ; es eamnecn, cheapness and JOB PRINT! = 2 3 |; 3 1 2S 5 Broadway, opposite Boad street.— Bowery.—Sraupinc & Rogers WINTER GA Bomso ano Ju BOWERY THEATRE Egussiaias Taoe ACK’S THEATRE Broadway.—Puarixc Wira | 2A KEENE’S THEATRE, No. 68 Broadway.—Puy. LAC a a Paving. NEW BOWERY THEATKS, Bowery. -Housrsuoe Zon tysow=—Motaen Goose—Bix Deuren or Cans, | ra | ‘es st UM, Mrroadway.—D —Livina Gunrosities, Ac. BRYANTS MINSTRELS, Mechanles’ Hall, 72 Bro .away.— Byauesgses, Sonos, Dasons, &o.—Usxn Ur, YS SALOON, Brondway.—Mooury & Cavrnru’s aid is Aronia BoxGs, Danons, BunLesais, &e.— | s Duouwes | CONCERT SALOON, 66% | rondway.— mLRSATES, 0, | New Work, Monday, November 12, 1860, MAILS FOR THE PACIFIC. New tork Herald—Callfornia Edition. The mau steamship Northern Light, Capt. Tiaklepaugh, {leave this port to-day, at noon, for Aspinwall. | ne ma.ls for California and other parts of the Pacific will cloae at tem o'clock this morning. New Yore Weexiy Henatp—California edition »g the latest intelligence from all parts of the wth a large quantity of local and miscellaneous ished at nine o'clock in the morning. rappers, ready for mailing, six cents, | s will please send in their ordors as carly as pos- MAILS FOR EUROP!. Whe New York Herald—-Edltion for Europe. | The Cvnard mat! steamship Europa, Capt. Leitch, will eave Boston, on Wedne: , for Liverpool. | ‘The mais for Europe will close im this elty to-morrow #fternoon at a quarter past one o'clock to go by railroad, ‘and at aquarter to three o'clock to go by steamboat. T 2oveax Ep:tiox oy rie Hagar will be published 1 toa o'clock in the morning. Single copies, in wrappers, Six cools. The contents of the Evxorzay Eomoy or rua Hexarp | will combine the news received by mail and telegraph at | the office during the previous week, and up to the hour of publicatioa, | The News. Gur despatches and correspondence from the South, published this morning, show that from Virginia to Texas the secession excitement is still on the increase. At Montgomery, Alabama, a | mass mecting was held on Saturday last, com- | posed of all classes and all parties, and all | were ia favor of secession. The Governor of Alabama had determined to call a Conven tion to take the question of secession into con- sideration, to meet on the first Monday in January, The resignation of Southern United States Senators and federal officers created mach excitement at the national capital, and it was feared that four or five other Southern Senators would follow their exam- ple. The proceedings of the United States Court at Charlestoa, and the speech of Judge McGrath closing the court, given among our extracts, indi cates the strength of the secession movement in Soath Carolina. The steamship Bremen, from Southampton Oct. 31, | arrived at this port about eleven o'clock last night, | having made the run from Scilly in ten days. The i Prince of Wales had not arrived at Plymoath on | the 20th ult. An engagement took place between the Neapolitan rc and the Piedmoutese on the 26th olt., in which the former were defeated, leaving a large number of prisoners in the hands of | the Piedmontese. Victor Emanuel had arrived at Sessa, and was expected to enter Naples ou the 30th ult. He had been joined by Garibaldi, ‘The voting in the kingdom of Naples for annexation to Sardinia, resulted in 1,102,499 in favor, and 9,371 against it. Austria has announced that she will not abandou the system of pon-intervention in the af faira of Italy, The returns from the British War Office show the expenses for the current year to meet the expenses of hostilities in China to be about £10,000,000. The Duke of Deca one of the notabilities of the first Empire and the restora- tion, died in Parison the 25th ult. The Warsaw Conference had broken up without coming to any result. In the Liverpool cotton market on the 2ith ult, considerable excitement existed, and prices for American descriptions advanced jd. per Ib. | We have received intelligence from Sait Lake City, under date of the 20th ult., giving full details of important matters in Utah Territory. The prin j cipal topic or excitement current at the time our | correspoadence was written was in regard to the approximating legal collision or conflict of autho rity betweea Federal Judge Cradlebaugh, of the Second Judicia! district, and Judge Fienniken who claims to be the regularly ap ted successor of the first named gentleman. It appears that Judge Cradlebaugh was appointed to present position by the President for the term of four years, the period designated by an act of Congress, and hence he deni the authority of the President to remove him before the expiration of the prescribed term, unless for malfeasance in office. The opponents of Cradlebaugh argue that the power of the President to appoint implies the power to remove an officer, hence they insist on the regularity of the appoint meat of Jodge Flenniken. This conflict of aath fy at the presen’ ¢ is very embarrassing to the federal court s, as there are a large number of important s pending in all the d'stricts of the Territory which require speedy investigation. Governor Cumming has called an extra session of the Legislature, which will take measures to adjust the matter. By advices from Carthagona, New (iranada, dated October 17, we learn that the government had grant od permission to the United Company to proceed with their boats up the Magdalena river, and itwas hoped communication would be speedily opened with the interior, One of their steamboats had started up the river on the Ist of October, but re tarned next day with the loss of the second engi- eer, and, haviig secured another, proceeded again immediately. A second attack had been made apon Banta Martha, but the liberals were repulse’. Ar | Dalado, having received reinforcements from As- | pinwall, by the English steamer Saladin, wascon- | fident he could defend the city successfully against | any force which could be sent against him from the Cienega. 4 Company F., National Guard, of Boston, com | tinue to be the guests of andare enjoying the hospi- | tality of the Eighth regiment, Colonel George Lyon. | Yesterday forenoon the guests, in full uniform, without arms, under escort of company A., Capt. | Bartis, and company C., Capt. Barger, attended divine services at the First Baptist church, in Lroame street, nearjthe Bowery—iate Dr. Nott’s. i ing to church the three commands ‘ ted to the Rrandeth Honse, where the in- | ’ rpanying the Bostonians are exerted tem to gharch, | qe « eal his J Ia cons tor io the pas- was oceu of Alexandria hed xt from the fifi d hook of ( crinthians:—'' I. eth us ‘Tie aermon waa strictly i character, the speaker confining © the tex "o-day the Bostonians, under ! compas) E, Kighth regiment, Capr. J wil visit the inatitutions at Blaclwell's H Isands, High Bridge and ot On their return the ( d by escort, aud in ing p-oceed to the Bowery theatre by vitation ot the managers of that eatablisimeat. Guard speak in complimentary terms of the liberality of their hosts in carrying o:t aéas sea for their eatertainment, ‘The morning and evening sermors preacie! ia Ply mcuth church yesterday, by Rev. Heary Beecher, were devoted to ad joa of lit cal condition of the country. Reports e discourses will be found in another par! of to day's ps rt owl, ‘Two sermons were preached at church ‘on the eléction,”’ and livered in the evening the sable preac great blame on the “‘radica! abolitioaists and ‘inck men" of New York ite for the fail f fi franchise vote, and 0 visited his what he termed the ‘‘ Demetrixses’’ o times. The frst onniversar on of St. George gat the church, § the Association is e 1 haracter, it being to extend T pe neGits at present conferred by St. 1 poor sick who look to and relief. The Assos: f the seco Obrist ¢ of a seri himse t ard riet addresses in aii of tie object Montgomery, Rev. Dr y Mr. ¢ by Homans of the Ass: n ug, a col The inma of the New York thrown into a great state of excitement by a rumor of an attempt to poison t It oppears that one of tl ecullar in his food, aud p: A short ti id declared that pa: 3 tasted and seve of a sit charact tera man named J. poured croton cil others, but that he only did it fora joke, and did not intend to kill any person. Jenkins, and his advisers, Charles Brown and John K been arrested, and the case will be fuily gated. Last it, between seven and eight o'clock, a fire broke in the frame stables corner of Thirty- second street and Teuth avenue, belonging to the Spring street line of stages, and owned by Charles Lent. The le of the stables were destroyed, and about eighty horses perished in the dames. The total loss is estimated at about $10,000. No insurance The United States frigate Cumberland, Com mander Marston, from Portsm: outside of the bar last evening. The inckemeucy of the weather on Saturday & dency to check operations in some branches of tr: The sales of colton embraced about 4,600 bales, { tn which were adout £000 in trapsitu closed with tolerable Srmue sit, but rather dull for p ,N. H. anchored dec. market especially for lots te tras ‘is {u store. Flour was arm. ty held, with moderate sales. The chief demaud was for export. Wheat was in active demaad for export, but, the supplies being large, prices for some grades favored purcbasera. Corn waa beayy and lower, aad sales moterate, Pork was firm, with sales of pew mess at $19 18 8 $19 87)/, and new prime at $14.0 $14.25. Sugars were heavy, yet fair sales were made, and embraced avout $00 bhds and 700 boxes. Colfer was quiet, and froights some leas active aad buoyant to Eagiish ports Secession Movements in the South=The True Policy for Both Sections. No one can contemplate the movements that are now being made in several of the Southern States without feeling that the republic stands to-cay in a most precarious position, and that the slightest accident or indiscretion may at apy moment precipitate the whole country into a civil war, from which we might only issne to find this great Union broken into fragments, never sgainto be combined into one nation. The telegraphic news from South Carolina, Alabama and Georgia which we have pab- ished within these few days past reveals the extent of the danger, Let us group together the points. The Legislature of South Carolina has been in session during the past week, discussing measures looking to disunion. They have passed, by a unanimous vote, a bill calling a State Convention to meet on the i7th of December, for the purpose of taking the necessary steps to secede. A bil! for the enrolment, organization and equipment of ten thousand volunteers is the special order for this day in the Senate. Mr. Chesnut has n0- tifled the President and members of tha: body of his resignation of the post of United States Senator, and that act was hailed with enthusi- astic plaudite. Federal officials have also re- eigned, and been on that account the sub- jects of much popular attention. The Senate bas passed a dill authorizing the banks of South Carolina to suspend specie payments. A day of fasting, humiliation and prayer has been ap- pointed—the 2ist instant. The earolment of Minute Men is progressing. The stars and stripes have been hauled down from public places, and the State fag—a red star upon a white ground— hoisted in their place Ia fact, South Carolina is at this moment d+ fuclo, if not de jure, out of the confederacy. Trings hare gone almost as far in Georgia. There, too. the Legislature is in session. Sena- tor Toombs has, like Senator Chesnut, of South Carolina. resigned his seat in the United States Senate, to take effect from the 4th of March next. Senator Iverson's right to a seat in that body terminates on the same day, but the Legislature, in view of the probable action of the State in seceding, bas not thought ft to go into a ballot for the choice of hie successor A bill, called the Retalintory bill, imposing a a tax of twenty five per cent on all goods im- ported from States that have nullified the Fugi- tive Slave law, and exempting foreign goods from taxation, comes up to-morrow for its third reading in the House of Assembly. Ata pub- lic meeting held in Augusta Saturday night, it was resolved to submit to a rate of taxation to raise a million of dollars to arm and organize the military of the State: anda military con- vention ie to be held in Milledgeville this week. In regard to Alabama. the Governor appears to be undecided as to whether the State Conven- tion should, under the terms of the act of the last Legislature, be called now or after the re turns from the electoral colleges shall have been opened; but public opinion favors an imme. diate cal convention, and the probabill- ties are that the Governor will yield to the popular wile Weare also informed that the Governor, the Judges of the ScpremeCourt, the Circuit Judgee, both the United States Seas tors and all but one of the Congressmen, are for diaunion. These, and similar maalfeatations of the popt- lar axind in the cotton States, canact be misap preheaded, and ought not to be disregarded. They indicate adetermined plan and purpose to shatter the fabric of the government. It is true that the conservative classes in those States, the wealthy planters, the large siave- holders, the commercial men and traders in tha cowna aad seaports, are averse to these hasty movements; butit is to be fear ed that they will be unable to stem the po- pelar curreat, and will bave to go with it. Ruin to their intereats, ruinto the commercial interesta of the whole country, North and South, and the overthrow of our whole system of go: vernment, will be among the inevitable results of aa unwise yielding to the paasions and preju- dices ofthe hour Let both sections calmly consider the position of affairs. And frst, a word to the South. According to present appearaaces thera are but Give States resolved upon secession. These are South Carolina, Georgia, Alabama, Florida aad Mississippi. The other slave States of the South ave in favor of remaining in the Union, at least uatil some overt aggression be made upon their rights. A secession of these five States, therefore, will have the immediate effect of giv- ing the republicaa party majorities in beth Hovses of Congress, and will have th tive effect of weakening the politica! of the institution of Afican slavery. They would, therefore, be playing directly into the hand of the adversary, just as they did play into when they seceded from the demo- onventions at Charleston and Baltimore. And what do the election figures prove? They prove two things: first, that the united opposi tion vote, North and South, exceeds the repub- lican vote by eight hundred thousand: and second, that the opposition vote in the free States outaumbered by 550,000 the opposition vote in the slave States. Here is the table:— ESTIMATED VOTE OF 1860. Linco’s vors Iu free States In slave States 1,830,000 1,600,000 1,050/000—2 650,000 Total vote.. - 4,500,000 Opposi 800,000 Free Sta‘ ve States «$50,000 In view of these Sgures, and in view also of the undenfable preponderance of anti-republi- can sentiment in the great commercial ceutres of the North, particularly in New York, there is no excuse for secession at this time. And now a word to the North. The critical posttire of our national aifuirs at this moment ought to teach those who are disposed to enter- tain abolition or anti slavery sentiments how fearfully dangerous is any such interference with the rights and privileges of our Southern brethren. Senator Wade, of Ohio, said,a tew weeks ago, in Brooklyn, that secession would be a decree of universal emancipation. He omitted to say, what is certainly more true, that secession would bea decree of universal bankruptey. Let both sections pause before the terrible gulf that yawns before us. Let more moderate counsels prevail at the South, and let the conservative men at the North take immediate steps to prove that no invasion of the rights, interests or honor of their Sonthern brethren will be for a moment tolerated or en- couraged. In this way the social and political cataclasm that threatens the country may be averted. If not, Heaven alone knows what the consequences may be. Secession Not Nullification—The Attitude of South Carolina. We eee it stated, in some quarters, that the present movement in South Carolina is a matter of no great importance, inasmuch as there had been a similar movement in that State nearly thirty years ago. and that that movement re- sulted in a miserable failure. Whatever may be the result of the present difficulty with the Palmetto State, nothing could be further out of the way than the conclusion that the secession- ists of 1860 and the nullifiers of 1852 occupy the same position. The relative positions of South Carolina now and in 1832 are not ana'ogous. Neither are the political organizations of parties in that State. In 1832 South Carolina took a hostile attitude upon one single issue—the im- poeition of an import tax for the benefit, as she claimed, of Northern manufacturers, and to the great detriment of the South. In 1860 she de- cides to withdraw from the Union, because her social institutions, her productions, her rela- tions and interests in every respect are menaced by a sectional party, openly hostile to her, who have obtained possession of the government, and she feels no longer safe within the Union. Again, the people of the State were greatly divided on the nullification question in 1852, so that the federal government was not without friends in South Carolina herself, and Jackson, therefore, found it easy enough to settle the difficulty in his sledge bammer fashion. The following table will show how parties stood in South Carolina on the nul- ligcation question:— VOTE POR MEMBERS TO THE LEGISLATURE ix 1832, THE POrCLAR Vor. Majority for nullification MEMBERS OF THE ARNATE For nullification so eeee Union Majority for nullification MEMNERS OF THR HOUSE For nullification " Union Majority for nullification 70 Here, then, there were nearly sixteen thou. sand voters in the State opposed to nullifica- tion and twenty-seven members of the Legis. lature, and fourteen Senators were of the same opinion. But bow different the aspect of par- ties now on the question of secession. There is not a man in either branch of the Legisla- ture opposed to South Carolina going quietly out of the confederacy, and probably not a voter in the State who would raise an objection to such a course, We tell those who would make light of this movement in South Carolina that it is s very serious affair, and altogether different from the nullification folly of Jackson's day. If South Carolina withdraws from the Union, she will be followed by other States; the example is contagious and the emergency pressing. The only way to prevent this calamity is for the people of the North, and especially the repub- licans who voted for Lincoln, to come together ic masses, igmue nddresses to the South, aad NEW YORK HERALD, MONDAY, NOVEMBER 12, 1860. rg? epoe Mr, Lincols the necessity of atatiog his policy plainly aad fairly. Lot him eova- ate now, before itis toolate aad the South bas gone too far, what he intends to do, and what be intends not to do, aa far aa the South is concerned. That is the only course left aow to prewent the disaater which meunces the whole coustry The Repubitcam Party of che E: ad of the West—Mr, Lincoim s Position The republican party, in its entirety a geo graphical organization, consists of two great geographical divisions, the party of the Eaat aad the party of the West. The Eastern divi- sion, ofthe hard, bigoted Puritanical achool of Massachusetts, covers all the New Englaod States, the greater portion of New York, the Western (Connecticut) Reserve in Mortheast- era Ohio, and maz be found, more or less, scattered through the counties Aanking the gzeat laxea from Cleveland to Chicago. The Western, or what may be as properly called the Southern division of the party, extends from Long Island westwardly to Miasouri. With the Eaatera, or New England wing of: the party, the “one idea” of Mr. Seward, the extirpation of slavery, awallows up everything else; the Western division of the party are con- tent to limit their hostility to slavery to its ex clusion from the Territories, and agree that, under the federal constitution, we are bound in certain particulars, not only te recognise, but te protect the iastitution of slavery. A strong infu- sion of settlers from the Southern States through- out all the region occupied by this branch of the party will very largely account for its con- servative character a3 compared with the New England republicans, who have none of the ad- vantages of this intimate eocia!l contact with our Southern brethren To draw this interesting fact into bolder re- lief, let us take the aortbera counties of New York, immediately bordering the St. Lawrence and Lake Ontario; they are all strongly im- pregnated with the leaven of abolitionism. Oo the other hand, take the people of the south- ern border ‘counties of Ohio, Indiana and Tinois, and they are found nearly anslo- gous in their conservative views on the slavery question to their neighbors along the opposite bank of the river in Virginia and Kentucky. This harmony is the natural result of the immediate and intimate social and commercial intercourse between the nonslave- holding people on the right bank and the slaveholding people on the left bank of the dividing stream. The farther we travel North from this river the more intense becomes the anti-slavery sentiment of the community, and the farther we travel South the more aggra- vated becomes the feeling of hostility against Northern abolitionism. South Carolina, surrounded by slave States, is the hotbed of secession and nullification; Massachusetts, surrounded by Puritanical anti- slavery States, is the hotbed of abolitionism. All this may be readily explained. The preju dices between separate communities and na tions are greatest at the greatest distance, and are diminished in the proportion that they are brought into familiar contact with each other. Thus the extreme northern counties of our Northern States are the most completely abo- litionized, while the remotest sections of the Southern States are the most intensely pro slavery. Thus, while between the citizen of Ogdensburg, on the St. Lawrence, and the citizen of St. Augustine, in Florida, there is nothing but hatred, we see that between the people of Cincinnati and of Covington there exists the harmony of the same community. Now for the application: Mr. Seward has bousted that he belongs to the Massachusetts school of republicans: Mr. Lincoin, we know, belongs to the Western school. Born in Ken- tucky, and living all his life under the advan- tages of an intimate social and business inter- course with Southern men as wellas Northern men, his mind has naturally enlarged itself into &@ more conservative view of the institution of slavery than that of Mr. Seward, if we are not mistaken. The views of Lincoln more nearly assimilate to those of Henry Clay; while those of Seward are of the bard Massachusetts school of Jobn Quincy Adams. Which of these shall tule the new administration? That is the ques- tion. Mr. Lincoln was nominated because he was strong in the West, because he was less obaox- fous to conservative men on the slavery ques- tion than Mr. Seward. This is the secret, too, of this remarkable triumph of the republican party, notwithstanding the radical anti-slavery campaign speeches of Seward. But what are we to have—an Eastern or a Western, a Massa- chusetts or an Illinois republican administra- tion? We are told that we shall be answered with Mr. Lincoln’s inaugural address and his Cabinet. But the Southern secession excite- ment resulting frem this election requires an answer at once. When Mr. Seward, on his return from Kan- sas, stopped o half hour or so to pay his respects to Mr. Lincoln, in Springfield, it is known that the meeting between them was conventional and formal, as if each was afraid of his own virtue in the presence of the other. Each stood upon his own dignity, and the pair separated rather as rivals than as confederates. We are free from this to infer that Mr. Lincoln will not be the tool of Mr. Seward, nor of the Seward Mgssa- chusetts republican school. But this is exactly what the country wants to know; and the con- servative friends of the President elect, if they would see his administration inaugurated with- dut serious revolutionary embarrassments, would do well to wait upon him promptly, in some formal manner, demanding an exposition of his views and purposes touching the critical condition of the Union. What say our New York republican mer- chants? What says Governor Corwia, of Ohio Shall this fearfal Southern excitement be al- layed, or shall it be disregarded until it shall have assumed the proportions of a warlike Southern revolution? This is the immediate question to be considered. Rewiniscences or A Potrricat. Cannnn.—We see it noticed in the Massachusetts papers that Josiah Quincy, the venerable ex President of the Harvard University, is ninety years of age. ‘This veteran politician may possibly have to re- cord of himself what no other man has ever had to say—that he has witnessed the rise and fall of an empire. Born before the Revolution, he was an eye witness of the struggles which ended in the foundation of the republic; he entered the national legislature in 1804; rendered himself conspicuous while there by moving the impeach meat of Jefferson, then President of the United States; lived through the secoad war with Eng- land, and throvgh the wartous polition! contests whica bave «icce threatened the integrity of tae Union, aud cow, towards the close of a career pretracted beroud the uaual period allowat to mac. he la likely to be s apectator of the diaso- luton aad ruin of the powerful confederation ap by the labora and wisdom of our fore- fathers, And it isa melancholy fact that few men have contributed more to bring about this result by their fierce aud vindictive abolitioa ism than this nonogenarlaa politician and one of biseons. It ia, pechapa, a just, though rare, his- torical retribution, that the former should live to assist ia reaping the dragons’ teeth that he hassown. But few will eavy him his redee tions Beaks end Trade im the South—Tas True Qaucstion at Iseuc. The uaaoimous act of the South Carolina Legislature, authorizing the bauks of that State to euspend apecie payments, and the con tinuous flow of specie to the South which bas already get in, in obedience to the imperious demand for cottoa, are indications of a state of affairs well calculated to alarm close obserr- ers, at the dangera which meaace our circuls tion and currency. We have on several occasions called public Sttention to the disaster and ruin Ga: must inevitably follow the rangizg of the great ms- terial interests of the South in hostility to those of the North, under political influences. We have shown the identity of such a contest with the old bank conflict of the time of Jackson We have proved that @ similar result of ruin and bazkruptcy must follow the political raog- ings of material interests to-day to that which followed those of thiity years ago. Instead of meeting our arguments or disproviag ow facts, boyish and silly journalists of the black republican school assume to make light of the dangers that stare us in the face, and to contemn the teachings of expe rience. The trouble that is in the air, all round us, will come too soon to be welcome to any of the vast industrial and commercial interests that will be the first to suffer and the last to recover from the rising tempest. In the meau- time let us contemplate the position of the States which Southern haste and Northera folly seem determined to drive out of the political and commercial Union with us. It is not excessive to estimate that the five seceding States hold one-half of the cotton crop, or say, at least, two millions of bales, worth in the market not less than $100,000 000, ‘This cotton is to them as so much gold, for the world must have it, and, if no cther means caa be found to obtain it, will send the gold for it. Massachusetts will be as eager in this as will be England and Frauce; and this fact strengthens the South immeasurably in its prosecution of the “irrepressible conflict” with Northera fanaticism. Let us now see what is the banking and financial condition of these States as regards specie, circulation, State debt and expenditures, for from these we may form some idea of the extent of their own local suf- fering from the derangement of the currency and course of trade:— CONDITION OF THE BANKS. No. Specwe Alabama $2,747,174 7 ATT, Florid 32,376 7 B,2UL,974 Georgia . Mississippi... ... South Carolina... 1s 2,324,121 STATS DEBTS AND BXPENDITURE. 1,475,604 Alabama . Florida 000 f Georgia ...... 23,604,750 750 000 140,000 Mississippi... . 2,271,707 6,000 000 130,000 South Carolina 2,192,743 3,000,000 115,000 When we compare the smal! amount of these liabilitian and expenditures with the large sum of merchantable products annually exported, and which from their peculiar character are equivalent to gold. we shall comprehend to how small a degree the prosperity of the South- ern people will be affected by their derange- ment. As these States produce to a large ex- tent the food necessary for their consumption, and possess in cotton a means for pro- curing any deficit, any trouble in the channels of trade and currency will affect only the merchants and consumers of luxuries. They have no large mechanical and manufac- turing interest which must starve when trade stops. Their laboring population, being slaves, will not suffer from a delay in the exchanges of commerce, and they can consequently have no great popular agitation of masses out of work and wages. In this respect, as compared with the North, their position is almost impregaable. Agriculture, and not trade and manufactures, constitutes their staple of employment, and a failure to pay their debts to the merchants would only injure these and their Northera cor- respondente. On the other hand, the rupture of the com- mercial relations between the North and the cotton States must bring confusion to our own exchanges and currency. Short sighted people may laugh at the idea of the Southern banks stopping payment, and Southern bankers de- clining to negotiate cotton bills on the} North; bat if the currency of these bills is stopped, and specie continues to flow South as it has already begun to flow, the whole credit system of the Norih will be thrown into confusion. Every steamer that leaves for a Southera port, every express that departs over a Southward line of railway, now carries a greater or less amount of specie. Let us take one ex. ample of the effect of this necessity. Massachu- setts consumes annually about forty millions of dollars worth of cotton. Her banks hold, according to the returns of the Cierk of the House of Representatives on the Ist of Jann ary last, $7 552,047 in specie. She has no ex port that commands gold unless it be her manu factured cottous. How will she procure the cotton she requires to feed her mills and pay her laborers their wages’ The movement that is now going on in the South, in defence of what the Southern people consider to be their indefeasible rights, is pre- paring a financial snd commercial revolution ia the North which will sweep a flood of baak- ruptcy over it. It matters not whether they are right or wrong, they think they are right, and it is their acts, not the principles on which their acts are founded, that are produciag the evil. The black republican leaders and jour. nals must abandon their tone of scorn and de- fiance towards the South and ite rights: the black republican masses must recede from their fanatical war upon Southern interests, or they will bring disaster and ruin into our midst that will produce revolution here, It is not the dis. cussion of the political question of recession, but it is @ practical question of trade, work and wages. Are they prepared to meet thie ia the midst of a bait employed communts;’ nen Tes Cxmu my New Yoox—Tar Dorr ov tax Hoor,—The fall in stocks in this city Oa Saturdey qili probably be aggrarsted, aad’ a greater decline be produced, by the intelligence of tag South Carolina baaim being authorized by the Legislatura to suspend specie payments,.to aay aothing of Mr. Chesuut resigniog his appoiatmeat o United States Senator from South Carolina, aad Mr. Toombs as Senator from Georgia, and other alarming demonstrations iu both States, as waii asic Alabama showing the rapid progres of the secession movement at the South. In a table which we published yesterday it wae seen that the depreciation of stocks from the 10th of October to the LOth of November ranges from five to fifteen per cent; and if the proceedings in the Southern States, preventing the shipmes+ of cotton to the North. and passing bills exant- ing a tax of twenty ve per cent on all goose from States which have nullified the Fugicios Slave law, and removing the tax or tariff om foreiga gooda,ehovld be continued aad sua- tained, the present depreciation of stocks wilt Probably be os cothing compared with tasic future decline. The efforts of the more moderate men at te South to postpone secession appear to have faited. Souta Carolina. Florida, Alabama aad Georgia, it ia com etated, seceda ha- fore the inauguration of Mr. Lincoln. Va- rily Mr. Liacola haa a ¢ark aud menaciag future before him. Bat that would ba of small consequence to the country did aot the coming storm affect all its interests, aad threaten the dissolution of the goverumant, and, if raah counsels should prevail, evan a fearful civil war. What is the duty of all good citizens ia this crisis? It isto allay the excitement. aad to undo, as far ss in their power lies, the cauass which have led to this deplorable state of things. The North have it still in thei power to eave the Union by concilistioa aot justice to the South. But it is especiaily incumbent on the conservative portion of the republican party to come out aad declare their eentiments, for they are ra- sponsible for the consequences now produced by the election of Lincoln. Had they aot joined the abolitionists in their crusade against the rights of the South, and voted for a candi- date committed to an irrepressible conflict againat the system of labor of fifteen States of the Union, he never could have been elscted. It ia their duty, therefore, now to make all the reparation in their power, by defining their po- sition and repudiating all designs of interfering with the social institutions of the South. Let a meeting of the republican merchants of this great commercial city be held at once, and let them, ‘like the conservative republicans at the meeting at Philadelphia on Saturday, de- nounce the violence of the ultra wing of their party, and the extreme sentiments of Seward aad the republican organs and leaders. Aad let Mr. Lincoln, if he values the peace of the country, and if he has any just appreciation of the value and glory of the Union of the States, Jose no time either in making an announcement which will soothe the tumult of revolution at the South, or in resigning as President elect, aad leaving some room for accommodation. The best interests of the country, if not the very existence of the government, ought not to be aa- crificed to one man, nor even to a party, though it does number one-third of the white popula- tion of the Union. For in whatever way this strife may result at last, it is destined, unless it be arrested at once. to break up all commer- cial intercourse between North sad South, to end in a great financial convulsion, which has already commenced, and involve ail classes of the community in terrible sufferiag and dis- trees. e Tus Americans iv Ganmatpi’s Anwr.—We recently announced that amongst the voiua- teers who went out from Engiand to join Garibaldi was our countryman (Ceneral Wheat. In a letter from General Avezzaas to a friend in this city, dated Maildaloni, Octo- ber 16, we find mention of four other Ameri- cans as being attached to his (General Avezza- na’e) staff—namely, Charles Carroll Hicks, of Columbus, Ohio; Frank Maney, of Nashville, Tennessee; Henry N. Spencer, Jr., of Peansyt- vania, and Alfred Van Benthuysen, of New Or- leans, Louisiana. They all bad the good for- tune to be present at the battle of Caserta, aad the General speaks of their conduct in the high- est terms. He says that not only did they dia- tinguish themselves by their coolness and gal- lantry on that occasion, but that their deport- ment, both on and off duty, exercises the most beneficial influence on the other officers of the division, which is necessarily made up of hete- rogeneous elements. They are quiet, get tleman- like and forbearing in their manners, but al- ways ready to volunteer for positions of daa- ger. This isthe character of the true soldter, and it is gratifying that we should have such testimony borne to the conduct of our country- men, two young American surgeons, who had been studying in Paris, have joined Gari- baldi’s army. In this speciality assistance is much required, and no better field can cer- tainly present itself for the acquirement of ex- perience in surgical practice. . Coroners’ I Screws oF an Cxxxows May ey Daowssa —Corouer Schirmer held an inquest yesterday upon the boty of aa Gaknown man, about thirty.five years of ag*, who com- eee las tote arca of Minnerots ‘4 eutimated at 61 250 ailleg, #0 that th€ Pore! ation of Minnesuta on (he 591900, Wan WINN ter lwo pernvOR lo oRy *