to subdue them is a hopeless delusion-that persistence in it may bend free institutions beneath the yoke of military despotism, and must inevitably burthen the North with a crushing load of debtand further, that the restoration of the Union, were it possible, would be of uttermost injury to the true welfare of the people-if these conclusions be arrived at, there need then be no long hesitation in adopting a course thus really beneficial to all parties. It may, indeed, be said, that after that event the war and the blockade might still continue. But this is a war entirely dependent on a series of loans; these loans entirely depend on the chance duration of the present excitement. Whenever the independence of the South is acknowledged by England and France, the bankers of New York will have little desire to take another loan. A war sustained by borrowing at the rate of eighty millions a year, in a community exposed to panics such as that but four years distant, is an enormous superstructure overhanging a basement of glass, and needs no very weighty blow to level it in a moment with the ground. It may, perhaps, be said that the defects of the American system have been criticised with too great severity. But on examination the terms employed will appear mild, when compared with those of American authorities quoted; further, the severity will be found to be limited to the fault, and not to extend to the man. The events impending are too grave for honied words. Our language is plain-spoken; timidity, subserviency, sycophancy, let them be ever so fashionable, are words foreign to our native tongue. I venture to express a doubt whether any Englishman could investigate the details of the treatment this country has received at the hands of the Union from its birth to the present day, without some little warmth of feeling. Against this I have striven; and if in vain-if it should be occasionally apparent-then I forestal the reader's reproof by inviting him to go through the same studies, and to learn whether they will not produce on his own mind a similar effect. Allowing justly for this, what desire has any one here except to see that great country the home of a really great people? Few feelings are deeper in the human breast than love of kindred. None desire to be quite alone in the world. To assume the existence, on our part, of a covert ill-will towards America, is to reverse the real impulse. Did we really hate them, we might praise their institutions, flatter the present humour, urge a continuance of the recent course. It is because we desire to see them kinsmen whom we can respect to hold them not merely as related by descent, but in the warmer relationship of manly affection;—this prompts us to deplore the causes, and to denounce earnestly the evils that sunder us from each other, and are widening the gulf between us year by year. J. S. LIVERPOOL, Nov. 2, 1861. CONTENTS. EFFECTS OF THE UNION. Criticism justifiable at the present period Probability of duration.-Ancient Federal systems Modern Federal Republics equally unenduring Elements of decay or disruption in the system Opinions of authorities on this subject No cause to prevent impartial judgment |
