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in any way oppressing our people. The lucrative carrying trade of the Confederate States on the high seas, and the coasting trade, hardly less remunerative, would have been chiefly theirs, with less cost to our people. Would the Palmerston-Russell ministry have ventured to decline such a proffer of mutual benefits, and to persist in the policy of non-intervention? If it had, then the subject would have been taken straight into Parliament, with almost a certainty that the Whig ministry woeedily voted down, and the Conservative administration of Lord Derby and Mr. Disraeli placed in power. And there can be little doubt that that administration would promptly have entered into such a treaty. Even the Whig Foreign Secretary, Lord John Russell, openly expressed the opinion that the dissolution of the American Union would be permanent, and the Confederate States successful. John Bright, the Quaker Radical, and Richard Cobden, the Independent Liberal of the Manchester School of po