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Prospects Shend.

Those who believe this war still popular at the North over-rate the Yankees tenacity of purpose in what costs him money, and his willingness to run personal risk for public objects. They attribute to him an unselfishness to which his race is a stranger. The North refused outright to send their troops South of the Potomac in the Revolution, although they were the first to begin hostilities and to invite invasion at Boston. New England refused to take part in the war of 1812, although waged for the freedom of her own shipping; and burned blue signal lights for the enemy's navy, and hold a Hartford Convention to defeat the arms and paralyze the counsels of the country. The Northern regiments which rushed so eagerly to Washington in April last, are all returning home at the end of three months, sick of the service; and, except a few sorry fellows from Maine, all the new regiments now mustering under the Federal banner are German, interspersed with a few foreigners of other extractions. Henceforth the war against the South is to be conducted chiefly by Hessians, who endure readily the hard life of the camp, but do not know how to use fire-arms.

The Yankee himself has become disgusted with war, and is shifting it off upon the shoulders of ignorant, half-starved and subservient. Germans, who fight for pay, and who have been emptied upon our shores from the pauper houses of Europe. Such is the obsequiousness of the Washington Government to the German race, that tobacco shipped from Richmond for German houses in Europe and intercepted by vessels of the blockade, is allowed to proceed to its destination when the ownership is discovered, while tobacco shipped to France or England is subjected to confiscation or ruinous detention.

Accurate accounts which come to us from the North disclose the fact that their newspapers systematically exaggerate the strength of their regiments, and that the true secret of the apparent want of vigor in Gen. Scott consists in the fact that his troops are too much demoralized and wanting in organization and discipline to be trusted in the field. This is especially the case with the native regiments, and there is no appearance of efficiency except where there are portions of the regular army, or else where the forces consist for the most part of the German element. McClellan's army is probably the best column the North has in the field, and this is owing to the double fact that it consists so largely of Germans, and is under the conduct of able generalship.

It is now perfectly well understood at the North, that impossible as it will be to raise the four hundred millions of dollars demanded by Lincoln, it will be still more so to raise the four hundred thousand men which he calls for. The problem resolves itself simply into the question whether the poor class of foreigners at the North is large enough to furnish that number of volunteer recruits. It is a clear case that if every able-bodied man to be found in that whole class should volunteer, the number could not be raised; and it is quite certain that, tractable and obedient to Yankee command as the poor Dutchman is, the entire race cannot be expected to volunteer.

The case is quite as hopeless with the proposed loan as with the contemplated levy of men. It is notorious that the Northern Secretary of the Treasury has been unable to dispose as yet of all the twenty-five million loan authorized by last winter's Congress. The last amount of fourteen millions advertised, was announced to have been taken at about eighty-five cents in the dollar; yet, the fact was, that only nine millions were got off at this figure, and if the remaining five has been disposed of at all, it has been done at a price materially lower.

In three months more the remarkable fact will have been developed, that the South is able to keep a larger army in the field than the North. Her finances will be stronger and enable her to pay her troops with more ease; and the spirit of volunteering among her young men will, as it did in the war with Mexico, send more effective men into the field than the North can send; notwithstanding the great number of poor Germans she can bring into requisition.

It is clear, therefore, that the fate of this war (so far as the North; but not so far as the South, is concerned) hangs upon the success of the grand combined attack upon our lines which Gen. Scott will order in a short time.--If this grand demonstration fails, then all hope of a speedy termination of the war will be lost at the North, and the Yankee will despair of raising an army large enough to overrun the South. If our Southern Generals gallantly hold their own in this struggle, from that hour will Southern independence be dated in history. It is in view of the probable result of this encounter that the New York Tribune of the 6th inst., employs the following extra-ordinary language:

‘"This war is costing the Government from twenty to forty millions of dollars per month, and the country — in the disruption and stagnation of its industry — a great deal more. We are naturally anxious — being ourselves heavy sufferers along with our neighbors — to see this deplorable state of things brought to an end at the earliest possible moment. We believe the misery endured every week throughout the land, because of idleness and want, outweighs the suffering that would result from two or three smart battles. In short, we believe the patriot soldiers are to-day able and willing to whip the rebels, and we want to see them allowed to try. If they are not able to thrash the traitors in fair stand-up fight, our pride revolts at the idea of slowly starving them into subjection or whipping them by virtue of money borrowed in Europe. We say, challenge them to meet the patriot volunteers in fair fight; if they quail, they are ruined; if they fight, and are beaten, they must-give it up; while, if they beat us, we ought to do the same. Let us have this matter decided forth with, so that our brave men may quit soldiering and return to more profitable vocations."’

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