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The South and England.

The letter of Mr. Russell to the London Times, which is such a monstrous caricature of the battle of Manassas Plains, need not much astonish the public. He tells us that he saw men run from that battle whom it were a disgrace to the noble profession of arms to call soldier. We have no doubt of it; but if they had run even faster than himself, they could not more disgrace the profession of arms than he, and others like him, the profession of journalism. We have often, in times gone by, admonished our readers that they ought not to receive with implicit confidence the statements of European affairs by the Times' correspondents. They write, as an attorney pleads, for the side on which they are employed, without regard to truth or justice. It is lamentable that such a powerful engine as the London Times should be engaged in fabricating falsehoods, and misleading and deluding the public mind; but that such is the fact, no American, at least, can doubt, after reading the last letter of Mr. Russell and the accompanying comments of the Times. The impression which the whole foreign world will derive from that letter is, that the battle of Manassas was a regular Chinese engagement on both sides, and that the Americans of both sections are little better than Chinese.

Such a caricature is simply the product of an old grudge against America, for that the Times cares a groat for either party in the quarrel, is a simple absurdity. Cotton is a necessity on one side, and Exeter Hall is a power in the State on the other; and Mr. Russell seems to be balancing his attention between the two, like the ass between two bundles of hay. If Great Britain can hesitate in her choice between fanaticism and cotton, Mr. Russell is less of an ass than we suppose. --We do not believe she can hesitate long; we know she must bow the knee to cotton in the end; and if Mr. Russell, especially after the rout at Manassas, can be induced by Seward and Scott to believe that England can get the cotton without the consent of the South, he is not the man whom the Times should send to America at such a crisis, if it has much regard for the interests of its own people.

The South is master of the situation, both as regards England and the North. It does not expect the sympathy of England — her interests, and these alone, must determine her course. We understand the power of fanaticism in Great Britain, and do not underrate the violence and venom of Exeter Hall. But the characteristic common sense of the English nation never fails to assert its ascendancy in all matters which concern pounds, shillings and pence. The instinct of manufacturing and commercial self-preservation lies deeper in the English mind than the morbid philanthropy of abolitionism. We care not for the misrepresentations of Russell, or any other hireling emissary of the London Times. We have the cotton, and it shall be burned, every bale of it, before England shall have it in any other way and manner than that prescribed by the Confederate Government.

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