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Cotton.

--We have been surprised to see a correspondent of the Charleston Mercury gravely contending that it would be good policy to permit England to purchase the entire cotton crop. It is true, the Mercury and its correspondents have demolished the argument of this writer, but we wonder that one single man in the Southern States could entertain such a notion. He expresses the belief. that England would be propitiated by such a mark of confidence, an idea which speaks well for the benevolence of his heart, but does not display much knowledge of the human nature of Governments. Corporations have no souls, much less Governments. England has no more affection for the South than for the North, but she has a supremely intelligent perception of her own interest. We blame her not for that; she would be faithless to her own people if she sacrificed their welfare to silly sentimentality. If she were capable of such absurdity, it would be an evil day for the South, for all the sentiment in England that could by any possibility control her policy towards America is the Abolition sentiment of Exeter Hall. We may be thankful, therefore, that England, like every other nation, is governed by her interests, for all her interests are Southern. Cotton, commerce, manufactures, the undisputed and universal supremacy of the seas, all bind England to the South, and will bring her into entire co-operation with it, as soon as necessity compels, and prudence warrants her, to show her hand.

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