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England's opportunity.

--There is not an interest, nor even a passion of Great Britain if Governments can be supposed to be influenced by passions, which is not involved in the present contest in America. If she fails to avail herself of this golden opportunity, it is because her statesmen are incompetent to the guardianship of her affairs. We do not believe that. The dullest perception cannot fall to see that the commercial, navigation, and manufacturing interests of England must all be placed beyond the reach of human rivalry by the success of the Southern Confederacy. Nor is this all. The Monroe doctrine will no longer interpose even a nominal barrier to the progress of European colonization on this continent, and the colonies which England already possesses will no longer be in danger of absorption by the mammoth Republic. The influence of radical principles, which, with every year of the progress of the United States, must continue to grow until it gradually undermines existing institutions in Europe will not only be checked but annihilated by the overthrow of the United States Government. The only considerations which can be adduced in opposition to giving ‘"aid and comfort"’ to the South, are the abolition sentiments of Exeter Hall, the fear that Canada may be invaded, and, what the North has threatened, that five hundred millions of British property within its borders will be confiscated.

Exeter Hall, however, has not yet become such a power in the British empire as to influence its policy where pounds, shillings, and pence are concerned. Moreover, it is not sufficiently assured of the purposes of the Federal Government in this war to give that active sympathy which it always yields to impracticable and destructive measures. If the war is one simply to put down what the London Times has styled an insurrection of Southern planters against their commercial masters in the North, Exeter Hall, of course, feels no interest in such a strife. It must be such's war as Fremont has proclaimed in Missouri to enlist the sympathies of Exeter Hall; but Fremont has been recalled. When we consider the enormous war debt which the Lincoln Government is running up, with no earthly prospect of ever paying the interest upon it, except by obtaining command of the cotton crops of the South, Exeter Hall may well conclude that the public creditors of the United States have not advanced their money upon the theory that an institution which is essential to the cultivation of cotton shall be destroyed. It is therefore idle to suppose that the pseudo philanthropy of Great Britain will be stimulated to any special paroxysm in be half of such a cause; nor if it could, has it ever yet been able to control the policy of England in any point affecting her commercial interests and national power.

The security of Canada is of course a subject which no British ministry could overlook and doubtless affords a reason for the caution which that Government has exercised upon the American question. The colonial possessions of England on this continent are nearly as great as the territory of the late United States, and have been constantly increasing in wealth and importance. Canada, in proportion to her population, is a more profitable customer of England than the United States, and large amounts of British capital have been invested in public works and private enterprises in that growing portion of the British Empire. The Government has sided in the construction of magnificent improvements, of railroads, canals, and bridges, which are intended to develop the vast resources of Canada, and to enable her to compete in trade and prosperity with her republican neighbor. The Canadian people, always among the most loyal of British colonists, have become more than ever attached to their institutions since the disruption of the American Union. They point with pride and confidence to the solidity and safety of their own Government, to the permanent security of property and life, and to its vast superiority, even on the score of civil and political freedom, to the lawless military despotism which has triumphed over the American Constitution. We cannot of course expect that England should abandon such a colony to the risk of a Yankee invasion, which has been openly menaced by the profligate and shameless journals of New York. We must give her time to put Canada in a state of defence before she assumes a position that must bring her in direct collision with the American Government. This she is doing as rapidly as possible, both in the construction of fortifications, and in such large reinforcements of men as to excite the jealous outcries of the Northern press. It is only for the South to hold its own a little while longer, and we shall be in close alliance with the most powerful empire of modern times.

The Northern menace, in the event of British recognition of Southern independence, to confiscate the five hundred millions of British property in the North, is a mere brutum fulmen, which the British Government will know how to value as it deserves. If, as the Northern press allege, the control of Southern commerce is worth the expenditure of five hundred millions a year for a series of years, the same Golconda would be purchased even more cheaply by Great Britain if the North should confiscate every dollar of her property within her borders. But the North would never venture on such a step, with the prospect of having all its cities on the Atlantic coast knocked about its ears by British squadrons in twenty-four hours after the decree of confiscation should go forth. Northing is more absurd than the gasconading threats of the Northern press against Great Britain. What could the United States do in the event of a war with that country ? Privateering she has herself denounced as piracy, and at this moment has our Southern privateers in prison cells, about to try them for their lives on that charge.--he successes of the last war with England florid no standard by which to estimate the results of another conflict with that gigantic power. The United States went to war with England when England was at war with all the rest of the world, and, besides, was herself united when she ventured upon that hazardous enterprise. She would now find England unoccupied with any other combatant, and able to bestow the undivided attentions of a thousand ships of war, most of them steamers, and some of them iron-plated vessels, upon the handful of ships in the United States Navy, and the populous and inviting towns upon their seacoast. Hence, we come to the conclusion that if England cannot obtain cotton in any other way, she will not be deterred by apprehension of any damage the United States can inflict upon her from opening the Southern ports without ceremony, and at such time as her convenience dictates.

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