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nd not as they have, by flotations paper and sanguine promises to pay. Nor has the effect upon the temper of the North itself been less unfortunate than the effect, upon Europe. The most remarkable quality which the Northerners have shown is their ignorant and stupid patience. Probably an Englishman is more struck by this quality than any one who would be because he is very subject to political impatience in the presence of obvious disaster. During the sufferings of our army before Sebastopol our impatience was not only remarkable, but excessive; if there had been any obvious guilty person to hang for that matter, we should have hung him immediately. What, then should we feel if at the critics of our national fate — at the hour when our national existences was threatened by a great rebellion — the resources of money and men; which we lavished without slant or hesitation, had been fritted and wasted away, without achievement and without glory, in stupid enterprises and shameful