The Daily Dispatch: may 5, 1862., [Electronic resource]

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Russell's want of foresight.

The English nation aspires to do the manufacturing of the world. To that end they seek a monopoly of all the cotton. Lord Russell hopes that if the Yankees conquer us, he will get as much cotton as he wants from the Confederate States. The Yankees are to supply him. In the meantime the opportunity is favorable, he thinks, for introducing cotton grown in India on a large scale. There never was greater folly.

If the Yankees conquer us, they will place a heavy export duty on cotton. They will thus be enabled to buy it on cheap terms.--They will manufacture the whole crop themselves, if possible, for their whole policy is directed to the encouragement of manufactures. They already have a tariff which virtually excludes English manufactures, but they will screw it up a page or two higher.--They will thus have the monopoly of the Southern market. They will be enabled to sell cotton Fabrice so low, that no nation can compete with them. They will drive England out of every market in the world. They will utterly break down the manufactories of England, France, Germany, Russia, Holland, Switzerland, and Spain. They will be the sole manufacturers of the world.

This view never seems to have struck Lord Russell in the intensity of his hatred to the Southern States, but he may be sure it has struck his friend Seward. It is a pity such a country as England should have her foreign relations directed by such a superannuated old humbug as Russell.