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Unionism in the South.

--In a late letter in the Londons Times, Mr. Russell expresses his incredibility as to the existence of a Union element in Maryland. The country gentlemen he speaks of "as tenacious and haughty as any Meayor or Pole who ever lived," and in Baltimore "the people and angry." Mr. Russell suggests that if it requires thirty-three thousand men to hold the little State of Maryland in chains, it will demand a very considerable standing army and enormous expenditure to keep the rest of the South quiet, even if they could subjugate her. None of the Northern prophets have ventured to look full in the face the consequence of their own success and to realize that, in many respects, it would be as bed as defeat.

"There is, I know," says Mr. Russell, a pretence that there is Union sentiment in solution in the South, which will tumble down in a thick precipitation on the head of the Confederates the moment it is stormed by a Federal bayonet; but there is no trace of foundation for the hypothesis." And yet it is upon such a hypothesis as this that the North builds its expectations of a reconstruction of the old Union. We need not say that Mr. Russell's statement is literally and thoroughly true. Except in some portions of Western Virginia, East Tennessee, and Northern Kentucky, and except a handful of malcontents in the large cities, there is no such thing as Unionism left in any part of the South. An undying hatred to the Lincoln despotism is the prevailing and universal sentiment of the Southern people. The Federal Government, therefore, must prepare not only to overthrow us by the sword, but to keep us down by the same instrumentality; and what a work that will be ! And, if it expects to make Southern cotton pay the expenses of the colosea, military establishment necessary to retain its power, what if the South should refuse to estivate cotton? She can live in plenty without raising cotton. She has the finest climate and the most fertile lands in the world. She is a grazing and a farming as well as a planting people. She has not only raised her usual supply of cotton this year, but her grain crops have been more than sufficient to supply the wants of her people. The State of Georgia alone, though her staples are cotton and rice, raises as much wheat as New York, one of the wheat growing States of the North. The South can dispense with those staples which, the North is so eager to obtain, and still live. She will dispense with them, if the North undertakes to hold her as a conquered country. They are totally ignorant of the lofty character of the Southern people who suppose that, having proved their claim to all that is glorious in cavalry, whether in lineage, sentiment, or valor, they will ever degenerate into tillers of the soil for the benefit of Northern commercial taskmasters.

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