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The spirit of the South.

The natural depression which followed the recent reverses to our arms has passed away from the public mind, and the South is now looking full in the face all the trials and perils of its situation, and accepting with stern determination the alternative which is really and truly presented to it, of ‘"Liberty or Death."’ It has always been evident and it is now more clearly seen than ever by the Southern people that we are dealing with a foe who does not even know the meaning of magnanimity, and that we have no hope on earth for anything which earth has dear, except in the most united, determined, and unending resistance. The triumph of the North means the ruin of the South, in property, life, liberty, and honor. It means the spoliation of all we own, the confiscation of every dollar's worth of property, the emancipation of the serf and the enslavement of the master. The enormous debt which the North has contracted to carry on this bloody war — a debt which cannot be less this moment than twelve hundred millions of dollars, will be saddled entirely upon the South, in the event of its subjugation. In will be wrung from Southern staples by heavy export duties, and from the Southern people by grinding taxes, which will condemn Southern industry in every shape and form to the most terrible burthens. It will take from us all that we have — not only liberty, and property, and personal security, but the respect of all the world, and even our own self-respect.--We should not only be trempled down and beggared, but disgraced and degraded in the eyes of all mankind. If we achieve our independence, thought it cost us hundreds of millions, and though it leave us poor, we shall be able again to begin the world with a soil whose rich products are our own with the spirit and energies of freemen, and with the inspiring influence of hope to cheer our hearts and animate our exertions. But if we succumb to Northern domination, we are reduced to a lower depth of poverty than any successful sacrifice for independence can cost us and lose besides honor and hope. We shall be the Parialie of civilization, the scorn and contempt of all mankind, the loathing and self-reproach even of our own hearts. The Southern mind comprehends all this, and it has resolved to perish rather

than submit to such a fate. There never has been an hour from the beginning of this contest when a determination as profound has animated the souls of the Southern people. They can die, and they can die with dignity and glory, but they will never live to be slaves. In this sublime resolution they have rendered their subjugation an impossibility. Such a people cannot be conquered. The Yankees shall not take our country from us, our homes, our liberty, our farms, our wives and children, our honor. They shall not make us slaves, and, above all, slaves to the meanest, the most rapacious, and most cruel of mankind.

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