Reward and his Projects.

When Lord North's Ministry, after having tried for three years to subdue the colonies of America, and losing a large army in the attempt, learned that France was undoubtedly on the point of forming an alliance, offensive and defensive, with them, they sent Commissioners to make proposals, such as the colonies would have accepted with pleasure in the beginning of the strife. But it was too late. The Declaration of Independence had already been adopted — the alliance with France had already been secured — the colonies would not think of going back into vassalage, and were determined that the blood they had shed should not be in vain. So they gave a short answer to every proposal of conciliation. They would accept nothing but unconditional independence, and they would make no treaty separate from France.

Of all newspapers on this continent the New York Herald is the least reliable. It is not only utterly unscrupulous, but it indulges constantly in a strain of gasconade so supremely ludicrous that we are always at a loss to know whether its are meant for just or earnest. We place but in the reliance, therefore, on what it says with regard to Seward's plan for pacifying — that is, for subjugating these Confederate States. But suppose he seriously entertains such notions, it is evident that he is but repeating the history of the first Revolution, and that he is induced to attempt conciliation by the same motive that prompted Lord North--namely, the fear of foreign intervention. Let us, then, see what he proposes.

In the first place, the Territories are to remain free. The great object for which the South so long contended in the Congress of the United States is to be put beyond their reach forever by a single dash of the Secretary's pen. In the second place, Missouri is to be a free State. The scoundrels who have robbed her citizens of their slave property are to triumph in their ruin, and they are to receive no indemnification whatever, but to be told that Missouri "has chosen to be a free State." a palpable lie, and a lie which nobody better knows to be such than Seward himself. In the third place, after the other slave States have been scoured from one end to the other by Lincoln's hordes of Abolitionists, after half a million of slaves have been stolen from them, the masters are to retain all those in their possession at the end of the war. Wonderful liberality, to be sure. Let it be understood, however, that he is thus liberal only because he thinks slavery "has received a blow from which it cannot recover"--that is to say, because having accomplished all he aimed at nothing more was to be gained by concession. In a word, Seward, fancying that because the Yankee army was not destroyed at Gettysburg he is master of the country, proceeds to treat it as though it were already subjugated forgetting how often he has heretofore exposed himself to the ridicule of the world by foretelling the entire suppression of the rebellion in ninety days. He and Lincoln are anxious to "settle up" the present quarrel, and they offer to a people who have half a million of men under arms terms of absolute submission. We do not believe Seward is such a fool as all this amounts to, notwithstanding his predictions with regard to this war. We believe that he has no idea of proposing any such terms, that they are concoctions of the Herald correspondent, and that they are written to order, most possibly in the very office of the Herald itself. A proper idea he has of "the proper measures" to settle the controversy, the South to give up her arms and submit to the conqueror! What worse can she do after she has really been conquered!

The inducements held out to us to submit to this ignominious treaty are truly very enticing. It seems that if we continue obstinate Yankee commerce will be ruined by the combined navies of France and England, and we owe so much to Yankee Doodle that we will submit to anything rather than witness that catastrophe. The Yankees, it seems too, want to conquer Mexico and Canada, and re-establish the Monroe Doctrine, as it is foolishly called, which has been unceremoniously trampled in the mire by the Emperor Napoleon. And we are supposed to love the Yankees so dearly that we will jump at the chance to help them out in their ambitious schemes! If the Herald man is merely making a fool of himself, for the amusement of his readers, we can understand all this. But if he be in earnest, then we say he cannot make a fool of himself, inasmuch as nature has already done that job for him. We help Yankee Doodle to fight France and England! Why, it would be the delight of nearly every soul in the Southern Confederacy to see all Yankeedom turned into a howling wilderness — to see every mother's son of them massacred, or sold into slavery — to see Boston and New York (like Tyre of old) turned into little villages, where the fishermen dried their nets.

Notwithstanding, however, we are not disposed to place any confidence in anything the Herald or its correspondents may say, we deem it certain that England and France will never allow the Union to be reconstructed.--In that event England cannot fail to foresee the downfall of her maritime supremacy, and France the extinction of all hope of ever obtaining a permanent foothold in Mexico. As long as we fought on equal terms England was anxious to see the strife continue; but she is not anxious to see us overwhelmed, as she will be induced by the enormous lies of the Yankee newspapers to believe we are about to be. Napoleon has long been desirous to recognize the Confederacy, and now that he has planted the tricolor in Mexico, he will no longer be withheld by England. These considerations and nothing that the Herald and its correspondents say, induce us to believe that we shall shortly be recognized, at least by France.

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