But let us examine this question. The distress of Lancashire comes from a failure of the supply of cotton. The failure of the supply of cotton comes from the war in the United States. The war in the United States has originated in the effort of the slaveholders of that country to break up what they themselves admit to be the freest and best government that ever existed, for the sole purpose of making perpetual the institution of slavery. But if the South began the war, and created all the mischief, does it look reasonable that we should pat them on the back, and be their friends? If they have destroyed cotton, or withheld it, shall we therefore take them to our bosoms?

I have a letter written by an agent in the city of Nashville, who had been accustomed to buy cotton there before the war, and who returned there immediately after that city came into the possession of the Northern forces. He began his trade, and cotton came in. Not Union planters only, but Secession planters, began to bring in the produce of their plantations, and he had a fair chance of re-establishing his business; but the moment this was discovered by the commanders of the Southern forces at some distance from the city, they issued the most peremptory orders that every boat-load of cotton on the rivers, every waggon-load upon the roads, and every car-load upon the railroads, that was leaving any plantations for the purposes of sale, should be immediately destroyed. The result was, that the cotton trade was at once again put an end to, and I believe only to a very small extent has it been reopened, even to this hour.

Then take the State of New Orleans, which, as you know, has been now for many months in the possession of the Northern forces. The Northern commanders there had issued announcements that any cotton sent down to New Orleans for exportation, even though it came from the most resolved friends of secession in the district, should still be safe. It might be purchased to ship to Europe, and the proceeds of that cotton might be returned, and the trade be re-opened. But you have not found cotton come down to New Orleans, although its coming there under those terms would be of no particular advantage to the North. It has been withheld with this single object, to create in the manufacturing districts of France and England a state of suffering that might at last become unbearable, and thus might compel the Governments of those countries, in spite of all that international law may teach, in spite of all that morality may enjoin upon them, to take sides with the South, and go to war with the North for the sake of liberating whatever cotton there is now in the plantations of the Secession States.

At this moment, such of you as read the City articles of the daily papers will see that a loan has been contracted for in the City, to the amount of three millions sterling, on behalf of the Southern Confederacy. It is not brought into the market by any firm with an English name; but I am sorry to be obliged to believe that many Englishmen have taken portions of that loan. Now the one great object of that loan is this, to pay in this country for vessels which are being built—Alabamas—from which it is hoped that so much irritation will arise in the minds of the people of the Northern States, that England may be dragged into war to take sides with the South and with slavery. The South was naturally hostile to England, because England was hostile to slavery. Now the great hope of the insurrection has been from the beginning, that Englishmen would not have fortitude to bear the calamities which it has brought upon us; but by some trick or by some accident we might be brought into a war with the North, and thereby give strength to the South.

I should hope that this question is now so plain that most Englishmen must understand it; and least of all do I expect that the six millions of men in the United Kingdom who are not enfranchised can have any doubt upon it. Their instincts are always right in the main, and if they get the facts and information, I can rely on their influence being thrown into the right scale. I wish I could state what would be as satisfactory to myself with regard to some others. There may be men outside, there are men sitting amongst your legislators, who will build and equip corsair ships to prey upon the commerce of a friendly power,—who will disregard the laws and the honour of their country,—who will trample on the Proclamation of their sovereign,—and who, for the sake of the glittering profit which sometimes waits on crime, are content to cover themselves with everlasting infamy. There may be men, too—rich men—in this city of London, who will buy in the slaveowners' loan, and who, for the chance of more gain than honest dealing will afford them, will help a conspiracy whose fundamental institution, whose corner-stone, is declared to be felony, and infamous by the statutes of their country.

I speak not to these men—I leave them to their conscience in that hour which comes to all of us, when conscience speaks and the soul is no longer deaf to her voice. I speak rather to you, the working men of London, the representatives, as you are here to-night, of the feelings and the interests of the millions who cannot hear my voice. I wish you to be true to yourselves. Dynasties may fall, aristocracies may perish, privilege will vanish into the dim past; but you, your children, and your children's children, will remain, and from you the English people will be continued to succeeding generations.

You wish the freedom of your country. You wish it for yourselves. You strive for it in many ways. Do not then give the hand of fellowship to the worst foes of freedom that the world has ever seen, and do not, I beseech you, bring down a curse upon your cause which no after-penitence can ever lift from it. You will not do this. I have faith in you. Impartial history will tell that, when your statesmen were hostile or coldly neutral, when many of your rich men were corrupt, when your press—which ought to have instructed and defended—was mainly written to betray, the fate of a continent and of its vast population being in peril, you clung to freedom with an unfaltering trust that God in His infinite mercy will yet make it the heritage of all His children.

* * * * *

AMERICA.
V.