The position of this class has thus far been improved by the war. In the army the poor white has associated with the officer, far above him in social life. His aid has been courted, he has received high wages in Confederate notes, he has found better fare and clothing than he could procure at home, and has been lured to the contest by the eloquent appeals of the planter, by bitter attacks upon the North, and glowing pictures of the ruin which the abolitionists would bring upon the South. The Confederate notes have until recently proved sufficient for his purposes, while other classes have supplied the means to prosecute the war. But as the circle contracts and these notes prove worthless, food and clothing, tobacco and whiskey will cease to be attainable; and when the provost marshal has swept the plantation, and comes to the poor man's cabin to take his last bushel of meal and to shoot down his swine for the subsistence of the army, he will at length ask what he has to gain from the further prosecution of the war.

When this crisis arrives, and it must be approaching, how can the Southern army retain in its ranks either the poor white, the foreigner, or the Northern clerk, whose sympathies have never been with the Confederacy?

It may be said, that the Confederacy can continue the war by wealth accumulated in former years. But that wealth vested in land, slaves, or railways, now unproductive, or in banks whose funds have been advanced to planters still under protest. This wealth will not suffice to prosecute the war. Thus far it has been sustained by funds on hand, the seizure of national forts, arms, and arsenals, by the appropriation of debts due to Northern merchants, by supplies from Kentucky, Tennessee, and Missouri, and by the issue of paper already greatly depreciated. With these resources it has conducted a losing warfare while we were creating an army and a navy, and during this contest has lost three of the most important border States, nearly half of a fourth, several of its chief seaports, nearly all its shipping, and the navigation of the Mississippi.

But it may be urged, Has not McClellan retired from his intrenchments before Richmond? Have we not fought with varying results successive battles around Manassas? Are not our troops retiring to their old lines before Washington? Have not the enemy again broken into Kentucky? and do they not menace the banks of the Potomac and the Ohio? Let us concede all this. Let us admit that our new levies are for the moment inert,—that we are now marshalling, arming, and drilling our raw recruits; let us concede that the giant of the North has not yet put forth his energies,—that, although roused from his torpor, one of his arms is still benumbed, and that his lithe and active opponent is for the moment pommelling him on every side, and has a momentary advantage; let us admit that our go-ahead nation is indignant at the idea of one step backward in this great contest: still it is safe to predict that within sixty days our new army of superior men will be ready to take the field and advance upon the foe in overwhelming force,—that soon our iron fleet will be ready to batter down the fortresses of Charleston, Savannah, Mobile, Vicksburg, and Galveston, the last strongholds of the enemy. And when his army of conscripts shall have wasted away, after their last flurry and struggle, where is he to recruit or procure a new army for resistance or offence? The South is now taking the field with all its strength; but when that strength is broken, what power will remain to confront the forces of the Union?

The South has driven to the war its whole white population able to bear arms, and when that force is exhausted, at least two-thirds of the adult males of the North and the whole black population will still remain to sustain the Government, and births and emigration will soon fill the vacuum.

Let us place at the helm men of character and tried activity,—men of intelligence and forecast,—men who can appreciate the leaders of the South, reckless alike of property, character, and life, and the result cannot be doubtful.

The South is now commencing a new campaign, and is to confront a navy hourly improving, and an invulnerable fleet, armed with cannon more effective than any yet used in naval warfare. It is to encounter, with conscripts, a million of hardy volunteers, and to do this with its supplies reduced and its credit broken. It has but one reliance: a slave population of four millions, competent to maintain themselves, but incompetent to furnish to their masters a full supply of the coarsest food. While it furnishes a scanty supply, while it toils in the trenches, and feeds the horses of the cavalry, or drives the army-wagons, it is still an element of strength to the masters, and the question occurs, Shall the nation, now so severely taxed by the slaveholder, and compelled to pour forth its best blood like water to preserve its existence, remove this element of present and future strength by liberating the slave?

Can the slaveholder claim the preservation of slavery, when he relies upon it and uses it to aid him in destroying the Government? And if one-half of the population of the South is ready to sustain the Government, and to withdraw its aid from the foe, shall not the loyalist, whether white or black, be accepted and allowed the privileges of a citizen when he takes refuge under the national flag?

Can we expect future peace, unless we reduce to order lawless men, unless we draw them from the war-path by making labor and the arts of peace respected?

This is a momentous question which addresses itself to our nation at the present juncture. There are some who imagine that the negro, if liberated, would renew the scenes of San Domingo, and massacre the people of the South. But such has not been the case in the French and British Isles of the West Indies, although in those islands the proportion of the white population is far below that at the South. In the Cotton States the whites and the negroes are nearly equal in numbers; and if, in Jamaica, Barbadoes, Santa Cruz, and Martinique, the slaves, when liberated, have respected the rights of the masters, and recognized their title to the land, and have submitted to toil for moderate wages, where a handful of whites monopolized the soil, and demanded for it prices far beyond the value of the slave and land together, may we not well anticipate that the slave population, barely equal in number to the white population, trained to submission in a region where land is of little value, will, if liberated, continue to be a quiet and peaceful population?