The blockade of the Southern ports.
--The following, from the London Telegraph, will be read with peculiar interest at this time:‘ With regard to the blockade question, we have to state that it cannot be solved by any government in America, but must be left to the maritime powers of Europe — which, acting upon the law of self-preservation, must, of course, forbid all attempts to exclude their commerce from the ports of the South; the ruin of which, though if may gratify the passions, would not serve the North. Such a policy of coercion, therefore, would be both short-sighted and ineffectual. The new tariff, for which Mr. Lincoln is not responsible, though he will not be unwilling to accept its consequences, is an unwise measure on the part of those who framed it. * * President Lincoln has the interest of the Union to protect, and Lord Palmerston is bound to defend those of Great Britain; but the former cannot be allowed to blockade our flag out of the Southern ports, or the latter be stimulated to any particular advocacy of Northern ambition.
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