Steam from Europe to the cotton States.
The London Times, of the 3d, contains a letter from Mr. Sahel, relative to the question of steam communication between Liverpool and the cotton States of America, in which he says:‘ The British and American Southern Steamship Line was the first line of steamers projected to run between this port and New Orleans, and has been for a considerable time in course of organization; but the promoters consider the present moment inopportune for bringing the project prominently before the commercial public, as important negotiations with the Southern States government are still pending, and the present position of those States with respect to their Federal relations is, for the moment, unfavorable to the completion of the project.
At the same time, I may inform you that everything is being steadily pursued toward the successful establishment of the British and American Southern Steamship Company, and that the promoters comprise the names of many leading British and American merchants, who have matured this project long before the question of secession was thought of.
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