Mr. Adams to Mr. Seward
Sir. Despatches from the department, numbered from 1256 to 1261 inclusive, have been received at this legation.
By the report of the debate which took place in the House of Lords on Monday night, which I transmitted in a copy of the Times, you will perceive that the alarmist policy referred to in preceding despatches is actively pursued. The impression is now very general that peace and restoration at home are synonymous with war with this country. The apprehension of this is the true cause of the depression of the funds. The price of cotton is still more affected, but for rather different reasons. It is feared that the opening of the trade will so rapidly diminish prices as to bring on an extensive bankruptcy among the large class who have entered into engagements for a supply from the east. On the whole, I must characterize the present as a period of extraordinary uneasiness and indefinite apprehension as to the future. Under these circumstances it may be well for the government consider the question how far its policy may be adapted to quiet this disturbance. It is only now that people are beginning to open their eyes to the gravity of the miscalculations they have made of the [Page 183] issue of our difficulties. A little time must be allowed them to accommodate themselves to the actual state of things, and to let the sympathy with a falling cause die out. Some of the signs of mortification will betray themselves now and then in the parliamentary debates. Due allowances must be made for them. It is in this way that I read the language of Lord Derby and his friends Lords Malmesbury and Ellenborough. I infer that the first named has abandoned all expectation of coming into power on a purely party basis. The new elections are not supposed likely materially to change the complexion of the Commons. In case of the removal of Lord Palmerston the probabilities are considered great of the formation of some compromise, semi-conservative cabinet, with not much strength. It may be affected more or less, however, by the state of our affairs and the notions entertained of our intentions. I write thus in order, as far as possible, to place before you my views of the whole field of operations. I need not explain to you that the impression is sedulously kept up that your own feelings are strongly hostile to this country. I find this to prevail even among a large class of persons wholly friendly to us. I have combated it with them in vain. I do not think it so much entertained by ministers as it was. In this respect the presence of Lord Lyons has done some good.
I have the honor to be, sir, your obedient servant,
Hon. William. H. Seward. Secretary of State, Washington, D. C.