Mr. Pike to Mr. Seward.
Sir: I have to acknowledge the receipt of your despatches of the 29th and 30th of June, (Nos. 105 and 106.)
The fluctuations of military events at home create corresponding fluctuations of opinion on this side. A month ago everything was thought here to be favorable to the government. Now it is the reverse. There are even those who profess to see in Lee’s army a conquering host about to dictate terms of peace to the federal government in, its own capital. It may well be deemed surprising to find, at three thousand miles distance from the scene, such idle apprehensions and such extraordinary ignorance of the American character. But this tone finds its way even into the British Parliament, and the partisan sheets of the slaveholders fulminate it at every corner.
Whatever General Lee’s hopes and expectations may have been of striking a sudden and unexpected blow, the delay of two weeks—during which he seems to have been across the Potomac without having attempted anything of the kind—looks like a frustration of his purpose. At any rate, this delay is here interpreted unfavorably to his designs. As you may suppose, we await the denouement of this hazardous movement with deep solicitude.
I fear the general course of events is again acting prejudicially to our cause, though, as I have often said, the action of the government here will depend entirely upon the progress we make at home.
The financial credit of the government not only stands unshaken, but actually improves amid all the uncertainties of the situation. Our government stocks are constantly rising, and have been ever since I first called your attention to the speculative movement initiated in them at Amsterdam last winter. Our 5 per cent. have slowly but steadily risen from 60 to 70, from which point they still tend upward on the Amsterdam bourse.
The ministry of Mr. Thorbecke have safely passed the July crisis, which at one time, as I informed you, was thought likely to prove fatal to them. The ministry have been violently assailed on the ground that they contemplated the overthrow of the existing colonial system which has proved so very lucrative to the treasury.
The new colonial minister, Mr. Van De Putte, in a late exposeé of his [Page 898] policy, has temporarily quieted these apprehensions, and both chambers have separated until the September sitting—the first chamber having first reversed a previous condemnatory note and accorded its confidence to the new minister on the strength of his concessions and pledges.
I have the honor to be, with great respect, your most obedient servant,
Hon. William H. Seward, Secretary of State, &c.