I don’t know how, on the first day after the capture of the Southern Commissioners was announced, a rumor got abroad in London that the taking of the men was an act according to law, of which our nation could take no notice.  It was said that the law authorities had so declared, and a very noble testimony to the loyalty of Englishmen, I think, was shown by the instant submission of high-spirited gentlemen, most keenly feeling that the nation had been subject to a coarse outrage, who were silent when told that the law was with the aggressor.  The relief which presently came, when, after a pause of a day, we found that law was on our side, was indescribable.  The nation might then take notice of this insult to its honor.  Never were people more eager than ours when they found they had a right to reparation.

I have talked during the last week with many English holders of American securities, who, of course, have been aware of the threat held over them.  “England,” says the New York Herald, “cannot afford to go to war with us, for six hundred millions’ worth of American stock is owned by British subjects, which, in event of hostilities, would be confiscated; and we now call upon the Companies not to take it off their hands on any terms.  Let its forfeiture be held over England as a weapon in terrorem.  British subjects have two or three hundred millions of dollars invested in shipping and other property in the United States.  All this property, together with the stocks, would be seized, amounting to nine hundred millions of dollars.  Will England incur this tremendous loss for a mere abstraction?”

Whether “a mere abstraction” here means the abstraction of the two Southern Commissioners from under our flag or the abstract idea of injured honor, which seems ridiculous to the Herald, is it needless to ask.  I have spoken with many men who have money invested in the States, but I declare I have not met one English gentleman whom the publication of this threat has influenced for a moment.  Our people have nine hundred millions of dollars invested in the United States, have they?  And the Herald “calls upon the Companies” not to take any of this debt off our hands.  Let us, on our side, entreat the English press to give this announcement every publicity.  Let us do everything in our power to make this “call upon the Americans” well known in England.  I hope English newspaper editors will print it, and print it again and again.  It is not we who say this of American citizens, but American citizens who say this of themselves.  “Bull is odious.  We can’t bear Bull.  He is haughty, arrogant, a braggart, and a blusterer; and we can’t bear brag and bluster in our modest and decorous country.  We hate Bull, and if he quarrels with us on a point in which we are in the wrong, we have goods of his in our custody, and we will rob him!” Suppose your London banker saying to you, “Sir, I have always thought your manners disgusting, and your arrogance insupportable.  You dare to complain of my conduct because I have wrongfully imprisoned Jones.  My answer to your vulgar interference is, that I confiscate your balance!”