When this crisis arrives, and it must be approaching, how can the Southern army retain in its ranks either the poor white, the foreigner, or the Northern clerk, whose sympathies have never been with the Confederacy? It may be said, that the Confederacy can continue the war by wealth accumulated in former years. But that wealth vested in land, slaves, or railways, now unproductive, or in banks whose funds have been advanced to planters still under protest. This wealth will not suffice to prosecute the war. Thus far it has been sustained by funds on hand, the seizure of national forts, arms, and arsenals, by the appropriation of debts due to Northern merchants, by supplies from Kentucky, Tennessee, and Missouri, and by the issue of paper already greatly depreciated. With these resources it has conducted a losing warfare while we were creating an army and a navy, and during this contest has lost three of the most important border States, nearly half of a fourth, several of its chief seaports, nearly all its shipping, and the navigation of the Mississippi. But it may be urged, Has not McClellan retired from his intrenchments before Richmond? Have we not fought with varying results successive battles around Manassas? Are not our troops retiring to their old lines before Washington? Have not the enemy again broken into Kentucky? and do they not menace the banks of the Potomac and the Ohio? Let us concede all this. Let us admit that our new levies are for the moment inert,--that we are now marshalling, arming, and drilling our raw recruits; let us concede that the giant of the North has not yet put forth his energies,--that, although roused from his torpor, one of his arms is still benumbed, and that his lithe and active opponent is for the moment pommelling him on every side, and has a momentary advantage; let us admit that our go-ahead nation is indignant at the idea of one step backward in this great contest: still it is safe to predict that within sixty days our new army of superior men will be ready to take the field and advance upon the foe in overwhelming force,--that soon our iron fleet will be ready to batter down the fortresses of Charleston, Savannah, Mobile, Vicksburg, and Galveston, the last strongholds of the enemy. And when his army of conscripts shall have wasted away, after their last flurry and struggle, where is he to recruit or procure a new army for resistance or offence? The South is now taking the field with all its strength; but when that strength is broken, what power will remain to confront the forces of the Union? The South has driven to the war its whole white population able to bear arms, and when that force is exhausted, at least two-thirds of the adult males of the North and the whole black population will still remain to sustain the Government, and births and emigration will soon fill the vacuum.