By her own energies alone, these losses can never be recovered by the South. Without aid from abroad, there is not the remotest possibility of prolonging the contest for another year, much less of establishing the Confederate Government on any permanent basis. And even with such interference, supposing it to be successful, the career of the new power would be brief, and full of trouble. It would merely exchange its position of equality in the old Union, for one of degrading dependence and subserviency to some one of the great European Governments. The system of slavery could not be preserved. The demoralization has already gone too far; and no French sovereign or English administration could safely venture to interfere in our quarrel for the purpose of upholding that institution. In the midst of a dissolving social organization, this exhausted and fragmentary American power, galvanized into temporary vitality by the sinister aid of foreign arms, would be compelled to undertake the task of determining its boundaries, defending its frontiers, and reorganizing its chaotic society. All this would have to be accomplished in the presence of a still powerful adversary, jealous of her own rights, and ever ready to assert them, as opportunity would permit, in the face of all opposition. European affairs are not yet so thoroughly adjusted, and the peace of that continent established on so firm a basis, that complications may not be anticipated at almost any moment, which would at once free America from the disgraceful trammels of foreign intervention. It is doubtful whether such a movement from Europe could be successful, even under all the deplorable difficulties which now beset our country. Let any one of those Governments lay its hand on the United States, and revolution would probably hasten to rear its awful head, and so arouse the people of the continent as to shake and endanger the very thrones which now seem to be most firmly established. The unfriendly blow aimed at us might possibly react upon its authors, and transfer to them the misfortunes and disorders which now afflict this country. So just a retribution is not beyond the probabilities of the present situation in Europe, whether intervention should come from the English aristocracy or from the French emperor. The instincts of the people, everywhere, are on our side; their strong arms may not be slow to vindicate the judgment they pronounce, and to follow the sentiments and sympathies which animate their generous hearts.