On foreign nations the influence of the proclamation and of these new
victories was of great importance. In those days, when there was no
cable, it was not easy for foreign observers to appreciate what was
really going on; they could not see clearly the true state of affairs, as
in the last year of the nineteenth century we have been able, by our new
electric vision, to watch every event at the antipodes and observe its
effect. The Rebel emissaries, sent over to solicit intervention, spared
no pains to impress upon the minds of public and private men and upon the
press their own views of the character of the contest. The prospects of
the Confederacy were always better abroad than at home. The stock
markets of the world gambled upon its chances, and its bonds at one time
were high in favor.

Such ideas as these were seriously held: that the North was fighting for
empire and the South for independence; that the Southern States, instead
of being the grossest oligarchies, essentially despotisms, founded on the
right of one man to appropriate the fruit of other men's toil and to
exclude them from equal rights, were real republics, feebler to be sure
than their Northern rivals, but representing the same idea of freedom,
and that the mighty strength of the nation was being put forth to crush
them; that Jefferson Davis and the Southern leaders had created a nation;
that the republican experiment had failed and the Union had ceased to
exist. But the crowning argument to foreign minds was that it was an
utter impossibility for the government to win in the contest; that the
success of the Southern States, so far as separation was concerned, was
as certain as any event yet future and contingent could be; that the
subjugation of the South by the North, even if it could be accomplished,
would prove a calamity to the United States and the world, and especially
calamitous to the negro race; and that such a victory would necessarily