21 JANUARY 1865, Page 3

The Richmond papers are seriously discussing the step of abolishing

slavery and asking for the protection of England or France, rather than submitting to the North. We do not of eourse mean that such a policy as yet finds much favour,—on the 'contrary, the Richmond Sentinel has been bitterly blamed for even starting the idea that any such necessity could be imminent. But all the Richmond papers are depressed. The Richmond Examiner speaks in a leader of the "thin and wasted line of Lee's immortal veterans," and advocates taking away the right of Mr. Davis to exempt from military service as the only chance of recruiting them. 4' If we suffer that line to waste away too far,—then come deluge -and chaos, and (for us) the end of the world." The Committee on Finance of the Virginian Senate were directed to inquire and report "what action, if any, be necessary by the General Assembly to protect the bonds of the Commonwealth from ruinous taxation by the Confederate States Government." The meagre sheets (of two sides only) issued at Richmond have no inconsiderable space occupied by advertisements minutely describing runaway slaves, supposed to have attempted desertion to the enemy. One negro boy is described as "of light gingerbread colour," another as 4‘ brown black," who "looks simple when spoken to, and often curls up his forehead when addressed," and so on for a long list of fugitives. They read oddly beside the appeals on behalf of freedom .and independence.