Correspondentie oí the Ni Y. Timos. Lnndon, Fob. 21. 18G3. American affairs aro ñlluded to in Parliament, as last tlight, in ennnection witb the Laneashiro distraes ; but thero will bo no debatu of any consequenco nntil wo hear of the res uit oi the French offer of medialion, if it amonnts to so ruueh ; and nest, of the pending military operations. It may be that nothing will be done ; bui you must be too well acquain ed with the constiUition oí deliberative bodies, not to expect that a good deal will be said. The opinions of th o governing classes will ünd espression at least, whether any áction (ollow or not. And something inust be done for Lancashire. The rate-payers are becoming rato-receivers. - Thousíinds upon thousands are beooming1 pauperizd. You can have no conception of such a ealaraity as loss of employment for years together to a masa oí half a million of laboring peopie, wiih thè loss of their wages to the trading and mechanic classes vvho suppl.ed their ne?essities. Two months havo nearlv elápsed since the issue of tho prodamation. - Those whrt wi re sanguino of ita imme j díate efficacy begin to gíow imputietft. I look in vain for (lews oí insurreetions among the Southern slaVea. It was aseerted last otght in Parfiament that tlioy would fight, if at a:l, oá tlio èide of their masters. It is to be secn, whethcr they will evei fight againwi them. We were promised that as soon as the proclamation was issued volunteers in great nuuibers would flnck (rom the Northern States to the standard of the Union. Where nre they ? Will free negroes volunteer to libérate their brethren ? The're are net ten lbousand free negroes in the whole North who ill do so, I cannot see that a black urinv it) tho Souih will have any better succega than white armies have bad hitherto If the Union is ever restored it wil! bo by white men nd not by negroos or for ne'fcroes. - Mr. Wendell Philips it is baid, is for hauging or banhstaing evcry Southern slave holder. Véry right and proper. They are traitnrs, and fuch is the proper punishment of treason. But Mr. Philips must late thera first. Then thuro are a few millions of Southern tren vvho are nut plaveholders, but wh'o are to all ap pearance, as groat traitors and as deserving oí banishment or tbe lialter as those who own flaves - or who did own them before the issuo of the proelamation. All these men must bo killed or conquéred - and wliero is the army tbat is to do it ? Is it the torce on the Potornao? It is said in Con.gress that fifi y thousand men ennnot be raisod in the Ñorih by draft or otherwise. Mean time, the army in the field is wástihg away by dèsérlion'9 and ease. Titna, which etrengtbens the South is ruining the North. Banka and Hooker are experiments; wa do not èxpeot too rnucli of them, because we dread to be dísáppoiñtéd. General Rosecrans, hom I know something of is an estimable and reliable soldier, bnt not a graat rnan or a great General. Succësa at Charleston and Vickeburg wil] give hope to the nátirnal oanse - but BSJther nor both will win it. - Thora will bo armies to be conquered and a vast terntory to bo subdued. In Europe, this is tho aspcot oí the war. This, I must frankly say, is the way it looks, even to the strongest Union man acrr.ss the Atlantic We ei e no govermnent, no generala, and rio rtuüli unanimity cif fecling and dovotion to the country in tho North as c.r.n give us hope of' a s-)uudy sacce We see, morcover, a struggle coming in the Nnrth bet ween tlie soveixigity ot the States and thfa general government. New Jersey, Indian 1, Illinois, Iowa, show signs of resistance to what thov look upon as national usurpation. It is said that an efi'ort will be made to abolish State Rovereig-ity, and to mako ol the wl.ole Union a single indivisible R: public. That would be n greater revolution than that of 1776, I believe it could be acctrnplished O'ily by a general civil war over tho whole countrv, a dictatorship and a military despotism. In time America might become Consolidated, likc Franco or I it: ssia, and under a similar government ; but thoro iriust be found leaders fit lor ach a work, and followern ready to aid in its accornplishment. These havo not yet appeared upon tbo stage of action.