Letter From Alex. H. Stephens

The líaymond (Miss.) Gfazeite publishes some extracta f rom :i private letter wfilton by Vice Prqgident Stcphens to a resident in this city. In reyiewing thé atulity óf the South to maintain the stand it lias taken and held for the last twö years, the Moe President says : We can, without doubt, subsist our armies just as long as the Federal government shall continue to wage this crusade against us, if we properly, jüdiciously, and wisely avail ourselves oí our resources. They are abundant, if prudently developed, hnsbanded and applied. No equal number of people on the earth ever had more of the ossontial elements of war at hand than we havo. Internnl resources for subsisitence are soine of the cliiefet of th6Bö. But the dovelopment of these needs looking to by those wlio duet the war, quite so mueli, if not Inore, thnn the rnising of annics. I gave a close attention to the subject in the beginning of our struggle, and was well satisfied that wecould iftarniain the war in our detanse as long aa the enemy conld prosecute it for our subjugHtion. prederiek ot Prussin, defended his kingdoin in a seven years' Ptruggle afirainst all the combined power. 'J'he o3ds Bguiüst bina in fighting men were three to one - vet his delense was vu:cessfal ; and not only thia, but at the end of the war, did nol owo a dollar. - This shows whiil inay and can c:m bo done, for hi kingdom was far inferior tf our tarriiory in those interna] resources essenttal to sueuess in war. - All thnt ia wanting with us, under n kiüd Frovidenoo, w the saina hraina to manage and mould our resmircos 'bat ekvated thoso of Prussia. Every ciiürtry of the country n;w in the agricultura! line should he vigor onsly applied to the product ion of food and clothlng. For while I run sa'i-ficd we possesa the rneans to furnish the necessary supplies, &c, I am equally satisfied tliat if they a-o. not promptlv and efficiently nsed the nupplies will I fail, and then failuro will ba attended witli disaster.