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Effect of the New Order.

The promulgation of the new order by the War Department announcing a draft of three hundred thousand men, in addition to the volunteers already called for, has electrified the people. In place of depression and despondency, it has given rise to enthusiasm and confidence. The manifestation on the part of the Government of a determination to crush rebellion, and that right speedily, is more than equal to the announcement of a success before Richmond, or the taking of Vicksburg.

Everywhere, so far as we can learn, the effect upon enlistments have been magical. The question now is, not so much who is willing to go, as who shall be permitted to go. The recruiting offices are being crowded with enthusiastic and eater applicants for admission into the companies being formed; and we daily hear of new organizations being commenced. We now have reason to believe that Illinois will not only have its quota of 300,000 volunteers ready before the 15th day of August, but that it will have a large surplus. Of course, the first companies organized and reported under the call will be the first to be accepted. It therefore behooves all who desire to secure the acceptance of companies or regiments to employ the utmost activity and diligence, in order to render their organizations complete as early as possible.

At the same time that the loyal heart of the North is inspired with new hope and confidence by this manifestation of will and power its effect upon the masses in rebellion will be correspondingly depressing. The call for three hundred thousand new volunteers immediately after the series of battles before Richmond, is described by those who were then in the rebel Capital, as having struck the hearts of rebels with alarm. They have been encouraged by the hope that the call would not be answered with sufficient promptness and in sufficient numbers to enable the Administration at Washington to oppose any serious obstacle to their stupendous scheme of Northern invasion and plunder. They will now be convinced of the utter futility of their hopes. Doubtless many sympathizers with the rebellion in the border States, may be led, in order to escape the consequences of a draft, to unite their fortunes with the rebels. But the cause of Constitutional Government will be strengthened by the elimination from their population of an element which has so far neutralized the Union sentiment of the States.

The effect of the order upon foreign nations, and especially upon England, we believe will be no less decided than upon this continent. Already England has been alarmed by the display of military power and resources, which, without being able to understand, she has witnessed in this country. Sensitive to excess, on account of her Provisional possessions in North America, she has watched the progress of events transpiring here, with the utmost anxiety. Influenced by jealousy of the growing power of the United States, and by a mercenary press, the English Government and a portion of the English people have too plainly manifested their hostility to our Government, and their sympathy with a rebellion based upon the system of human bondage. That so extensive and unlooked for an addition to the already immense armies of the Union, will cause a most profound sensation there, may be taken for granted. But at the same time, we anticipate only the most salutary effects.

But we return to the contemplation of the prospect at home with new satisfaction. The loyal people of the North, upon whose efforts must depend the salvation and regeneration of our whole country, are aroused. They ask that this wasteful, causeless and destructive war, which is depriving so many homes of the brave and manly hearts which have heretofore been the protection and support of tender childhood, of loving and gentle womanhood, and trembling age, shall cease; and they intend it, even at the cost of the subjugation of rebels against a mild and just government. The Government seconds their wishes. Rose water politicians who cry out against subjugation, may as well be silent. Union sentiment will appear in the South when rebellion has been thoroughly conquered, and an oppressed and down-trodden people are assured of the right of free thought and free speech, under the protection of the Government. The people are responding with an alacrity and enthusiasm which gives promise that that day is not far distant.