The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-05-29
year were, OF
S55,Is5,5iG

Besides this list sent to foreign countries, We
hsye all the articles whichwe have been IN the
habit Of selling to the North, which did MOI
enter into the tables of foreign commerce,
amounting probably, exclusive OF cotton To
mt least hundred millions Of dollara.-
In short, the values held annually by the
South for expectation to Europe and to the
North are not short of four hundred millions
Of dollars. of which two hundred ard seventy
five or three hundred millions are articles IN
such demand abroad as to be always oquiya
lent to gold and silver.
Here is basis of cash values which certainly
ought to sustain any system of finance which
the emergencies OF the war may call into re-
ouisition and the problem for the convention
Of bankers is 80 to utilize these values as to rem
der them available for the purposes Of the war
Happily for the cause of the South, there will
be no question uhether these cash products Of
tho South can be used for the public benefit.
Our cotton, rice, and sugar planters have long
ago put that question to rest They have said
70 the Government, "tase our crops; use, cin
ploy, convert them in any way you think best
for the cause {; we place them entirely at your
disposal" The Government. therefore, has
only to take such portions of these crops as it
may require for its purposes. giving receipts
for the number Of pounds taken, as evidences
Of Indebtedness for future settlement. The
fnaLciai convention has therefore no problem
before il for solution, except the single one
~. Al. 4 4 l.,
public disposal. Probably no country was
ever before go fortunate as the South in the
possession Of resources Of credit 80 intrin
sically valuable and so readily available fol
and perfectly satisfactory solution of this mos
important problem of the war, from the assem-
bly, of fnanciers about to be convened.
The resources we have enumerated ar
those which the South possesses over an
above the ordinary ones which belong I
her in common with all other nations. Sh
has, besides these extraordinary values, be
vast landed estate, her personally, and 1t
representatives Of wealth in all its ordinar
forms, She has her FIVE hundred millions
acres of land, sixty millions of Thorn in
proved; worth twelve hundred millions of do
lars. She has personal property in warrior
forms worth O thousand millions of dollar
exclusive Of the value of her four millions
slaves. Had she no cotton, no rice, no t
bacco or naval stores, no export values whit
all the world is eager to purchase with gol
she would still possess resources equal to Il
demands of the most costly and protract
struggle. If, therefore, the recommendatio
of the financial convention about to meet
wise, aud they be adopted by the Confedera
and State Governments, we look for no trout
in solving the financial problem of the war.
Public debt will certainly have to be INQUIRE
but the war will be blessing to the South, co
pated with the weight and cost of that comm'
eial dependence and financial vassalage to
North, which the South has been grooming y
der for fifty years. The war itself will not c.
more while it lasts than that vassalage NO,
have cost the South during the same period
We save by non-intereourse what We expe
for the war. The drain under the vassala
left penury and paralysis behind the war "
leave independence, wealth, and bloomi
prosperity. Capital, by hundreds Of milio
will then resort to the South. Enterprise v
take up her abode in our land. Wealth a
industry will springup in the propi.ious atm
phere that will then surround them as our l,
urisnt vegetation grows up under the ger
influence of the Southern sun.