The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-01

ticuaTs IL this new movement have reached us
yet. Senior Lerdo de Tejada is conyaiesccot from
the attack Of typhus fever which il was feared
would be fatal TO him.
The ProgfeSo Of Vera Cruz states that infornia-
ton had been received concerning the condition
Of captain Aldham, Of her Britannia Majesty's
steamer Valorous, who was recently wounded BY
a band OF thieves. The wound had increased in
severity, and, in fact, IL was considered so dan
gerous that 1t was supposed amputaton OF
the Captains leg would be necessary. The lady
who was also wounded was still 10 dangerous
state.
The cotton market was Arm Saturday with q steady
demand sudses about TOO bales, closiog within
uxSsDgeo OF 12xc. 1870 for miadlng uplands; the
latter figure for good grades The -four market was
inactive and the sales moderate, while prices
unchanged. Wheat heavy, while q fair
business doing including some sales for
export. Corn less buoyant and active, and
closed with the of the market in favor Of purchA
sers. Pork lid With nrmnsss, while sales
limited a, SIS 6ah $40 81 for mess and at tia 80
SIS for p ime Sugars active and hrm with sales
OF about SEQ lhds ami 3s4 boxes at full price, Coffee
drn with sales Of coo mats of Java at i6Nc ADD
- al lots OF Rio at fuu rates Fregnts steady,
w,lt modctnte engagements at unchanged rates.
and Their Loans.
Tomorrow is the last day for the bids for
the loan OF eight millions asked for by the
government at Washington, and to-day the
new Morrill, tariff goes into operation, which
will shut out the ordinary sources of revenue.
In a very brief time II be required nine mil
lions the balance of the twenty-five millions
authorized by Congress to be borrowed, and II
is probable the first proposition brought up in
the extra session of Congress will be loan Of
at least twenty Ave millions more, on the appli
cation Of Mr.. Chase. The government at Mont
gomery will offer for sale on the 18th inst. five
millions of fifteen million. loan, to be paid for
in full on or before the LIST of May. 1t will pro-
badly soon call for the remaining ten millions
and if the threatened war should break out be.
tween the two governments, this loan will be
followed by loans upon loans-loans without
end
Now what are the circumstances under
which these loans are asked fort
In the first place, both governments
are revolutionary, and are preparing to
plunge the country into civil war, against
the will of three fourths of the peo-
pie. Neither represents a majority, and
neither has any right to drag the country into
var. Neither, therefore, has any Legitimate
claim for loan, nor any right to saddle 1t
upon the community; and 1t may be a question
hereafter whether such loans shall rot be re-
pudisted by future government representing
the wtole people instead of beliigerent fac
lions. In the second place, the States over
which these governments are preparing to
exercise the iron rule of dictatorship are
already sufficiently oppressed with debt with
out rev burthens to weigh them down. The
debts of the several States of the Southern con-
federacy sum mp in the aggregate nearly
eighteen Millions much smaller amount in
proportion to population than the aggregate
debts Of the States Of the Northern confede-
racy, which reach the enormous figure of
STA, 600, 0O0-which added to city, corpora
ton and railroad debts; makes total of
$4,000 600. To this fearful sum must be
added the debt OF the Union, which will
amount to s1O0, 900, 900 when the whole of the
s25 1000 900 loan shall have been taken. The
total debt Is thus, In round numbers,
5000, 900, the interest of which, at six per
cent, is thirty-six millions per annum. Thus
are we rapidly following in the wake Of the
bankrupt governments of Europe.
The amount now due by the seven States of
the cotton confederacy is comparatively SMALL
but their new federal government has taken
measures to nearly double IL in a single loan,
which, if war proceeds, Is a mere trifie COM
pared with the debts which will be accumu-
lated in very short time. 1t must be con-
fessed. however, that the Southern coufederacy
has greatly the advantage of the Northern in
point of revenue and expenses, as we'll as secu-
rity for its loan. For the latter it has pledged
| tax On every bale of cotton exported aud the
coupons will be legal tenders for the duties on
| imports. And while the expenditures of the
| Southern government are comparatively small
for Office holders, it will receive, owing to the
| Morrill, tariff, the great bulk OF the imports,
| thus giving tremendous impetus to Southern
trade, and II will receive nearly all the duties
| which heretofore constituted the revenue of the
Union. 1t Is now receiving, IL is said, 100000
per day, or at the rate of twenty millions per
annum. What will Its receipts be when the
Morrill, tariff comes int operation9 In the event
Of war, as the North would be the invading party,
the expenses Of its government would be ten
fold greater than those Of the government of
the South. The President however, Of the
Southern confederacy, aud the Commander in
Chief Of its forces, has declared that he will
become invader in turn; but his plan Is not.
to burthen bis own people with the cost, bat
to levy upon the rich aud populous cities Of
the North, where there are ample stores of
provisions and accumulated wealth. In the In
vasion Of the South, on the contrary, Northern
army would have to take all its provisions
with it. for in the South Il would find no stores
of food and few cities to sack. The South Is