Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1861-11-05

az, lsAe1l that rs done, 40 long as 1t PleGse'
God to gre ne poiee to ezpress nay scRti-
.aeuts, or az ann, areaE and enfesbled as ii
may Be BE- age. that DOios and that arm lpiH
be on the side of my country, for the support
o5tAe general authority, aud for the mamie.
nance Of the POrers Of the UniOn.-[ Speech
of Henry Clay, August LIST, 1850
We published, few days ago, an article
from the Richmond Whig, which presented
rather a sorry picture of the condition and
prospects of the Confederate Treasury
We printed yesterday, the very interesting
address of Mr. Memmiuger, the Secretary
of the Treasury, to the Commissioners ap-
pointed to receive subscriptions to the pro-
duee loan.
1t would seem that the subscriptions
have stopped. and that some of them have
been made on the suppositiOn that the gov
eminent was to sell the produce. Mr..
Memminger corrects the mistake on this
point, and begs that the subscriptions may
be continued. and extends the time for the
sale. He does not intimate who is 10 buy
when the time for the sale arrives. The
Memphis Appeal says there is nice ques-
ton whether the address does not silently
wink at the expectation of cotton during
the blockade. No doubt the planters and
factors would hail the opportunity. But
Mr.. Memmiuger has not just yet the pow
er, If ne has the desire, to do anything
more than wink" at the expectation.
But the most impotent fact revealed by
his address is the fact that the planters are
reduced to such state as to seek aid from
the very government which is seeking aid
of them. The government wants one hun
dred aud seVenty-fiTe millions to meet its
current expenses, and when it asks the
people for the money they very coolly ask
their supplinnt government to fill their
pockets first. They suggest the plans for
their relief, either of which would be very
acceptable to them. One is, that the gov
eminent buy their whole cotton crop, the
other, that the government make an ad-
vance on part of its value. OF course it
was not very difficult matter for Mem
miuger TO show them that the government
cannot entertain the idea of adopting either
plan. His reasoning Is perfectly conclu-
siVe on the point. We need not repeat it
here.
he proposes that the planters shall find
relief in raising grain instead of cotton,
and in drawing out the capital now in
banks and private hands. He tells them
very plainly that what the government
wants is not planters notes or produce,
but money. They must not lean on the
government. The government depends on
them. He tells them, in fact, to go to
work and raise some money, or else their
government will be cramped. There is no
doubt of the correctness of his representa-
tons. The government cannot use the
planters cotton or their notes. But it IS
equally true that the planters must be in
capable of advancing the government n
great deal of money. They habitually
live on the coming crop. They have not
been able to draw on their factors for
any of the two hundred millions dollars
worth, which now lies piled up on their
plantations. They are out of money.
They cannot contribute to the government
treasury until somebody contributes to
their pockets. The Richmond Wing says
that the regular taxes cannot be paid
without driving the banks to an unsafe
expansion. When the people and the gov
ernment are both in want and are begging
help bleach other, how are they to extri-
cate themselves from their difficulty, unless
they nave the talent of two Yankees who
made money BY trading jackets with each
other all day2
II IL maxim Of modern warfare, that he
who has the longest purse, wins in the
sud. Fighting in these days cannot be
carried on without an enormous e1psndi-
ture. The South has shown extraordinary
skill in managing her affairs thus far. But
time brings sorer trial to her than she
has had yet. Her power of endurance is
now 70 be tested as it has not besn.n IF
she can carry on war against US without
money and without credit, she will deserve
sHsn higher praise than she has claimed
f6F herself But the recent Intelligence
Gromrebel sources Of Information, indicates
IstbeF that she q in 4 desperate anancfaI
IErAIE, and that the way Of her escape ls
lotslo1Fto her leaders!