Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1861-08-07
/ THrs60frottIUAN

% TIss foowsHiny Witt notice II Tie speech e II Hon. a.
Stephens, delivered in Augusta last Thursday
foaf the CkrJ,cle and SeHst,1esN az 20
& .sAeef full review ii ile csuses khieG bare
duced the people ofthe UHited States to deny the
people of the Southern States their equal in
the Union, and now to mako war upon US, oyerturn-
inige their own liberties III the attempt and leaying
these Confederate States the only hope OF free gov
ernpent this continent, Mr.. Stephens then dfrcc
ted attention to the more immediate subject matter
upon which he appeared before the people1the
Confederate loan. He explained tie whole business
fully to his hearers SO that none could be ignorant
of the design andscope of the loan and the proba-
bilites Of the value Of the Confederate bonds, and
the uses to which they could be applied, The gov.
eminent needed money, and must have IT, but u
proposed to get il in q manner which would fall
l:gktest on the people. II asked now fort fifty mil
lons--perhaps in SIX weeks It might ask tor nun.
dred millions for IT was determined that We should
not be subjugated, until the last man and the last
dollar was had. avs -
n He had been asked If the bonds would be gooa,
and bis reply was, they good if We succeeded,
but not worth dime if we failed. : But if we failed,
land some people seem never thus to consider the
natter then the bonds -perfectly worthless
be just as good as any thing else re had, for, IN
that event, all values would topple into one com
mon ruin. He had been asked if the bonds would
answer in the place Of money. and replied that they
were not designed to circulate as currency, and
were not fitted for that purpose in every day trans
actions He believed that they would answer to
pay debts, and especially to money lenders, who IN
Georgia have some ten or twenty millions loaned to
individuals at per cent. He thought they would
be the best government stocks in the world, and in
wear or two should the war close would probably
bring 20 per cent premium, as only few years ago
u. S. skies were worth ZIG TO lit. His remarks to
the money Lenders were snch as they all ought to
have heard. Many of them no doubt think that the
note of their neighbor. whose property in land and
negroes and houses they can appreciate is better
than Government bonds, never once thinking that
no mans note in the Confederate States will be
worth the paper on which it is written, when this
Government fails, and its bonds become worthless.
Mr. Stephens had been asked how long the war
would continue He could not say, but 1t would
continue until the enemy were whipped and driven
out of the land. He old not think we ought to ex
pect short war, but that thorough preparation
should be made and the better We were prepared,
the shorter the war would be-. The reason why no
calculation couldkbc made Of the continuance of the
war; was that enemies we're acting contrary to
their own interests contrary to reason, fighting in
violation of the very principles on which we had
together fought the revolutionary war; engaged in
wicked, unnatural suicidal, fanatical warfare, and
therefore no standard Of reason and common sense
could be applied in judging the case. We must
rely on ourselves and must end the in the only
way left u.s. by whipping the fight, and driving out
the invader.
After paying deserved compliment to the patri
otto ardor, the ZEAL the DEVOTION the impulse udg
ment, and therefore the right Judgment, Of the
women. and urging the men to subscribe as much
as their wives told them, Mr.. Stephens closed his
capital address amid the loud applause of all pres
ent. No subscriptions were taken up at the time,
but committee was appointed to see all the cotton
planters, and receive what they felt willing and able
to spare for the good cause. Richmond does not
produce cotton largely, but she will do her whole
duty-having already sent ten companies to the
war; with two or three more nearly ready to leave,
while her ladies' have been in the foremost ranks to
provide for the comfort OF the soldier"