Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-04-27

Pecuninry resources Of the South. The property
of the South, the bad faith Of the South, the ina
bality Of the South to procure tho means and ma
eral for war, forms at prese ut not only the lead
ing staple Northern SANDERS but the main hope of
our.uItmate subjugaton. The mest clustering brag-
cart dares not venture assurances of to the
North on account of their superior skill courage
on the battle field. Not even their vast numerical
superiority is counted on as being sufficient TO crush
us. But all dwell with certainty and delight upon
the vastly superior advantages of the North, in
pecuniary resources. That the North has larger
means in resources already realized is undeniabe.
That they have heretofore enjoyed higher credit is
perhaps true. But this credit has been based upon
the fact in no small degree that they commanded
the resources of the South through their almost
entire monopoly of the commerce of both sections.
That day thank fortune has passed. The resour.
ces Of the South, win hereafter become the basis OF
the credit of the confederate States. Our three
hundred millions of exports, when ali the States OF
the South shall be included, as they soon will be
in single confedersted government, will form
guarantee for the payment of all the funds which we
.ha require to sustain us in this war, so long as
II shall please black rspublicanism to prosecute it
The revenues which we shall derive from ever
the most moderate duties upon our importations
will afford not only the means of defraying the or
d;nsrv exnenses of the confederate States govern
msnt but give us credit with capitalists in whate,
or mart of the world, on such assurances as Wi
may offer, for their application to the payment o
such loans.
The Northern government, or as it may still b
called the United States, viii have comparatively
but little foreign commerce. now that they hav,
driven the South out of the Union. They have car
ried our cotton, our rice, our tobacco, and what
ever else we had to exchange, for whatever mer
chandise we wanted. 1t has passed through theil
ports, as well our exports, as our imports, AM
gave to them therefore seeming right to all, as
basis of credit, as it has been, of immense wealth
But things have changed. Hencsforth all the adyau
tages will be ours, as they should be.
They must hereafter, rely almost exclusively UP
on direct tax alton for the support of their Govern
ment European Governments and capitalists wi
be very slow to enls rye their CREDITS especially
a Democratic Government which depends mainly ny
on direct taxation for Its support Direct taxaho
is opposed to the sentiments of the whole people
the States especially of the North, and would 500
drive them to reputation. The people of Pennsys
vania are perhaps as honest as those of any othe
Northern State. Aud yet, her name was. but fey
years ago, by-word and a reproach, in the mout
of every creditor and capitalist in Europe; and S
1t will be of Others when they are driven, as the
will be, now that they have lost the South to sue
a system for the support of the general government
Let no man fear that the credit of the Souther
States, when united, as they soon must be, will
insufficient to meet every demand.