Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1861-02-22
The southern Treasury.

- We are informed that an important item in
the programme of the Southern Ooufederacy
is to empower the Secretary of the Treasury
to ACCEPT cotton in lieu of money for bonds,
and thereby raise all needful funds for Ordi-
nary and contingent expenses. But the
planters who thus surrender their cotton will
want some safer security than bonds Of the
-.t lr,i-s-.,t,lu stataa l.azar.aao5. .af saEan
States, one oi which already grows diseontent-
Cd and threatens to secede, and another Of
which gives popular majority Of over 300
against secession. Such country is not the
most reliable in the world, and the bonds
viii not be likely to be at premium upon
wan street. The States that compose the
Confederacy sre just the ones which have
been q vast bill Of expense to the United
States, and have been supported solely in con :
alteration Of their continued allegiance
True, the United States still pay the def
cheney which appears in the quarterly and
yearly exhibits Of their postal service, and
the seeding States generously intimate that
he General Government may continue her
fostering care, but this viii not always be So
JEFF. Davis says they do not want any settle
rnent, but war, and war only. Clearly, then
wnen war is declared and inaugurated, we
shall be justified in cutting of the system
which is so heavy tax upon US, until the
rebsllious States return 70 their allegiance.
These deficiencies win not be lost sight of
by capitalists, when they are offered "oon-
-
There are certain classes Of Northern citi-
zens to whom the South look for provisions,
but 70 whom these bonds viii not prove very
ssdnctise bait They are the honest sturdy
aQricnlturists Of the great Northwest, who
RIl their lungs with the free air Of the prairies,
and who have no extra sympathy with slave
~, that should induce them to buy what they
consider unsafe, merely to help along rebel
lion against the Union and the Consti-
tution. They VIII the rather hasten the
completion Of the Illinois and Michigan Ca
nal, by which their produce may be forward
Cd 70 market quicker and safer than by the
Mississippi.
90 The Southerners viii want also msnufac-
tursd articles, which they haye not the means
Of supplying themselves For these in great
measure they look to the North, and must
i. continue to do 50, Notwithstanding their cries
n Of ono more Northern manufacturer" Their
bonds viii not be in demand with those who,
as "Yankes pedlers" and q Yankee mechan-
ics,p hsve been driven out Of the South, and
who are Disseminated against in the sale Of
that very cotton upon which the bonds are
Issued
The members Of the Southern COnfedersCy
have been of a turbulent disposition while in
the Union, and the new relations in which
they choose to consider themselves, will not
improve their habits. Hence, as the dissen-
sions Of the States have tended 70 depreciAte
United States bonds, 50 the reputation of the
traisorous band win keep their stock at low
figure. ct home and abroad
II then. these bonds ara in demand neither
at home nor abroad, they viii be poor secu-
rity ioi the planters cotton, and although the
Provisional Government may, until the char
acter Of the bonds is fully understood, per-
suade the planters to deliver up large guam
tity Of cotton, and may raise funds from its
sale the people viii be vietmized, and viii
in the end rebel against such proceedings.