New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-26
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That pious paper, the New York World, is much
exercised on the subject of the financial con ition
Of the Southern Gonfederacy. 1t is very much
afraid that the Southern States will come to grief
for the lack Of cash, Their military and civil ex
pensess' quoth the World, must enormously in
crease the burden OF taxation The World fur
Their distesses itself over the fact that the States
are heayilyin debit in their individual capacity,
and are unable 10 bear the additional burden Of
forty or fifty millions a year, which it thinks will
be required TO sustain the new Gonfederacy.
We appreciate tile anxiety Of our sympathising
ic6temporary but we beg it to dry up its tears.
Debt is rather d frightful thing, to be sure--but
when one has the cash to meet all liabilities the
Inconvenience is not so evident. That the new
Gonfederacy will soon have as much money as it
wants, and more too, we are entirely confident
In the first place it will not require near SO large
q sum as the World supposes, to meet the current
expenses of the Confederate States, even in the
beginning Of their independence We intend that
no money shall be expended by us except for le-
climate purposes and for value received. The
system of stealage which has for so many years
prevailed at Washington, will have no parallel
with usfrst, because public sentiment is against
it, and secondly, because is effectually prevented
by the provisions of our excellent Constitution.
Everybody knows how the annual expenditures at
Washington suddenly shot up, in few years, from
forty millions to eighty. 1t was the result of an
extraya giant style of expenditure, Congress voting
away the peoples money for every conceivable
purpose and with most prinoely recklessness. All
that will be avoided by us and the Government
| will be confined to an economic administration Of
its revenue.
But while we can easily raise enough money for
orr purposes among our own people, tits probable
that we will not be called upon for large portion
fat, but that twill be paid by the North. Under
the low scale of duties of our Tariff and the high
duties of the Northern Tariff, it seems probable
that the great bulk of importations will be landed
at Southern ports-will pay duties at Southern
ports-snd then be distributed all over the country
North and South The consumer finally pays the
duty, because the importer adds it on to the cost
And as the Northern people will be able to get
foreign merchandise SO much more cheaply through
Southern ports than Northern, we will probably
get enough out of the North alone to keep the
machinery of our new Government well oiled. It
will be curious spectacle, Messieurs Editors of
the World, that Of the North paying all the ex-
penses Of the Southern Confederacy, after having
made the South for SO many long years bear the
greater portion of the burdens of the old Union.
1t will be curious thing when positions in this
respect, reversed; and the North becomes paw
master not for the Union, but for the independent
Gonfederacy of the South. Will it not be that re-
tributiYe justice which sooner or later oyertakes
nations as well as individuals?
But how is it, in respect of money with the |
Northern end Of the old Union? Have they SO |
much in their Treasury that they can twit the |
South with her poverty, and make merry over
her supposed misfortunes? We rather think rot.
It has been hardly month since they had to Dor
row eight millions to keep the Federal pot boiling.
and yet we see among yesterday Geographic dis
patches, that the Secretary of the Treasury has
advertised for another loan of the same amount
When Government has to borrow eight millions
Of dollars a month, we scarcely think its people
should be throwing up the poverty of other Gov
ernments to them-and we would respectfully sue-
gest that il those people at the North who are so
much afraid the South will be involved in financial
troubles will devote small portion of their time
and attention to their own pecuniary affairs, it
would probably come nearer to being the correct
Thing for them to do besides being more profitable,
Their eight million loan in February was taken at
considerably less than par. What will be the rate
OF the new loan of the same amount with no
prospect of revenue from duties to meet its paw
ment, we leave Wall street to decide. The result
will soon be known Meanwhile, if the Northern
people and press will lei our affairs alone, we will
engage to let theirs alone. There is a tradition
that two men in Tennessee once made large for
tunes each, one by attending to his own business
and the other by letting other peoples business
alone. As Artemus Ward says, q the morl is
obyis'--tha conclusion unmistakable. If the
Northern Confederacy can get along smoothly aud
we honestly and sincerely hope
hat it may be so, as long as it makes no aggres-
ions upon the. outh-we will try TO do the same !
Town here, and we are net at oil apprehensiYe or
Harmed as to to the result.
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