The eastern clarion. [volume] (Paulding, Miss.) 1837-1863, 1861-04-12

Yesterday the new tariff of the North
EN- States went into opefation--the meas
ure MlAiala. AaA rrasairegt nlal.a a. ssiaa npto-
rietv a. the "Marriil Tariff Comparod
with the tariff now in operation in the
Confederate States the average rate of du-
ties appears very high. But when we
compare it with the new Southern Tariff
proposed at Montgomery, and which will
be adopted as soon as the Congress re-
assemblies there in May, the difference be-
comes still more marked and oonspicu-
Gus. 1t is estimated by the New York
HsralS that the scale Of DATES averages
about double the Southern scale. In 9TH
er words, a cargo of foreign goods that
would have 20 pay one hundred thousand
dollars duty in New York can be landed
at New Orleans by paying only half the
money,
1t IS easy to see what will be the result.
Not only will most of the importations Of
the country be brought 10 Southern ports.
but the Confederate States will collect the
revenues arising therefrom, and thus have
plenty Of money, while the North will be
without means to carry on its Govern
ment, and its vast army of importers and
factors. who have grown rich in the busi-
ness, will be broken up and dispersed.
Already they are becoming alarmed, and
calling upon Old Abe TO convene an extra
session OF Congress 10 repeal the ohiec-
tionable measure; but Old Abe is too
busy parcelling out the crumbs and dry
bones, which grave the Executive table,
to the bcggars standing a. his gate TO give
heed TO any Of the grace duties and re-
sponsibilities of the Presidential Office,
Besides, several of the States have not
elected members TO the next Congress,
and some OF them do not elect until No
veniber. And thus, at best. only about
half a Congress could be collected, aud il
would consist mainly of those who voted
for the Morrill, Tariff, and would feel
ashamed to undo the work which they
had deliberately done n few months be-
fore. Ii is a curious illustration OF the
lack of all practical statesmanship in the
Black Republican party that they cannot
frame an important bill having reference
20 the revenues OF the country without
doing it so awkwardly and clumsily that
they have to pull il 10 pieces and recon
struct il almost before it goes into practi-
cal operation.
Even If they repeal the Morrill, Tariff,
and come down 70 the rates of the South.
ern Confederacy. the South would still
have the advantage. No matter how low
the Northern Union might put its rate OF
duties. the Southern Coniederacy can put
theirs down still lower, and keep the ad-
vantage. If they should continue to uu.
derbid each other until both arrive at ab.
solute free trade, 80 much the better will
II be, comparatively speaking, for ths
SotfJs-.and so much the worse for the
North. AT iSss->Ye have the bulge on
the North, and it is olr-4rRstegest a. well
as our duty TO keepit.
IL is a noteworthy fact that on ~,
same day the new Morrill, Tariff Of the
North goes into operation. their Secretary
of the Treasury, Mr. Chase. ADVERTISE loi
fresh loan OF eight millions. 1t is only
about six weeks since the iast eight mil
lion loan was effected, and now here
comes another one for the same amount.
Although, a few years ago, United States
securities were up as high as one hundred
and sixteen per cent. above par, the eight
million dollars worth of bonds in Februa-
ry were sold at very little over ninety
depreciation of twenty Ave per cent
What the new eight million will be taken
at, or whether it will be taken at all, re.
mains to be seen. Capitalists, when lend
ing money, have an ugly habit OF looking
at the security, and calculating the chan
ces of repayment. The prospect, in the
present case, does not appear particularly
brilliant; and If il is further. understood
that the money 70 be raised Is to be EN-
ployed in making war upon the South,
the difficulties in getting the loan taken
will only be so much the greater.
A few years ago, when Pierce was Pres
ident, there was such a superiluity of cash
in the Federal Treasury, that Mr.. Guthrie,
the Secretary, WAS bothered 10 know what
10 do with it, He at last hit upon the
expediept Of buying up the Government
bonds before they we're due-paying q
premium for the privilege. Governments,
unlike individuals, are not in the habit Of
laying up anything for a rainy day, or else
Old Abe would not be in the Strengthened
circumstances in which he al present finds
himself, with no pecuniary oil wherewith
10 grease the wheels and cogs Of the Fed
eral machine. As ii is, his Government
is nearly one hundred millions Of dollars
in debt, and yet has to keep on borrowing
with no prospect OF payment ahead, and
with a credit almost ruined-all Of which
has happened in consequence Of iDaugu-
rating the ''irrepressible conflict" where
by the South was 10 be put down and her
institution OF slavery destroyed. We do
not wish the Northern people any harm.
but we trust their present difficulties viii
at least have the effect Of teaching them
some common sense and some regard for
the claims Of justice and right.-N y.
Crescent