The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1861-03-16

A.
Nj AZ esea. difficulty in the Confederate States
lnerican seems to be the lack Of money. -
r,s,, in this particular, the machinery moves
.ssa, the slightest jar. And to remove this
,s,.e, ala~ has jus. been passed authorizing
,..dsn. Davis TO borrow, upon the bonds of
= t~ Republic, Fifteen Millions Of Dollars.-
d, IN the laws Of the government, it passed ,a
~ a The utmost unanimity, precisely as a law
.,,,a mass to capture Fort Sumter In week.
= stout any consideration as to whether or not
: !, xheuc might be practicable. Having pass
= ds law to borrow, it becomes pertinent in
/ rxto who is to lend, and we apprehcnd
2 =, President Davis will find more difficulty in
.vasac the fifteen million than the Congress
y,aa giving him authority 90 to, do. s. 6ss,
Some years sAce, when Mr. President Davis
~. private citizen of Mississippi, that State
.,vra largely into Bank speculations, and issued
n bonds to large amounts, SO as to secure a
Inn two millions, as she proposes to do again.
Ia things progressed swimmingly, and the bonds
w bought and sold at large premium. But
: ,Sdenly crash came, and the bubble burst
: Ind the State of Mississippi being called upon
U o.y some Of her bonds, Gov. McNutt, in
pecious argument, proposed repudiation. To
credit Of the Legislature be it said, the pro-
|. sal vas scorned, but at the next election, Mr..
,ssr:on Davis travelled among the chiyalry.
\ riA rsiiation as his platform, and was sus.
.asi g the people. Subsequent attempts
.r been made to secure payment, but all sig
~ filled; and Mississippi stocks to-day, are
aading in the money markets of Europe
slnsrica--not worth the paper upon which
esr written. In the face of these facts, we
rshend that foreign capitalists would hesitate
trst their money in the stocks of nation |
~ head is Mr.. Jefferson Davis, of Mississippi. |
he seeding States are looked upon by the
fvus Of the civilized world, who are able to |
more clearly, and judge more impartialy of
prescnt difficulties, than we who are con.
,sd With them,-as foolish children, who have
rseessly ,ebclied from the best government
hon earth Aud they await, az the only plain
Iutr, be putting forth of the strong arm of the
kwnment, to maintain itself and to put down
belion The system of slavery. which is the |
u. Of the whole secession, meets with no SYM
|ay from them, and they are able to see the
asads of the South of new guarantees to it,
extension of it into the Territories, and con-
ierng meO as property, in all their bare cnor-
p better than We, who are apt to grow cal
h and Indifferent. In such state of opinion,
Ro,hsehilds and Barings would hardly ven.
ne their money.
fhe expectation must be, to borrow the mo
RT from their owa people, by what is little less
aaio ioce,-a proposition to them to take por-
lions Il the loan, which they dare not to refuse
nn h4r of a suspicion of luke warmness, and
rnooyances which must follow Such sys.
! nav succeed for while, but with only a
MI tariff, and a large portion of the people
sruous to repeal even that, and With the fear
Northern coercion requiring large standing
rs TO repel it. fifteen millions will soon be
n and without paying old debts, the govern
I n,must contract more and greater The peo-
ewill soon learn the blessings of an indepen
1 lknt government to their full satisfaction.
-O- |