Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1861-11-15
Rebel Financial Statement.

A~NDNL 4 [A4s%AtNAesA h@D~NNS1AA~AA~-
One result Of the recent movement on the Up
per Potomac was TO bring into our possession a
copy Of the Lceshurg (Ya..) Washingtcniaa Of
October l9-a sound Secession jouInll, Of course.
The following Article, containing singular expose
Of the financial difficulties OF The Rebels, is copied
by the Washngtonian from the Richmond Wing.
--B0stoR .3.irocafe
..OUR FINANCIAL CoNDIrieN There is growing
feeliig af uueasiness IN country reg4I ding the
conduct Of our public af.srs Many letters we re-
ceiye sdm0aiSii us Of this fact. One coErespou-
dent goes far as To say tiiis feeling OF uneasi-
ness is augmented by the silence OF the press
For months, wnle the War Department in
hands utterly Incompetent, not rDarmar Of con-
plant found its way to the puoiic ear through the
columns OF the papers. The apprehension exists,
ia view of The sluggshaess of our operations, that
similar inperfecti9ns still continue and srnoth
cred over 5y the Tsmissness of editors.
DThere may 30 something in this We, Ia COM
mon with the press and people, received the Ad-
ministra:ion with open arms and unbounded con-
fiieuce " e all fell that desinies were linked
with il. We had faith in its zeali we liza an aver
sion TO distrustng it, capacity for promoting our
commod wishes. The dcpl0rahe consequences
which resulted from the mistaken confidence in the
Var Department sill felt, and may at this very
tlme be causing the en'arrassmeits which shed
such gloom the land There is however,
another brunch OF the pubic service, little less inn
p0rtant than the w ar Department, which attracts
public attention and excites anxiety-that which
relates the ways and for defrAying the ex
penseS OF the WIr.
sit is evident our expenditures cannot fall short
of three hundred millions OF dollars What
pedients has the Secretary OF the Treasury propo-
sed by which to raise this amount OF money! We
only aware Of the loan tor $1,000, 900 authon-
sed by the Congress at MontgOmery-of which
only ten millious have been taken; the produce
loan, which has yielded only sons thousand bales
of cotton, not vet sold, and not likely TO b. sold
he atafhoriz Il
by the last session of Congress; and the dir CT
tax, which may ied Is millions. This is the sum
total, and its face il does net reach one-halt OF
the inevitable expenditure The failure to realize
the loan for the whole of the fifteen million proves,
not a want of zeal among our people, but the alb
sence of money. No people are richer in property,
necessary TO the support of life, but not conveti-
bic into specie and none have more valuable pro-
duets, when the markets OF the world aIe open,
but valueless under existing circumstances. As to
the produce iuau, we suppose every man in the
Conieteracy except the Secretary of the Treasury
and Mr.. Dvllow, is conscious of us utter failure
The direc. tax, which collected may produce ST.
teen mili1ous. But that, in connection with the
State taxes viii require more than the AMOUNT Of
money in the hands of the people. The banks viii
be the only recourse and they, to meet the wants
OF the community, viii be forced 10 expand to
point proh JiIed by their charters, and enianger-
irg tie worth Of their notes. The remaining and
most considerable item Is the hundred millions OF
b. opposed to all Mr.. Memmiuger's fiaaBci5 views
he would not have more than % millions with
which t. confront 800 millions OF expenditure !;
with it, he can only muster I25 Millions leaving
an naprovidsd deficit of Us millions of dollars.
sit will do no harm to look the difficulty square
in the face. The war must 60 on. II sill require
large suIhs of money. The people, who have DO
money, willing TO mortgage every particle of
property they own TO feed, clJthe and pay the
army. But how does lh. Secretary of the Trea-
suiy propose to raise the missing l75 millions The
direct tax is already ocounted for on the other
side; the produce loan cannot be relied on for a
dollar; and any other mode of borrowing is wholly
impractieahle. Ii eight per cent, stock is not
Ken, neither would twenty per ceut-and for the
same reason, tie want Of money or the convention
al representative Of value.
''It win not DO TO postpone this vital question
tlll our armies are parayz for the want of mon
ey, as they were weeks ago for the want of arms
and powder. II Mr.. Memminger can fight the war
through without money, nobody woad be more
reioicel at it than wo1li be, But we do not
uel:eVe he or any one elsa can achieve impossible
ties. We know vast snns OF money viii be ne.
cesSary to WORK this great cause. II he has
any other expedent for raising these sums than by
converting the production of the conntry into cur.
Eency, il viii hs great relief to know what il is.
Our conviction is that, ii wise forecast haG been
ex rcised in this regard the Confederate States
might six months ago have had $50 or 200 millions
TO then crodit in London, and coast might now
be guarded at all points ny iron plated steamers
''S!ow coaches viii not do in revolutionary times.
The Yankees are issuing indefinite millions OF
treasury notes, based nothing but tho faint hope
of cur subjuaation; and with them, though in
competition with sterling bills they fancy they
Will be able to wage successful war against u.s.
While We, who have cotton bales and tobacco
hogsheads, which possess political as well as
hpanc:al ralue to make them the basis of the best
currency in the world, refuse to profit by them''