Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1861-10-30
Letter from Hon. c. G.. alemminger.
CONFEDERATE STATES OF AMERICA, Z:
TRt; ;sURY DEPARTMENT.,
Richmond: Oct. 18th. 1851

,DHUStff fIff"hS ~ SHC i'NULt i|srkN
Gentlemen Enquiries have been made
from various quarters
l. Whether during the continuance of the
blockade efforts should be made to procure
further subscriptions.
>. Whether the Government will authorize
promises to be held out Of aid to the planters,
ms an. nluccmcnt to such further subscrip-
tionS.
TIE first enquiry seems to imply :. lnisun-
derstanding of the scheme Of The subsctip-
tons. Many persons have supposed that the
Government. vas to have some control of the
|'produce itself; Others that the time Of sale ap
pointed by the subscription was to be abso
lutte and unconditional. The caption at the
headof The lists, when examined, viii cor
rect both these errors, The subscription is
confined to tie proceeds Of sales, and con-
iairs an order on the ca admissions merchant
or f:ac!or of the planter to pay over to the
Treasurer The amount subscribed, in exchange
for Confederate Bonds. The transaction is
simply an agreement ty tho planter to lend
the. Government 50 much money and, in or
der ~ complete tho transaction, time and
place are appointed when and where the par
ties may meet to carry it out. The impor-
TAFT point is, that it certainly sball he COM
pleted at some tiMe. aud that it is secured By
the engagement Of the planter Whether
that time be December or June is Simply q
question of convenience, aud works no injury
10 either party. The Government is sure oil
the eventual payment, and derives from that
Certainty so much credit; and it loses moth
ing, because it gives its bonds only when the
money paid.
1t is.ohyious, therefore, that the subscrip-
tions are qisite as valuable to the Government
during the blockade as after it. The block
ade simply suspends the completion Of the
engagement. 1t becomes the interest Of both
parties to wait for a good price, and the Gov
ernment will readily consent to postpone
ment Of the SALE.
You perceive, therefore, that it is desirable
to continue your exeatious to increase the sub
scribtions and you are authorized to Say that
the Government will consent TO Il reasonable
extension of TIC time appointed for sale
.. The next inquiry is as toa promise o.
material aid from the Government to the plan.
tiers.
In answering this inquiry, am to speak in
advance Of any action of Congress. What
that body may see fit to do, it is not for inc
to determine. can express merely the views
of this Department, and these must govern
your action, until reversed 10y d higher au-
ihori,y. Ii would be sufficient answer to
the enquiry, To soy, that the action OF tho
Government is settled by The Constitution.
No power is granted to any Department to
lend money for the relief Of any interest.
Even the power Of Congress i'll relation TO
moucy is confined TO borrowing, and no clause
can be found which would sanction so stu
pendous scheme as purchasing the entire
crop With a view 10 aid lis owners. But it
nay be said that the Constitution Of the Pro-
visonnl Government moy be altered by Con-
gress, and that it is the duty Of this Depart
nlent to prepare the way for such alteration,
if, in its judgment, tie financial necessities Of
the country dcuand tho change.
am, nYt dispuget, then, to tloae the Ell
Qairy with the abrubt anawcr thus made BY
;ac Constitution; snl will pr'ceed TO coll.
siilcr tho subject upou lis Intrinsic ':ferits
Two plans Of relisf have b"en proposed
The uuc j., that tbs Govern rnL should Pur-
chase th. entire crop If tbs country; tie
other that Ill advance .tbuull he made OF part
Of its value. 1u either case the payment Is
to be made by the issue Of Treasury notes.
aud therefore, If We put aside for the present
the many and serious objections to the pos
session, transportation aud management OF
! the crop by tue Government, it becomes sim.
ply question Of amount. To purchase the
whole crop would require lis whole value, less
the amount Of the subscriptions made to the
Government. If We estimate the whole crop
OF coltun al 2lOO0OgD and the subscription
ut jD.OaU,G00, ilc purchase would then re-
quire lj0e0o,aGO Of Treasury noieS, and, ii
to this sum DC added the amount of values
for other agricultural rodutts, which would
certainly Claim the same benefits, tho sum
required woull pr"bAlly reach l75,Qoo,QOV..
The amount called for BY the ether plan OF
making an advance, would depend upon the
proportion OF thai advance. Few of the ad.
vocalcs Of this plan have put il lower than
five cents per pound on cotton, and at the
same rate upon ether products. 1t inay,
therefore, be very lsilly set down at the l0O,'
O00.00O.
If we consider first, the least Objectionable
Of these plans, it is certainly that which re,
ouires the smaller sum and if this be found
impracicable, the larger must OF necessity
be rejected. Our enquiry, then, may be mar
/ o,.ol ,3oun m nronDsnl thst tho Govern