New-York daily tribune., 1861-11-01
FINANCIAL TROUBLES OF THE REBELS

FINANCIAL TROUBLES OF THE hEBELc'
From The Biahnond (FaJ WIG.
There Il a growing feeling OF uneasiness in the
country regarding the conduct Of our public affairs
Many letters We receive adlronsh us OF this iaci
One correspondent goes so far as TO say that thlf
feeling Of uneasness is augmented 10y the silence Of
tic lress. For months, while the War Department
YVES in hands utterly incompetent not m1rmur OF
complaint found lie way to the public ear through
tie columns Of the papers. The apprehension exists
IA view of the suegihness Of our operations, that
,nilar imperfeclions sti continue, and are sno'h-
cred over 10y the remissuess Of editora
There may lie something in ihis. we, IN common
with the press and people received the Adminisiri.
tion with open arms and uubOunt Cd confidence. We
al felt that our de slinies were linked with H. we
had ai,h ia iis ze wo had an aversion 70 dlstfus-
ing It's capacity FOR promoting our common WISHES
i he depl1Table consequences which Tesulied from
tbe rri.inken confidence IN the War Department are
sill felt aud may AZ this very time lie causing the
eu.l lrrassmeuts which shed such gloom over tie
laud There is however, another branch oil tie
public sersi,e, little lesl important than the Var
Depsrtmeut W ich attfacs public attention aud eA-
cites snai.ty--thnt wlich reltes 10 the ways AID
means fof defraying the expenses OF the war.
II i evident our expenditures cannot fall short OF
sJOJ 900 tOO. Wbat sNEedents has tie Secretary OF
the Treasury propo ed by which 10 rise this anonnt
of moneyT Ws are onlysaware OF the loan for
l I. ~ ~
ponery- hch only sl0,00o 900 have been taken;
| the pioduce Loan, which has yielded only sons
thousand bales II cotton, not yet sold and not hk'y
to be sod tho $1,000 900 treasury notes, anihoi
rizcd by tie last session Of Congress, end the d
re.t tax, which may yield sloOVOoD. IDS i tne
nm total and ON rs Ics does not reach one.half Of
the ineyitahls expenditure. The fsinre 10 reaiz,
ths Loan for tho whole OF the 600 proves mol
a want Of zeal among people, but The absence ol
money. NoIeople sre ricter In prolety bec' sssfs
to tie support Of ie bui not convertible lnlo pe'ie;
and hone have moro valuable products, when the
markets of The world arc oPen, but yhdele's under
existing circumstances.
! As - the proluce loan, we suppose every man
In The COhi.dency, EXCEPT the Secretary of The
! rnss1ry and Nc. DeUo~, is Conscious Of he utter
failure. The diIeci taN, when collected may rro'
duce 49, coo. Bat that, IN connection vita The
Staie taxes will require more than tie amount OF
money IN the hand- oi the people. Ibe banks VIII
20 tie only rec0use, aud they, 10 meet tho wants OF
the commauiy, viii be forced 70 e&p ana 10 POM
prohibited hy their charters, and endangen"B the
wodh o. their notes. The remain ing aud most COD
siderable item is the $1,000 900 oG treasa notes
Without ths iteIn supposed to be opposed to ali MI
MemmingeSs financial vIewr, he woild not nave
more than S23,OOOoOO with which 10 cohiionl
$3.50 010 900 Of expenditure; with u, 10 can oniy
nuier Sl5 Oc0 0Jo, lea,ing an unpro'ided dehet q
si75 600 cOp.
/, viii do no harm 70 look tho difficulty sousre in
Il will do no harm to look the difficulty square in
tho face. The war muet 20 ON. II VIII require
large sums Of money. The people who haye no
money are willing 10 mortgage every pariie OF
property they own To feed clo,Le, and pay the
army. Bat how does the Secretary OF the I.GCury
propose 10 raise the missing one huDated ana sew
enty y.iive millions The direct tax II already ae-
counted for on the other fide the produce loan eau
not be relied on for dollar; aud auy other mode OF
borrowing is wholly impracii6a0le IL per cent
stock is not taken neither would 20 per cent, and
,or the same reasonthe want OF money or ihe con-
yentional representative OF valne
IL will not do 20 pos, pOne this vital quetQa tlii
our armies are parlyzed for the wGn, OF money, %
they were six weeks ago for the want Of arme and
Ipowder. II Mr.. McTuminger can tight the war
Through without money, nobody would Do more re-
loiceo at il than we would be- but We do no, be-
ieye be or any one else can achieve impoubilities.
We know vast sums of money viii he necce 1ry 70
work ont this great came. II he has any other eX-
pedent for raising these SUM than by converting
The production Of the country into currency, viii
be a great relief 10 know what il is. Our eonNlc-
ton is that If wiss forecast Lad been exercised m
ths regard, tie Confederate States might riA
months ago, have had one hundred and htty or TWO
hundred Billoas TO theii credit II London, anu our
coast might now be guarded at all points by lron-
plated s,eAmers.
SLOW coaches viii not DO In revolutionary Time
The Yau KEGS arc issning indefinite millions OF Treas
ury notes based ou nothing but ne iaht nope oi our
Ifutiugti3p: md with then, though IN comp ettlon
wit eieliua iills they fancy they VIII be hbie 20
,ye oe sue, essfnl war AZ aiust lie. While we, who
Inye cotton bales aud tobacco hogsheads-weish
o.s-es. poliiicg M well IA financial value TO nihke
tlcm ITO ba Is IL Re best currency IN the WOIla-
feiase to prof b.'them.