New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-29
OUR PUBLIC CREDIT.

Il The following interesting article is from the
i Montgomery (Alabama) Mail. There are indica.
4 tons everywhere throughout the Confederate
States that the fifteen million loan will be eagerly
taken up, as soon as the bonds can be issued. Fhe
fact is most significant one too, that these bonds
are in such demand at par, while those of the cid
Union with difficulty sold at about ninety cents
| in the dollar. And although Southern patriotism
has much to do with the aacrty with which these
4 bonds are offered to be taken, the certainty that
no investment could be safer has attracted to them
the attention Of capitalists looking only to pc
| enniary return. We invite attention to the en-
| tertaining article of the Mail, which follows:
THE CoNFEDERAeYs BoNDs AND CREDIr.--Noth
ing can be more gratifying to the people of this
country, than the comparative standing financially
OF the Confederate States and the Yankee Nation
1 Those who predicted, some months ago that we
| should not pc able to man and equip a Revenue
Cutter, begin to show signs of astonshment at the
| decadence of the credit of the people, who have
all Their lives, claimed the right to rob their asso
eiates and still at the indications of the con.
fiaence in the financial system of our Young but
vigorous government 1t appears that the world,
The moment We cease to allow ourselves TO be
plnndered. understands that We have q most re-
liable basis for material prosperity. The cold
Wreck" hawks about its paper and sells it TO Shy.
locks, at ruin0us discount; The young confederacy
intinaates loan of fifteen millions, and corpora
iIohs ana lndiFlQuais, men, women and children,
hasten to assure themselves of Il portion of it.
Within few days we have heard of several in
quirles to a large amount, for the Government
Bonds, although it will be late next month before
Sir. Nemmnger can be prepared through his agents
to offer them. One gentleman that we hear Of de.
sires to invest the snug of eighty thousand
dollars in securities so firmly based-otters desire
smaller sums down to the $50 bonds which the in.
dlstfoqs youth, who has laid up his pocket money
ana odd earnings, declares he will have. The SEN |
timent of confidence in this State least in the
Government and its proposed loan, is boundless
united states Stock was never SO eagerly sought |
for, as Confederate State Bonds will be- within |
three or four weeks And we trust every dollar |
may be taken by our olrS people, Capitalists from |
abroad would snap up the whole instante3 but the |
Secretary of the Treasury has most wisely arranged
TO dilfuse the amount through the masses of the
citizens OF the Coniedcracy. IT is right that our
people should have preference in the matter as
they certainly have the most ample means to alb.
sofb the entire amount
one other fact: We know it to be true that A
single wealthy gentleman Of this Confcderacy SUD-
posing that this Government might be, for the
nohce, straitened for means, offered to advance it
,tro hund7ed thousand cash. for purposes of de-
fence; and if necessary to have it increased bv his
trends to dCet6te that amount-the whole to be |
Wlth0ut interest aud at the convenience of the |
Government. He was informed, we learn, that the
government appreciated his patriotism highly, but
tha us means and credit were fully equal to every
demand upon them. |
:, Such facts are most significant Our present
government is, in the words of Senator Bayard
stne collective act Of the collective peopIe Of |
seven States and, he might have added, Inhabited
by people who equal the best in the world in |
paFiolism, intelligence and wealth. In short, in
the homespun phrase of backwoodsman whomI
we heard expressing himself about the young Con
federacy, Q day or two since-"age it and size it,
and it beats 'em ALL"