Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-09-21
IIST SE9yaSAN0E---A

LIST GSmrzzTTfisoS.
.ERArErYGIsd strides with which the LINCOLN
ths 2oth Pant seems to be drifting into bank
by it's exorbitaRt- extravaganza, has
escaped the attention of the people Of the
@EQIly conscious Of the deep in
2 b B.rostt = have in the result of the
J. B,wsa NJ America, they are keeping
- ss : financial, not less than 5
political and e5@ seS7@e
me London Times, OF the east, contains
a well considered article uPop this subject,
which, though not very accurate in some Of
its estimates, IS of considerable interest and
significance. II puts down the expenditure Of
the +. deraIists ia carrying on thewar as at the
rate Of about S375, Coz, 600 per esti-
mate that could we'll BE- increased by half again
without fear CT oYerreacbing the rue mark.
This sum is more than don5le The amount Of
cost occurred by Great Britain during the
basYisst year OF tue Crimean &r-wbich the
Tfniss tbirks viii olreaeh no-e than Sl72,-
100000. It does not fall very Tar snort eithsr
Of Tie whole amount borrowed by uat gov
eminent d1ring the nine years Of the American
war. from 1774 to 1888, which msy be Paced
at about $500, 100000.
But as the Times properly remarks "the
bqrden Of The loan depends not so much on
TIE mount Of principal as on The rste OK in
~terest.D a tru.h which bears with crushing
weight upon tie Lincoln government. Eng
.fand generally borrows money at between four
and i've per cent, and aas obtained it, as in
1886, at = little over three percent. The Fed
eIaI authvrf les began BY offering docble this
amount, asd cannot probably at present make
55sa NE sales q their shinpiastsT currency at
less han sroIn twelve te fifteen per cent dis
count. Proceeding Al this rate, The fanaticol
concern al Washington could, IN less than ise
years, be saddled vita debt equal to that in
CURED BY England duriIg Oas century and a
half.
The inability of the North TO shoulder this
vast debt, and the indispOsition of the people
to tolerate 5urdensoms taxation any great
length Of time, are ,be Chief reasons which
seem, In me opinions Of the English press, to
foreshsdow the financial ruin OF the Yankee
5ssp5t;sm Tie London TYmss thus suns
whst itregaFds az the chief difficulty that is
likely to operate as a check upon toe progress
Of The war
Itis Oh .fous to remark that the war may not
be Carl led ca 50 long, or continued at 90 heavy
a cost: and. indeed, the eNOrbitsnt pToPcsi-
tions efaConeress were probably based upon
The assumption tba. the way to make short
work was to 20 TO work GnspaTlngiy at hrst.
Bat the history Of the campaign up te the
present point contains little TO suggest a spec
dy termination ef the struggle. The southern
ers are mo- likely TO s~uccUln6, nor tie north
eruers to retire. Neither is it 81 all IN accoT-
dance With experience IN these matters that
the cost of a war should be diminished as 1t
gees on. The scale Of operations, indeed, as
esr as resolutions 20, has been actually extend
Cd. The last mail tells US that the volunteer
bills passed bY Congress empower the Pres
dent to call one million men into the he.d, and
it was supposed that those plumbers would be
actually raised. Napoleon had not a larger
army when be crossed the Niemen with The
most prodigious host ever seen In modern days.
We cen detect no sign, therefore, or any cur
taiiseRt in the Dimensions Of this eXtraortina-
ry war, though We may well doubt whether the
Americans vii find themselves able to borrow
quite so fast as they desire. They have evil
IDENTITY the willie rival The most reckless OF
States in this rujnous race, bus they may not
have the power. Their credit is already but in
different, aud the terms Of the market are sure
to become less and less favorable as loan fol-
lows loan.
ca OF late years, says the Richmond Wing,
d great increase has taken place in he manu-
factory Of cotton goods in Russia. Five hun
died factories are in operation in the Empire,
running 10000 spindIes and employing more
that 100, GEO operatives. These factories pro-
ducs ever 4O,OCO,0GO pounds Of yarn and cot
ton goods in proportion. The Russians have
taken to this line Of business with great spirit,
and a determination 20 push it to the utmost
It is this new AID Increasing business which
gives Russia a more sentimental interest in the
Southern Confectionery. She has recently en-
pressed her wish for the preservation of the
Union, and coupled it viii the expression Of
opinion that tie South canuot be conquered,
aud it is folly to attemp. il. 10 the present
desperate fortunes Of The Lincoln concern,
Seward catches at this equivocal sign of sym
pa'hy, and affects 10 be greatly delighted with
tie patronizing tore of the Russian Autocrat.
Inst PotsHtate, if be has d nundred thousand
dependent on southern cotton. will
very soon let ths Yankees know that be holds
them very ehoapiy.
a+C5L R. J. Morgan, Of THIS city, has
been commits toned By Gen. Polk to raise a
regiment Of Tennessee volunteers for twelve
months service in tne war. He expects his
regimen. to be composed mostly of companies
that are already organized, aud thinks he will
be able 60 procure a Sufficient number Of mus
kets to arm them in good style. He will max
q good officer, and We wish him success.
PosIrtoN or MrssIssrrPI REGIMENTS.
Toe Oh and 10 h are at Pensacola he lith
add I51h are in East Tennessee the ID, 70 b,
18Th 10Th 17.h, 18Th, Is b, and lst Mississippi
battalion. are at Manassas. Col. BoHham's
independent regiment has been ordersA to Mis-
s9uri, and Col. Dan R~ussell's regiment is at
LyEchburg en- route for Manassas.
~ Ike Richmond Eranliaer of The Is.h
inst, learns that the government has shipped
no less Than tw~enty-eisht co.umbiads to New
Orleans, to be applied 10 its coast dcfeDses.
This is a good example of qramptness and
energy. The Eraminsr says here have been
also large shipments to other ports of the
coast.
e. The Mobile .A5Uertiser ond Register
learns That Gen. Henlingsen has been sP-
colonel N the Second regiment Confed-
e5ste States Infantry, attached to Gen. Wise's
command ia Virginia, ard that Col. Frank