The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-06-05
Voluntary Contributions In suppert OIL the
We published, the other day, patriotic call
oe t,ov. gRowS, of Georgia, upon the people oil


We published, the other day. patriotic call
of aov. gaows, of Georgia, upon the people oil
tast great State for voluntary contributions
for tho support of the war. The scheme was
a most jndlcioas one. The contributions were
| 10 be deposited with the clerks of the counties,
20 be fled, as perpetual records of PATRIOTISM
in the archives of the State. While the young
men were facing the enemy, this proposal pro-
yided a means by which their elders might
render full as effective service. though at home
Bat the scheme contemplated gifts TO the
State, with no promise or expectation # reim-
bursement
The Southern papers bring US adviees OF
another proposition to the people for supply
| ing the funds requisite for the war. Ii 10
| known that the Confederate Congress has au-
shorized loans of sixty-fve millions in the az
gregate, for the expenses of the war ana Oh 'he
| Government. The loan is to be based on bonus
and Treasury notes. For the first loan OF
SO 00O, 900, the Congress levied ~ per cent
| cxno,t autv on cotton and pledged the pro-
coed. Of that duty to the payment OF the IN
,erest. and redemption of the Prineipai oil 'he
loan. Tho security is ample, for the natural
sxn,rt of cotton by the South is rearly TWO
hundred millions of dollars worth a year, ten
ner cent. on which would pay of the loan IN
one wear. and FIVE millions to spare. But inc
var NAV cut down the expectation very con
siderably: though certainly not to the meagre
6gure Of twelve and half millions OF dol
,,rs which would still be enough to pay the
eight pey cent. interest of the fifteen millions
| loan.
The ten per cent. export duty on cotton "ouio
certainly produce surplus over and above
the amount needed to provide Tor tue ni'eel
million loan. But the Confederate Govern
ment have thought it prudent not to rely Oh
that duty to give credit to the new loan ina
| has been since authorized, OF nifty mliliohs
| The fact is, that the Government has plenty OF
credit at home; but her planters, with whom
it enjoys credit, have their capital invested IL
| lands and negroes, and not III cash lunds
| Tn, desideratum has been how to use thi
credit with her capitalists so as to procure
money for her military operations. 1t Will no
do to rely on paper money to carry on the war
| Paper money is a spurious and dangerous sys
| tenn of finance, which, however it may answe
for a time, is sure to explode, sooner o
later. with terrible disaster. The object Is t
avoid too great an imitation of the paper circu
lation of the country by utilizing in some wa
the credit which the Government enjoys wit
the planters.
very simple process has been adopted b
which to effect this object. 1t is this, to ca
upon our planters and farmers to subscribe
the loan, aud to pay tifeir subscriptions,
in money, which they have not, but in crop
which they have. If planter subscribes
thousand bales of cotton, the Government r
ceives it, gives receipt for the number
pounds and stipulates to deliver bonds for t
amount for which the cotton is sold when t
D.. sale shall be made. The tobacco plante
may subscribe tobacco; the wheat and gra
growers, wheat and grain the rice grove
rice the inland farmer, beef and bacon,
the same manner; though these latter artct
so far as required for provisioning the arm
would be received at agreed prices and pa
n for in bonds or treasury notes at the time OF
,. delivery Of the produce.
l. But it is expected that the greater portl
: Of these contributions will be by cotton pla
r, ers, and thus the Government be put in poss
to sion of staple which would enable it to tr
es advantageously with European capitalists a
N Governments We trust that this loan v
"a be literally encouraged by the people of
re South. The success of the loan would it,
rs contribute n moral force to our Governm
t. equivalent to dozen great victories. No
to ing contributed more to fixing LoUis Ma
ed LEON firmly in his imperial seat than the
be thusiasm with which the French people s.
On scribed to his loans. Since the result OF
n first loan was proclaimed, the imperial thr
ed of NAPOLEON has been the staunchest &
DIG frmest of all the thrones of Europe, thou
m, some of them have existed by u prescript
Us right of centuries.
he The moral power which the prompt taking
IN, the loan would give would be great but
h materia power would be greater. What
on were known abroad that the Confederate G
of eminent owned and held a million bales
ed cotton i hat this large wealth should h
on been voluntarily donated by its own PEG
Al would be worth much to the cause but the
sc, session of fifty millions of dollars of a cash
IA pie, which Europe must have, would be VIZ
on more. The possession of its value in mo
IN would give much power to the Governm
re- but the possession of the cotton would ri,
IN more. Block AIDES and privateers migh in ter
OIL with the transfer of cotton from America TO
ed rope, when the business was managed betw
ge man and man. But if the Governments of
ted land and France, obliged to furnish cotton
on their operatives in some manner, should tn
ali selves purchase it from our Government,
zen protect its transfer over the ocean by their
rye yies, of what avail would be Yankee bl
AIDES and naval piracies The same ma.
said of tobacco, wheat, rice as of cotton in
ses aspect of the question.
:, We see much to commend and much to
nv for, in this proposition of our Governmel
ery receive subscriptions to her loans in the c
ras staples of the country. We see not only M
Il for the Government, but complete relea
., Southern trade from the trammels of bl
ON ade.
ow Conflicting Objects of the War.
on, 1t has already become apparent that
,ida | avn t,yo nor t;as amnpv our Northern enc