Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1861-08-03
THE eoTToy loan

The following notice Of the speech Of Hon. A. Fl.
Stephens, delivered in Augusta last Thursday, is
from the Chronicle and Sentinel:
/" After full review Of the causes which have in
duced the people of the United States to deny the
people of the Southern States their e9nal rights in
the Union, and now to make war upon US, oyerturn-
ing their own liberties in the attempt and leaving
these Confederate States the only hope of free gov
eminent this continent, Mr.. Stephens then direc-
ted attention to the more immediate subject matter,
upon which he appeared before the people-the
Confederate loan. He explained the whole business
fully to his hearers tina; could be ignorant
of the design and scope of the loan and the proba-
bilities of the value OF the Confederate Londs and
the uses to which they could be applied. The gov
eminent needed money, and must have it, but it
proposed to get IL in manner which would fall
l:ghtest on the people. 1t asked now for fifty mil
lIons-perhaps in weeks it might ask for hum
dred millions, for 1t determined that should
not be subjugated, until the last man and the last
dollar was had.
He had been asked If the bonds would be good,
and his reply was they were good if we succeeded,
but not worth dime if We failed But if we failed,
land some people seem never thus TO consider the
matter) then the bonds-perfectly worthless-wonld
be just as good as any thing else we had, for, in
that event, all values would topple into one COM
mon ruin. lie had been asked if the bonds would
answer in the place Of money, and replied that they
were not designed to circulate currency, and
were not fitted for that purpose in every day trans
actions. He believed that they would answer to
pay debts and especially to money lenders, who IN
Georgia have some ten twenty millions leaned to
individuals at per cent. He thought they would
be the best government stocks in the world, and in
q year or two, should the war close, would probably
bring 20 per cent. premium, as only few years ago
U. S. skies were worth l16 10 lit. His remarks to
the moncy-lenders were such as they all ought to
have heard Many of them no doubt think that the
note Of their neghbor, whose property in land and
negroes and houses they can appreciate, is better
than Government bonds, never once thinking that
no mans note in the Confederate States will be
worth the paper on which it is written, when this
Government fails and its bonds become worthless
Mr.. Stephens had been asked how long the war
would continue. He could not say, but it would
continue until the enemy were whipped and driven
out Of the land. He did not think we ought to eX-
pect short war, but that thorough preparation
should be made, and the better VIC were prepared,
the shorter the war would be. %he reason why no
calculation could be made Of the continuance of the
war; was that our enemies we're acting contrary TO
their own interests, contrary to reason fighting in
violation of the very principles on which We had
together fought the revolutionary war, engaged in
wicked unnatural, suicidal, fanatical warfare, and
therefore standard of reason and common sense
could be applied in Judging the case. We must
rely ourselves and must end the war in the only
way left us by whipping the fight, and driving out
the invader.
After paying deserved compliment to the patri-
otto ardor, the ZEAL the DEVOTION the impulse judg
ment, and therefore the right Judgment, Of the
women, and urging the men to subscribe as much
as their wives told them, Mr.. Stephens closed his
capital address amid the loud applause of all pres
ent No subscriptions were taken up at the time,
but committee was appointed to see all the cotton
planters, and receive what they felt willing and able
to spare for the good cause. Richmond does not
produce cotton largely, but she will do her whole
duty-having already sent ten companies to the
war, with two or three more nearly really to leave
while her ladies' have been in the foremost ranks to
provide for the comfort of tn, soldier"