New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-09-14

i dollars, these notes, BY the war tax provided fol
their redemption, could be funded and easily pait
n off in a very short time IS -
proper state that according to statistical tables
II compiled by the late United States, the assessed
value of property in the Southern States, affected
by the tax in question, amounts to six Thousand
millions of dollars. Surprising an Issue Of Con
4 federate Treasury notes up to Sl00,0o0,0Q0, thI
4 same could be absorbed and extinguished by Con
1 Tolerate bonds to an equal amount, and bearing
get interest, as follows ,51 - a-a.-- ".
Confederate States Treasury Bonds issued, bearing
/ =. ret fnteres =. SlU0 $50 co
5000 eso0So at i 81. tsSss, $50 900 600
sury Notes at s.Co0.6oo-2a 600 90
:, ~, -, No., .'' $500 90
Set 3a.ooo.ooo .,s-
Gaptoo 100 %
50, 940soa
LES , sos.s pid % ssh 600 at 10y Wy
$50 s' Z .sse Sc
sough Year Tax on 50 600, oaogoqa at
paid on at $50.
t5o-Zl. ~ ooi
sss'.rs $ $50. 536
ih1,Fear-Tax on IS ooo,oon c9aat = ., "a, ana
paid on ss65d at sct & s2a
surpls at the end of the 9Th year after paying the
@-s'ue'- -Zi
| The estimate of the annual amount to be derived
\ from the war tax, as above stated SO far from
being an exaggerated one, is likely to fall short of
the reality, fnasmuch as a considerable amount of
property would probably be subject to this tax not
! computed in the assessment made by the United
States. For the sake OF argument, however, let
us suppose the war tax would produce only half of
the amount, above estimated, and even then it
will be interesting to realize how easily and
promptly the maximum issue of Confederate treas
ury notes can be provided for. This will appear
by the following table:
Confederate States Bonds bearing 500 600 os1 no
First Year-Taxable Property of
5000 900, coo at 4 Get. SIS 600 600 %
s. O0o. 900 O0 600, 900 90
ss8 600. 900 60
600 COS at u Fsc. ........ 10 900 900 % +m.
Interest on S9 10000 at st 4i0 600 O0 500 900 90
81. 10000 %
interest . si s IS y 800 90
81 200 %
0aj000a at Z act. ...-...... Is. GDO 900 90
Interest 30 Get 6ls20.6 Oh SSH ss4 90
-, IL !. SIS. So .2l6 90
Interest On S us at pei 5GgSSg9 s p
,,a,..s .... SIS a3579s IS
600 asss Tect.s ..........!.% 1900. 600 90
4,7l47O3 46-lO 2s 295 81
s45. 6is. 495 "a
Interest on s4s,64s is6 74atSF 'Y''VO0 W
1881 ST973-l. lGs. 100 q
ss7 SO 896 Il
Interest stS o1 ssf 5lis76 IL at w ~ "
SOUS 80 l0--l1 1856 I69 90
S25.5is 6g6 81
600 at y Faet,. :::,..:....,:. Is 600 96QOo
2.043. 4ss 62-l2, 956 ell As
e. s2.557 .095 %
Interest res on SIS 0s5 90 at8 i''''''v'
l'UJ6961 60--l3. 1913. G32 40
Surplus at the end Of tenth year after redeeming 4
sl'415.95i 10
From the foregoing data it would be strange in
deed, were the Confederate treasury notes not to
command universal confidence. In the progress of
events they will deseryedy secure this confidence
and the real difficulty will arise from the inability
OF large portion of people, pending the exist
ing blockade, to obtain them. A considerable
amount win be required by the different Confed-
crate States to serve as circulating medium.
Soldiers and parties holding supplies of the NUM-
tons OF war and of merchandise of various kinds
will receive a considerable sum; and large
amount may be absorbed by the return of the 4
same to the Government in the purchase of pro-
perry sequestered for the benefit of Southern citi-
zens, whose property has been confscated at the
North. f1s
But how are our factors and planters to be re-
lieyed? In case the blockade be maintained crops
will be kept at home, precuding the possibility of
any relet TO be derived from the sale of the same.
II ls OF vital Importance, therefore, to the country
that our factors and planters receive assistance
and If that can be temporarily and legtmately ex-
tended to them by the Government, pending the |
blockade, the community, directly, aud our bank |
ing institutions indirectly, would thus be greatly
benefited, and the effects of the blockade rendered
almost immateral,
+ II has occurred to the writer that the Confed- I
srate Government might afford great relief to the
1Hblic, either by purchase of our agricultural
productions or an advance upon the same, payable
n treasury notes, forsueh amount as the ext
sencles of the case would require and the security
u the Government permit. The details for carry
ng safely into effect such an arrangement might
,e adjusted hereafter and it will simply suffice for
he present to say that the redemption Of the treas
ny notes, which might thus be issued for the ben
fit OF the planting interest, would, whilst afording
widespread pecuniary relief and promoting indI.
1dual happiness, be amply provided for by the
ale, in due time, of the valuable agricultural pro-
uctons on which they are based.
There is, perhaps, no principle of political econ
my more freely acknowledged than that which
eprobates the mingling of governmental with com
nercial functions Hence, the writer has made
he foregoing suggestion with much diffidence,
,eing well aware that many might view it in the
light OF q Pandora's box, from which difficulties
night emerge In state of peace there is nothing
more clear than that governmental agencies should
lot infringe upon commercial avocatons still, in
he present crisis, when blockade puts an end to
III commerce, it may not be altogether inoppor.
une to inquire whether the necesstous position in
which our agricultural population are placed would
ustlty temporarily, or not, departure from the
general rule, whose soundness, under other Cir
none would controvert
The destiny of the Southern States and that of
heir cherished Government are now indssolubly
yedded--they ssahd or fall together. The Govern
nent must be supported by the people, and if pos
'ible, the latter by the former.
The present financial crisis, thanks to benefi-
cent Providence,is not so formidable as at first
blush might be supposed With caution, and wise
.ction and mutual forbearance, many Of the real
lifhcnlties by which we are enyironed will be re-
moved, and theimaginary ones dispelled.
In the mind of the writer, the pecuniary difficult
les and trials we experience can be trumphantly
provided the city of New Orleans be
,hectualy guarded against invasion. This is the
great desideratum aud all the energies of our peo-
lle viii be brought cheerfully into play to aid in
heir important task, the excellent Chief Magis-
'trate and brave old General who have the honor
u our city and the lives of our people under their
care. - - |
Let there be no Encouragement in our midst,
'ut on the contrary, if clouds thcken, let us rise
uperiof to detection, and act with energy and
Lake the mustard seed which when