The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-10-17
are bound to return the amount borrowed
and money By Its use does not breed or pro..

The Irish are the slaves of the Eprlis he.
cause the capital of Ireland-its lands. money
loened out, or engaged in trade. &c.-,s
chiefly owned in England If we iucpr Iarga
debts, whether dividual or national. in I'm.
rope, and Europeans become owners Of stock
la our banks, railroads, &C., we shall thereby
become their tributaries or slaves.
Bnt 1t may be replied, " There is no way Of
preventing the non property holders from be-
coming the slaves or tributaries (if you pre-
fer of the property -holders. Despite of the
Declaration OF Independence, and similarity
OF skin and color, the poor are born slaves
the rich born masters and If we borrow
money at home, we shall only have masters
81 nome instead of abroad This is all very
true; bat IL makes all the difference IN the
world where our masters reside and expend
their incomes. They can eat and drink and
wear very little CT their incomes themselves,
ara when spent at home il encourages and
pays well all krds of industry.
Besides, The mea who ieud 10 Government
are already masters i'm the sense which we
employ the term Of tne poor. They can lend
thslr money to private individuals, invest il
ia STOCKS, houses, or other capital, and collect
taxes from the labor of the conn try iusS as
Well IA hy lending it 10 Government We do
not diminish our liberty by the Government $
borrowing OF our own citizens, but we p1r-
We borrow from Foreigners
Thls subject of sTptoitqtioa is the most diff
cult IN the world to con, preheud vet it is now
eminen'iy practical, present, anG pressing
reaorr "a tne first tuur Chapters OF our own
WORK, 'CanBibais All" We do 50 bscanse
~ pfeseht, no other treatise on the subject is
accessible - the Southern pU Bile
Il parcel OF croakers declare that the cotton
loan Is q failure. So far from this ba,nr true
1t has already done much good by insnirjn e
the people with universal con fitlence IN one
another and in our Confederate te Government
ana, besides. given currency To the Coafe;ie-
rate notes. l. is the true basis on which tho
credit OF those notes rests and il AS good Il
basis OF credit as gold or silver, (for whicn
cotton can re;,di he exchanged. for tia daily
approaching III .;,lue, whilst goid and silver
are depreciating. We say it NAV readily br
exchanged for gold and silver bpcayse Europa
needs II, and cannot much longer do will =
out it.
So far from being Il failure this corton and
provision loan, II l'erseyefpd in, will prove TO
be q mas ter stroke Of statesmanshiD and of
finaneia! policy. Men OF subs tance through
ont the Confederacy becoming thereby The
creditors OF our Governments will more warm
y sustain it and aid il, i'll all measures TO at
tam independence and preserve union This
io.th bulluS up at once ii great conserya tive
interest. winch Will do more TO psrpet,late
our institutions than all the paper, compacts
ana written constitutions in the world
besineS, as We have alreaGy shown, if we
borrow two hundred and nifty millions in
this Wa%, at home, irs teai OF borrowing il
abroad, We shall thus save 10 the Con t,f,era OK
II Thousand millions of dollars in sixty wears
and preserve our people from becoming slaves
ijGeiCD fnrG i'm
creditors.
The negro slave enjoys but par; of the pro-
ceet.S OF his own labor lie is fed clothed
iurnIshed wood, housed. aid provided with
All necessaries Tor himself and family. yet ne
Is rot III these respects proyi idtd as well AS h,
usually might be Il a II The proceeds of his l.,
bor We're appropriated to mis- support an,,
hi'iih teiaHce' tiis master erp.oitates portion
OF theln. Bad and cruel masters eXpioit IA te
| thelf slaves great Geai, good masters but
! little, ana oyer-lndulgeut masters not at all :
hence they have often 10 sell q part OF ta eir
IDLE negroes To support The balance vet. nine
negroes out OF ten are better provided and
maintained out OF the balance left after the
master exploitation, than they wouit. be h ad
thef 70 masters, ana enjoyed all the results OF
| their voluntary labor. lis necessary 10 ex-
pioitatP negroes BY giving them IL certain de-
| fined master.
but III Is not necessary that European-
shcuio expiolitte the people of this Con fed.-
facy 10 tie amount of twenty millions of dol
| .afS year, the interest, at ri rht- per cent .
| on TWO hundred and fifty millions for they
VIII work without foreign masters
oitf independence viii avail us little, if by
| IL we only exchange masters. The true
cause OF war between the sections is not abe,
iluon, bur the fact that the South refused a 10
longer TO be cJi'toed, fyyioitsred or crDEoateS
! we md 1t written all three Waysl by The
legislation, SKILL and capital of the North.
She exported us by the tariff, which taxed
our labor to pay premium TO hers She ex.
plotted us enormously i'll the profits arising
| from foreign trade, which her great ca ;,;taI,
alded py protective tariff, enabled her ex-
ciusi"eiy 10 appropriate. She exploited US
by her schools, her colleges, her universities
ner watering places, her teachers-male and
lemaie-her parsons, her drummers her ned
diers, her showmen, her editors, her pu blish
ing houses, Hef newspapers, her circulars, her
reviews and magazines: il fine, ny the com
| bined agencies OF egsIation-cay,itaI. skill,
/ cum 'ng, and fraud. By these various means
she exploited of the results of ON. is nor fv
| n ha .Jy,f 1,T Nov
labor tor great de IL OF thai OF ours We re-
sembied negro slaves in this, that we did NOT
ENJOY All the proceeds Of orr labor. But here
the resemblance eudcd, tor the negro vets
careful protection in return for being py.
plointed-we only get abuse, threats and
nJgrLnt injustice.
| The cotton losn, if successfully clrried Cu,,
will go lar prevent III becoming the slaves
| of foreign capitalists.
England, with her mighty capital, wonder
fui manufacturing production, and extep ded
commerce, Is rapidly enslaving an uncon
scIous world. Probably, she recai ives in in
| terest on debts due from foreign nations and
| individuals, and III dividends on foreign
| stock, not less than 4 thousand millions OF
dollars year. They who pay her this an
nu;il amount are her slaves, because a part OF
the proceeds of their labor is taken away
| without consideration, or payment therefor
these English masters have none Of The
cares, troubles, and vexations OF our cotts,l
| planters They live i'll palaces, eat roast
! beef and pium6-pudding drink port vine
smoke Havanas, and take their evening siesta
| Win none to disturb them. When sl the
world becomes tributary to English skill and
| capital, ali the world will be- mora or less
| enslayed by England
| We have already said that slavery 10 for
| eiSn capital was worse than slavery TO do
| mtstlc capital, because in the latter case the
| TAX levied or exploitaIed b. from the la abor-
| ing class WAS III great measure returned by
| its being spent at home, thereby giving pro
htab!e employment to labor ana dlyersifying
| industrial pursuits We shouId have added
| mat wealthy capitalists residing at home do
much TO relieve the aistresses of the poor by
| private enarlty, and still more.by payment OF
poor rates
1t Is irue, that both private and public char
ity are but Il return 70 the poor OF part OF
their e2rallgS, Tor the labori1G class in real
| II, creates all values, supports the poor sup
| ports the Government, and crea tes the fund
| from which both public and private charity
are dispensed.
| Ii we become indebted TO England, her cap
| itaiists viii dispense in public aud private
! caarity in England the hard earnings o.
American labor. The Gotten iotn, i'll kee D.
| ing capital Al home, will tend far TO keep tne
earnings Of labor 1T home, and thus provide
| fund 10 give employment and good wages &c
| the !thoring poor, and from which TO dis
| tribute charitable relief to those who need
| and deserVeit.
The credit OF a new Government Just start
| ing into life is delicate and as sensitive as
| the repU tntion OF woman. and should not be
| questione except from imperious necessity.
| TO attack the Secretary of tie Treasury or his
measures, is apt 10 inlure the credit OF tfcy-
ernmeni, and no patriot VIII DO So unless Ii.
| be fully assured that the man is iGeompetent
and his measures Injurious 10 public veal
No country needs money carry on war so
| long as ii can get moneys worth This il
| can obtain long the products of the
country suffice to support the people at home,
and 10 furnish a sufficient urplIis supper
! Government and defray the expenses OF war
| provided. the people have confidence in the
| integrity and p@rmanence of Government,
The cotton loan is striking evidence OF
this confidence, and pregnant canse OF beget-
| ting more and more confidence. To assail i,