New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-12-12

C0NEEDERATE FINANCES.


CONFEDERATE FINANCES.
Mr.. RllsseIl,s latest letter to the London Times
| liberal extracts from which we published yester-
day, contains more good sense than any Of bis pre-
vious communications, and exhibits clearer and
juster appreciation of !" the situation y than has
| heretofore been the case with him. In one re.
speot, however, he does not do us justice. After
complimenting the Confederates on their courage
and their determination, he proceeds to say that
ssif their finances were sound as their fighting
there would be immense chances on the side of the
Confederacy." The Times itself, in one of its re-
cent articles, described the Confederates to be
speor, very poor''
Now, this Is altogether mistake. The Times
has been led into this error by its correspondent
and by the frequent falsehoods of the Northern
press on this subject They have SO constantly
and pertinaciously asserted that the Confederates
were starving and ragged and were without mo-
ney and without credit it is not strange an impress.
sion TO that effect should have been created in
Europe. Foreign Journals ought, however, by
this time to have had illustrations enough of Yam
kee mendacity to reach the safe conclusion that in
nine cases out of ten the reverse of what stated
by the Northern press is apt to be the truth.
The Confederate Government is not poor, nor
are the people of the Contederacy poor. As long
as the latter is the case, the Government will not
sntier, for the entire resources of the people will
be devoted, if necessary, to the support of the
Government. There are other things besides
money which constitute wealth, and in all these
other things we unhesitatingly assert that the
Southern Confederacy has the advantage. of the
Northern Union. $40 ,l
n Is simnlv nonsanse n. sav +ba+ a oorn+rv i
Moor. which in the conrse of a few months has
mt in The tetd yonr ~ ;vo b,n,roa ~ ,,sr
has arn,sd .c,othed ana soa t,a,,, nd !. ah1a ~
kee,, than ~ tba fo,a 3, ,o,., - h ~
sarv In +ba start al, 40 od,,o no 20 rvara
narantlu an tho eide az ~ Nor,l, as tba Nortb
had the old Gavsrnment with its nrastioa Ito
AWAIT or5 49,, a,.,,s,
e NO, u ~ -, 80, &c n
- ! o,,r bas ~ ba., .sarrt IN
~, ~. - IL 80 ~. ~
~ a.. ,,ase., +,
). 80. ~.
~
,tbi,,,t ,,ot IL s,rnishad ,,a,o
ros;tv whan - co,n al 1 oretor;z;no opr
army nr;vats ,;haral;tn cIotbod ana /, son,a
easass arme5 onr aoldisra states cornorat;ons
association ana 4in5;v;dpals napred opt the;r
NANCY like water for the oanse. and The same
thing il carried IN vet The woman Of the land
have fnrnishad clotbipo for onr troons, and tho
men have provided for the families If those who
have gone 10 6eht Steamboats, ami railroads
have TRANSPORTED our armies free of charge. Hos
pitals have been established for our sick bv pryate
libera1ity. the Government not being subjected. in
many cases. to a dollar,s exnense. Ali these
liana and milI;ons of dollars and !, mamie cannot
be !" moor y who are TINS able to relieve their
Government. and mike the North willing and
anxions 10 do 80
/ As single illustration. take scott,s sn,endia
regiment nf Ionsiana Cavalry oue IF the finast
and est.eani,,ned corns that have vat gone 70
fight. This regiment has been raised without cost
ing dollar to the Treasury. Horses pnns swords
pistols, tents, and equipments generally have
been provided ont Of indiyidual nockets AZ also
Of many others of our oomnanies and regiments in
the field Can the same he said of the North , Not
much. There. The Goyernment il lootyad to IN
provide everything. and il the victim Of ;nnnmer.
able sharpers and swindlers. II 10 a uistaka 70
estimate the wealth of q Government hu tho
amount of money IN its Traaanrv ana Mr. PnsseII
onoht In have senua anonab IN kno,v +tat = 10
mistake he correet ,va ia IL tn,,
il available to lie Government FIT 4 aopa,v as
available 10 the Government while if is in the
pockefs of the peope a. if il were in The yau,ts Of
the Treasury We dont see tbst Il nal,as anv air.
ference whether h Il in the one Mace o. the other
Is il correct to saw that a country ia 9 nooru
which can sell Annually two bnndred millions If
dollars worth of one article alone--wbich nro.
duces other articles of merchandise of preat vane
and for which the whole world il a marketq If
the war were closed. one half Of the years cotton
crop alone would paw the entire sum it has cost
syeJv II cit;zenu of the r,onfaieroc, and ,vor Ia
retained in our midst. The North, on the con
trary, # the war were closed, would have heavy
debt on hand, with nothing to sell to pay it with,