Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-12-18

4
are applicable only to times Of peace. UnleGs this
declaration be Intended il . sense not altogether
clear, must be allowed 10 dissent sin tstS cello"
frsn this opinion. GA &AALeA
Although there are certain LAWS, socalled Of
political economy, susceptible Of such clear moral
demonstration as to have received the universal
assent of intelligent writer's yet no one has ever
pretended to class it among the exact sciences.
There are indeed many things about which the
ablest writers have always differed, and about
which they viii centinue to differ. Much of this
difference I have thought, grows out Of the uncer-
tain meaning of certain words or because of the
difficulty Of 80 expressing ourselves upon such
su iect to be at all times clearly understood or
more frequently still, in the proper application of
those general principles in the correctness of which
all are agreed.
But what Law Of trade is it, and especially of
those enunciated in my article which is not equally
4 applicable TO state Of war as to that of peace?
The mariner when overtAken by storm may be
obliged to deviate from the course which be had
been accustomed to follow, but he cannot therefore
be said to have abandoned the laws of navigation
He does not, therefore, throw away his chart or
compass, abandon the helm and commit his vessel
| 70 merry u bu6 WhFtSs ouE now uOIe bQAn
ever undismayed by the bowling winds, and the
danger which impends over him, he relies upon
that accurate knowledge which long and laborious
study and experience have reduced to a science.
So, too, Of the laws Of political Economy. While
it Is not denied that there may be some, which, in
their limited Bsnse, like nearly all general rules of
neral science, admit of exceptions yet it does net
therefore follow that we should abandon All law
and yield ourselves up to the mere caprice Of the
moment. But the exceptions are oftener apparent
than real hThou shalt not kill" Yet the aame
lsw-giyer that proclaimed this inhexible law of
HeGVeo, gave to his people also as = law, that
"whoso lheddeth mans blood, by man shall his
blood be she'd" New, this is not so much an ex<
ceptiOn As an exposition, Interpretation of the
Divine Law. But Gh all be better able to answer
particular laws which have laid down, which
though good enough in times Of peace are inappli-
cable to 9 state Of war. --O
He asks, further, where will get the means Of
conducting the war If / am opposed to borrowing
Ny articles have been written in the midGt of en-
gagements, which made it impossible that should
observe any very methodical arrangement Of my
IDEAS or that degree of accuracy which the import
Snce Of the subject properly demanded. Yet muat
confess to some surprise at having expressed my
self in 10 loose and unguarded 9 manner Is to have
crested the impression on the mind Of even the most
careless reader, that opposed borrowing altogether.
If it were subject about which felt the least per-
Eonal pride, l might quote largely from what
have said to show that it is not the fault
Of expression my part that has lead to any such
inference. prefer rather to say, that never for
. moment thought of opposing altogether the use
of credit bat only the abuse of it. Not that we
should pay a. We 60, bat only that we ahould pay
a. far a We are able and have insisted that the
war tax ia entirely within our means. have op-
posed the borrowing this war tax not emily because
we are entirely able to pay it, and to husband the
credit Of the State for hour Of greater trial but
have opposed with more earnestneGu even the
system Of borrowing proposed, that is, Of adding
new issues Of Bank or Treasury notes to our ale
Fesdy redundant circulation, thereby depreciating
its value and thus actually Though certainly with
cut 80 intending it, robbing the ssldler, and in.
posing additional burthsns upon the consumer, Of
whom the army is perhaps the most nssesaitous.
No government ever sustained its credit that ig-
nored the policy Of taxation IN time Of war No
goVernnsnt sTsr relied exclusively upon credit TO
sustain long and Furthermore war, tbs: did not
Afterwards repent it in saekcloth and ashes, If in
fact it sEeapsd absolute bankruptcy. The Turkish
Piastrs, having once about the value Of one dollar
by tie constant resort Of the government to the
convenient and tempting system Of isauing its own
paper promises to meet every emergency, in utter
disregard of svsry sound principle Of political
economy, which they tso believed, or affected to
believe, WsrsapPlicable only to al easy state Of
finance, II now worth but little over four cents
II we are wise We shall avoid q ike folly.
Bat l had not intended to say more in the press
sat number than TO advert breay to the error into
which Z Z. and possibly others, may have fallen
in Supposirg that opposed the use Of credit to
any extent in the prosecution Of this war. may
add however, that have jet to ind the arEt tax
payer who, speaking for ADsssY alone is willing TO
deny either his ability or willingness TO pay the
tax, even though ii should amount, a. it viii not
to fifty cents in the hundred dollars OF all his taxa
bic property. Why what is it On enc thousand
dollars 1t i Ave. On ten thousand, Hfty. On one
hundred thousand i've hundred. Shall We make
the humIliAting confession in tie fsce Of the world
that We neither can nor will contribute 10 this e1>
tent, for the success Of cause, involving a. it
does severy thing that patriots hold dear on
earth? Will not the bl1sh Of shame mantle
the cheek Of our Governor, where with the Golfers
Of our people replete even to overlooking, he asks
the capitalists for two millions more because of |
the unWiliDgneaS Of his constituents to contribute
ont Of the EHpersbundance Of their means, the |
trihing sum of one half Of one per cent of their
means, We ahall each Of Us deny the impeachment |
for ourselves, bat the bowels Of our compassion |
begin 10 ysArn when we think Of the dear, dear,
people. do not believe the people viii thank the
man who thus undertakes their patriotism. be-
lave they will rsihor held him accountable for
gross insult, a. well for the calamity which will
surely overtaks timely measures be not adopt
cd for GveTtng the evil Of an overwhelming pubs
lie and individual debt, bInkrupt treasury, brok
"a credit and worthless 81 rFsncy.
These evils need nos come upon Us however
long the war may last, We act wisely. Let
rs pay what we can. Let us give TO the capitalist
an earnest Of our honest intentions. He knows the
extent Of cur msana; he knows as well a. we, that
- have in Pound numhara f,Hr Iandr,d ,,Il;ons ~