Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1861-10-23

vat, lue proper OF the Hnanclai inter-
ests Of the gosefnment sof the first importance to
: the peopleof the Southern tonfedstacy The main
tenaace ofthe war and its successful termination is
"our destiny Now that 1t is upon US, it must be
fought out at all risks But alongside of the ques
ton ofoar success and a victorious end lies the i'm
portant question of providing the ways and means.
An new governments are poor, and must neces-
sarily go in debt. If they are established by the
sword, the debt becomes enormous. The Provision
al Government of the Confederate States with this 4
upon its shoulders, cannot live out Its allotted
period of one year, at cost including The debt
of the States of less than $2OO,OOO,o 900. The per-
manent government must therefore commence BUSH
ness heavily in debt with the prospect if the war
continue, of large augmentation. To provide for
the maintenance of our credit In the infancy of the
government demands the highest wisdom and the
purest patriotism of the country. But the question
is not simply how is tine debt to be provided for,
but how it shall be done with the greatest ease to
the people? There is a future in this contest which
must not be overlooked The war must be fought.
out, our independence must be maintained and our
credit secured, but all these must be so conducted
that the Southern people can come out of the war
with sufficient strength and with their hands loose
to recuperate quickly. Fhe resources Of the South
in actual cash-gold and silyer-are admitted all
hands to be small; but in every species of Produc-
tive property and in physical and mental energy,
she is immensely wealthy. Great fears are enter
tanned that long war, even of two three years,
will utterly PROSTATE us. Men who are rich in re.
sources already begin 20 imagine themselves in dan
ger of bankruptcy, and put on long faces at the
mention Of war tax. ~ ..' ls-.
1t need not be blinked that our energy, our mill
tary skill our powers of endurance and econOnl-
ca or pecuniary viii be stretched in this
war to their utmost tension. But unless We become
craven-hearted indolcnt extravagant and wasteful-
unless we become unworthy Of our high destiny and
rccreant to the cause of civil liberty and constitu-
tonal freedom, the South will come out Of this war
shorn Of her locks perhaps but still possessed of
giant strength and a mightineSs of energy which
will speedily break the bands with which she has
been bound, and she will spring forth to rebuild her
fortunes with the freshly grown locks of Sampson.
With large amount of property and an unconquer-
able energy, which are intrinscaly better than gold
and silver the South pay her debt and still
march forward in the career of an unexamplcd pros
perity.
Now, the true problem for the statesmen Of the
Southto solve, is, how shall her great wealth in
property and enterprise be managed, and her
products be so disposed of that the expenses of
the war; the wants of the State and Confederate
governments be met, and the necessities Of the peo-
pie be supplied, during the war; so to embarIasS
the people in the least possible degree and leave the
productive property and energy Of the South, still
uncripped and umcttered This is the great ques-
ton, and its happy solution is of the highest mpor-
lance. 1t is doubtless environed with difficulties,
but sound craftsmanship and pure patriotism can
grapple with and overcome them.
What, then are the present aspects Of the ques-
ton? What has been done to meet the financial
wants of the Confederate government? At an early
day, the Congress provided for a cash loan from the
people of SIS 600 600 subsequently it proposed to
the cotton planters loan in cotton bales of $780,
600 COO which has since been increased to $780,
100000, for both of which, the cash and the pro-
duce loan, the government is to give its bonds at
per cent, redeemable at a reasonable time, with
special provision in favor Of the cash oan securing
to ii the per cent. export tax on cotton. At the
late session of Congress- the credit of the govern
ment was further extended by ordering the issue of
$l01,O00,00O of Treasury notes, without interest,"
redeemable six months after the termination of the
present war war tax was also laid, which it is
supposed will yield S2n,00OO0O. ..s.
The SlJ O00 900 cash loan has been taken up,
and it is understood that the cotton loan is about to
be completed to the amount of 500, 000 600. This,
however will not be av liable to the government in
cash. until it can effec. some arrangement for its
sale The reliance of the government, therefore, to
meet it's large and constantly accumulating expen.
ditures rests first upon the ability and willingness
of the several States to assume the payment Of the
large expense incurred in raising and equipping
troops, &c, to DC reimbursed after the war-and
secondly upon the cash loan effected and the $780,
900, 900 Of Treasury notes issued, making in the
aggregate $l1j, 100000. This amount added to the
amount assumed to be paid by the several States,
and to be refunded TO them after the war, we can
rot doubt will carry the provisional government
through 10 its termination But we must not leave
out of view two other items which must greatly as
sst the government in meeting its necessities. We
mean the large amount which must come into the
Treasury as the results of the sequeStraton act,
which, however, the government must refund at a
future day. and the large individual contributions
both to the government and to the army which are
daily augmenting. OF the present ability of the
government therefore, to meet its actual wants in
carrying on the war, the above showing leaves no
room to doubt The tax will not be available
until after the permanent government goes into op-
Grafton. The subject will be further considered.
. C. r. THOMAS, Eso.-We invite the attention of
our readers especially in the Sd District to the Cir
cular of this gentleman in the Standard to-day.
This Circular we'll written and does credit both
by its style and the sentimcuts it conveys, to its
author 1t is not our purpose to take part in the
contest in the Sd District; but Thick it duty