, 1862-02-20

A&aEt7E 1A&E|JOF 1etztfa8 iHe W1T -1EEtH*d-- I
lss,tes Of The Nert R1itical Campaign
Illinois be Jared Ten Millions to SAFE South
Carolina from tpnfsc0tion 2-Intesti9afio't
into the Telegraph Genasrship Wyke0@s Court
slip Of Waft aud rs Consequences.
from Cur own Correspondent
WAshMa1ox, February Is, 1852
Notwithstanding the repeated victories of
our arDae-each more decisive and more wor-
thy Of exaltation than its predeeessor-there
is settled gloom covering the two subjects
Of slavery and fnance. Gen. Uellcck's repro
duction Of his hateful order No. 5, and the
sudden advance in the premium on gold,
together with the large shipments Of that ar
ticlc to Europe, forcteI disaster in the lap Of
triumph. That slavery should be stronger the
day after the rebel armies are destroyed than
it ever was before, and that universal bank
ruptcy and public Reputation should be the
reward Of the loyal States, is hardly pleasant
banquet for this generation, or a pleasant page
Of history for future ones. The ablest fnan-
ciers in Congress are becoming convinced
that nothing short Of sweeping confscation |
Of rebel property can save US from flat bank
ruptcy al around. The public debt, at the |
close Of the fiscal year in june, 1862, will be |
not tar from S750, GOO, Geo. on which the inter
est will be at least $50, ,0oo, GOO per annum, and
if VIC suppose the war virtually closed at that |
time, the increased military and naval force
necessary to be maintained, over that Of for.
mer years, will bring up the annual budget,
exclusive Of interest. to s120, ,0c0, ,Go0. Hence
there must be raised by taxes and imposts
about s17O, ,0o0, eco per annum to Keep the debt
stationary. This would not be SO hopeless a
prospect if We could keep cur specie ut home,
but events are daily proving that VIC cannot
I'LL the channels Of trade with paper except at
the cost Of czpelling our gold-a dollar Of
coin for every dollar Of paper, till the former
is all gone. Tie paper is depreciating pa7'i
passu, thus compelling the Government to
pay more for everything il Aas to buy than it
did under the specie standard The Govern
ment has to pay to-day one hundred cents for
tic same quantity Of everything it buys, that
it formerly bought for ss;nety:1sse and one zt1.
cents. All the gard sticks in the country have
been cut of, all the pound weights clipped,
| and all the peck measures falEe-bottonled to
the amount Of ~ per cent, and this figure
| is constantly increasing. Thus the war is
made more expensive than formerly and the
difficulty Of paying the public debt increased.
| # the war should be pretractcd till June,
| 1868, tic debt will reach the enormous figure
Of 81, soc, GOO 000 This is the estimate Of AR.
Fessenden, the Chau1nan Of the Senate Finance
| Committee without, however, taking into
account the increased cost Of maintaining an
army on scale Of inflated prices.
Now the question arises whether the people
Of the loyal States will consent to bear tllis
burden, Aeopsa upo, t1rj,a BY tic ielezs, when
tie property Of JEFF. Davis and lis followers
is Justly fortified to the Government they
have sought 10 overthrow. It is to be asked
whether such rebcl|ions as this arc to be 1naat
costly to The guilty, or. only to. the innocent
He 1aye not yet felt the distress which wa
brings in its train. The bills have been pail
! up to t1is time by borrowing they are nov
being paid by sskitlng." But both kitin:
and borrowing have an end, as II
are reminded every few days by onlinous re
marks from the Ways and Mems Committe
about the tax bill. The strain will come inf f4s
mouths, and it will then be for the people +
, say whether MeY will pay the mammoth eS
| pcnscs, after furnishing the blood. or chary
, | it over to the heayen-defyiug parrieidcs VIII
brought Oh tic war. As general thing, th0s
!, wloiaecm slavery a sacred thing, not to b
/ touched under any circumstances, believe aus
3 that the loyal States ought to pay the Who'll
: debi, or at least that there should bc no sue
e thing as confiscstion. The Democrats aud bo1
t der State 1nen concur in believing that Iilinol
9 should be compelled to pay SIC, 500 ,0G0 pt
= . annnm into the Federal treasury rather ti;.
= that The yipcrous State of South Carolin
| Should be coniiscatcd. Nobody believes, III
} ,:oGody prcteuls to believe, that there is
h lo1 al white ci,ixen i'll South Carolina Old u
= Pctteru was the only one known up to IL
- 1,ou,bardmelt Of Sumter, and he has since ie
[e the State It is one bitter, malignant, llen'
A. ISL nest Of armed traitors. It is there til;
slavery has had its fullest swing It is the
u that tic slaves outnumber the whites Is fol
tn to three 1t is there that the rebellion had
origin But the pru-slayery party in Congrc
n The tights of the south,n and to I'll
Il. DOUBTS about The constitutional power
~ the Government to couliscsatc anytlllng exec
he fire a1nas forts AMI bitches. Let tflt pe0p
take TIL. into their hcslthy consideration.
i, tl4ey like the fun Of paving Sl65, ,oao,oo0 p
>el sba,um and leaving u debt Of . thonsaI
i'll millions, more or less, to their children,
=. that tie rebel States may escape the punis
he Aent they have earned, it Is perfectly fcasl@
Of fur 1hem TO DO it, or ut least try to ao
Il they do not like it the remedy is in tn
own hands. l. new Congress is to be SO
elected and though the issue ought to be Il
Of high moral principles, it acin DC that Of q
to lars and cents. Tie more pro-slaycry Den
,,.. cla:s, or rro-slaytry Republicans for that II
l.e ter, they send here, the more money will tt
i'll pay to save JEFF Davis d Co. from paying
III expenses Of their rebellion.
bc, Tie Investigation Of the Judiciary Comm
tee into tho censorship Of the telegraph,
Con opened i mine Of funny things, which is bc
ing worked with commendablc zeal. The disc
oin CIT OF Wy kcG's dispatch containing quotatlt
,a- yerba:iu from tue Presidents Message bef
'''1 its delivery to Congress, was purely accid
:ott tsl. Tie dispatches werr all brought il
;sas the Cpmmit1ec room and the wltncs
49, whose uanlys wcre found appended to
suppressed oncs sent for. AL or nearly al
'Fc~ lbe inttrlicttd messages have been found
ON bc harmless rvycaaEioas> III no way connec
;,tc- with army movements, aad for the most
Frea Or thai digilitary which the censor, |
OH su.urd the said dignitary or some fri
!. in ct his would not like to- h
published. Tie whole system Of ctnsoss
Las l1cn III inane and p,ierile contfiyancc
has even Icsr found that when a false TIL
has nutlt out over tue wires eH-cting pr
own 5jvislly the Navy Department, and cor
cr,2 Etatcus. Mt stnt subsequently, to repair tho
,,,- surat theTsq,cst c tic CAief Clerk e TIE Dep
h'Ns 7,..Mt. lie former l,gs been allowed to go
9n tic lalter suppressed. The fa1sehood Ni,s
uble n.it1cd to ,r:syrl Oh it bad GRAND and
.o,ps 1.u,}. Withheld, notwithstanding it was
tir1!s innocent vi information which conlS
LIE Of :'tivantagc to thc rebels even ii forsa'
ErSt strainht 10 lslclInUn1 Ihe censor app
,.1. It. nrT.lly IL have been full Of new wine.
WYkoE possession oftAe Presidents !
spsf' s".c III advance Of its presentation to
:ton; .rrs*. Was surely all odio11s circnrnst.nc
ui.cs ticw If the dciyssed character nf the man,
LAT hi;ttr rj}l to tie Presidents friends.
;, c,.r6ing]v ltle autlior OF "Aly Courts1lip
coeis its Consequences was brought before
pre- Committee a,.d inquired Of. HI: stoutI,
then, 'nE.d To answer, giving the Coulmittcc
AZ, t1at 1Iantc to understand that his informs
- ea;.,c 1Tc1n SO impoEta1.t source th01
/ the Mould undergo ctlaxAs and toi
the | sa:icr tlian reveal e.. WAS occort
,r.,. Is in:a7ccr.tcu. Mr. Kellogg Of Ill
s' tl.u w.nt TO the Executive Mar
a'ctE AID told the President what had happe
On The President WIS greatly surprised-llas
NAV :,.a known that any part Of the hit;
ll.fs tecn Published in advance u
/ ecs:;.ry Ia Congress The next n
eg lie vent IL the Committee !
ald insured the Ctluirlnan, (a1r. Hick
have 1l.t 1T Lev. guve :.ny portion e'f he Me-
, "A, to .n. :.c1y except members Of the Cat
,;+;.t %.acrier to its transmission to Congress
, TIT P;e.iutn. had hot b~cn summoned
sheih wft.css il statt 1rCnts do not form p:
I, the he IT cord, 4, will not probably appe
: WAS IT," zcl,s.st If the Committee
,I This statement. made III the unnlsta
,oAcsty OF the Presidents heart, only &c
,ati'5 | I'd il tho more nccssary to find out the
,lul. c111rit at this point Brig. Gen. Sickl,
1t the 1taTeo On thc ea.iel. ine aenc1.a Eul1
1y*.r}7 - Ai"l''' -: