The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1862-01-24
Jcn. Davis FIwarciai Prospects,.

We cannot, indeed. regard with
much confidence the financial proc.
pects oi the Southern confederation.
They resolve themselves simply, go
far ss we can understand, into an
unlimited issue OF assignats. II isa
financial system which, a. we all
know, works we'll within moderate
limits. by the Issue OF paper mon
ey gov, rnment. ss Mr.. Davis says,
borrows without interest. II 10. in
fact. the pleasantest thing In tho
world, like large legacy or the dis,
covery Of hidden treasure.
Uuhappily, however, the amount
issued depends, not on the will, but
on the necessities OF the government.
The moment, with such securities,
that the supply excce is the demand
the process OF depreciation commen-
ces. From that moment the decline
and fall of paper currency is rapid
and inevitable 4; prices rise, and the
government is obliged to receive pay,
ment for taxes in its own depreci.
ated notes. The security Of ~ eight
pei cent. stock itself partskss tho
came depreciation.
1t is simply ridiculous to talk OF
such system as sfforiing hope or
commanding conf ienco All thtt
can be said of IL is that the Southern
states have no alternative. and that
they may view a return to q state OF
barter as a less evil than a return t.
the arms of tho United States. Ii
may be true. also, that. With N der.
alto care and economy, there i, no
limits assignable to the period for
which people willing to contine
themselves TO the bare necessaries Of
life may protrict struggle for exist
ence aud independence.
We can understand such hopes,
but VIZ confess we read with some
inpatencc tho hypocritical lament
atoms Of Mr.. Davis. the President
OF a confederscy which may be said
to live and move and have its being
under the especial patronage Of
Ju lge Lynch, over the violation OF
personal liberty, the suppression Of
the freedom Of the press, and the in.
uinidation Of the Courts Of justice.
consequent in the North upon civil
war.
These things, which tho South
regards with contemptous astonish.
ment, the war has not brought upon
her, because they were all dolnesti.
cate with her long before the war.
Nor caa we sympathize with the IA.
mentations OF men who have delib
erately liz the torch of civil war,
over the cruellies it has engendered,
the miseries which have iallen on
women and children, aud the sttenpt
to raise q serVi e insurrtc' on. -
These things were for the consi icrA-
ton OF those who frat lit the torch OF
civil discord. They know th,t civil
war ia ordinarily IA much more
, dreadful than common war as com
: mon war is than peace.
1 They who take to the sword mul,
= complain is they fall by the sword;
;. they whose feet are swift to shed
. blood must not wonder II they shoult
Q one day stumble in their own. Mr.
!. Davis seems to imply that by cess
!. ny to grow cotton the Southern
states will bring ruin on all tho in
i terests OF foreign countries depend
: ent on that staple. On this I'nil
q let him unieceiva him self. The
. failure of the cotton supply OF tn,
O S jnthern states is like the loss OF 4
o familiar taco. at first deeply regret
n ted, then occasionally missed. al,
q then not missed at all. We ar,
o learning how we'll we can do with
T ont him, ani ars not unapt scholars
% -[Lendon Times