New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1862-04-08
NUMBER 80.
tcoxAU NIcALlD.
lending Interest ON DeLts.
NARKsy1LtK. Apru1- laS

Fl n,..a.x.%S.s MARKsvILLk, AprH1, 1852.
.,s.;z. every mans imagination ID
ss'a"ns ""ons ~ ''ssaort to discover something
.na' may con'l'paes 'ote general welfare, per-
n't me 70 give you tne resas OF my coetatiops re-
apecting interest on a partie..r class M debt..
The Confederate Congress has pased ,aso,n,;an
if am not mistaken, requesting the ~
ers to refrain from planting anything s,r;ne, a.
present year but the cereals. The press ,n..n
where unanimously urge the samsspolicy, aneno,
question can be raised.as to the wisdom or soune
ness of it. The objects of this policy are mainly
tHo-fold-frst that our planters may thus be able
TO supply the army with the necessary provisions,
and also to supply those in indigent circumstances
at home and, second, to take from our mercenary
enemies that notorious incentive to their hellish
cupidfty which seems to have lured them on in the
visionary work Of conquest. Now, in both these
oolecsa 1t will be aeen that the planters are the
very piara OF this revolution, and 1t will be seen
| sso snas they are called upon to make greater
| sacrifices than any other class Of men. As gen.
eral thing, they are in debt to some extent; and,
whilst thsy are expected to do much, ought not
their creditors to make some sacrifice? Let me be
little more explicit: Whilst the Government and
the press are urging upon the planters the policy
of making no cotton, it is plain to the latter that
W.,
whilst they, to satisfy public desire and to advance
the interests Of the Confederacy, expected to
labor without revenue, how can they Justly be
required to pay the Interest on their
II the planters can reasonably be required to sac
rifiee their revenue, their creditors may just al
reasonably be compelled to susnend the interest
on their claims. The rule shsuld be made to op-
crate with uniformity and all classes Of men should
l e~-l lsfFzs- e1t4h-
among the people, which will result in orr iaae-
pendence. and the future solvency Of the entire
agricultural community. If interest continues tt
run against the planters under the present crcum
stances it will result in general bankruptcy to
them when peace is restored. Then those who
will have done the most to promote our inde.
| peDdence will be the worst ruined by the result
and nice uersa. -..ss.,..T., ...[4,.I =
| If this war continues three or four or ten years
and the planters must pay the interest on their
1 debts, whilst they are expected to support the
4 Confederacy gratis, and cultivate nothing tina
may yield them revenue, why, sir, the result o
it all wosld be public liberty and private ruin:
may be told that they may sell their cereals, as
they do their cotton and sugar but, sir, every
plauter knows the revenue aderivable from this
source will necessarily be very inadequate to the
purpose contemplated. Besides, il they could de-
rive full revenue from their sale does not every
PROTECTING man know that the taxes now due ant
hereafter to accrue for the successful prosecution
of this war must well nigh absorb all that tht
planters can make, even with their best exertions
1.-The very same considerations that prompted oul
sEegislature in making the famous nine-tenths Law
could have been much better directed, In my hum
t.ble opinion, in the passage Of q law staying th
current interest on the preexstiDg debts of plant
ers. am well aware of the objection of its bein
an &c post fdcto enactment, imp pairing the 0bliga
ton of oontraqts etc. but if they could get owe
these barriers in the ease, they might as easil
| get over them in the one suggest.