The national Republican., 1862-06-06
Fvllsy, Suss ., lSoS.

FNDlBy, yuue Q, 10o0.
@-0l - Alss Pass will be Ssssd % i'm.
posts.t aplsaalie oosrsspondsnos On sAs SUBJ
jssa II ssAsl vssssh saAsri.g Turkish ports,
aaA - intssssling artiels declining the position
Of g. eaA Hossaon, writtsa by gentleman
lastly lfoa Tseaa tF
TnO RDOualARY CONDITION. OF THE
,t. , SOUTH. -..t Oil. ...... .
TAs sseeded portion Of The South may be
said 70 have In hand to-day ih entire export.
able esops Of 1861, excepting some iusignln-
cant fraction voluntarily destroyed. It has re.
oslvsd substantially nothing for cotton, rice,
sugar, O. tobacco, sold, and Of the vast amounts
Of thoo articles raised In 1861, Il has consumed
very litsls Those great resources remain In
tssA asasyparsntly The South b today just 80
nscA Fichsr, han II would have been 4 this
wa bad not broken out 10 The ordinary oon-
ditioa q thinp, thsss crops Of 1861 would have
bssa sold by thls time, and their proceeds
realized and consumed. As II Is, the South has
sonsAow got along without the aid Of the
creSs, spoa which Il has been accustomed 70
rely - u bssis Of its exterior commercial ex.
changse r...
Looking q The commerce of the South In
the general, the usual appropriation of iis
crops may be said 10 have been 70 the payment
Of the previous year,' debts, and upon the
credit Inspired BY such payment, and the usn.
sual practice has been 10 run into new debts
forsupp'ies aud cash. Upon an average, the
South wasr always one year behind hand, that
b, hAd ons crop always realized In advance BY
The devices Of credit 'f
The effects Of their forced holding Of the
crops Of 1861, were, first, the loss 10 the North
ern creditors Of the South, Of the whole value
Of tAsss crops, and, second, the deprivation
70 theSouth Of comforts and luxuries, for which
they would have been enabled 10 have run In
debt anew, they had (as usually satitasd
their old debts with their crops.
The South has got along without their usual
supplies from the North, partly by drawing
upon their old stocks, but principally by man
aging 10 live without them, which is much less
dimcult thsa d imagined. Instead Of spsndipg
nf1 millions more, or less. al watering places,
in he Northern cities, or in Europe, The gentry
ofthe Scath have found their pastime In war
And at home, they have drank whisky instead
Of wine, c0ntrived 70 fnd drinks palatable
without iOs, end have learned 10 take pride iu
bousspun, instead Of In broadclo,h. 10 short
the South has economissd. ,,.
II Ia upon Northern creditors that The los,
has fallen, from the Withholding of Southern
crops, asd this, not merely in the loss, or post
poument Of current, mercantile debts, but in The
stoppags of the income of The Northern per
msosst investment, ct the South, and wherever
that wss possible, the sequestraiion oil the
principal Of those Investments. ..
In nay, 1861, The Memphis Bulletin said:
"fhsre 10 enough real and personal estate IL
this city owned by Cincinnatians alone, II solt
at aucuoa, to equip for service the Ave thou
sAnd voluntsers now under arms In this city
Ws repsmber that the stock Of our Gas com. som
pany 70 held BY Cincinnatisns-we do not forge
that the stock Of our banks 10 owned in part /,
CineiSnati. and the residue in Philadeiphia
New YORK, and Boston: There is not less thai
stseks held By Northern men in this state
Te1eeseea has isaued eighteen millions Of tim
6ondG thess are all down East,' except pc,
hspS ons or tNo millions, This city has out
ofthsn b Cincinnati. the balance In the North
Thfs oounty has Issued notes payable in Av
yeas, ~ hesd, or very nearly all. In the East
Adiaont counties have done the same thing, I,
build niroads. Then the people Of this cit,
owe, perhaps, bali million In Cincinnati
The whole amount foots up an inoaloulsbl
.xs Eve might bs induced to sssus.tsr all ,hl
aSpaus : receiver, and mako ali her oitizens
~ ncnks, and corporations, pay these oom
fore1ess aans Of money into the STATE treasury
Ths Lsgislature 10 now In session, and may, 1
gsnsross spirit, authorize our Board of Alder
oinustians In our midst" -
y = hardly necessary 70 add that all tbss
ssspssarssioes, threstened In Nay 1861, hsy
siess Assn carried into effect, not only at Men
PHI, but everywhere throughout rebeldom.
In Novsnbsr lest, The Little Rock (Ark
Dsmocrst, nd: -
"To The merchant Of the Southern Coufed,
racy thts war has been God.send. while
has ossn released from the immediate ar
Irs.,inG necessity Of discharging his debts |
Of his entire stock At largely enhanced price
he has been enabled to sell The remnants Of ol
stocks on hand, At my and q hundred, an
eomeumes tWo hundred per cent prOfit, Whicl
Us War had never occurred, would bay
f.Abn deadl lo0 on his hands. The mercbal
aAooe OF I'll the citizens OF the South has mad
money IN tie lsst sig months. 1t il true b
complains Of hard times and talks Of the soaI
city OF money, but ut the sxms time hs 10 pro
psrtSS TO degree that he never pyospers
before, and he q gradually accommodating All Il
wsaAh OF the country In bis drawer" y
Whethsr these Southern merchants ha,
really enriched themselves by selling good
q whatever profit, for currency of no valu
dspssds upon their skill, or good luck, In shit
ins hat currency on upon their nsigbbor,, b,
thAs they enriched themselves by swiudiiu
tssir Northern credltors, Is very clear. 1ndss
II has Awsys been known, that this idea
spsssing OF Northern debts, played no slna
psst smong the motives which stimulated th
rebellion.
ths whole, II this war should close 900
%M not anticipate that asythlng like u
iroty9ish1ent would be found % exit at u
se1sbewklca b anticipated by many person
wbssSss issxe portion Of Tho population
habitualIy Hle, the sacrifice Of maiptalniu