The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-14
the neck, it will indeed be reduced to the con
dition Of "a bowling waste"

\
dition Of "a bowling waste"
General Butler's New Orleans Procls ma.
tion-The Financial and Union Ques-
lions I'm the South-ImpenslingC Collapse
or the Rebel Treasury.
| General Buffers proclamation to the people
| of New Orleans, which is before oar readers,
is the most comprehensive in ib scope the
most precise in its details, the most emphatic
In its acquisitions, and the most generous in its
concessions, Of all the documents Of the kind
which have emanated from our victorious
military leaders. After informing the people
concerned that he comes among them "to
restore order, maintain public tranquility, and
enforce peace and quiet under tho laws and
constitution of the United States" General
Butler announces the city under martial law,
and specifies his terms, to which the submission
OF the people will be required; and for this
submission to the authority of the cold fag"
he offers them the full equivalent of the pro-
lection Of their persons, their business pursuits
and their property of all descriptions But he
will have no triAing, no nonsense, no insolent
displays Of rebel sympathies or emblems-
nothing out the flag and the supreme authority
of the United States.
But, while thus pointed and positive in his
rdrpi rnmopku uron tho c;f;vana nf tbo GREAT
city recovered by force Of arms from the dead
ly grippe of this wicked rebellion, General But
Ter is equally emphatic in his measures Of pro-
lection. He is not only just, but, lihs true
soldier of the Union, he is humane and mag
sslch rebel shinplasters as " Confederate States
Treasury notes" are good for nothing except as
is concerned, General Butler might cause every
indiv idual within bis reach to be arrested and
punished if detecssd in offering or receiving as
money said rebel Treasury notes. But be says
that il has been represented to him by the
OWL authorities that these Confederate notes,
in the form of bank notes, in > great I,ea-
sure are the only substitutes for money which
hepeople have been allowed to have, aud that
great distress would follow among, the poorer
classes IL the circulation of such notes shoaid
bsIat osce) suppressed !" and therefore, until
otherwise ordered ks will permit the circule-
tioR OF said notes smoag the people of Ns~
Orleans.
t,isto be hoped that these people, accord
ingip awaiting Themselves Of this generous con-
cessioa. will get their Confederate Treasury
trassof their hands; for what it will fetch, a.
fast spossibIe; for within the next sixty, forty
or tsenty days, such trash will probably pot
command five cento on the dollsrin any hole
or corner Of the South. The people of Rish-
mond, taking time by the forelock, are, it ap-
peasss exchanging 40 fast as they can their Csn.
fedsrats paper for Riehmond city money, in me
absence Of anything better; and this is the de-
ginning Of Confederate" fnnn ,ial revuls.on,
which, perhaps, before the end even Of the pre-
sensmonth of May, may bring the rebel Urea
sury paper to o sweeping South Sea bUSble
explosion all over the South. After our oecu-
pat.sn Of such Southern financial and CONNER
cial. centres as Nashville, New Orleans and
Nesiolk, our occupation of tls Confederate
capital Of Richnond will, financially, be apt
to-setsle the whCIs question, in the general re-
pssliasion throughout the Soath of their Con-
fsderase Treasury paper. Surely, with the
rSbel government put to fight, its promises to
pay will follow it. and speedily buIFit in a
great heap o. its exploded swindling shin
3lasters.
Thus. within forty or twenty days. from our
occupation Of Richmond, she deluded people
Of our reballi0us States, in addition to all
their other losses, privations, suttsrings and
missortunes from this rebellion, will pro-
badly find themselves visited with the dead
loss of perhaps no4 less than two hun
dred millions Of dollars in Confederate Treasury
notes, and with nothing to vouch for this paper
but the ghost of . spurious government do
stroyed, or conspiracy Of Jeremy DiAllers
flying for their lives as fugitives from Justice.
We cannot avoid the conclusion that this
impending rebel financial revulsion in the
South will thoroughly cure our suffering South
srn people Of their devotion to Jef. Davis and
his confederAtes To save themselves, the
people involved in these tolls Of their rebel
government have been struggling desperately
70 maintain IL. But this financial explosion Is