The New York herald., 1862-10-27

plan does contemplate the government payipp ont
anything other than Treasury notes II s further the IN
terest az the TO obtain circulation in tho
South of its notes, Tor every dollar OF United states cur
rency circulated there deprecates OF necessity their
rency and 10 deprccate their money much
out OF their hands whereby continue the rebsiisn
Further is not ae believe, the interest OF the 20
vernment, when Il shall have established law and order
again in the dsoya States that its people should be
crushed and wholly ruined but that prosperity SO
Is possible in the nature Of things should attend them
1u furtherance of this view would state that have Al
from sources entitled TO know that least one quarter
OF the cotton hand exposed 20 dsstruct from
The fact that there Is great deficiency OF bagging aud
bale rope IN the South which the could pro
ect and from waste by allow ng these important ar
tclos TO be sont South at the same time promoting
interests Of parties In Kentucky who now greatly in
convenienced by holding large stocks oil baegng and
rope without being able 10 effect sales except at de.
pressed and runousy low prices This policy would be ap
precisted IN Kentucky ,@nd am not able TO
how II could prejudice the interest Of the government
for presume could get OF the south without
the consent u the government.
Eighta-IArge quantities Of this cotton is held by or
under control OF banks bankers, commission merchants
and Others VINO have made advances OF money and credit
~ great extent on the The Southern banks TO
the extent OF at east tcnths their capital are
owned North, and their stockholders would make large
profits through the exchange which would be created By
the sale Of these products the best OF Southern money
al home rates from thirty forty per below United
states Treasury notes or Northern exchange caDnot
doubt these parties favorng this scheme as thereby they
would collect their debts, and DO able 10 reduce their
circulation and be prepared 10 payment a once
after tine conclusion Of the war ana certainly with such
favorable opportunity realize IT, cotton held a. se
cury they would not hazard the rsks Of the blockade
its being conscatcd BY either the confederate or edc
raj governments.
Nnh--lbc politicians aud leaders OF The south ineui.
cate the idea that the Northern armies are sent there with
from the government to devastate ana de
stroy, which regret tossy too generally believed but
when they should see the armies enter their country pre-
tedcd by such proclamation this plan contemuatcs
Offering protection to- aud highly rcmnneratng prices for
soutsrD products, they would instead Of dfesdng the
arrival OF the armies, receive them a. protectors and
friends.
7snt-lt is a fact well known to all intelligent men
hat the people Of the South have more confidence in the
federal money than they have their own Confederate
States issue Southern banks which are so Intimately
connected with the government by means Of loans ana
otherwise. I viii here venture opinion that circu.
ating generally through the regions OF one hun
tred millions Of federal notes, would do more towards
this rebellion than would an army of one
hundred thousand sent for and ndscrimnate
to say nothing Of the benefits such policy
would reflect upon the federal government and the com
mcrcial world.
Estynh-This plan In ts operation would suppress ana
prevent the hosts c army officers from turning specua
ors aud dcvoting their time and opportunities 20 money
making instead Of the interests Of the army and country
In conclusion, would urge The necessity and poll CIV of
ne handling all the Southern products during
be war, Invariably paying for them ~ federal Treasury