Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-04-24
OFFICIAL JOURNAL OF THE CITY.
FEDERAL FINANCES.

The financial condition of the Lincoln gov
eminent is getting worse with every days pro
gress of the war. So far its credit has been sus-
tanned only by system of deception and un-
serupulous mendacity. The people have as yet
failed to feel the grinding weight Of the nation
al debt that hangs over them, and is acnmuls-
ting with such silent but fearful rsPidity. The
money with which armies have been equipped
and fed, and navies CONSTRUCTED, has not been
w1enched from the hands of the people, but has
been manufactured from waste paper through
the easy insIumentality Of an ordinary press.
But the time is gradually approaching when the
financial ssgscity Of Secretary CHASE, and the
fiscal strength of his government must be fully
tested The war debt is running up to such fig
ures that some show of ability to make ends
meet viii have to be made very speedily as the
only alternative to national bankruptcy, at least
in the event Of disaster Overtaking Federal
arms in either of the great battles expected dur
ing the next thirty days
We see it stated by the Washington CORE
spondent of the Cincinnati Enquirer, who is
always quite as accurate in his assertions as is
possible with any publication il d northern
paper, that the Federal Secretary Of War says
that the increased transportation required by the
advance into the territory Of the Confederate
States, has increased the expenses of the Lin
coin government to f0s millions dollars per day.
% More, in the language Of the same couespon-
dent, than the printing machine has the power
to supply" He alludes te the Federal tax bill
introduced into Congress some weeks since in
the following manner:
The tax bill is an awful affair It will raise enor-
amount Of money destroy vast amount Of bus
the other. II wi pass Congress The pub
lie debt BY the lst Of July. viii reach Sl,500Ot0O00
That is the calculation Of the chief aurOT Of the treasury
think short Of the reality. The public really know
little Of what Is the true condition Of the finances They
VIII ind It out hereafter when they called upon to
pay the iuteres Of the public debt. The principal no
person expects UA eDer Be paid!
This is doubtless very fair and candid state
ment of the case, and develOpes the fact that
some other resource must be sought very soon
for carrying on this atrociOus war, than waste
paper and printing machine. While, however,
we may expect the enemy to be greatly embar-
rassed financially, if We viii only hold him in
check, until the approach of summer, we need
not entertain the hope that his troubles will
assume such a character as to altogether impede
his military operations The LINCOLN divan-
whose corruption and dishonesty are only e1-
ceeded by its rancOrous hate towards the South
are determined to prosecute their aims in the
face Of certain defeat, even though they be
compelled to adopt the system of forced loans to
replenish an empty e1chequer, and every other
vile badge Of despotism, indeed. that has ever
characterized the monarchies Of the old world.
Let US not, therefore, commit the too common
error Of relying upon the weakness of the enemy,
but rather upon our own strength.