Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-11-03
IMPORTANT FROM THE SOUTH

I4MEOhIANV EhOm 1dE SOUVd,
Collapse OF the Confederate Finan-
ceS.-A Forced Loan the Only Alter
native.-A GLANCE Mt the Owl and
Political Aspect OF Ahatrs.
THE REBEL PIEANoRs "A GLOOMY EXHIBIT.
The Richmond Enquirer of Oct. 9th,
publishes a long communication sigaed
Sentinel and headed "Plain truth plainly
told" II opens thus:
"The leading facts of our present condi-
ton are such as these: We find the prices
of all things senormOusIy high, but unequal
ly SO. The staple property of the country
is worth two or three-in some cases, four
times its old value. But many, indeed,
most of the articles of consumptiOn-food,
clothing, and the like-are from five to one
hundred times their former prices. The
inequality of rise is as significant and inn
portant fact as the rise itself. Another
great fact is the constant increase both OF
the rise and the inequality. And this In
crease based upon sound bottom, viz:
the constant increase of the currency, Mr..
Memminger will still grind out currency
night and day-but then, what is Mr.. Mem
minger to do2 Whosoever is not truly
sorry for Mr.. Memminger is hardhearted
man. WhosoeVer throws light, great or
small, upon this subject, benefits the whole
country, and all its interests. Nor will
any man be more thankful than Mr.. Mem
minger, who occupies position in which
the danger of error is great, the conse-
quences of error disastrous, and the odium
of error intolerable.
The currency Expresses us only less than
the Yankees. 1t would be a great conye.
nience to many people to suspend existence
forten months in the year. They can hard.
ly afford to remain alive. AR y Cneap and
water, but nothing else. The effects Of-an
increase of circulating medium upon the
scale of prices have passed from the prov
inces of speculation into that of history.-l
Everybody now knows them simply as
facts. Yet, despite this knowledge, and
finding ourselves embarrassed already into
a currency hundredsot millions in excess,
we ale compelled for want Of knowledge
how toado it better, or else from the dire
necessities Of the case, to issue still at the
rate of $50, 100000 per month, or $780,
600, 900 per annum.
We desire TO present, not so much an
encouraging OF, -discouraging, as true
two years of bloody and desolating war;
notwithstanding all our difficulties, we
believe it to be true that the Confederacy
is stronger in material resources to- day, if
properly distributed and managed, than at
the beginning of the contest. Foreign
supplies on, hand at the beginning have
long since been exhausted. But two an.
nuai cycles of demand supply, of produc.
ton and consumption, have demonstrated
by actual trial the self. sustaining resources
of the country" 4
Then, after alluding to the bountttul
harvests, as cause for thankfulness, the
otherside Of the picture comes up for con-
sideration. The writer says:
"Food, and clothing, and labor, and
property, real and personal. have expanded
immensely, but unequally IN value. Some
things remain at the old standard like little
Gullivers among the Brobdinags. Others
have risen two. o.fold-an enormous rise;
but others still i've fold, ten, an hundred
fold. How stupendous these charges =
We scarcely realize them. Some future
historian will record the history of these
commissions in which we live, aud men will
wonder, as they now do, at the description
of EARTHQUAKES in Calabria, or the rise of
islands from the sea. This
is not mere exaggeration. Ask the sala.
ried man, trying to stretch his unexpanded
salary to meet his expenditures, after re-
ducinR these to necessaries. Ask thou
sands upon thousands of those as hard
pressed as Government itself, for food and
Faiment. scant and coarse. We speak not
these thugs as croakers, but would gauge
our evils to get at the remedy.
Not only is the scale mot uniform, but
lii is not permanent. We have yet to
come back 10 the old standard. We
have to touch gold again, and then, unless
previous provision has been made-pTesto.
all things tumble 70 their true level, and
so debtors will suffer.
At the begipnipgi of the war, Felix
Debtor At the close, Felix Creditor
Beware of the pofteulIis, both Of war and
Of peace. That OF war has already fallen
aud done It's work but when peace comes,
| owe no man any Thing on war basis Gov
ernment will then be q great debtor and
| stands in need Of peculiar caution.
Government finds itself in this prediea'
ment Itself sufferer and the people
| snffsrinR. Il Is auxioas to relieve itself
and them. Bat what means has the Gov.
iarnrnenf of afFofding relief7 A bank issues
nates. but it receives notes in return. For
every dollar. that goes outtin currency It
receives q dollar in the form of q note, and
when the note falls due it receives its due
| az hl equivalent dollar back, But ittsinot
40 With the Government; Il pays out, out
| ont, but takes no notes-feeeiyes no return.
/ ne expenditures are consumed as they 60,
| Trne, it has taxes coming Ia, these are its
ine6s.e; It has NO Pfoptfts, : These taxes
furnish the only means OF redeemipg lts
NOTES. The wants Of the Government are
necessarily immense. We append below
an estimate Of what they are for the cur
VI ....A liz nnnnkha