Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-12-24

been set at defiance by the States andsfhe
lspe0pIe, hIEe the blockade has
fectually dried up al those golden streams
which might othsfwfse have gladdeped
his. eyes in the shape of duties on imports.
Oh the other hand, Mr. Chase feels as.
sured that thesreceipts from customs and
internal revenue VIII, during the current
fiscal year, reach, say from customs US
5O0, 600, and from internal revenue $780,.
1901, 900, being $43, 900, 900 morest han was
received from these two sources the last
wear sl,szs7r
The Federal Treasury obtained from the
sale Of bonds and the issue of pertih
of Indebtedness during the year ending
June 8Oth, $465, 083. 232s Memminger les
ltimating for one quarterl was able 10 force
off in the shape Of bonds and certificates,
during his last fiscal year, 1881 ,0S1, $50.
Our Government issued in United States
notes during the year, $3lls454, oTs, while
Memlnipge set afioat of histreasury notes
$$b22, ls4, no., a9s.,
The contrasts and companions uggested
by these two Glasses of figures are full of
meaning. The rebel Secretary could, not
persuade his co. spirators 70 inyestinhts
bogus bonds beyond what they were COM
PEELED to do in order TO get pay tortsnch Of
their goods and chattles as the Government
seized, though they bore INTEREST at g. per
cent. per annum, while the people on this
side of the Potomac and the Ohio, having
confidence in the stability OF their institu-
tions, purchased the Five-Twenties, bear,
ing g. per cent. interest, by hundreds OF.
millions, as a permanent investment tor
themselves aud their children. But, DUR
ing the same period, the Confederate treas
ury crowded of $2lls000,0Q0 more of
treasury notes than our iGovernment yis-
sued, merely because, thong he could not
persuade his constituents 20. bny bonds, he
could compel his creditors to- take notes.
In, the last fiscal year our expenditures
we're $Tl4, T09, 1896, while those oftthe ms
surgents were $685., 49l a 2=-our War De-;
partmept requiring $3.50, 2s3, 6o0-the1r's,!
S5Q3, 1874, 32b. .b9ls9ti3I 50 n 5@4siis@ti
Judging from the figures he gives US,
Mr.. Chase estimates that should theWar
icpltinue to be. prosecute abwitho its present
prpportiopss sit will require, lin
addition to those sure reliances,a snchias.
receipts ,fFpm CUSTOMS. INTERNAL revenue.
and kindred sources, that Congress pro-
vide 736, 646, s4l. to carry the Government
triua. bhsntly on TO theopening of the year
1858. This is a large sum. But scan the
Other. sides the pictures Mr. Memminger
admits that, to carey his Government TO
the threshold OF the year 1866 will, under
his present system of finance, require
S., 427, 44S ,7Tss ''tphiet,r he says with em-'
phasis, "Congfess Is formally called upon
to pfOpi9e,n 4 4.sl,l 1sn v,'f .soeaa (
But it is in the modes and means of sus.
taining these vast operations-ths plans
aud spoliciss,f for replenishing their respec-
tive, coffers-that the greatest ditfereucei
between, the loyal and the Rebel fnancier
is discovered. aBiJ 10 za' 81
We take for our starting point the price
of gold. In Washington, 81 so in Green
backs'1 will procure 81 in gold, and the
margin between them is diminishing. In
Richmond, SIG in sc Grey baeks1i is required
for gold dollar, aud the margin between
them is widening, In - word, our, paper
currency is, in the capitals ofsthe two bel.
ligefents, worth full ten times as much as
theirs. : ~ ydg 1aI :. 4
To carry-us forward to January, 1866,
no novel system. of finance, scarcely any
new legislation is pecessary. Mr.. Chase
US that deposits for temporary
loans with the Treasurer and his assist
ants, will give him at least $25, 100000,
aud.we doubt not IT, can be3mRde TO ,fure
nish him double that amnnnt.e The Five
Twenties yet unsold will give him more
than $780, 90, O00i and that,yery speedily.
He needs to borrow some $500, 900, 600 to
carry the war onward to- the closeof this
fiscal year, June 80. He is certain he can
obtain this amount at a moderate rate of
interest If, in Gonsequence1 Ola laggard
policy in the. field, the war should be pro-
tracted till the middle of 1865 (and we do
not see bow, unless we so Wilt, the Reh.
els, can hold out so long) he is equally
confident he can obtain lhe four on Eve
hundred additional millions for this OBJ.
ject, and at a reasonable rate OF interest
and on fair terms. p So much for the
Northern aspect of the question.
a, Let Us turn our eye southWarGa. The re-.
port of Memmiugel, like the message of
Davis, is frank document. He devels
opes the tloleful condition OS his Golfers
with sincerity that seems to draw its ih-
SEPARATION from despair. His scheme Of re-.
lief is practical reputation, The "Con-
federaeyn owes q debt STA Thousand mill
lions OF this sum, on the 7th of Decems
Der, $49l, 623, $50 was in Treasury Notes,
bearing no interest, and worth in coin
about seven cents per dollar. Memmihger
proposes to authoriae.a Confederate loan
10 the snug sum of One Thousand Millions
of Dollars in, 6 per cent 90. year bonds: q
Then, to levy q tax tof 5 per cent on HaIi
property and .credi ts''s ia the Oonfederaey,
TO pay the interest. Then, to compel ali
peFsensl who hold these Treasury Notes, to-
fund them in this new stock by stheitiFst Of
April next, or see them repudiatedi bY the
Government giving, however those luck
less traitors living west of the mississippi,
on account Of the unwarrantabls interter.
enee of Gen. Grant till the Let oSs July to
fund theirs; and six months from the lst
oftApril tue notes he deelared utterly,
worthless. Es 1855 sis3l;t
Those now holding eight per cent. Con-
fedeEate Stocks are to- be allowed 10 take
this new six per. cent. stock att par, and
those now ding stocks having . lesser
rate Of interest, to- be k'scaIeds accordings
| ~, In the meantime, 5000, O00, 600 of new
In fne, Memminger proposesitoy create q
new, debt, and compel the holders of the
Ole. one 70 merge their otes and bonds IN