Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1863-11-04
91bnttiser:.
RI sIMKINs, pURIsoE q co.
.Br EIeuRsr.
From the Southern Guardian:

BIZ SIMKINS, pURlS0E q Go.
.Br EleuHsr.
From the Southern Guardian.
Mn. Ep1roR: 1 would thank you for the
ns4 If vour columns for the purpose of review.
ipr briefly the financial scheme proposed by
Mr. Gregg in q letter .ddrcsseabS him TO
Mr., .Melnmiager, and also tor tn, purpose OF
mere.tine a pplan for absorbing theredundant
cnrrsncy. The essence Of Mr.. Gregg's prop
,,;t;on Is contained in the following sentence:
sand. secondly, the lazy of b tax or forced
loan of 25 per cent, or as much more as may
he needed. upon the property of the country
Such a.tax or forced loae would, ip my Jufg-
ment. uecessitate the sale OF o very large
amount of property. The wealthy planter
.would;be required. to part with.a portion, per
lxps.:of. his. ancestral estate ; the farmer OF
more moderate means and fewer pretensions,
would be called ON, to divide his snug little
farm. to add to and to shspe which has been
the work OF years, and the ambition Of life;
Init the DOOR man, whatever may be ns occu.
patton, whose property il not dlrislole, woua
be forced to sell his very hearth stones, and
his family would be turned -adrlit, homeless,
aud without shelter, and who, at last pincned
by want, may bedrivent to the pitiab bic extrem.
ityof begging aims, -perhapsa at the door OF
the rich manufacturer. Such results, verify
believe, would follow the adoption by. Con-
cress of Mr.. Gregg's scheme. But who are
to be the. purchasers2 Arc We to import
FUN EuropesndY ankeeland, capitalists who
will bring with them bags of gold and buy up
our depreciatedcusrency, and then re,9Vest
in land and negroes! Such men would not
be allowed to. come within our borders. Then
again, I ask who are to be the purchasers
Iemphatically.a and without hesitation, answer
the manufacturer, the blockade runner, and
the general speculator, Een' who Fave aecu-
mulated princelY wealth out of the pending
war. and who are now. al they have been for
month"; past, ransacking, either IN person or
through their g SCENTS, the whole country, Tor
the purpose df finding out profitable and safe
investments Tor tl:eir imnaense gains.
But Mr.. Gregg seems not to have -anticlpa-
ted auoh results, for he tells US: " believe
fnsre ar. few men Of property who could not
rsi,e the money to psy the tax, having bonds
to hysothecaie.n Having bonds tohJpothc-
csteI What bondsf Does he refer TO Con-
fsderste or individual bonds? What class is
there in the community that have bonds OF
any kindf The planters, as q class of pro-
ducers, certainly h.veno bonds, if y r.Greeg's
testimony il worthy of credit, which + will
not doubt, for heinformS us as follows: Our
n~lantars possess the wealth and Intelligence
of the country and ruieit destiny. Indebted
rs they were at the count nenceraent ot.the
war. tley were not in 5 situation to invest III
bonds. 1t is not reasonable to expect them,
ti,en. to volunteer to icvest in bonds ut the
expense of mourning new debts or the necesui'
" of selling PROPERTY. Many. very many Plan
ters who, subscribed to the Cotton Luan, sold
the bonds immcd .tely, and invested the pro.
.ceeds in tho pay 1.4nt of debts on land and
negroes Hence the planter, being IN debt
and Lsying no bonds to hypothecate, in order
T., meet this "tax or forced loan," will be
compelled either to sell or hypothecate bis
property 70 the lordly capitalists of this val.
Bat Mr.. Gregg has fallen upon an exponent
which he assures us will carry himself and the
ksx payers safely, through our clfhcultles. !
will quote his language: But 1t would not
be necessary to require cash from individuals.
tax note would be taken. This tax note,
having a prior lien over all other debts, and,
il addition having.the bond co.lateraisa attach
ed. would command money anywhere by
snch means the Government could DC douot
raise any conceivable sum OF money, and oy
such mean, woulJ-at the expense, however,
of the agricultural interests-afford the very
bsst security for capital, and the capitalists
would no longer be annoyed BY having..H,.
move the country in pursuit of ,l9 suddenly
ments fog their capital, t hphh a consuming pa
and violently oss66iSld impel them ito invest
tEiot'smax2a4oyernmeut stocks. But can it be
isSsssible TINT Mr.. Gregg, in o letter written at
the instance, and by the invitation OF a public
fanctionary, and in reference TO a subject ac-
knowledged by all to be of vital Importance,
has deliberately proposed 3 scheme by which
his " interest will be certainly and conspi-
%cuously enhanced, while that Of the ,aass Of
the people will be as certainly materially dam.
aged? Let us rather suppose that, wbea he
was penning that letter, q film had obscured
hi, mental vision, and that his brain WAS
fatigued and confused BY reason of the great
toll incident to the counting up'the gains OF a
day. But-the time has come, Oh! my coun'
trymen, when it behooves us, one and all, ear
nestly and in loud tones to petition Heaven
to save us from strategicai flnancisrs-. In re.
gard to Mr.. Gregg's suggestion 70 pay-ot tho
whole debt by means OF i've cents por pound
export duty on cotton, | will ouly say that l
regard it as the entering wedge OF ac?ncerted
scheme to tas.en rpon the people OF the Con-
ieleracy in tips Of war q protective polic? AS
discriminating, burdonscme and odlons as that
monster system of tbeo old United States which
those eminent statesmen. Calhoun, McDutiie,
and their cempeerss, with such u%''tiring zeal,
and ability. for 50 l7ns a time en-
deavored tc overthrow.
I win now proceed to Indicate a plan by
which the redundant currency may be speedily
and equitably absorbed. Let Congress enact
8 law requiring every corporation, company
er individual, from a blockade runner down
to a chicken dealer, to vest in Confederate
bonds bearing a rate Of interest not greater
than six pereeutum, three fourthsof all profits
made respectively from the first day of JAN,
1852, 70 the thirtyirs day of Dscember: 1863.
/ will enumerate some of the advantages de-
rivxble from this scheTe.
A sreat deal of the currency would be GER
tainly and speedily absorbed, and thereby spec,
-ufation will be promptly checked. The debt