Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-08-21
srnp = pREasi

thing we eat, drink and wear for the present,
and for the future is laying up an additional
load of debt to crush us with taxes-us and
our children unto the third and fourth gene
ration. The more money that dreadful in
strument pourS on: upon US the less money
we have. We shall be beggared at last by
our enormous sums of money, and buried I'M
der mountains Of paper.
It is not the. Secretary's wish to food us
with any more of his paper. Gladly would he
stop his press if he could. lie knows as well
~ any one that the country has already far
too much Of this sort Ut money; and II be
could gather and burn q hundred wagon loads
Of it, he would dance with joy round the fire.
But what can he do? The public services
must be paid in that which passes current as
money and if great foods of it are always
nasslng out of the treasury, and but little
coming back, he must supply the deficiency
by new, and ever new issues, until at last the
volume of currert paper must be SO much in
sxcess of the commodities to be purchased
with it that those who have anything to sell
will not believe that they can ever demand
too much Of it for a pound Of beef or o pair
Of shoes.
And there has really been no need Of such
an enormous depreciation nor is there new.
! The debt of the Confederacy is easily within
the resources of the Confederacy to pay. 1t
has been contracted 10 secure a great object
the independence of our country-which no
lust or reasonable man can deny to be we'll
worth the cost. 1t is good atthis day-unless
we are to be conquered and held in subsection
by our enemies which we do notlntend to be.
Yet there are certain causes in operation
| which have accustomed a regular and pro-
g~ressive depreciation. Some dwell more on
one Of these causes, and some on another :;
but in fact they are all working together to
the same end. Trade in gold for blockade
running across the Potomac-purchaso Of
State bank notes and State bonds for the
same purpose, or even for specializing in at
New York-personal extravaganza, and in
diligence in foreign luxuries-the action Of
some banks in refusing to receive on deposit q
certain portion of the Treasury issues, which
not only discredits that portion but oil the
rest also-the action Of Congress in altering
she terms upon which the first issues of Con-
federate paper were expressly made, and thus
giving occasion to the banks to discriminate
and to the people to look with som degree of
suspicion upon the whole financial SYSTEM
We do not Intend tc examine whit specific
share each of these causes has had in effect
ing the general result but take one of them
oy itself, and consider how it acts. Those
who havein hand on accumulation of this paper
money con, if they choose, invest it in govern
! ment bonds, OF lend it to the Government on call.
To whatsoever extent they do this, to the same
extent precisely they place in the hands of the
! Government bills already issued and used, to
make payment with these instead of printing of
more fresh ones; and to this extent they block
he fatal machinery of Mr.. Memminger's Press.
| But instead of investing in this way, at but a
| moderate rate of interest, they see o thousand
chances of speculation open to them all round,
which will bring them in, not six or seven per
cent, but one or two hundred per cent; they see
lli their ~neighbors rushing eagerly into these
populations; it is a fever of greedincss and
Jain which RACES like an epidemic; and what
IS worse, there is q reckless and thoughtless
Public, demanding all sorts of tuxuries, no
matter from whence they come, nor how much
hey cost. Men hate to pay taxes to the Gov
,rnment, which would make the money that
rcmains to them of moro value, and never
,rumblca at p~ayinsthe fabulous prices which are
demanded for blockade-run goods, though this
operation is continually making what remains
Of less value. They think they may as well
enjoy and indulge themselves with this money
while it will buy anything, and thus hasten
the time $50 far as they are concerned) when
it will buy nothing. While tho Government
is holding out its hands to receive its own is
sues to defray the public services, providing
methods of depicting the excess of currency
by taxation, by sale of bonds, by taking loans on
call, in order to stop Mr.. Memminger's Press,
Keep commodities within reasonable price, and
.'ay the increase Of the debt, which is to weigh
Town the country for manya year-the People
N their side will rather give their money to
anybody else than to the Government-they
would rather give it away to the enony than
lend it to their own Government. They give
away bushels of it to procure credit in New
York. or in England, for the purchase Of fine
dress and wines or (what comes to the same
thing) they purchase theae foreign Injuries
when they come, and so maintain and enoour-
ago a whole population Of specializing impor.
tiers, who do invest their money for them in
this ~ruinous traffic. The general recklessness
in this respect is almost incredible, particu-
larly when one knows that the very persons
who thus waste the life blood Of the land are
often highly patriotic citizens, or even SOL
diers, eager to make any sacrifice, even life
itself, for the common cause ready to do and
dare anything for it, except forego those little
indulgcpcies which they see everybody around
them enjoying without a thought. 1t is i'm
possible to reason with success against mere
thoushtlessnesr. Every one says, What can
T do! What difference will it make that one
individual denies 'himselfn dozen of wine, or
hi, wife o rich dress? Or, how would the
Government be benefited by my poor roll Of
bills lent to. the Treasury? I may rs well
spend it to day-to-morrow, perhaps, it would
purchase MIC less enjoyment:
In the blsckade-running vessels from Eu-
rope, often come quantities of wine. hen
who have always kept a & good house wish still