The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1863-12-24
-aor.,s Csbdltion Of EsbcI F~in"aee''

-.ou.,s ~Csndition of HsbeI in"ae
T. lie recent message, JEFF. DAVIS asks
.J;atn ond earnest attention 10 tIle Conoi
80 of tbe rebel finances. .s.ier iSEN" IS
H. PREVIOUS legislation on the 9"IJ' IL
~ IT. ,ha issucs of Tr11sL.E notes 40 d
o.aos I+,r 49, A M h~~c been increased un-
- o.ncj ofti4. tunes uAon lhe cur
- :, STIPULATION amounts u more liiai' SIA
ieHOy ,,,iIisug Of doIiars-ti.at is promises
u+r dollars ;.tt-r tic independence OF the
% Pdy "a acknowledged ~ the United States
than flree-fola tie amount requlr-
a by +be business of t~hdtountry.
THe report of MEMsnNGER, the rebel SscrS,
tow If The Treasury, gives the desperate
strSits r. which their finances are r5ute'a
~o-o IN detail lie says the exPenu''"
So Januarv l to September ~ Ioo2' were
&ETo PCS $40. of which 93al'S90' 81 VIC
e. tie War Department. Inc holllttlaL re-
ooin+e during tile same pcrIod were 9ouI o-%'
SOB 10 bnt Of this amounts 1891, 90 o9o were
Sresb issues Of Treasury Notes, while from tax
90 Iut S4I28, 98S.97, and from customs but
Sol 7Gs az were received. Tho funded pub
lie debt is 1922, ga, $40; the u~ntunded, 7Ol,-
457519: and to the latter amount must be
added 500, 600, 600 for the the two months
not iucjudtd in the schedules. IN other words,
the rebel currency in circulation reaches no"
the enormus sum of 1901, 447, 5l9, which Mr.
MEMM1MGER admits is five times its proper 81
mensious.
MENM1NGER, it will be seen. states the
amount considerably higher than 1t IS gwen
by JEFF. DAVIS. The consequences OF tins
dreadful state Of things he thus vlyidiy de-
picts:
10 heir preseat ext.nt involves he ruin d pubic ard gri-
vaJc credit, aud viii deprive me IgystnmGh L '' ~
q attending the lives and property CtIt3 eleLsrs. Il tHs
currency reaasHs in it, present EXPANDED IA % - me-slis
~ relief can be made ehse.utl e. nav t1.ss p-i.'s aus Gai-
" Id - eficj saey. Tlgss scomes Guiness By a'o4 Of he
eloofed aor I'd Gyss aid mutation, j un can 10 .olgp
g sg sa@t.f4 and "a ITE Ci0II&TEY HCSI sUlC, Abj"
The estimates for the ensuing year, added
to the balances Of appropriations not drawn,
$L.427, AS, IT'S; and Mr.. MEMMINGER has to
address himself to the task Of suggesting
ways and means by which that amount is to
be raised.
Thesplan submitted by which alone it is
doomed possible TO protract the life Of the Re
bellion, amounts in substance to a reputation
Of the present currency, and the raising OF a
forced loan. 1t is admitted that no ordinary
form of taxation or loan is available. aud the
proposed financial scheme accordingly takes
the shape Of general bankruptcy and plumber.
The scheme is az follows: A loan Of 81 900,
900, OO0the amount to be enlarged at will, is
to be authorized by the Rebel Congress, and
this loan is to be the means, in tho first
place, of effecting that reduction III the vol
ume of theEurrency, without which Mr. MEM
MINGER does not hesitate to say the whole
concern must go to pieces. But how to in
duce the people to exchange the present cur
rency, which will purchase commodities at
the rate Of six or eight cents to the dollar in
specie, for bonds which would purchase moth
ingl The expedient is simply to provide
that all notes not exchanged for the new loan
Oh or before April l, shall cease to be rcceiv-
able as currency or for dues to the Govern
Ineut. To the extent of 5000, 600, 000theirplace
is to be supplied by a new issue Of notes, and
thereafter tue amount Of the currency is not
to be increased.
In order further to stimulate the success OF
the 81, 600, 600, 900 loan, a tax of ) per cent.
ad colorem is laid upon all property in the
rebel States, payable i'll coin, or i'll coupons OF
the loan. Not an itc0me tax Of ) per cent,
but : twentieth of total property Of the people
Of the States that own the sway Of jefferson
is demanded.
Where is the coin coming from to pay this
enormous tax? Verify, the rebellion seems to
have reached the period Of collapse King
Cotton is dethroned, slavery las received its
death blow. One more despairiug etFoIt may
be made to beat back the armies Of the Tn
ion. But strong i'll numbers, confident Of sue
cess, and resolved to peg away till taa'last
visago Of armed resistance disappears, our
gallant armies will push Oh, and ere the close
of another year we trust the old flag will Mava
in uudisputed supremacy throughout the
wholeIand.-MadjSoH JoarHuL.