The southern enterprise. [volume] (Greenville, S.C.) 1854-1870, 1863-01-08

beneHtted. One bundled pounds starlius
now cost three hundred pounds In this eoui =.
ivy. 1t may soon be worth five lundro,,
ponnds IL nofremedy be applied to the
advance on Il. who can say that "a the
course even OF twelve months, Il rnsy not
command five thousopd pounds. Es,imat.
ing steriing-as costing us three hnn,lr, d, W.
can afford 70 take for nur bonds snId In Enr-
land, thivty-three and sns-thirtl -spts in the
doilsr; st dve hundred, wecan take twenty.
hys ce4s. We are assni ed however, that
road bonds, endorsed by this STAT. hav.
sold 10 oEnglnna ut fiftJ cents in tho dollar.
A. this raio ak or seven per cents of the
Confederncy. endorsed by the State, should
bring at least sev.nty-f five; nay, heif.ya
that with an active and efficient agent there
TO dispose Of these bonds, they would bring
par; especially " some means he taken 10
pay the Interest there promptly. Taking The
current rates Of exchange fly cents on the
dollar, these will be worth one dollar aud n
hnlf here .revcnty-fse c.nts, two dollars
aud q qnarter: aad par, three hundred. III
other words. II We can get pnr for oar hon,is
abroad, we can make all cur purchases there
in our bonds rs though they were gold and
silver Those purchases abroad are very
heavy; what with navy vessels. arms. AM.
various siuds, several miilious nrc d sru n.! .
ed. And here let me say. incl lentally, ia q
Reason ~l'y this State should guarantee. II
no other does. She slune can from. her
quota furnish the government au issue of
bonds by which this sterling exchange may
be created.
The remedy thus suggested conmcu,ls itself
as. p' ncicable. Ii is oasy to try il. Il we
ftrd taat thcso bonds cannot thus. be aispasr,l
..F la. L. -
from what has been said, that this difficulty
will not meet us. Th, boEds will be sought
otter; and the Confederate Government hay
ing this issue os bonds in their hands. may saw
to the capitalists Of this country We kunw
tho value OF thcs" securities, aud will no: s,l!
them below Fifty per ceu;. premium" II the
demand for bids bc made, accompanied by the
announcement that no bid will he onsidcr>d
under that rate. the whole issue will be taken
at 1t: moro than this, eager will he the de-
sire to oh:ain those securities, that higher bids
will he pr"pb."d; and | woud not 10 surprised
il tIc bonds should r"alixr Two dollars for one.
1t is schcnip i'll which nil tho states will
join us. There may bt hesitation for n brief
period on the part Of some, but il will only
continue until ihe advantages OF tho .hrmr
are realized. by it they are committed M
farther than they have been already. Is not
ca"u ono rs :ruiy bound in equity for her pro-
portion Of the doht. as if sho had ny act assum-
ed it? Has it not hcrn incurred Nv tho Cen
oral Agent on behalf ~ all? aud can any fail
L" be dishnnored. unless the debt be puil, or at
lcast grlcrs that state shall have arranged for
her pr"p"r,iom'
10 is a remedy which will certainly roSuec
the price, of all articles for sale. Those i'm
ported from abroad will cost less, because ia.
parties importing can send out these bonds
Tor payment Instead of running the riska of the
blockade with cotton. Any amount, too, can
far,
case with cotton. tn complain OF the wan, Of
ressuls. single vessel could carry the whole
iSnic in corner OF its cabin Purchases
would linus be made with n single risk--liat
or tho rctnrn cargo. EntrrrlSing men in all
directions would Increase tiIe number uf ,hn.o
bringing such articles from abroad. Thus, not
osis could the K"S.ls be brought moro rhcariy
but the supply woud bc nearer equal ta the
demand, and articles imported would bring a
value no greater than the risks run woudrc-
tunliy deserve.
AZ home, tho redundant currency would be
drawn in Depreciation would be but slight;
Confederate money would be nearly equal T.,
gold and silvsr; nad almost all articles would
sell then for what they would sell now 10
specie.
II these Things hc trrs, this renee will also
cnablo the Government to proaecnto the war
with creator viynr. Its supplies will he shear:
its command Of money will bs unlimited; ov-
eryihing necessary for success viii DC ntt!ina-
Bile; aud with c-mtentcd and buoyant hearts,
the psople will su Stain 1t. ~ =.
Before taking my seat. Mr. Speaker. 7 dssiro
to call tho attention Of the House to the rcso.
luti"ns on this subject. which are said by the
papers to have Lately passed both Hogscs of
the Legislature OF .ilabama. | will read tEa
resolution, and then proceed to compare them
with tbc bill before US.
ISTHRyspLUTIoSs ~ RELArIos TO rTs WAR
= DEhr OF fRE ooSfsDxRArk STATES.
Whereas. the Govcrimcnt of the Confedc-
rute Flats is involved IN war Tor the indc-
perdencc bF each nr the States OF the Cnnrod>-
racy, as wun ns for its own exi-trncc; ar,f
whcrcus,tbc destiny ofcach State of the Csnfs-
dcriey Enthusiastically connected with that Of the
Confedrrats Gorvrnsncnt; nni whcrcns, the
Confederate Govcrnmcnt cannot successfully
prosecute the war to-a. speedy and honorable
pcaco, without ample means Of credit; be il,
therefore, . --. &c.. "' .r.f
Rcsoir"'i ~ ne !S,an'e and Uon.r Of Rep
rcSentaiirrs Of tie State o. >tkbuma. il Gsne-
rrat ,,t'se"biy c"nrcned, That in tho opinion of
this General ASSEMBLY, IT, . tue duty Of ea"h
State Of the C1ntc'!orIsy, for tho purpose Of
sustaining the credit OF the Confederate Gov
crurlcnt, to guaroatce the debt of that uor-
crnment in propprti',a to its representation in
the Congress ot that Government.
Resoiced, fHrtko,; That the State of Alabama
hereby proposes to our sister States of tho
Gonfcdcracy to guarantee said debt ON sa:d
basis--providcd that oach Of s.:d States shall
accept the proposition aud adopt suitable lr-
gislation 70 carry it INTO effect. in which event
these resolutions shalt stand "a tho guaranty y
of this State for The aforesaid proportion osthc
doht of Said Confederate Goc"mmeni.
Rssoic6d, farfhFr, That Lis EXceleucy the
Governor he, aud he is hereby, requested TO
transn,it u cory OF thcsa resolutions to tho
Governor OF zach State Of tho Confcdtracy,
and 10 tho President OF the C"nfcd5rsto States.
There are three points Of dFereure between
these resolutions and tho Biil originally pre-
scented To this House. - -.
In tlie firsr place tho Alabama resolutions
cover the whole debt Of tho kunfcderate States.
Tho bill before US proposes s;rnply guaranten
upon bonds ~ q osrtain amount, and il intend
ed "a apply to a future iss'ic, aui not at all 10
n past one That tlie States are actually un :
der obligations to pay tho whole dsht, or to see
that IL is paid, Is. think. unauestiUnable.--
Aud when the proper time shall come for sucll
equitable action, / hope, sir, that eouth Caro-
lima will not be found wanting. But tho pre-
sent exigcneies do.not require soch aetion.--
We are o.led on simply to reduce our oirca-
latiOn, TO appreciate onr eurrency, and TO So
cure % the Gbycrnmsnt fnhds abroad fer pur-
ehasing rs 'spppliss. IT, is on this seeoun,
that I aeynea IN This raeasurc not for the mn r.