Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-11-18

! bssn markets
Y;pr series of fears has been four millions, Daducsing
one million for srrboeed dminution In Consequence OF
loas nj labor and three millions remain. Estimating
each hale 10 weigh 500 pounds export duty of ten
cents would Weld an annual revenue OF $50 per bale,
making an aggregate Of ose hundred and hiiy millions
Of dollars Tnis would pay the interest on 3 DEBT oil
two thousand millions Mt six per cent ana leave sur
plus of thirty millions Uni COST OF colecon) Sppi-
| cable 70 other expenses of the Government
have the statistics belore 10 show how much
revenue could be derived from similar export duty on
t1bacco and naval stores but We know that In the ao-
sence Of any export duty Eugand derives large guns
from the import duties which she evies upon our tobae
| co. France, by her R@gie or government monopoly,
exec in another form, an equal amount Ii appears
from Mr. Mercy's report commercial relatioIs that
leVies epscihc tax oil seventy two cents per
ooSnd and an dd UdIorsm tar of FIVE per cent on all
tobacco, snda specific tax oil 81 per
pound and an ad VaLorem tax If five per cent on all
manufactured u lcco. Should we now lay an export
duty of twenty cents per pound on aad
o forty or fsV cents ON manufactured tobacco, the
tendency would be TO compel Eogla4d TO relax her
policy Of restriction aud transfer large portion OF
the revenue which she derives from this source, from
her treasury to our own.
An Apprehension has been expressed that tie people
of the cotton States viii consent 70 the proposed
export 6usy on their staple do not entertain any fear
on the Gu, ct Tbeeye they will have the good sense
e. see thai they will not be D dred By IL and that even
if part of the burthen we're 10 fall on them, they
Wvuldin spirit OF patriotism, submit 10 ~ Tor the
sake of the cause in which are engaged The cotton
States have deeper interest at stake than any other
portion Of the Oonederacy. Their prosperity mainly
Independent slave labor Strip them OF that and their
ltnds are comparatively yaluelsss. White labor can
not be substituted for t in the cultivation OF cotton
rice and sugar. and hence their must become
waste II slavery be abolished. In the border ates
the case is dsrenk White labor may take the place Of
save and the value OF lands would not deprecate under
| the change Jf
Ths DE- o2e of both parts Of the Oonfederacy must
remember that this is no time for sticking about nice
questions of political economy We cannot stop 10 the
uidst Of revolution TO split hairs or weigh feathers
Our national existence stake. The enemy press
ing US on ali SIDES and must tax every energy and
resource ply steal and pecuniary to crry Us through
the death struggle. Every available man has been or
I will be called into the field, and now must bring
| into reqaisition all our financial ability.
We have two great sources OF wealth-one present
and the other pros ,ctve-oue in possession, che other
in remainder We must adopt the means 10 make both
available The first consists OF our property real aud
personal now In hand and accessible 20 taxation. The
last embrlces future capacity TO acquire wealth by
production aud expectation. We want money, AID se
wan: credit Taxation of our property, in possession
will give the ormeri pledge Of future lak on iu-
ture productions will supply the iter. Common seOse
aud common justice require that we avail ourselves OF
both. .@
4. The fourth ADD last proposition contemplates
rigorous stem Of t1xaOn 70 avoid too great an accu'
mutation of debt and Inspire confidence in tue fixed
purpose OF the Government AND people TO pay debt
present and prospective. do not propose 10 interfere
with the 1.-THE tax, any existing Law mpssOg taxes.
l can form approximate estimate OF what IeEenue
tho.e laws will produce. II will doubtless be larg and
il il be Insufficient the rate Ct tsxatlon should DC
ircrsasedy No ole would expect the GJyera-
m mt to impose taxes sufficient 10 meet all its cuI-
rent expenses To do so would burden tue pee
pie to0 heavily. But the tax should lie suhcelt
to meet 9 reasonable pars of them, aid 10
pic, the Government credit on stable bass.
Tns contemplated loan OF ten per cent Wouid
greatly reduce the cost Of maintaining the war
BY reducing the price oil everything necessary
to carry it The titbes, he Income tax, ahd tie
tax on licenses and sales added TO the seeus OF the
Two per cent. tax, would probably pay one half or
two thirds OF the expenses OF the G0Vernment TO
meet the residue, bsnds secured BY pledge OF an e1
port duty The articles above enumerated, should be
issued and sold in the market These bnl being in
tended to supply merely deficiency in the revenue
and not constitute the mau source OF il, would be
issued 70 so limited an extent as not 10 depreciae ma
teriaIy They would contribute an investments as tale
as any the government could furnish. The bonds OF
the fifteen million oau, secured by pledge Of an eI-
port duty on cotton of only oueeighth OF cent por
pound EoW command premium Of 50 or ~ per cent
aud hardly be presumed that bonds, 90 reason
able amount secured by pledge of duty of i've or
ten cents per poud, would tall below their par value.
But If they should bring but seventyive cents IN the
dollar it would be far more economical TO dispose Of
them st rate than to sell Treasury notes, aswe are
10 eff ct doug at ten cents in the dollar To buy
urupetty at ten prIces payable In Confederate notes Is
,alent to selling the notes for cents in specie
aud buying the property with the specie at one
tenth Of the same price,
This system OF taxation and compulsory loans wiz
re-estabsh he business OF tie country, in healthiu
condition. Il will relieve OF utiated currency
which is as Ijurious to tie body polite diseased
blood is 10 the animal tysem. Whatever embarrsss-
mel the government may sufer from prolongaton
of the war; individual rights and credit will remain
Uonf~eHoe in the currency will be felt by
the people and more cheerful pervade the public
m nd The relations Of debtor and creditor will not be
disturbed by donations in the currencyspeculaton
viii De arrested and the boarding Of supplies prevented
We can hardly estimate the mo.sl and political
influences which such change in our all ,irs would
er both at home and abroad. Dstrust Of orr cuneacy
has eOgendered dsirust OF cause. Do we not feel
encouraged by the rise Of gold in the NORTH And may
we not infer tina; foreigners witnessing the degradation
of our currency, will naturally conclude that our
ources nesrly exhausted and we SHALL efe Iona be
compelled TO sueeulnb for want OF means 10 carry
the con est? restoration of currency to sound
condition will inspire confidence. Let the MEM
beers of Congress feel hesitation in exertDg the tax
ing pOWes without stint. The people are ready and
anxious for it. The issue is not between giving aod
Withholding the required amount OF monty The true
leston s are We willing to gve-a part 10 save the
rcsidueS Al We bRve is at stake-our liberty, our
pronerty and our livee. Failure will be followed by
conf.casoD acknowledgements aud exile, or slavery
The properly holder who ill not eheerfuly bear tax
equal to what have suggested may well run up the
white flag of submission without further delay and the
member # Congress- who shall be afraid TO vote for it
must be deaf to the voice of patriotism, and blind to
the evidences OF public opinion which surround him.
NV purpose in this communication opresent cesr-
" ,he principles aud practical workings Of the fcheme
which propose / have pupOeey forsborne to enter
on discu4ion of details Should the general features
of the plan prove acceptable, the detas can be best
arranged by the immediate representatives. o. the peo
pe VINO are familiar with local interests and feelings.
In adjusting the exemptions from tho operation oil
the levy of IL per ceu is TO me that reasora
BILE mis-. mum should be fxed and those whose property
ia below that amount should not be pqiiied to con-
trihne The abonr Of the country Is sufficiently taxed