The Abingdon Virginian. [volume] (Abingdon [Va.]) 1849-1883, 1863-11-06

- NC uhc WIZ Wouiu hesitate 10 assume even
: double or treble burthen to the one propose
The increase of taxation would be trii
compared even with the advantage of seper
ton; but when viewed in the light of min
terlng to our success, computation is mad
quate to exhibit the magnitude of the adva
tage to us and to our posterity. This, no
ever, is looking at the loan as an entire 10
to the State, and brings me to the consider
ton OF means of the Confederate Guvernme
to meet the liability Incurred. What a
these means and how arc they to be develo
Cd Inc taxable property of the Confedera
States, at q low calculation, is four thousaL
million of dollars, and an ad yalorem tax
one per cent would raise forty million do
lars. The exports will reach at least thrs
hundred millions, and a tax upon the same {
ten per cent. ad valsrem will produce thirt
! millions more. All who have observed til
laws Of trade know that to be healthy the in
ports and exports of a country must CORE.
pond, and hence we may reasonably caleuiat
| upon an equal amount Of three hundred mi
hons to be returned for our exports-an eve
rage duty of fifteen per cent. ad valoren
would give US an additional sum of fu2sg-f iy
million dollars, which would make the ntela
! OF the Confederate States from all source
| one hundred and fifteen millions This woult
pay the interest upon debt Of one Thousand
mlliors-viz: sixty millions-leaye thirt,
millions ior the ordinary expenditure of the
Confederate Government, and balance u
twenty-five millions to be applied as sink
ing fund to pay off the debt of the nation.-
These figures indicate An ample amount to
liquidate a debt Of almost incomprchensible
magnitude, and meet all the annual recurring
Liabilities incident thereto The income is
predicated upon the return of peace, and the
establishment. Of our independence.
If Georgia should make the advance move.
ment in this scheme, and receive from her
sister States a cordial cc-operation, I calculate
there would be retired something like five
hundred millions of the Confederate currcna
cy, and the individual States would thereby
assume liability Of only two hundred and
hfty millions. The Confederate Government
would increase her interest paying debt only
that amount. and the two hundred and fifty
millions additional, as the will and ability
which our future prosperity would justify.
think these figures are within the bounds
OF reason, and fully sufficient for ali the wants
which experience, under the old Government.
legtlmately demonstrate Our expenditures
under the United States were greatly incrsas-
ed by the corruption which peryadad every
department, and the policy which was fasten-
ed upon us by the North in the extravaganza
which they deemed essential to create a large
revenue. Besides, the Post office Department.
which under the old Government had become
an annual tax upon the national treasury of
eight or ten millions, under our system is self
sustaining. The coast survey, which had be-
come department in expenditure; fish boun-
ties; the expenditure incident to that great
corruption element, the public lands; and di-
vers other minor drains upon the public trea-
sury, no longer infest our new government
Hence, conclude, thirty millions for the or
binary expenses of CUR government amply
sufficient to meet our waats and place us up
on firm basis of prosperity and usefulness
Some may suppose that large standing ar
my will be necessary and consequently much
arger sum will he required than have al
oweS; but consider that our citizen soldiers
aave demonstrated that time is not required
20 make an army necessary fer the country's
isfence. Besides, oar neishkors will not be
n condition themselves to support a large
standing array, which alone would make i
Incumbent on us to keep up the same.
think, therefore, that have abundantly
hown that the security which the Confede-
ate government can give, in her AMPLE re-
sources. will make it apparent to every one
hat the State will run no risk in assuming
he liability propose. Nor will our people
'e burthened with any additional taxation to |
meet the same If by this plan, we can re.
ire from the present overgrown circulation !
T the country five hundred millions, we pro.
,ress In the further continuance Of the war
most with clean sheet, and our future ope-
atoms will be guided by wisdom learned
n the school Of ex perience. Should we reach
n the future similar point of depression,
arther recurrence to State credit will relieve
-f0r no one can suppose that the liability in
urred by the individual States, of two hun
red and fifty millions, with their ample
:eans ana vast resources, approaches in any
istance near the point Of straining their
redit Or impairing confidence in their ability.
Thus far have kept in view only the i'm.
ortance to our currency, and the credit af-
'rded the Confederate Government. The
ollateral advantage to the whole country in
Is internal commerce will be Unreasonable.
Investments which are now made in all sne.
les of property at almost fabulous prices will
ousC, nhu auCy Will! uc ftuTueu If1GO THIS new
hannel, thereby paralizing the eagerness of
population and imparting healthy moral
me to all financial operations. The bread
{ the widow and the orphan will be out of
le market, and the home and the servants of
i will be beyond the reach Of temptation.-
re the people ready fer the work l think
ley are. They have offered their children
pom the altar Of their country, and they are
ady to cast their property into the scale
hich is to decide their country's destiny.
Two long years of suffering and sorrow that
remembered at every home circle and
earth-stone, justifes me in drawing largely
pom their patriotism and their virtue. The
acant seats around their family affairs, which
] implacable and relentless enemy have Gre
ed, warrants the belief that no other sacri-
;e is too severe to avenge their blood, which
les to the ground, "scorn to be slaves" No
'ople in the worlds history have thus far re-
rded a brighter page. They have exhibited