The Chattanooga Daily Rebel. [volume] (Chattanooga, Tenn.) 1862-1864, 1863-06-21
Resources Of the confederate states -On'
Ability 80 Pay oar Debts.


special Correspondence Of sne Rebel.
Having shown in former com mubieAsior what
win probably be our ebs renains 70 quire what
are our resources and means Of payment
The amount Of property in the cOHieFieraty has
been estimated near nve thousand millions Of dol
lara - .6dsO ooooo,. ~
Al the present high price Of properly tits prota-
bic that the present " Tue taxable property in the
consderale states Is not much les than seven thou
sand millions OF doiIaE > tss Oooobool.
The value OF an ordinary cotton crop whs two
hundred and iorty lions dollars 81 former pric
es at present prices would amount % less Than
four hundred millions Of dollars II is prpbAble mat
after the close OF this var. amount Of cotton
ed win be 50 great as formerly owing TO the iat
that 10 many negroes have been stolen By the enemy.
and the further fact that 50 mucn more 81 the labor
Of the country viii be employed in producing food
and tiozhing than was heretofore the case but n,s
ertheIess, the money value of the crop win not be
decreased because the scarcity Of the article viii en-
hance the price The corn crop Of the confederate
states in 1850 amounted two huhdreh and eighty
millions. six hundred and sixty -hye thoutand aud
fourseen bushels ESQ 6b5Ol4a The wheat crop in ts
same year announced 70 thirty one millions lree hun
dred and sixty-sa Thousand eight hundred and nine
~ four bushels. t3I,sse, soy.
These we've the main agricultural productions dur
ing At year In these estimates. the wheat and cs,rn
produced in Kentucky Missouri ana May land, are
moi included The value cf slaughtered animals in
isso, was ,ighrsspne millions four liahdred and
eighty Two thousand three hnudret anu Ie dollars
(ssi, ss,.soi)
have not included in tAese estlulates the WOOL.
rye, barley nay ibsiars-' ,-ouz OH akricultur-
al produets. ha' = atioiied the principal
produces though Il & he aggregate amount
70 considerable 81 the condition OF
things in 1850 bur 81 i..siy grows and increases
IN wealth, the anio ~ sbt win b. relatively
reduced. Ii tho &c two Thousand mil
lions, and the value perry shoald be only
six thousand milli.- - dahf would ~ one
third of the value y, put II the value OF
the properly shoulr -,si q % twelve thousand
millions then the o'.T 0e only one sixth OF
the value OF the pr al. o on. a. the property
increases IN value IL III I'D lin proportion be
diIninished- cdnisdelzbse portion of our debt will
bear SIX. seven and eight per interest but 50
soon as it is asdcrtained that the interest will be
promptly paid, and the principal made secure. then
our Government can borrow money = q much lover
rate OF interest and redeem tho bonds bearing the
higher rates OF interest The value OF bonds does
not depend much upon the nominal rate Of inter
est which they bear a. upon tnc confidence felt in
their ultimate redemptien, and the promptness with
which interest paid IN this way our debt will
be virtually reduced without any bad faith on our
part aHd win in the course Of time be all paid
Ahexport duty OF I'VE cents per pound on cotton
and also an export duty on tobacco. viii raise a
large sum OF money, and will rapidly reduce the
dets Now cotton twenty five cents pound is the
cheapest article that used fori clothing the
world No country except the Confederate states
tan grow cotton at twenty-five cents pb1Iid, and II
expork duty OF i've Gems is placed on cotton the
consumer viii have pay the I'VE cents duty and 1t
will not raise the price much % him - TO keep
him from purchasing An export duty might be 50
large ss 70 prevent the consumer from purchasing
the article with the duty added on but this we do
not think would be the case with duty OF five cents
on the pound for cotton What would be a proper
export duty tobacco 1 cannot SAY. but J SUPPOSE
ten cents pound would interfere with It's sale
AZ all In this way the consumers Of our exports
might be made 70 aid in the payment OF our debt
This we have clear and unquestionable right DO
and whether weexercise that right is matter for
onr|ovn decision. fi
There is one view OF this subject which ought, in
my opinion to be impressed the people and espe-
Chilly On tiltct VINO nave lftctl1tlAl1 20 Mdkt
property viii have TO Be heavily taxed - pay The
debt The holders Of the bonds viii have but little
II any ksk 70 pay, and win receive the money paid
10 others All the money aised By taxation viii be
paid TO the holders Of ,onds and thus il will be
rtrur1ed TO own citizens. and thereby the wealth
OF the counfry will he reduced This view shows
the importance Of men making Investments in Gov
eminent bonds. instead OF real ami personal prop
efty- All men have an opportunity OF masking in
Testments in bonds and if'lhey prefer making them
ih property rather thann bonds, they have no right
70 complain il those who manifest their confdence in
the Government, and show disposition % sustain
is credit by taking its bonds should enjoy adyant
azcs which they win not possess
j Il would Be- much better that these bonds should
he In the hands Of the people generally than for them
10 set into the hnds Of few capitalists because the
burdens of the debt would more equally dlstrio-
uteii There may be some who are diserediting Con-
fedtratc money with q view OF purchasing large
quantities Of ii a low rates io the purpose Of enrich
ing themselves such men are among the worst en-
emies OF the COUNTRY Tee are attempting 70 de-
stroy our credit and thereby infiicf deadly blow
upon cause ipr which g many have shed their
blood
Let the public generally aud particularly our sol
ders. never lose confidence our currency and le,
them invest all 1hey in Confederate Bonds and
they win thereby benefit themselves strengthen the
Of the Government th,rar the aims OF merriess
spectators and extortione7s. who are endeavoriag
by All the means in their pWer. 70 destroy our