Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1863-11-25
The Confederate Finances.

Every cltlzen is deepiy Impressed Win
the necessity of improving and sustaining
our finances. As the means of affecting
this, a hundred schemes are proposed. We
have published many of them from time to
time, with the view of throwing all possible
light on the subject. We publish another
to-day, which we copy from the Charlotte
Democrat, where it appears over the sigma
ture of "Catawba." .....
Of the various propositions which have
been made, we think all that rest upon vol:
untary funding, as means of restoring our
finances, are travelling long way behind
the times. There is but one plan of this
sort that we. should consider worth the try
ing; and that would be to invite the peo-
pie throughout the Confederacy to meet at
their respective precinctsOr places Of voting
on given day, and make their loans to the
Government, every man according to his
ability, whether the amount be large or
small. Let the popular leaders and the
newspapers prepare the people in advance,
by appropriate representations and appeals,
and beget SO earnest and general an interest
in the subject that it would be social dis
grace to any one to withhold his contribu-
ton. Many mickle makes muckle. The
united contributions of our whole commu-
nifty would cause of treasury to overflow
Louis Napoleon made such an appeal, in
such way, to his people, and they respon-
ded magni6cent!y. Our Government has
been less demonstrative. The citizens have
been appealed to by various laws, and by
advertisements in the newspapers, and they
have funded to large amount. We are
not so impossible as the French, and do not
borrow our feelings from each other to so
large an extent; but we think it probable
that similar effort to that of Napoleon
would have added to the results which we
now witness and, perhaps, even now would
accomplish much. A warm statement from
the President, setting forth our necessities,
and imploring the uuited liberality of the
people, could not fail of effect .
The other expedients for securing volun-
tary funding, consists mainly in the Offering
of extraordinary inducements to men of cap
i.al to advance their means to the Govern
ment- Their bonds are to be forever ex-
empt from taxation. The resources of the
country are to be pledged to their repay.
ment. This heavy burden, grievous to be
borne, is to be securely bound upon the
backs of the people, but the capitalists them
selves are not to touch it so much as with
their little fingers.
We cannot afford to be shaved SO heavily.
Nor would it be wise to place the people
under such temptation and provocation to
repudiate. We cannot afford to offer great
er inducements for funding than have al
ready been offered. The privilege-of fluid
ing in eight per cents was long offered, but
without the anticipated or necessary re-
sponse. Many persuasives, and some pro-
visions of even semi-compulsory character,
have been held oct until we are almost per.
picked with the various kinds of Confede-
rate securities and notes; but in spite of all
the funding has been insufficient, and our
currency has, in consequence, become sadly
bloated,
The season of voluntary funding has so
far passed away, that it is a mere waste of
time to rely upon it any longer. Govern
ment has surely as much rightto employ the
means of the citizens in the public defence
as it has to expose their lives; for the life
is more than meat, and body than. raj
ment Call that man has will be given
for his life." If, when the supply of SOL
diers could no longer be obtained by volun-
teering, it was necessary and allowable to
make generol draft; so also, when the
needed amount of supplies cannot otherwise
be procured, they too, must be conscribed,
if we may use the word in such sense. A
general levy must, in some form, be made
on the revenues of the country.
Among the various schemes of compul-
sion which have not appeared, we confess
that we are most struck with that proposed
by "Catawba." Perhaps he may not thauk
ps for speaking of it as compulsory; but
such, in fact, it is, though perhaps in its
least offensive form. Without this practi-
cally compulsory feature, we should deem
it worthless.
.'Catawba proposes authority to the Sec
retary of the Treasury to issue thousand
millions of six per cent. coupon bonds; and
simultaneously to lay a tax of one hundred
and twenty millions, one hhlf payable ir
currency, and the other half in specie Of
coupons of the thousand millions loan. Il
is plain to see that demand for sixty mil
lions of these coupons would be thus ere
ated within year, as no one would think O.
paying in specie. Every tax payer would
be Immediately interested in obtaining some
of the bonds for the sake of the coupons
May we not say he would be compelled tt
obtain them, under a heavy penalty?
This proposition is very simple; but it il
all the better for that, for certainly it SEEM
very efficient We shall betray no conf
dence, we hope, if we add that it has re
ceived the sanction of eminent fnanciers
and will probably be prominently consid
cred at the Financial Convention which i
to meet at Augusta on the 10th of thi
month. A grand advantage which it pre-
sents is the diffusion of the Government sc
curities among the people, which it will ne
cessitate. This will be the best possibl
guarantee of the honest payments of tn
public debt, and by equal taxation.