Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-02-03

at suitable places for the receipt Of cotton ndtobaeco
1t should then be Inspected and receipts given to the
owners with certificate ofindebtednes to them on the
part of the Government for the price Of the cotonsay
l2f cents per pound-pAyAbe in sixty days This GER
tiAcate would be negotiable and equivalent to cash.
minus the discount for sixty days. The Government
should then lay an export duty of or 10 cents per
pound on the cotton, and sell 1t for the best price that
could be had in the foreign market When the returns
were received the Government after deductng the l2i
cents the amount ofthe deposite certificate, and the
duty and other charges should pay the residue to the
owner
In this way competition would be ehectualy avoided.
No man would be obliged TO force his cotton into mar
ket At sacriHce-an adequate and uniform price would
be secured-specuation would be discouraged and the
interests of the Government and the planter would be
concurrent instead Of antagonsc. Moreover the Gov
eminent, dealing on so large SCALE could ship and
market the cotton on better terms than individuals
Another incidental advantage would be, 30 build up
large cotton manufacturing interest in the Confederate
States The home manufacturer would have an advan-
tage over his foreign competitor equal to the amount
of the export duty In other words he would get his
cotton at twelve and half cents, while the foreigner
would have to pay probably twenty-five thirty. The
effect would be to break up every Yankee factory in
five years. and the probability is, that we would enjoy
the profits of the manufacture Of the coarse cotton co
thing of theFOrld.
After celebrating a system of this kind, Congress
should pledge the export duty the cotton for the re-
dsmption Of me war debt The revenue from THIS
source would be enormous. II would soonlquidate
debt and furnish the means not only Of terrifying
our harbors aud coasts but of building splendid steam
navy, which could be used, in time Of peace in the
transportation Of cotton and tobacco, and in time of
war, for aggression or defence.
The pledge Of such a source Of revenue would in
spire new vitality into our financial system, and
bonds would be sought after greediy not only home,
but abroad wherever capital was seeking safe and re-
munerative investment. l hazard little in saying
that bonds, thus secured, would fad ready
ket in London, Paris and New York.
Instead of continuing to food the country with issues
of rredeemable Treasury notes. materially affecting the
relations of debtor aud creditor and disturbing the scale
of prices these bonds could be readily sold, and fun
nish the means of carrying on the war.
If il be objected how the Government market
the cotton during the war! can only reply, that it
can market it quite WELL as it market what it is
nov buying It sell it to France or England, and
they will see to its expectation.
By retiring all the Treasury notes issued prior to LIST
December and limiting future emissions to $50 or 200
millions, provisions and all other supplies will be
brought down to their former prices and the expenses
of the war will be reduced more than fifty per cent.
The salaries of our gallant officers and soldiers will be
substantially doubled because the purchasing power Of
every dollar paid to them will be doubled.
And when peace shall be restored what glorious
career of prosperity aud wealth would be opened tos
The balance of trade would continually be in favor OF
this country, and streams of gold would flow into
Golfers
Assuming the export duty at 10 cents, and the num-
Der of bales ofcOtoh of 900 lbs each, at three mil,
lions, IA lew ssthhAte) the revenue would be hun
dred and fftylhons Of dollars, nne.tenths OF which
would be paid by the foreign consumer.
similar arrangement could be made in regard to
tobacco, ~it corresponding bene6ts==It would prOba-
bly, yield from twenty to thirty millions more. In less
than ten years. the whole debt could be paid with
out depressing people, and then the duty could be
modified, according to circumstances.
In regard to the ordinary current expenses Of the
Government it would be WE'LL at all times, to have
portion of them raised by direct tax. Nothing has
more sautary effect in depressing eStrayagance than to
let the people feel that their representatives have their
hands in their pockets and to put them the watch
ascertain how much they take out and for what pur
poses.
Such relation between representative and constitu
emit will tend greatly to promote vigilance the part of
the people, aud fidelity the part of the representa-
tive