Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-04-16

prsctc.l indication of erarcal embarrass rent which
that government has displayed. Is s In fact. "the be-
ginning Of the end" aud it oily needs now the nu.
once Of serious disaster 20 iss to prscpate the
6narei.l crash SO long foreshadOwed.
The New York Times and World frankly admit that
such contingency necessarily involve cessation
of the war The authority given By Congress Secre.
airy Chhss TO sell the gold in the treasury is an
Indication Of the desp, straits to which the govern.
ment is brought This resort may avail to save off the
impending catastrophe far brief period; but the spe-
Gle basis exhausted government credit will rapidly
snk to the point Of bankruptcy and then oomeh the
end" The specis which ia to be throsn into the
ket viii be absorbed without delay, aad the conscious
ness that no hing substantial lies beh nd give stability
70 Chases shinplasters" will undoubtedly abaLe public
confidence in thess called representatives. OF Value
They will then circulate mere promises to pay, with
out basis to give them stability, and Auctuate with
every ebb and flow Of the tide of war until finally they
reach standard too low to represent any recognized
value.
The sale OF spesie authorized by Congress, is des
perate resort. It is nothing less than removing the
foundation from supsrstructure, whose very msgni'
tude would rather sdmonh th increase than dninuon
of the sustaining power. The distribution of this specie
will serve but meager purpose in ohsetting nearly
three thousand millions of paper money. The disparity
WI be more observed by the ut failure Of the device
% restore anything lie equpose. Aud whom 1t viii
be observed that at the end of three years war; with
large mportaions in the interval OF articles necessary
for lie conduct gold enough has not been accumulated
to pay the interest the public debt, the most cond.
dert will cease to hops for 1.-THE of this result in the
future when tbs South is to enter the commercial
arena as competitor aud not purchaser of Yankee
mportatiOns. England always carried out iu good
faith her pledge to pay the interest of her debt in
specie and for that reason her credit remained unim
paired even Will engaged in colossal struggle which
threatened her very existence a nation. The Yankee
Government. cOapses at the end of three years war,
With power which rs 900 men deemed sufficient
to crush in 90 days, aad now they present "shn-
plas:ers" in payment of interest," ia leu Of II which
~ss the medium s!ipala ed for by their creditors.
The inference from all this is. an imminent financial
crash, which serious reverse to Northern
viii Inevitably bling abOu. Nothing 50 strongly
tend abas public confidence in the financial stability
of government failure to meet the interest on
lis deb. in the stipU TEL Investments cease
to be of value when capita fails to yield s legitimate
product So long a capitals. reaz fair interest
upon his investment, he Is content, even though the
principal is beyond recovery fair interest is, at
BEST ali ne could htps to reaiE,, no matter how he
may invest. WAeth1r the investment be in land
houses government any other stocks he is satt6ed
If the interest Is pulc ua!y pad. The >ss of this in
wolves the loss Of all foe his capital though of doubt
full ultimate availability, yields nothog 10 the interval
between investment aud the maturity Of his bonds or
stocks Ii the interest is not paid there will nesessa
rly remain little hope OF realizing the principal.
This breach of fai.h the part of the Yankee gov
eminent is the fest foreshadoEnS OF reputation yet
given forth W, shalt s,on hear o. fabulous advances
the prices of al cripions Of property, under the
Influence Of universal desire to get rid Of government
securities. A sudden con traction, such Al
eneoun'ering, would produco there amount of dis
rts5 without para lei in history TIE redundancy must
be kept up, and all permitted to enjoy the luxury Of
possessing few "greenbicks," in ord r to maintain
the popular deuson of Flush times" Whatif the prices
Of the neceslres of life AdVanC, hundred per cent?
The redundancy will b. vastly in excess CT this
standard of enhAnc render 1t unworthy Of
notice Considering the immense yield of breadSuff'
which the Northwest pOurs annually into the great cities
Of the Est 1t cannot be supposed that the advance in
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imminent will produce such disturbance of the relations