Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1864-06-23
RUTLAND HERALD.
FRIDAY, JUNE II, 1884.
Rebel Finances.

The Richmond Sentinel, before the ad-
iournment OF the rebel congress, made
the following exhibit of the condition OF
the confederate finances
1t has been represented in congress by
81 the secretary of the treasury that the
taxes levied for the current year by The
u existing tax law will afford no ala In
4 having the current expenditure or the
government. They will go mainly TO
the reduction of the circulation, and If
that Is TO be kept at low and healthful
maximum, other means OF supporting
the government must be provided. The
sale of bonds, the issue OF certificates OF
Indebtedness, and more taxes, are the
the only resources. The sale of bonds
has been thus far prevented by the con-
dition of the country. To rely upon
such sale to any great extent, Is at best
to throw the government at the feet OF
the capitalists and place its credit at
their mercy. The use of certificates OF
indebtedness has not been provided for
by any adequate measures. The taxes
have not been raised, as was wisely re-
commended by the secretary of the treas
ury. In truth, we feel very apprehen-
sive of the result, If congress shall fail
to maintain the present revenues, and to
add to them by increasing, according to
an equitable standard, the taxes on those
classes which are favored by the present
law. We shall be compelled either to
take the property and services of the
people without compensation, or to ruin
our circulation again by excessive issues,
or to sell our bonds to the eXtortioners
for song, and bury our government I'M
der a mountain of debt and in hopeless
bankruptcy. viii congress, from any
anxiety to adjourn, or any timidity as
to taxation, abandon us to such
fate7
The Sentinel's object was to enforce
upon the Richmond Congress the vital
necessity of some provision of relief to
the rebel treasury, before adjourning.
1t, with other Richmond papers, even
tainted the members with a cowardly
Impotence to get out of the sound OF
Grants artillery. But the members
pocketed the taunt and have scattered
without attempting any succor to the
rebel secretary of treasury. However
much Grants cannon may have had to
do with this, it is probable that the
hopelessness of the task sought to be
imposed upon the rebel congressmer
had much more influence in bringing
about their incontinent skedaddle
The rebel papers confess that the treas
ury is empty. The above extract reveals
plainly enough the virtual and ir
remedable bankruptcy of the JEFF Davi
concern. 1t is useless to tax, becaus
the taxes either will not be paid at al
or will be paid in the confederate cur
rency, which amounts to no payment
The sale of bonds "has been prevented b.
the condition of the country" In
use of certificates of Indebtedness ha
not been provided for by any adequat
measures" and if it had been, would b
of no more avail than the issue of NOR
currency, based on nothing. The repu
diation of portion of the old currenc
by compulsory exchange OF 1t for new
at the rate of two dollars of the new fo
three of the old, has had no effect in tn
way of improvement, as the repudiatio
destroyed all lingering confidence in tb
article, and the new currency was to
evidently not a whit better than tn
old. The confederacy has neither r.
sources nor credit, and the rebel col
gress Is certainly excusable under sue
circumstances for letting Mr.. Meminge
severely alone in the management OF h
empty Golfers.
How then is the war to be carried o
by the rebel crew. The above extrat
indicates it by taking the propert
and services of the people withou
compensation" And how long do the
hope to maintain it in this way? Unit
the success, they pray for, of a peace
and-surrender democrat in the comm
presidential election North, when the
will be allowed to depart in peace an
effect the destruction of the Union. An
while they are thus taking the prope
ty and services of the people witho'
compensation, the peace and-surrend
democracy will continue as blatant
ever, upon the subject of the terrib
tyranny and despotism prevailing
the North