Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1864-04-11
pUBLIsHRD (DAILY) By
EDGAR SNOW DEN, ia.
cas~ ~OFFICE-Nu 1O4 King street, over
9 mss. formerly French's) Book Store.
credit Of the Confe6eracy IN Europe.

Credit Of the ConGeaeracy in Europe.
p.,o ~ Washington Correspondence Of New York World
There is 30 difficulty III ootaltllng any guam
ty Of goods on Southern account III any OF the
commercial cities OF either Eug|ani or france.
n snite Of ali that has been said TO the con
1rar;'. the credit Of the Confeaeracy Is good IN
boi,5 of thos>c countries; and goods tan De p1r-
chase1 As r,,,,,,,' ' for uoEaderate bonds as Tor
gold, This is owing pars,, 70 u 'S':s !oas
large cargoes of cotton are frequently Eeoelveo
~ ljyerpool but chiefly to the convection
that's universally entertained among the pest,
informed commercial men IN both England and
France, TO the effect that the large amount Of
cotton known to be il the hands CT the Confed'
crate government will all be available to secure
these bonds and to pay OFT the European
loans. II will be remembered that these
bonds are not delivered or placed IN the mar-
ket until certain amount OF the cotton. on
which they are based, has actually arrived at
Liverpool; and this fact gives them a certain
degree Of stability. The amount OF cotton
actually known to be in the possession OF the
t'onfeiarate government in February last was
more than halt million Of bales. At the
nreseot nriees Of cotton, one third Of this
amount is sufficient to pay off and take up all
the Confederate bonds now Ia the European
money markets. This facts shows, III part:
upon what the credit Of the Confederate gov
ernment in Europe is based.
What do the rebels do for money, IN the ab-
sence of circulating medium OF any value
is a puzzling question TO rs here at the North,
ali the more SO when we read OF people III the
South paying s75 for a barrel OF Hour, S3o. tor
8 pair Of boots and other prices IN proportion.
But the difficulty is more imaginary than real
1t is true that the rebel paper currency IS
deprecated to that extent that it IS nearly
worthless. But is also true that the rebel
currency is not much used as a circulating
medium when it can be avoided. The farmer
or planter who wishes to buy dry goods or
groceries has something which the dealer IN
those articles values far more than rebel cur
gency He has cotton, raw sugar, rice, wheat,
corn, potatoes CATTLE hogs, horses, sheep;
cheese butter, and milk Dry goods and
groceries command enormous prces, out 50
also does every one Of the commodities that |
named. In order TO promote mutual conye-,
nence, therefore, a we'll regulated system OF
barter Or exchange has been estaoilshed all
ever the South; and the rebel government,
although they are annoyed at seeing. tnelf
paper money stunned whenever practicaoie'
have had good sense enough not only Go per
nit the prantce. but even 20 encourage It. ana
they are now reaping the good effects OF that
policy. Thus it is that TIE people, supply
rheir necessities; the dealers in blockade goods
are encouraged to purchase largely OF foreign
goods the planters and farmers are encour-
aged to bring in their cotton, to cultivate gram,
70 raise horses and cattle, and to make butter
snd cheese and thus il is that the credit Of
che South is established in Europe
Thomas j. N1ehatfey, has recently purchas.
eS fho ho,eo o,,d lot IN fha So5}th vest corner