Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-02-04
The Crisis OF the COnrederaoy
From the Richmond Examiner, Jan. 2s.


With the spring will come the last great
struggle of Lincoln to overthrow the con-
'federacy. His term of Office draws to a
close, and the gathering. elements of oppo-
sition warn him that be, at least, may not
have much time left in which to finish the
''big job" he so recklessly undertook
Should the approaching campaign give
him no material advantage, aud should the
present confederate line of defence be
maintained it's integrity, he will bequeath
to his successor IA legacy OF embarrassment
and difficulty. Should another President
resolve to persevere iu the Insane attempt
at conquest, hewitl find that all the i'm
tnense effOFts that have been made in the
last three years have not penetrated to the
core of the difficulty, while they have ma.
terialIy diminished and crippled the offeu-
siVe resources of the North.
So fearful an accumulation of debt in SO
short time is unprecedented in the his
tory of natiOns. Nor does it promise to
diminish in yigor OF growth in the future
The monstrous plant has struck its roots
far and wide into q congenial soil, and ex-
pands With rapidity which threaten soon
to spread its black shadow over the eutire
land, chilling and dwarting the growth of
industry. and dampipg the spirit of enter
prise. Financial expedientss have limit
beyond which they cannot go. Cunning
artiice may for a time delude the people
and throw deceitful veil over the in
terror rottenness; but there is an Inevitable
fate before it which silently approaches,
and which atlast, like the fend in the fable
will bear no further delay, and suatches
I its victim of to perdition. Without
a substantial basis to rest upon, an i'm
mense system of national debt is sure to
terminate in ruin. Every interest and
every individual in the State is drawn into
the whirlpool, and every pillar OF the
social ediice buried in the universal
cataclysm. Precisely such is the condi-
ton of the people of the United States
The arts of banking. and the monetary fa-
cilities of q commercial uatiou have, so
far, smoOthsd their path and enabled
them to make extraordinary exertions.-
But it is evident this course of expedients
cannot continue Indefinitely. Confidence
in success has sustained their cause so
! far, aud in the expectation of cOnq1eriUR
the South they have found an imaginary
basis for their national debt. With the
| postpOnement of this desired consumma-
tton their bolstered credit must siuk. II
they utterly fail, complete bankruptcy
impeuds over them. Should they succeed
after so long struggle, they will End that
they have expended more than til fee
simple.of a prosperous sdoantry in order to
reduce into a sterile unity. y region de-
Vastated by war and deprived of ali re-
| cuPeratiVe power.
. The army With " hich the work of con-
quest is 70 be carried ON is another terrible
obstacle, which has to be faced by Lincoln
Fahd his successo6 This, too. is. CLOSELY
! commented with the financial difficulty. oiIn
y country where sWeepiug conscFiptiou
has 1een, shown to be imDractica6ie, a
large army, to be kept up by voluntary
enlistment, teA 6it6sStha most lavish system
\ OF honntiesl The sums which the Yankees
COW pay to secGreiA a veteran soldier are
almost Incredible. They approximate what
in ordinary times would purchase an able.
bodied slave in the South. No great fore.
sight is, required to see the inevitable ter
minatiousoT such reckless extravaganza as
this. Soldiers are evidently not abundsut
when such sums have to be paid for them,
] and the payment of such sums renders
\ soldiers hCarcer, because no one will enlist
unless he receives like enormous bribe!
Thus the elements OF military aud financial
weakness are intimately Couuected, and
4 mutually stimulating'to each other.
I All these considerations lead to the con-
clusions that 1864 will be the lasI Struggle
4 of the war in it's present idimeHsions. If
Eptotracted still it will tend 70 contract. to
wear out, ltO' sttRmeF down ,L6ntil gradual
acquiescence gives place to peace. Tue
coming campaign looks liEe,a seoueI to
that bflS62. Theu the army,uf the North,
for the first time fully equipped and or.
ganized, came onto crush the South like
ausvalauche. FOiled in that, they have
stnee carried on q system of STEADY and
sIUell concerted aggression, by which they