The Nashville daily union. [volume] (Nashville, Tenn.) 1862-1866, 1864-01-02

T. u
convinced that slavery is dead; and they,
too, are becoming black AbOlitionists
tits no longer pleasant or pFodiable-to
6ghs for q defanet institulion-the do
ienders of Slavery are dissrmed By its
death Like wise men, many Of the
owners of slaves in this region are turn
ing them over 10 the GoSsrnment, rely
ixg on its good faith to reimburse than,
as itisnow done in Missouri. The dawn
appeared
-----a.---------
A HINT az Is puaIation.
Iron the Ri-hmOnd Examiner, December 19l
The people Of the Confederate States
are braeiBg themselves to meet che fnaa-
cial crisis so long predicted, aud now so
near At hand. The heroic common pla-
ces about the "last DOLLAR" which have
been current sincs the beginning of the
war, are 20 be translated into action, and,
while individuals may shrink from the
task, the bulk Of the nation is ready for
the question. Ee7sry thing must be sur
rendered, if need be, but not cur national
honor. NomRtter who has been to blame
for the present monetary ehsos--the
Government foreingn nations, individual
specuIators, exsortioners of every class
andeTery hue the promise 70 pas"
mast be redeemed at any cost.
We have sworn to our hurt, but we can
net and will not change. No matter who
is 10 profit By The resumption of 3 proper
basis for our business transactions-ne
matter who is to sufer--that basis must
be established once for ali, firmly and
bonorably. We may disregard the opin-
ion of the outside world as 10 the merits
II our cause. We may care nothing for
sentimental sympathy, with our Anglo
Saxon heroism, or sentimental aversion
70 our social System. But at one point
we do veil to be sensitive. Oar word
must be as good IS the word of any mer-
chant oa ,'Change--of any fnancier on
the Bourse. True, we are cut off from
the rest ofmankind--our debt is family
affsir-but if re were shut oat for ever
from foreign intercourse, we could not
afford to despise ourselves and one
another.
And We were fast drifting into this
self-contempt. The adjective "Confed-
crate" as applied to the various make
shifts rendered necessary by the war,
ia quite the reverse of complimentary.
Confederate coffee is roasted rye, Confed-
crate paper is only fit fog wrapping par
GELS; UOnfederats swords are as hsrm-
less as if they were made Of lead Con-
federats notes are treated, as If they
were no more valuable thai candle-
| lighters. We began with playful ban
ter; we were ending 10 genuine self-de-
probation. Ii is dangerous tendency,
aud if Confederate credit ever becomes
8 by-w0rd, our cause will be imperilsd,
our eseuteheon defied. We can fight
the Yankees with captured arms; we can
not carry on the war with cal tured
eTeenbacks. Repudiasion and subiuga-
tiOn are not synonymous; bat il we de-
sire to avoid TIE horrors Of guerrilla
warfare, terrible to the invader, but. at
best, . sad necessity for the invaded, we
must redeem the currency.
These patriotic motives are not the
sole motives for the universal demand of
q new system of taxation with view to
the establishment of healthier medium
Of circulation. A few wseks ago they
were not even the leading motives. The
uncertainty Of al business transactions
tae bewilderment ocessieaed by the ris-
lag tide Of the currency; the increasing
contest between the steady course Of the
age OF gold and the mad career of the
sge of paper, made almost every class
eiamorous for reform. Then, when il
became apparent that some reform would
be attempted, men began to consider
what reform meant, and marked sobri-
ETY. has taken the place Of IA almostjo-
Vi al despair. 1873
Add to this the recent disasters which
have bsfalen our arms, aud the evident
necessity of msking preparation for
struggle of infinite dara'ion, and il will
be readily understood why this is time
for high resolve, for wise counsel, for
speedy execution. Iadividuals NAV be
seurrying to and fro, endesvoring in
every way to save themselves sgainst ali
possible contingencies, bat there lie q
grand pause in the life of the people at
large, a grave suspense, We all know
whiGher we are grsvitsting, but who can
estimate the shock of landing from the
hot air of speculation on the cold, solid |
basis of Intrinsic value.
The voluntary system has been scout |
ed by the good sense Of the people. A |
flW weeks ago it had advocate but we |
live fsss in these days and Nationsl |
Loa's are IS obsolete IS the world before
the food The reduction of our currency
must be accomplished by force. Let |
tie various forcing systems which are |
fall into two eategories: /
funding, guaranteed by special taxation, |
and the levy of large direct coutribu-
tion-both of them decidedly disagree
able. But we can not expect TO go
through such a Carnival without Lent;
without touch Of Indigestion or a
lwinge of the gsnt, and neither jalap nor
sOlchicum can be considered pleasant to
take. ~
One great difficulty in the way of de-
which method of the two is
preferable, consists in the want of any
certain data IS to the amount of proper
~ in the South. If q contribution of
twelve and a-half per cent. of all values
and credits--and such contribution has
been proposed-would restore the health
Of our currency, an immediate appiea
ton of that remedy would be preferred
By large proportion Of the people, to
the broken doses prescribed in the vari-
ous funding schemes, which have follow
ID each other in rapid succession ever
since the famous Thousand Millions Loau
vas first projected by the wisdom, and
IN the interest, of tbs South Carolina
Convention of Bank Officers. But large
forced contribution would require an as
and how difficult that would
be at this period of unstable prices, ev-
srybody knows; and how slowly the
work would go on, the tArdY progress of
he present assessment shows too plainly.
Imperfect as that assortment Is, il
would be better to take it as > standard
ban to 90 back 10 the old census re-
iuFns, which have been used in days gone
~ to prove every imaginable absurdity.
Better, still, 70 take the reports Of the va
ious coil etoFs Of the revenue in the diff
erent States.
But these documents would not be