Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-06-17
The Adjournment OF the Rebel Con.
Eresa-Th0 Financial DImculGIos
UnSolVed.


The AdJoIEnmsnt OF the Rebel Con.
EreSa-ThO Financial DImcultics
UnSOlVed.
t. Prom the N. Y. Times.
Notwithstanding the remunstrauces Of
the Richmond papers, the Rebel Congress
has adjour ned, after q brief session, with
out serious attempt to relieve the inan-
ctal embarrassments of the JEFF. Davis
government. Secretary Memmiuger has
made public statement that he has not
dollar in the treasury wherswith to pay
the soldiers. Nor are there any means OF
meeting the other current expenditures.
The enormous taxes which have been lev.
led have been only partially paid; aud
these payments. having been made In the
almost worthless currency, are Of little
avail. Certificates ofindebtedness are not
practicable resort; based on nothing bat
an airy promise, they command no conf
dence. The sale Of bonds, for the same
reason, makea no progress, except as they
are haWked o. public auction We pub.
lish in another column an official adver-
tisement for the sale at auctien Of Eve mil
ltons Of ak per cent. bonds, of late Issue,
"secured By pledge of import aud future
export dutiss,r with other peculiar induce
ments. Among these inducements is the
generous Offer %. take payment in treas.
ury notes ot'th0 old issues, Of the denom-
instton below one hundred dollars, rated
at ttoO' Lairds tie amount pTomised on Me face.
1t seems to b assumed that government
which is willing 70 sell its promissory pa
per for other. promises Of its own, with
the deduction Of only q third, is a govern
ment that ought 70 inspire great deal of
gratitude and confidence. Yet Americans,
whether loyal or rebel, will cling to their
| n IH.F knk 10 L.
ness.like 70 trust men who don't pretend
70 honor their engagements in full meas-
ure. If Memminger's Eve millions were
actually sold at public auction on the 10th
Of May, as advertised, they must have gone
dog cheap. II a, not singular that direct
ly afterward should come the announce.
ment that the treasury is without q dollar.
The Richmbnd papers intimate that the
Congress adjourned because the noise ol
Grants cannon was not agreeable to their
nerves. Doubtless this little fact had a
certain inhuepee.t 1t would be natural for
apack OF ofproscrlbed traitors, in such cir.
cumstaneea, 70 feel like puttiug distance
between them and danger. But there was
something bssides Grants cannon "a
frighteu. The Impulse must have been
quite as strong TO run away from the Job
of finding money for. the Confederate
Treasury. Il was q task beyond morta
art; and when 1t was absolutely forced
upon them, isiS no wonder that they in,
continently took TO their heels-the 1sua
resort of men when at their Wits end.
What could the Congress do Z They
conId not meet the demands of the treasury
by increasing taxation, inasmueh as taxa
tion would yield nothing but an additions
supply Of YutAlsPs paper. They have al
ready made the attempt to establish neH
currency which should have some vaIae
but it hes failed. In the very nature of tn,
case, 1t could not result otherwise. Pape
money has snoyAlue but in the trust-Worth,
promise 70 redeem it. The new issue O
Confederate money carried with It a Vir
tual fepudikton Of the old isaue: and
thereby its yety appearance was q public
attestation ihat the Confederate Govern.
nent did nosFedeem its promises. Instead
ofgiying z better currency. as was intended
il still more weakened the credit of th
, concern. The new issue is ss worthless a
the old and the bonds and certificates o