Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-01-29
THE COMING CRssM AT TIE
a0aEEEa.

In commenting upon the grand failure of tho
financial scheme Of @r. CHASE, the ChAtia.
nooga RsBel remarks that soon we shall bear
tie rrosns OF a deeeis cd and bankrupt people,
sud then viii come for Us those glad tidings Of
great joy-peacs, and pesee, too, upon eur own
terms.
TIE rise in gold, as compared with green
backs, for The past few weeks, hss been rapid
and progressive, and it has row reached 8
figure higher than It has been before in the past
twelve months. Last spring the quotations
were for gold I27 On tho I8.h Of the present
month It was quoted ia New York at I5s. The
Inevitable and inexorsbls standard and test Of
value IS being applied TO the redundant paper
issues Of he Yankee. treasury, and before il
.Loss irsues arc wilhering, psIishiug.
It is not that gold is Increasing in value, bat
/ it is the paper issues that ars becoming each
day Of less value. And, If We are not mis-
taken in the signs and indications, The pro.
gTsss.vo decline Of green6scks must continue
to 20 on. Expedisnts have been exhausted IL
the vain attempt to uphold their commercial
value. Loans, taxation, bonding, funding, sRd
| all the devices Of those who have, sines thC
invention Of paper money, sought to make i
4 substitute for the precious metals, have beer
rescrted to, and yet we see that that ine1or
abe law which ssys thst the one is value while
the ether Is not, obssiaately asserts It's OWE
( truth, aid vindicstes itself
The fact shat gold is oRe thing, aad green.
backs are another, and an entirely different
thing, IL H0W becoming painfully apparent &c
that gresnback sluHsd people. They see that
the war, which has already been drawn ouI
through three long, weary years Of terrible
slaughter, and still more terrible expense, is moi
| approaching q conclusion, and that uRlesg thoil
/ Government rseedes from their declared policy
| It must 60 on for years to come. They ses TIA
the war has eessed, SO far as tho South is con
ceTned, to be struggle for right merely, bu
/ has been made by the Wicksdness Of their Gov
leTnmsnt ccuhict Hpon which lie, properly
social squsaly, and everything else that mer
hold dear and sacred, is depending And they
| Ase becoming conscious Of the fact which Mr
LEc0LN and his advisers appear to have over
looked, hat under these fesrfuls eircunstanc
tie South may be sanihilated but can nevei
gubmit.
No choice is presented. The Confederat,
States must ghs on to ths bitter end, beeGus,
there is no alternative which dees not involv,
Toe vide spread and iudiserimiusse destruction
Of every interest, and Of every right An,
these shrewd Yankees a1e conscious, too tha
q people Like ours, sc numerous and we'll quail
lied to make their own defense, cannot b
easily destroyed Their aRnihiation, evei
if it can be accomplished at all, must Recessl
rily be she work OF long years Of bloody cor
. hict involving a fabulous OuilEy Of money
and the consequences is, that knowing, {
hey do, that the war can only be prosecute
By the issue OF more greeD5aclEs, and the il
crease of tho national indebtedness, alread
moDBtrous, they are begianing to inquire ho
the grsenbscks, which looked SO pretty, al
Of which they were once so proud, are to be n
deemed, and the suspicion is aroused that gol
and silver are, perhaps, more reliable as pc
Hsnsas Investments, snd q good deal safer
lay away.
Hence. VIC see the Federal currency sinkiD
iE valno day By day, and the fact sought to /
concealed By quotations, which tell Us thi
gold IS increasing in value. Gold increases
valUo IN the same way that tie ground som
tines aies up and hits drunken man in Il
face. Sober people can see that it was the mt
, who fel and not the ground that 6ew up, tn
: brought the Two together So with gold and gree
backs. The gold does not advance, bat t
- grseEhacks are going down. ARd they "
continue 30 60 dswn, until the bsll winds
[, With money panic. Thea, perhaps amid t
national and individual ruiA aud desolati
Sc which surrounds them, thess people will be a.
to comprehend that the arm Of an sYengi
Cod has ever.sken them in their iniquity, g
thaS while they bSvs failed in their cruel ss
= wicked schemes against an unofending peoI
y thsy hsVs brought themselves and their G
ernmsnt 10 bankruptcy. and sacrificed The. BID
20 Of their people without having oven the p
equivalent Of grsffed malice and revenge.