The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-02-03
Northern and southern Finance


Some weakened, and faint-hearted, an6
white-livered Confederates-or pretended Con
federates-will say, in reply to this, hat We
are fighting with a currency far more de
pressed than the Yankee currency is. or is
likely to he-and that if We ean help up the
war with a deprecated currencys the Yankees
can do likewise. So they can, if they choose
to do it. But they will not choose SO to do
Consider that our cases are altogether differ
ent. TIL, North is fighting for conquest and
empire. We are fighting in self defense and
for independence. We are in the same posi-
ton as the Colonies in the time of the keyo-
luton. Their currency was worth little or
nothing but they kept on fighting, and r.
nally succeeded in winning their indepen-
denee. Money has been inaptly called "the
sinews of war"-we can say inaptly, because
it is a mistake. The sinews of war are enough
food and railpent to sustain human life, and
and uneonduorable resolution to perish rather
than be conquered.
The value of Yankee money, on the other
hand, depends exclusively upon their ability
to cnnquerthe South-that is, in thier opinion,
it depends upon that. In our opinion, it de-
pend; upon nothing at all and has a basis of
redemption more unsubstantial that the "fab-
rio of a vision" Whether they succeed or
not, their money is equally worthless. The
last golden dollar that jingles in Mr., Chase,s
Treasury will be worth more in five years from
to day than the accumulated millions of "green-
backs" that he has uttered, all put together.
Our own people-wise in general politics, but
lamentably ignorapt in that,branch of politics
which relates to inance-are to blame Tor the
present depreciation of Confederate currency.
A singular spectacle is, indeed, presented
that we can negotiate a loan in Europe at
nearly par, while the North cannot negotiate
one at all.
Our bonds-worthless if We are whipped
sell for nearly their face, while Yankee bonds
arc a drug upon the foreign market, and not
even a bid is made for them. Yet, when we
look at home, Yankee money is worth nearly
its face in gold, while Confederate money is
at a ruinous discount. We repeat that It is
our own fault-not the fault of the North,
net the fault of Europe. We have been so
long the commercial and financial slaves and
vassals of The North, that all the manhood of
our own natures seems to be taken out OF rs,
and yet we are cringing, servile followers, In
all the questions of finance, of the dishonest
operators of Wall street. We must drive them
and their operations from our minds, even as
or Holy Saviour drove the money changers
from the Temple which they have defied and
desecratcd.
The South must assert itself financially, as
it bas asserted itself politically. The Govern
ment has cotton enough to make a heavy in
road upon the public debt. Add to this re-
source . System of taxation-absolute, direct
taxa.ion-that will reduce the volume of the
currency. Let Cur people cease to make mon
ey by preying upon the necessities of our sol
d:ers and their families, and resolve to sacri
fee all sooner than than this brutal and inhu-
man war upon us should succeed. " e have
a country, such as God Almighty, in his good
ness, has not vouchsafed to any. other on his
footstool. All that is needed is patience, en-
durauce, fortitude-an absolute yielding of
everything, as second only to the final triumph
of the cause. That triumph, sooner or later.
is one of those things written down in the
Book Of Fate, and neither northern enemies
nor southern traitors can preTail against it.