The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-04-20

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..aa VANTEp.--rae AieNest laArxcs Price
IA - = a n THU OFpiU1 for oil kinds 81 oLkAs
sssTrOjS xNp LaNtN RAGS, - iargs OF Smsa
1872 =--=-==--.==.=.===.===
celia ana FEDERAL Credit
The late intelligence from the North
shows that gold has begun the mad dance
thai indicates pauic-strlcken public on the
subject Of the finances. The credit Of the
Government, Federal, 10 getting unsteady,
and men who have amaesed capital out OF
war eoutxacts and otherwise, are inclined I"
put Il In the safest and solidest security
Rold; and the next thing after that. is to
tanster the gold TO the safest place F.: VIZ
England. Mr. Chase has had Cisco selling
xoad cesti1cates, to check the advance %
gold. He cold 1t 100 for l64 when s"'a reaa''
Is brought l6o Ia greenbreks. The ce,''"-
cstes were receivable 10 custom mouse N".e'
bat that did not make them as COCA a. So'"'
Ordinarily In peace times. the eerunea'e
wouh have been better than gold; but NOT
90 nov, People are not SO sure 'hat .oe
Government might not put Oh these ceftin-
cates. and they do not answer the purpose
of immediate and safe hiding away till after
the v>r. or 70 be used In speculation abroad
Nay, more than and above ell this, they arc
but the promises Of q Government whose
national debt Is already beyond its ability
ever to pay, and therefore do not command
public confidence
The depreciation of Federal credit is al
ready great and II must continue to grow
VERSE Lincoln's Government may attemp;
to Illustrate the story told by gold. For a
time they may affect its oracles so that it may
by its variations palter in double sense
But It will continue to point the alarming
downward index, showing the way of rap
idly depreciating and really an irredeemable
paper currency. The very latest news, il.
deed, exhibits some efforts at Improvement
gold goes down little. Yet it will not be
kept down. 1t win rise again and drive the
Government to new and fruitless expedien.s
to check its startling Developments. We
shall not be surprised to see the Yankees re
sorting to many Of the exploded measures
for forcing people into belief in its credit,
for compelling confidence to fill her pockets
with its promises to pay in preference to gold.
But the result will be the same that it always
has been.
It is very probable that Mr.. Chase has a
presentiment of the course his gold would
take If he sent any more to Wall street, as he
resorted to the gold certificates instead. He
no doubt foresaw that all the gold he might
cell would likely be placed on special depo-
alt in some foreign bank within thirty days. !
Nothing can enable the Yankee Govern I;
ment to pay its enormous debt. Ii the
South were even subjugated it would be un-
able to do SO out OF all the property it might
seize 10 the Southern States. ANY one who
viii reflect upon the subject can see how ut.
tcrly fa!lacious must be all hopes of realiz
ing any considerable sum from the property
Of the South amidst the rain-the hopeless
desolation-that must prevail in the event
Of her subjugation by this war. The very |
officials who were charged with the duty of |
converting this property into money would ,
combine with the hordee which would spread !
over the Land to rob and dvffand the Gov |
eminent. Its revenues from this source .
would dissolve into nothing. The nachi- !
merry for the Governme nt md the spoiiation |
and eon6scation of the South would |
6 weep ell the income that it could exio,t !
from an irretrlevably ruined land, and the !
Northern States would be compelled to bear |
the terrible burthen Of deb: which the war /!
will have left them. They would never pay |
1t. They, too, would rebel, and there wou.d /
be another war to desolate the North az we'll
ss the South, and in which the cup Of re.ri-
button would be drained to the dregs by the
neartlese people now waging war against
these States.
bul the South will never be suhjugated.-
The war must continue to be o futile one, It
may continue some time yet. But the South
N ust triumph. As time passes away The
Northern hopes of making Us pay their
dsot must diminish, while the debt Itself
Feis In geometrical progression Ike ball
Vi snow. The effect of this sort of sliding
'cae upon the Yankee mind is already per-
cepuoie' and must 60 steadily on, as few
months VIII show. The gold thermometer
WIZ exhibit 1t, Notwithstanding the efforts
10 influence it to speak falsely. These CT
os's are only partially successful at present.
AtteF time, however, there will be d break
og away from the power of the Govern
neot, Just a. when dam falls and there il
70 power to stop the water it enclosed, and
Wiu % given up to take its course.
Ihe debt Of the South Is large, but small
with that Of the North, while the
csources Of the South are inferior to those
Il no nation on the globe. II the ~ar is not
prolonged to . period greater than most
people anticipate, the South will be able
ully to redeem her credit before the world.
The North never can, in no possible event. !
yae or two victories In pitched battles
s;ained BY the aoutr will elicit pretty clear
IMPRESSION "A Of the opinion of the North
= snu subject. Mr.. Chase will by that
time very likely have stood out of the way, /
and allowed the stone he has endeavored so
earnestly to roll to the top of the mountain
10 take It, way, crashing all before it to the
very bottom.
Csltivatiea or the Sell
The Journals Of the country can do no
i,etter service to the Confederate cause than
20 keep before the people the vital import
anes Of this subject. Every energy of the
osopls should be devoted to production
AZ 4