, 1864-01-01
4 GLIMPSE AT TDr <.,x-
FEH)EERA,TE~E Ess MGnG E<tAs'

From the Richmond Esnmincr, Dec. 10.l :.
The people Of the Confederate States are
brncing themselves to meet tho financial
crisis SO long predicted and now SO near ut
h1nd. The herqic commop-rlaces about the
,|:sst ccltar." Which have been current sinca
,rc urgin1lng Of the var, are to uc translated
into action, md while individuals may shrink
from tho test, the bulk Of tho nation is ready
for the Question, Everything must be suF,
honor. No matter who has boen to b1ame for
the present monetary chaos-the Govern
ment, foreign nations, individual pcc1lators.
extoruoncrs Of every class and OF every hue
the promise to pay" must be redeemed
at any cost. We have sworn to our hurt. but
We cannot and Will not change. No m1ttcr
who Is to profit By tho resumption of
proper basis for our business transactions,
no matter who is to su1er-that b4sls must
be established once for oil, firmly and honor
ably. We may disregard tho opinion Of
the outside world as to the merits
Of our cause; VIC may care moth
ing for sentimental sympathy. with
our Anglo-saxon heroisn. or sentimental
aversion to our social system; but at one
point VIC do we'll to be scnsitiYe-our word
must be as good as thcwurd OF any merchant
on fCLanEe, Of eny 1nanc1er on the DOurse.
True, wenre cut off from the rest Of man.
kind, our debt Is family Affair, but if we
NHTE EuuE 1uk AuEEfGE 4IUul 4tIEl5A AuLtE~
course, nc could not afford to dcspiao our
selves and one another.
And Wo were fast drifting into this self
contempt. The adjective "Confederatc,' - Us
applied to the various make~6hifts rendered
necessary by the War, Is quite the reverse Of
complimentary. Confederate cotleo IS roasted
rya. Confederate paper is only TIT for wrap
harnless rs If they were made Of lead. Con-
federate notes are treated Is If
they we're no more valuable than
ful banter, We were !. T., ending 7 d .ola IN
comes byword, our cause will be tmperiled,
our cscutcheon defled. We can fight the
Yankees with captured arms; We cannot
carry on the war With captured grcenbacks.
Reputation and subtugation ore not synony-
nous; bnt if we desire to avoid the horrors
but, at best, sad necessity for the invaded,
re must redeem the currency.
These patriotic motives aro not the sole
motives for the universal demand Of a new
system OF taxation with view to the cstab-
lfshment Of healthier medium Of circula-
tion. 4 few weeks ago they were not even
the leading motives. The uncertainty Of Ill
cneioned By the rising tide of the currency;
the Increasing contest between the steady
course Of the age OF gold and the mad
career Of the age Of paper, made
almost every class c1amorons for q reform.
Then, when it bccamc apparent that some re-
form would be attempted, men began to con-
slider what reform meant, and marked So
briefly Inns taken the place OF IN almost jor1Al
despair Add to this the recent disasters
which hage befallen onr armies and the EVIL
dent necessity Of making preparations for q
struggle of infinite durntion, md It
time for high resolve, for wise
counsel, md for speedy execution. IndI-
viduals may be scurFying to and fro, cndeaS-
all possible contingencies, but there is q
| grand pause In the life Of the people at largo
"a grave suspense. We all know whittier
/ we aTe grayjtatiDg-but who can estimate
| the shock OF landing from the hot air OF spec
u!ation on the cold, solid basis Of Intrinsic
| value.
The voluntary system has been secuted by
| the good sense ofthc people. 4 few weeks
ego It had advocates, but we live last in
| these days, md National Loans arc as
| obsolete as the world before the flood.
| The reduction Of our currency must be &C.
co1np}ishcI by force. Let the various fore
ing systems which are propounded fall into
| two categorics: funding, guaranteed By spe-
| ciel taxation, and the levy Of large direct
contribution-both Of them decidedly disa-
| Creeable. But we eancot expect to go
| through such carnival without Lent
without touchpf indigestion Of twingc oj
the gout; and neither iainp nor colchfcnm
can be considered pleasant to take.