Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1864-01-07
AN ANeLoREBEL VIEW OF THE SITUATION

4
| The Richmond correspondent Of the London Times
writing under date Of November l4th gives valuable
information corroboratye Of the straits to which the Con-
ederates have been reduced by the progress Of the
| tonal arms. We extract the following:
"The Confederate States rapidly approaching
stage in this which will test than the stub
bornnes and enacy Of their temper and patience and
only be successfully encountered by national spirit
systematic it 10 ros0lute. Their enemy, with
much pertinacy and far sagacy than heretofore,
hens in the edges of the rebellion on every sde avoids
the frequent Of pitched battles and general en-
gagements, pounces with hawk like swoop upon isolated
and inadequaey supported bodies OF men, evnces pos
session Of admirable information keeps the Coufed
crate Generals constantly the rack and harassed by
rrup0ns OF cavalry makes his superiority OF numbers,
and still his abundance of supplies for horse and
man. more and felt and finally is investing the ports
of Secesss with Gordon of vessels numerous as for
the frat time thirty months to make to the Con-
! federate coast really dangerous and difficult
"On the other hand, in rebeldom itself the Federas
have powerful ally in circumstances, which, to my think
ing have from the beginning quadruped the magnitude OF
the Confederate tack No one who has been conversant
with the Northern States during the last two and half
years have failed to notice with as0nhment the faith
stronger than death which the Northerners have exhibited
in their star their manifest destiny their religion,
their Alpha and Omega, their dream of dominion from sea
to sea- and Ito quote Mr. Eyeretts words from the icy
pole to the flaming belt of the equator No parallel faith
ever been exhibited by the Confederate States their
future Six great Southern victories in the field and three
drawn battles exhsusting the nine principal collisions of
the war the absence Of such panic rous as Bull Run
ade the unmoested predatory flight of Aabamas aud Flo
rdas sea- have altogether failed to inspire the of
the South with 1.-THE of that confidence in themselves
which neither defeat disaster, hope deferred
illusions dspeed have shaken out of the N0rtherners
Deny it who may, there is something sublime in this
shadowy earnesness and misty magncence OF Northern
faith and selfreance Would that could promise of
future and final Southern triumph in any corresponding
quality of the Southern mind In many fashions Southern
unfah crops and rec0s upon the Confederate Govern
ment making for instance Mr. Memmnger's task though
he takes his stand upon raw material worth sixty
enty millions of pounds sterling hercuean as compared
with Mr. Chases who issues vastly larger promises to
to paw on security of breadsu exports worth only sixty
or seventy millions Of dollars There are of course other
to account for the fact that three dollars in green
backs will buy two dollars in gold while requires thirty
paper dollars Of the Confederacy to buy like but
the fundamental explanation of the discrepancy in value
of the redeemabe paper issues of the two sections lies
in the vastly superior faith in themselves OF the Northern
people.
deracy the cuckoo cry DO something to arrest the de-
probation of the currency or we perish but hitherto
nothing has been DONE and, by every body
the brink of precpice. 1t is universally ad
mted that the country is richer in every thing that
sutes wealth than it twelve months ago. that there
suiciency of meat and far greater abundance 0!
ais than year that the fruit and vegetables have been
granted in unusual abundanco that Richmond has sup
dies OF coal and wood vastly in of those laid in
against last winter But in spite of these facts, unath
in Confederate currency the farmers refuse
part with their crops on any terms Hour feches 800
every thing proporonately dear, and nothing plentiful
save Confederate currency until at last gong
to market has been heard to exclaim carry basket
to market to hold my money, and carry pocketb book
to fetch home the slice of beef which 1T buys
In this emergency all eyes turn to the Confederate
Congress- which meets upon the It'll of December and
graver question submitted to deliberatve as
semby than that which awaits its immediate discussion.
Some eight hundred nine hundred million dollars are
afoat in community which could with difficulty sustain
circulation of two hundred Millions and, than all,
Mr. Memmnger's papermi is harder at work than ever,
until the dollar, which represents value OF four pence
ha
The redundant currency has somehow to be funded fresh
issues to be suspended, limited amount of circulating
medium to be put forth and solemn pledge gwen that
to record that the people temper to stand extrava
CANT taxation. For many weeks past the Confederate
coane s na
the presidents Of the Southern banks to assemble
Augusta the 10Th instant.
81 have reason to think that such plan the fol-
lowing has found favor In the eyes OF influential men
Authority will be given to the Secretary of the Treasury
to 900 10000 Of six per cent coupon bonds and
simultaneously impose annual tax of five per cent
real and personal estate capitalized of which tax
half paid in currency and the other half specie
coupons of the 81 900 900 900 loan There will be in
ducements offered (such bonus Of FIVE per cent ut
buy up convert currency into this loan and it
is hoped that much of the existing circulation will be
quickly retired as will Immediately reduce prices and adj
nit OF limit being put to the outstanding currency.
Other details of this scheme there 10 abundance but
concisey stated its outline is not far from what have
sketched My apprehension is that 1t will not be
prompt and drastic enough in its operation to sweep
at the redundancy Of the currency to inspire
confidence in distrusul people, and to bring supplies
promptly into market II it fails there 10 alternative
left the Government but to and impress whatever
it wants with high hand and to this step it will be i'm
PEELED, rather than yield to the hated Yankee, by the |
almost unanimous voice of the Confederate people.
1t was long ago remarked by Machavel That pen
ple once embarked in 10 forced into peace
reason of pecuniary iDanion; and there
ons less amenable considerations of cash than the two
sections of sundered republic which three years
hibed an average of individual wealth among it's ctzens
such as could BIO found where else upon earth The
of the Confederaes in adjusting their
currency getting the supplies which abound in distant
Florida and elsewhere up the mouths which need Them
and in introducing, through increasingly stringent
blockade all that vital for their continued struggle,
be- and probably will be- grevous and perplexing; that
they will be such TO extnguish paralyze future re-
sstance will not be lightly credited by who knows
shortcomings supplemented what energy and ingenuity
displayed.
Il cannot conceal my impression that very little |
energy has been shown by the Confederate Government
their operations against Knoxville and Eastern Tennes
Successes have been gained at Loudon by the Con-
federates, and it would that nothing re-
quired to drive Burnside out OF Knoxville than hearty
and harmonious cooperation between Gen Stephenson
who is at Loudon and Gen Sam Jones, who is in West
ern Virginia But energy, enterprise has IN this
quarter been exhibited, although assured by officers
attached to Joness command that, in their opinion ten
thousand Confederates could sweep ast Tennessee clear
of Federas fear that the harmony of action between
the armies OF Generals Lee and Bragg which has been
presented in England existing s imaginary the
and fro from Virginia to Tennessee back