Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-11-11


struggle without parallel in history, anC
united, trust, in destiny without ar
equal. You may apply to any one of thu
classes above referred to, and he will tel
you as pallistlon for the apparent higl
price of his merchandise, or manufactures
article, or agricultutural product, that HI
will take it in gold at the. relative value i
bears to Treasury notes. If he is sincere
what injustice is done him II his govern
ment pays him in the very currency he
preferred, and at the prices asked, wher
he sold the article which procured hin
the Treasury note which Purchased the
government bond Some may say, 1 hold
the government obligation for SO much
and the government is in honor bouud tC
pay it,
Those who reason thus make aVarice the
rule and justice the exception in an hones
settlement. Can there Oe any justice in
demanding of a government one hundred
dollars for that which cost the purchaser
only four or five2 think not, and such
in my opinion, will be the honest verdict Of
the people who have suffered most in this
struggle. If It is insisted that the nominal
debt of the government shallDe paid, out
of whom is it to come aud how is II to be
raisedH Will you ask the soldier who
obeyed the first summons, and has served
throughoutlhe war without tfaltering,t to help
pay to his neighbor an obligation which
necessity imposed, but for which paid
only one-twentieth of its nominal value
Would there be any justice to such de-
mandF He had better burn his bond than
harbor such thought. II the creditors
themselves are the proper ones upon whom
TO levy the tax, it then becomes aquestion
of calculation whether to take the real
value of cost to them for their obligation,.
raised under the common burtheu of taxa
ton, or insist upon the payment of the
nominal value, and pay it all themselves by
q tax upon the securities.
You may desire to know, after have
reduced the debt to form which seems at
least manageable, how propose to raise
the means which will be required even for
the reduced liabilities Of the government.
In the first place would tax all the secur-
tiles bearing rate of interest above six
per cent, SO as to bring them to that rate,
making the interest 10 the public debt uni
form. Our exports for the first year or two
after the war put down at one hundred
millious--a little over one third of the ex-
ports from the slaveholding States under
the United States government in the year
1860. This amount of exports under all
the laws of healthy trade, will give US i'm
uortg of a like amount. A duty OF forty
Der cent upon the imports and twenty upon
the exports, will give US revenue OF sixty
milIions. Before the separation took place
the United States government expended
sixty million annually-of this amount If
teen million were expended in private
claims, fishing bounties, the Indian service,
the public lands and the post office service,
the larger portion of it for the later-none
of which, except, perhaps, a small portion
for Indians will be required for the expen-
ditures of the Confederate States.
Under the constitution the Post ohce 10
self sustaining, and hence we are not call
ed upon to- provide any portion of its ex-
pepditure from the public money. You
will, therefore, observe that sac, 100000
required for objects under the Uited States
9oyernment, for which of similar char
scter our government expenditures will be
required, eIthink, therefore, that we may
safely calculate that $40, 100000 will be
necessary for the Confederate States in
supporting the government-add to this
$l2 600 ,OOO, the interest on the public
debt. and YOU have balance of lS,O00,-:
OoO-the annual revenue of $50, 900, 900
for a sinking fund to pay of our debt.
Would it not be wise in Congress to iudi'
cate some such policy in providing Tor the
pavment of our indsbtednessS 1t would
settle the values as TO past transactions
and inspire confidence as to future opera
tions-besides let European capitalists
know what they had 10 expect on the gen.
eral settlement which must take place at
the end Of. the war. T. CLAYTON
The PREsIDENTlAL oANDIDATEs.-PREPER'
EscE OF THE REBELS FOR M'oLELLAH-oLD
ABE AN UGLY OUsToMRR.
From the Houston CTexaS) Telegraph, oct.17'
In our last issue we expressed the opin.
ion that Lincoln would be reelected, but
that our own preference was for Mcclellan.
We observe that the papers at Richmond,
where they have sources of Information we
do not posses here, are, without exception,
for Lincoln. They think Mcclellan has
greater ability than Lincoln, that he would
conduct the war strictly for military re-
suits, and on military principles, and there
tore more tormidabiy, and that the demo-
cratic party would become rapidly cousolr
idated in the strenuous support of the war,
to which the republicans by passion and
hate of the South are already fully com.
mitted. There is force in this reasoning;
but We somewhat suspect our Richmond
cotemporaries of some diplomacy in their
position. Their advocacy of Mcclellan
would not be likely to be OF service to him
in the North. For our part, If we had the
choosing of their President, 1t would Ger.
tainIy be Mcclellan. Say what we will,
Old Abe has been and will continue to be
an ugly customer.=His reelection will be
n national ratification of the most extreme
war policy. he will enter a second term
of Office with an eye single to the war. His
power will be absolute, Anything he has
ever heretofore done, anything he may
choose he will feel himself authorized to
do under the popular sanction Of his acts,
aud the great war commission he will hold
from the people. His organization is al
ready complete, to be strengthened aud
perfected by the measures necessary. The
entire energies of the government would
be at once concentrated on the war, and
his reputation aud that of his administra-
tion would be staked solely on its results.
II