The Chattanooga Daily Rebel. [volume] (Chattanooga, Tenn.) 1862-1864, 1864-04-22

FRIDAY MORNING. APRIL "a, 1854.


ina portancc IS some, to tAa fcan.ial coudi- |
tion Of the North, and the I rank rup ,cy which
10 staring that people in the face, in eoa-
neatiou with the question of peace, il can
not BE- denied that it is "A eiemen. of no
little consequence, and Will weigh heavily
with sho yankee natien, when they come to
strike balance between tho oo.clusion ,and |
the further prosecution Of the war. They
are pio'erbially money loving, aud eloss-
lasted people, aud never overlook the mat
ter Of pro6t, especially in a trausac6ea Of
auT magnitude It is derc nstrsbls by facts
aud figures, that every dollars wcrth Of their
property will soon be no:tgagca to pay the
debt accumulated in the tremendous expe-
diEures of this war, if peace i, not reached
at very early day. From this liability
thus incurred, there is no escape, rave in
resadiation, AMI that is equivalent to the
rufs Of every individual, mechanical IN ]
Commercial interest. 1t would reach, ia it,
dis,strou. consequences almos', syers FIRE.
side. The mite of the poor, the hard earned
compensation Of The laborer, AID tho as.u-
mutations Of the rich, would be swallew.d
ur in one common ruin.
The expansion of parcr currency has
been 50 great, growing cut Of the neec..i-
ties OF the war, and its no~s.rou. expendi
tu-es, that tic government i.-uc,have driv.
en- every other species of money from the
genera! circulation, and have now them
selves become, by their exccssives amount,
u,eeral;y irrsdeematle 1t is the universal
currency, and nothing but greonbacks are
ever seen in the h,siness transacsions of the
country.
Ia such state Of ,hisgs, what the cen
dision Of the country w6uld be if this su-
perabundans m ass Of paper currency was de-
c'ared worthless, can hardly be conceived,
aud the suffering distress, aad wide spread
ruio, which woald Immediately rssult cac-
not be estimated or described. Yet these
arc precisely the. circumstances into which
tho Northern people are apparently uncsn
sciously drifting. 1t is evident that they
do not realize the danger which they are 20
raridly approaching, for they are rushing
bliadly ON. With all the Indications and
evidences of early and inevitable bankrupt
cJ around, they clamor for gre alter vigor in
the prosecution OF tho war, nstwithstandis
tho inn Il, cuse e1pcu diturcs thai would attend
it, and the accelerated depreciation of tho
government tissues which they must be con-
sci,us would necessarily result tn ref ON
Thy are either willfully bliad to tho im-
pending ruin, or they expect 10 escape
it 10y the plun der Of conquered States They
Pc hap Imagine that they will finally sue
coed in the effort at our subjugation, and
that the ccpfiscaiion Of Southern property,
fpcs ,fyrfcitures, unscrupulous cxactions, ana
| grinding taxation, will relieve them Of much
Of their debt, and re- establish their credit
FROM these premises, many dcduco the
rgament that SO long az they are able to
keep an army in the field, the war will go
en- because, as they hope to reestablsh
the value Of their currency, in which every
man is interested, by success, they will con-
tnue to struggle for it under any possible
condition Of their finances. This, in our
opinion docs Lot necessarily follow, for
reason which appears very obvious to Us,
that their in point Of dcpre ,ia,on Of their
currency beyond which it canno: be carried,
because it will be worthless, aud b:forc t.4at
point is reached both national and ;ndivid u
al bankruptcy must inevitably occur.
Il is sometimes insisted that a. We have
betn able to carry On the war upon cur
rency worth less than twenty Cor ouc as COM
pared with gold, that the North may do it
also, by a resort to similar cxpcdients. What
they might do, and what they are likely to
do, sre very different propositions. The po-
sititioa a1d condition Of the two nations is
entirely disimil.r. We are fighting FOR life,
liberty, and propcrty-far our hom-s and
Ere ,dcs, the security Of those dear to US,
nd the graves OF our loved oae, We must
c,nIuer. or We must die. The alternative
Of seac. is not within oar control, and we
are compelled to fight 20 tho bitter end with
money or without it, If our government
was to day without. dollar, or tho credit to
obtain il, the conflict would still go on. The
inseres's Involved are too important and
momentous, the consequences Of surrender
too horrible and roinous to be entertained.
But with our foes the case il different. They
are Sighting for our subjugstion, to re- es-
tablish sheic authority in these States, and
l. L.