The Howard union., 1865-07-13
From the Richmond Republic, June 30.
What the War has Cost the South.


According 10 the census Of 1860 the en-
tire property Of the fifteen slave States OF
The Union was valued at seven thousend
millions of dollars. IT is interesting to see
what portion Of this wealth the South has
lost by the war. The slaves who have been
freed and their value lost by the war, were
valued at two thousand four hundred million
dollars. The entire damage 10 Southern
property by the direct ravages Of war may
be estimated at nine hundred millions OF dol.
lars. In Georgia, one hundred millions OF
dollars; South Carolina, one hundred mil. |
lions: North Carolina, seventy five millions;
Virginia, during the four years the war
ragged within its limits, two hundred and NJ
ty millions; Missouri and Tennessee, sew
enty.five millions each; Kentucky, Arkan.
sas and Alabama, thirty millions each.
Then there is TIE indirect loss Of four crops
Of the great Southern staples cotton, to-
bacco, rice and sugar.
For the last year before the war the cot
ton crop was worth two hundred and fifty
million dollars. Four such crops, at SINH
| lar prices, would have yielded a thousand
millions. The tobacco crop for 1860 was
worth forty millions. The rice and sugar
cane crops for 1860 were worth each about
twenty millions; four such crops would have
brought one hundred and sixty millions.
Here would have been an aggregate loss Of
thirteen hundred and twenty millions, sup.
posing that there had been an absolute nom
production of the staples for the last four
years. The cotton; tobacco, rice and sugar
crops that have actually been made during
the period would not reduce this figure be-
low nine hundred millions. II is true that
wheat and corn have been, 10 considerable
extent, substituted for these crops; but their
yield was oil consumed by the Confederate
armies and the slaves, and contributed moth
ing TO the general wealth.
The debt'of the ConfederOcy OF the tint
Of its collapse was ut least four thousant
10 millions, existing in the shape Of bonds
treasury notes, certificates, etc. This wa
Is due 10 the Southern people almost exclusive
ly, and they will have 10 bear the loss c
d the capital and the other original value
which it represents. or course, due al
lowance must be made for the constantly in
creasing initiation of the Confederate cur
rency as the war advanced, 1t was nc
four thousand millions in gold, or anythin
r like it, that the Southern people gave to th
Ie Richmond Government for these bonds nov
lr held by them. But say that it was one
N eighth of that sum, which is a reasonabl
'e calculation, we have an absolute Souther
le loss through this source of five hundre
1, millions. The annihilation of that debt
: the annihlation of. all the original values
J. pay for which it was contracted.
'e Moreover, the proportion Of the nation;
y war debt which the Southern people wi
= have TO pay will be dead loss to them, ir
3 asmuch as none of it is due TO them. 1t
: impossible to say what the proportion of tll
y property in the Union they will have dr
J. ring the time when the debt is in liquidt
S tion. In 1867 they had about one third
< the property in the Union. Had they ii
f. same proportion now, their contribution
Sc meet tina national debt would be one thou'
sy and millions of dollars. At the presen
'n time they have not one-siXth, probably ne
" one eighth, so much property as the NORTH
d and the taxation upon them, if levied now
n, 10 pay the debt would be correspo pondingl
~ limited But not for many years TO com
J will this debt be paid. Before that tim
y the South we trust, will be renovated S
! that its taxable property will again reach t
u something like the old proportions. In th
u meantime the taxes levied upon the Sout
'' 10 meet lis proportion Of the current interes
> Of the debt will, in the aggregate, we ma
!. safely assume, make up the difference; s
that in the long run the debt will cost th
} South one thousand millions at least, little @
{, no part Of which will go to its own peopl,
33n 3n We have enumerated Southern losses,
~ consequence of the war, 10 the amount
Uo- U five thousand eight hundred millions
vi dollars, namely: twenty-five hundred mi
,aI ,' lions by loss Of what was called slave pro,
Ao erty, nine hundred millions by ravages
:, war, nine hundred millions by loss of stap
~. crops, five hundred millions of proper
vel sunk in Confederate debt. and one thou
OH:' and millions by what must hereafter be pa
% by the South TO liquidate principal and i
Nv terest of the national debt. This, Of cour.
s Is is very rough estimate. We might la
an n, included many other items involving in
.hs .ho rect, though not less certain, loss
"a; .o Rough as the estimate is, it falls short
siH the actual truth.