Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-03-31
TIE Rebel Debit

The Richmond Enquirer is appalled, at
the magnitude of the rebel debt. 1t don't
see how it is ever to be paid. Hear it:
These thousands of millions bewilder one,
confuse all ideas of enumeration, and do
much to destroy our credit. Two thousand
millions. Think of 1t. Who can estimate
it! Who can comprehend it? Not the peo-
| nile whose bone and muscle are to pay il.
| Not that army in the trenches, hatless, shoe
/ less, foodless, naked, hungry, suffering.
| Shall these men, after years of such suffering,
work and toll through long years of labor
| and privatiou, and bequeath to their children
the legacy Of work and toll to reimburse the
bondholder. who, having now paid one dollar
Of gold value, then demands tens Let the
cotton, tobacco, meat, forage, negroes, all be
taken, and then let the bonds be taken like
WISE
The prospect is rather discouraging.
Should the war stop tomorrow, rebellion
would have bill of costs to pay which if
distributed equally among the people
would amount to some $500 for every
man, woman and child. But as dollar
in Confederate currency is worth only
about two cents and half in gold, this
debt must accumulate at the rate of at
least three hundred millions per month,
and would swell up by the end of the
year to something beyond twice its present
enormous bulk. No wonder the En9uirer
is discouraged. 49,.
But what is the remedy it proposes !:
Reputation. 1t says that of this two
thousand millions the Government has not
received the specie value of two hundred
millions. In view of which it asks: "Can
there be any wrong or injustice in reduc-
ing this Indebtedness and bringing it with
in the capacity of the resources of the
country to pay, and to provide for its
payment about what the Government re-
ceived for it - In other words, it would
have the Confederacy pay its debts con-
tracted on paper basis, on gold basis ::
that is, pay some two cents and half on
the dollar! This is compromising with
ones creditors with a vengeance.
Nor would the Rebels act without pre-
cedent. JEFF. Davis is the father of Re-
pudiation. He reduced it to science
years ago in Mississippi. And there was
not one-tenth part the excuse for repudia-
ting then that there is now. The French
Republic also repudiated portion of its
public debt at the close of the great Rev
olution; but even that although the as
signats had deprecated to nearly one thou
sandth part of their original value) paid
thirty-four cents on the dollar.
1t has been apparent for some time that
the Confederacy, even should it live, would
have to lind refuge from the financial
storm in reputation, but we were hardly
prepared for so frank an admission of the
intentions of the Rebels as is made by the
Richmond Enquirer" Is it not triAe
indiscreet, to say the least, to publish be-
forehand the fact that they don't propose
to pay their debts Will 1t not have the
effect of frightening the creditors and put
ting customers on their guard: Will
money-lenders not be likely to play shy
of an establishment that puts q sign over
its door that it don't mean to pay more
than one forty-ffth part of its liabilities :
Albany Jouanal.