The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-05-08

that their cotton sinai! be paid for IN specie,
what will be the effect One hundred and
eighty million Of dollars worth OF cotton is
paid for il IN gold. From whence is this gold
to come? It ID not in the South. 1t must
come from Europe or the North: Shipped to
Europe or the North. the purchaser, il the
gold remains in the South, must be reimburs-
ed the specie he paid tor it. So much moro
gold will be required to be laid down by the
States. Specie, from the purchase Of the G It,.
ton, in all it's changes OF hands, must follow 1t,
to Its final consumption. The original price
in gold is left in the South, and as much more
gold is required to move it, at every change of
proprietorship.
It will possibly be objected hore that the gold
will not remain in the South. but like other
commodities Of trade will follow the demand ;
end that the North, by their superior resources
of commerce, will extort it from the South.
The premise will not be disputed but the con-
clusion does not follow. AS have pointed out,
the demand is here.
return to the consideration of this PROPOSE
tiOn from Mobile, as question of currency.
Another result following the selling Of our
cotton for specie does not exclusively belong
to the South, but extends in it's benefits to ali
ofthe United States The people of Ohio and of
Indiana are equally interested. 1t may be made
short cut to effect the policy Of Mr:Pendleton.
IL may compel the resumption Of specie pay
ments throughout the United States, and thus
restore the currency Of tho constitution
Nobody but the gamblers and political dos
peradoes of all kinds now ruling at Washing
ton can look with appreciation 81 the continu-
uanco OF an iiredeemabe, fuctuating paper
currency in the United States: A greater
evil short of war, cannot be inflicted Oh any
people. The very object Of all government
justice betwixt man and man-is defeated by
1T in the daily TRANSACTIONS Of life. Legitimate
enterprise is paral! zed. whilst all business in
v,!oving the use of money. partakes Of gamb
ling. At every rise and fall OF the value IF the
currency, thousands are robbed, and fortunes
are made and lost without industry on the one
itself becomes tainted with the lust Of illegiti-
innate gain and speculation, and loses all prin-
ciplc IN its administration. We have to live
under that government and abide it's acts.
Now, with California and Texas, and the whole
cotton region of the South having nothing but
specie for it's currency, one of two things must
take place-either the paper currency Of the
United States must be made equal to gold, or
1t will be destroyed. In either event specie
will become the currency of the United States.
Here, then. is q grand result, commensurate
with the United States-excluding New Eng
laGd. Is the result not worthy OF attainment?
If the planters Of the South will sternly de-
mand and enforce it, the result is within their
power.
There is still further object to be gained
by enforcing this policy. 1t is in vain to look
for discretion or equity of laws from the rul-
ing faction now in possession Of the Govern
ment of the United states. Both arc essential
to lasting an general prosperity. This par
ty arc only to be overthrown by events. Their
prohigate and subversive rule 1nust be realized
in the distress and ruin it brings to the peo-
plo OF tho North. 1t Is this paper money, in
it's various operations. and the vast taxes col
lected from the people, and received by the
bondholders and capitalists. and expended at
tie North, which gives the semblance Of pros
perity they exhibit By no contrivance of
goer om can they Pay ten cents in the
they postpone their debts for posteritv to
pay, whilst the enormous taxes collected yearly
from the people make the capitalists richer,
tom Of this whole system Of Wholesale robbery rob S
stands 'hs currency Break up this, and we
go far to uproot the whole system. Tho next
cotton crop. Vigorously cold for specie, may
sharp; but it is the only remedy And it has
the advantage OF not afflctlng us, but those
whose tyranny and proflgaoy have imposed
this evil on the people Of the States. The
have in insolent blast at Washington fitly rep
resents its swindling currency-its swlndling
bonds-and it's swlndlng tariffs.
There Is one other benefit will merely al
lude to- rat her than expose. The Southern
people are peculiar people-pecuiiar in their
under no obisatfSSBBss tfSSBBssueGed eE people They rest
ment Of their conquerors, in any or their es-
sentlal s attributes Of rule Is it not better for
them IN se to stand apart as much as possible. and
policy as peculiar as their condition? In the
troubles and contests which are assuredly to
come will it not be we'll for the people Of the
South to have their country Ailed with gold?
Is not the experience of widespread ruin in
one repudlated currency Q lougbp Can any
man estimate the difference between the pow-
er OF Q people, more particularly tried under
any pressing emergency, when possessed of
the money of I'll world in abundance, and
their abjecC helplessness and poverty in pos
session. only Of dirty linen rags?
Let Us demand gold for cotton. Let us ex-
tend the demand to sugar and rico. Let us no
onger bs the weak and inert tributary tools OF |
of vulgar and venal mobocra ,y-a fraudulent
power that Belongs to US. Let US SO admins
Ter our monetary affairs, that it shall yet be |
the inconsiderable privilege of every living |
confederate soldier to apply the countenance
of other waste paper. r.
Ashepoo, May 1, 1869.
fH ms>s~ss A~.s~I