The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-11-03
THE CONFEDERATE DEBT.
Interesting Reading IN the Light
OF To-Day.

Washington Special to N. Y. Tlmes.l
Pending the negotiations between Gen
erals Sherman and Johnston for the sur
render Of the rebel army, commanded by
the last named officer, the terms OF sur
render were presented TO Jefferson Davis,
who was at the time, with the members Of
his Cabinet, flying by rail from Rich
mond. Davis convened his Cabinet in a
freight car at Charlotte, N. O., and in sub
mitting Sherman's terms requested each
member of his Cabinet to state his views
on the subject in writing. The several pa
pers thus submitted by these gentlemen
we're among property captured by the Fed
eral army, and are now on file in the
War Department, among the rebel ar
chives. John II. Reagan, member Of the
present Congress from Texas, was at that
time Confederate Postmaster General,
and submitted his views at great length
to his chief. The conclusion Of Mr.. Rea-
gan's letter on the terms OF surrender was
devoted to the payment OF the rebel war
debt by the United States Government,
and will be read with peculiar interest at
this time. The letter, like those of his
colleagues in Davis Cabinet, was dated
Charlotte, April %, 1866, and concludes
us follows:
Nothing is said in the agreement about
the public debt and the disposition OF
our public property, beyond the turning
over Of the arms TO the State Arsenal.
In the final adjustment we should en-
deavor to secure provisions for the audit.
ing OF the debt Of the Confederacy, and
for its payment, in common with the war
debt OF the United States. We may ask
this on the ground that we did not seek
this war, but only sought peaceful sep.
aration TO secure our people and States
from the effects Of Unconstitutional en-
croachmcnts by the other States; and be.
cause, on the principle Of equity, allow
ing that both parties had acted in good
faith. and gone to war on misunder-
standing which admitted Of no other
solution, and now agree to reconcilia.
tion and to burial Of the past, it would
be unjust 10 compel our people to as.
sist 10 the payment Of the war debt
OF the United States, and for them 10 re-
fuse to allow such OF the revenues as we
might contribute, to DO applied to the
payment Of our creditors. II il should
be said that this is libcrality neyerex-
ercised by the conqueror to the conquered
the answer is that il the object OF the
paci6cation is to restore the Union in
good faith, and 10 reconcile the people to
each other-to restore confidence and
faith and prosperity and homogeneity-|
then it ia Of the first Importance that the
terms Of reconciliation should be based
on entire equity, and that no just ground
OF grief or complaint should be left to
either party. And to both parties, look
ing not, only to the present but to the
interest OF future generations, the amount
OF money which would be involved,
though large, would be as nothing when
compared with a reconciliation entire.
ly equitable, which should have no sting
to honor, and no sense Of wrong to rankle
in the memories Of the people, and lay the
foundation for new difficulties and for
future wars. It is to this feature, it seems
to me, that greatest attention should be
given by both sides. II will be OF the |
highest importance to all, for the present
as well as for the future, that the frank
ness, alacrity, and justice Of both parties |
shall be as conspicuous in the adjustment
OF past difficulties, as their courage and |
endurance have been during the war, ifI
we would make peace on u basis which |
would be satisfactory, and which might
be rendered perpetual. In any event
provision should be made which will au.
thorize the Confederate authorities
to sell the public property re-
naming on hand and to apply the
proceeds as far as they will 20 TO the pay
ment OF our public liabilities, or for |
such other disposition as may be found
advisable. But II the terms of this
agreement should be rejected or so modi.
fed by the Governmect Of the United
States as 10 refuse recognition OF the
right OF local self.government and our
political rights and rights Of person and
property, or US to refuse amnesty for past
participation in this war, then It will be |
our duty to continue the struggle as best |
we can, however unequal II may be. as il |
would be better and more honorable to |
waste our lives and substance in such |
contest, than to yield both to the mercy Of |
a relnorseless conqueror. I am with great
respect, your excellenoy's obedient ser
want. .' JOHN FL. REGAIN,
.....--. PostmG1ter General,
Tothe President c. s.A.