Year: 1861

The tlnanclal Aspect or the " ar.

 Wars are enormously expensive. Old governments with established and organ ized sources of revenue, find themselves in the seyerest straits for means in prosecut- ing wars. Oar government has just begun to be. We are just born into existence and our nationality has just commenced. It enters upon its career without any capi- tai, but the stern patriotism and undving determination of its citzens-and that is enough In its very initiation, before it has secured credit CT recognition. or even completed it's organization, our govern ment is called to meet the extraordinary expenditures entailcd by the prosecution of war on the largest scale-a war of inde- fendcncc with a determined and powerful Joe. Such war cannot be waged without money, and a vast deal of it. Few yet t.ave correct idea of the cost of this war

 To carry on our war-like operations . vigorously and, therefore, with the best security for their early success will entail, at a. rough estimate, an expense of not less than a million of dollars a week - These figures may seem little startling, but no loyal man can be willing that the war should be conducted otherwise than vigorously No loyal citizens but will say that our righteous cause must and shall be sustained to the utmost farthing of our means No true patriot but will say this iust quarrel shall be fought out till we are freemen, even if we arc beggared by it. But this war will not impoverish and ex- haust the country, no matter how much may be expended in its prosecution The money will be expended, kept in circula = ton within our own borders, and there will be no revulsion or general tightness of the money market occasioned. The money spent in the war will be kept in the coun- try. Financial crisis and revulsion are consequent on depletion of capital caused by money being sent out of country to s,luare the balances in over-trasing, by r:ason of the imports exceeding the OK ports. So whatever money may be ex pended in this war of independence will not be lost to the country. The nation will not be the poorer for its outlay, though 1t would have been richer had the war not interrupted and paralyzed commerce.

 Hence, in view of the responsiveness of the war and the recency of our existence as nation, we may expect very soon that the government will call upon it's citizens for additional means. It may call for forty, sixty or eighty millions; probably for not less than the minimum figure, and no one need be astonished if the maximum figure given shall indicate it's needs. But, be the amount what 1t may, 1t can and will be raised. It is in the country. The money that has already been spent has been ex- pended in the country, and may find its way into the government treasury again. | With such securities as are provided in the fiscal plans, both of the State and Con- federate governments, it will seek that chan mel again. The government must have means with which to maintain the cause oi the people, and it must derive them from extraordinary, if it cannot obtain them ] from ordinary sources of revenue. It de- rives something from customs, and under these emergent circumstances it may pro- perly resort to the issuance of treasury notes and to direct taxation; not taxation upon any particular species of property but a democratic taxation which will fall lightly and equally y upon the whole nation. This tax may be so light as to be scarcely felt by individuals, but will yield large fund in the aggregate. Still this will be minor proportion of the government bulk of its expenses with treasury notes These added to the resources derived from customs and moderate taxation, will keep it in funds for an energetic and speedy prosecution of the war. Every southern man must do his duty to the extent that he can, with purse or arms, or he Is unworthy of the prize for which we strive-indepen- dence.