Year: 1864

the expediency Of the grounds on which the
Secretary Of the Treasury still maintains the
estrictions placed by his regulations on trade
with persons residing in the regions reclaim
ed from the military control of the insur-
gents We have ourselves hitherto abstained
from much comment on the subject, because We
had supposed these restrictions were established
under the pressure Of military considerations hav
ing necessarily paramount weight over I" the
laws Of trade" And we had further supposed
that these regulations were authorized if not d.
rected to be made by the existing legislation of
Congress on the subject.


We understand, however, that these regula-
tons take their origin chiefly from considerations
Of expediency dependent on the discretion Of the
and are not imposed by act Of Congress, while the
motives of military prudence which at one time
may have argued 10 their favor are not believed
by many intelligent publicists to exist in an equal
degree at the present day, if there be advsnt
of this kind resulting from the policy question, tits
urged that we may fnd in the pursuit of differ
ent policy countervailing advantages Of another
kind sufficient to outweigh the former. Not hav-
ing sufficiently investigated the subject to venture
the expression of de6nitive opinion a ques-
tion which obviously has more sides than one, and
while conceding that the tenacity with which the
Secretary of the Treasury adheres to his regula-
tions on this topic is of itself, sufficient proof
that there must be some reasons for the policy,
and such as are satisfactory to that enlightened
officer we cannot hide from ourselves the force Of
some Of the arguments popularly urged in favor of
their relaxation, if not their entire removal And
we are confirmed in this conviction, while at the
same time satisfied that the Secretary of the Trea
sury will judiciously modulate his regulations
according to the dictates of a sound political
economy, by observing report that through
the interceason and earnest solicitation of Senator
Brown Mr. Chase has been induced to remove the
restrictions on trade in the State of Missouri"
As soon as military prudence shall seem to justify
it, we do not doubt that there will be more gen.
ersl and extended relaxation of the policy in
question.


The New York Commercial Advertiser, an Admin
stration paper, thus enforces some of the oonsiIe
rations which argue it thinks in favor of change
under this head at least with respect to the trade
in cotton. 1t says:


The present policy Of the Government in regard to
the purchase Of cotton in regions reclaimed from rebel
sway is The trade should be freed from many
Of the restrictions imposed upon and thrown open to
general competition Not much cotton has been spared
6y the torches OF the mad aud reckless who have
sacrificed the hocculent fibre to the vagares Of their wild
and unreasonable patriotism, ADD have impoverished
their friends lest their enemies might chance to be
rched Bot such is left is hedeed in with difficulties
and Qrt about with obstacles to approach, as ii it were
in very deed King whose presence was too sacred for
the intrusion of any but especially commissioned agents
This trade in cotton should not be absolutely free as
before the war for it might be made the Of
tensve trr de in contraband goods But careful Dspec
ton and wtlLodered system OF intercourse could be
easily devised by which the object would be successfully
attained The co.tn within our llnes small as the
proportion bears to the crops that formerly
burdened commerce, is essential to the interests OF
the worlds business and vital to the necessities OF mil


lions OF few hundred thousand bales thrown upon
the market would speedily incline the balance of trade
fooayds il not favor would send down exchange
and the price of gold would set the 1le wheels of
facturers busy motion, would gladden. the hearts and
homes OF teadast and suffering friends in Lancashire
and would alter the whole pect Of our foreign relations,
substituting positive friendship for the now prevalent
doubt and hesitation 1t would check the enterprise of
cotton culture in the virgin fields Of the East by giving
asaurance OF full and uninterrupted supply from the old
and o. ginal 1t would greatly impair the value
Of that cotton negotiated by Eranger in France and
Enaaod and boIstered up by McRse. Finally it would
be precautionary against the evil results OF an
disturbance Of the peace Of Europe or Of
any reVuson ~ tno iouoto'B eo""os VI A~o""o" """
Paris


Nor would the effect be less marked upon rea-
tons to the States in rebellion. Their citizens
They want money and the necesssres and comforts Of
life lake their cotton and give them greeDbacks and
they woud speedily feel the force Of the old tie and be
CONVINCED that the Unon Of DID, brought with il the
richest blessings of individual and general prosperity The
Confederate finances at the lowest ebb They need
but the application OF the power to toppe them
over into rretrievable and wide spread ruin The Con-
federate authorities profoundly jealous Of the crcua
ton Of our notes among their people, and endeavor to pre-
yent il by the most arbitrary and reprsssive laws In
,pe Of ali their penalties the sale and Of the United
states currency common In the nation created by
JsT.r.on Davis, It has positive value above and be
vond anv thing which bears the image and subscription


f the rebel sar aud bis ministers The needy citizens
within our lines would gladly exchange their cotton for
this money They would have no fear OF Inferior conse-
uuences from nsurgen vengeance for they know that the
country redeemed from rebel thrall 10 permanently re-
occupied and possessed aud that the Stare and Stripes
will 90 back no more.


Ii wss favorite motto two years ago that commerce
followed the HaQ Measurably the assurance has been
kept but commerce has followed with hampered feet and
restricted notion and the great advantages anticipated
from the reopenng Of the Mississippi and the reoccupa
tion OF rebel territory have only been partially realized
We believe the time has when different pohcy
should be adopted and when the best results would How
from il Place fifty hundred millions OF greenbacke


IA the reclaimed regions and give people cotton TO
that amount and they have sock in trade that would
sve us vast influence 10 the markets of the world IL
n hovvever to ourselves that the advantage would be
snost apparent. Commerce and finance would be really
kinr compelling the suhjugaon Of revolt receiving the
aegance Of those in rebellion Fastening the day OF


anent peace and resumng the control which has been