Year: 1863




showing the injury to our currency by the block
ade running which is carried ON so largely at
Charleston and Wilmington, from which we make
the following extract:


So much has been said about the evils of
"runniDg the blockade" Oiterally or metaphorical-
ly,) that in both the subject has been about
worn out, and still the blockade continues to be
run. We don't think we can stop it one way or
the other, by anything We can say. We suppose
it will 60 on, but still it might be placed under
some regulations to the character of the cagoes
brought in and taken out 1t would be folly to
attempt to control the final destination of any of
products such as cotton or naval stores, after
they have once found their way into the general
markets of the world. 1t is useless to talk about
cotton, &c, finding way to Yankee markets.
That cannot be helped. Once out and we lose
control of it. 1t is the first step that costs. IF
the cotton were kept at home it could not find its
way to Yankee markets. IF it were kept at home,
altogether at home, the pressure of the war would
be felt much more severely in Europe, and the
Kings of Europe would find it no easy matter to
sneer at King Cotton. Well, we urged these con-
siderations long, ago, but then we might as we'll
have held our tongue, and We suppose we might
as we'll hold it now.


"There is money in it," and therefore people
will run the blockade. They speculate just like
other people. We don't think they are as bad as
the horders of provisions, but their operations do
about as much harm, perhaps more There may
be, and no doubt there many Yankee emotions"
and gimcracks among the blockade goods sold at
auction, but even that is not the thing that is
most worthy of being looked at it is in fact, CON-
paratively small matter. The effect upon the
currency is the most important of all, and that
does not depend in any way upon the origin of the
Let ha
steamship Blockade runner comes into Wilmington
or Charleston with an assorted cargo--English,
French, Yankee, or all mixed, which is sold at
auction and brings million of dollars. The same
good steamship takes out cargo Of cotton, say
six hundred bales of four hundred pounds each at
forty cents per pound, amounting to ninety six
thousand dollars. Say now-we put it thus
Take Confederate Notes received for cargo $40 900
Deduct I" J" paid for Cotton, $4,000
eO4, 900
Deduct " Expenses, 10000


Balance, ss4, 900
This exhibits the transaction here in its refer
to the currency, and it is only in reference to
that that we are considering it now. 1t will be
seen that after buying the return cargo and pay
ing expenses, there remains nine hundred thousand
dollars of currency-certainly over eight hundred





Confederate currency which Cannot be used
abroad until it has been shaved off for gold or
sterling exchange at any price, and that it IS SO,
is evidenced by the fact that half dozen heavy
arrivals will be certain to advance the premium on
gold at least fifty cents. Common sense will show
us that with a limited basis of specie, and that
being exhausted by trade which can take only
one-eighth back in produce and the balance only
in specie, the general currency must suffer terri
~ hoc tol
The main profit of the thing consist in getting
out the cotton, tobacco or spirits turpentine. That
pays six for on the round trip even if no cargo
were brought in by means of the exchange OBJ
tained, which be sold at six times the amount
paid for tn stuff carried out, all expenses nclud
ed; but of course, if things could not be brought
in, this demand for exchange, except for govern
ment purposes, would not exist, and the currency
would not be shaved off to obtain this exchange
or specie for the purpose of buying these things
in foreign markets"
Every man who runs for Congress in North Carolina
ought to be pledged in favor of passing law against
general blockade running.