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MILLEDGEVILLE, GEORGIA, TUESDAY, APRIL 5, 1864.
NUMBER 14.
,r 0 RM E & SON,
R- ,' rr ‘ 0 BS AND PROPRIETORS.
,LpHBX F. MILLER,
s 1 ASSOCIATE editor.
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[^financial System Emiibdied in the Tax
and Funding Acts.
These two acts constitute one scheme,
air! should be studied in connection. They
»ii!be beat understood by an explanation
fthe practical duties of the tax payer
anil currency holder undereach. To be
gin with
The Tax Act of Fe bruary 17, 1864
This act is additional to the act of April
vpb, 1863, which it also modifies, and in
s ine respects repeals. The duration of
the act is for the year 1S64, alone ; though
;imposes a retrospective tax upon certain
profits of 1863. Its operation is through
the same machine! y with the old law. it
imposes taxes,
1, Upon property.—Upon the value of
ail property, (unless specifically taxed
otherwise) held February 17, 1S64, and
as-essed at its value in the year .1860 is
levied a tax of five per cent., payable
Jane 1,1664.
The list of exemptions will be seen be-
rw; also the property taxed otherwise
fy the act. Merchandise is not included
ia this tax.
Embraced in the tax are 'land, negroes,
horses, mules, cattle, and all live stock on
plantations ; also, plantation tools,'instru
ments and provisions of every description,
ciicstituting the whole agricultural proper
tyof the country.
2. Houses and lots, furniture, books,
household and kitchen utensils and pro-
visions, and all sorts of supplies, constitut
ing real estate and establishments in cities
Slid towns.
3- Cotton an J tobacco, (held as invest
Kent—net us merchandise—so we construe
thekw.) and, iu general, all property not
named in the remaining items of the act.
If the hind, negroes, cotton or tobacco
'fernpurchased after July 1, 1862, they
are valued at the price paid for them.
From the tax on the value of property
employed in agriculture, is deducted the
T *lue of the tithes delivered to the gov
ernment; provided, that if the tax in kind
^nld exceed the five per cent, tax, the
"Foie tithe is to be paid, nevertheless.
This tax is due and to be collected on
hi Juno, 1S64, or as soon thereafter as
practicable. A question of some impor
tance occurs here, viz: whether the tax
agricultural property is to be pa:d in
^''ance, and the value of the tith.es re
ceded from time to time, or whether the
is to be first delivered, and the as-
certained residue to be paid? We think
!ie ratter the correct mode, for reasons to
^hereafter given.
i • On the value of gold and silver wares,
i'.fite, jewelry and watches—assessed at
" ie same rate, viz : of the year 1860, ten
PM cent.
. • On the value of shares on any bank,
,a >lroad company, or other joint stoqk
^mpanv—assessed not at its value in
!j h,but at its value February 17, 18G4,
ll of five per cent.
h Upon the amount of gold and silver
‘ *u : gold dust, gold or silver bullion, and
the amount oI all bills of exchange
(foreign countries, a tax of five per cent.
; upou t| ie amount of solvent credits,
j 4n k hills ?tnd currency, (unless such cred
'■'•(reused ia a registered business, the
Profits of which are taxed, and except, al*
’ U: . nQ U'interest bearing Confederate inon-
?d a tax of five per cent.
Eix includes notes, accounts, (ex*
, e (y mercantile or others used in taxed
l!,| ness,) bonds, whether State, Corpora-
tl(,Q 0f 0
jp-Does it
He thin!; not, they beiug regarded as the
Currency they * ’ —
“ tt *ever.
An
0l ' Confederate; also, 7 30 notes.—
ing and selling between July L, 1863, and
July 1, 1865, viz : Upon the profits made
on liquors, agricultural products, cattle or
live stock', manufactures, or merchandize
in gold, exchange, coiu, stocks, bonds,
notes or credits, and on any property’ or
effects (sweeping words).
Are profits on cotton and tcrhacco includ
ed ? We think not, these items being tax
ed as property by section 1.
2.-On the excess of profits over twenty-
five per cent, by any joint stock company,
bank, railroad, factory, &c., during the
year 1863, a tax is levied of twenty-fire
per cent.
These two taxes are payable now.
A like tax with number 2 is levied up
on joint stock companies for 1864, nava-
hle July I, 1865.
Exemptions.
1 For each head of family, 8500; for
each minor child, $100 more, and for each
son in the army or died in the service,
$500 mors.
2. For each soldier’s widow or family of
minors, SI,000.
3. For each syidier iu service or disa
bled. Si,000, provided his property, (riot
including furniture) is less than SI,000.
4. Provision is made for deduction from
value of property injured by the enemy;
or of refugees.
5. Confederate bonds held for miuors or
lunatics are exempt, if the interest is less
than Si,000.
Such are the provisions of the tax act.
We come next to
The Funding Act.
The general effect of this law is to com
pel funding, or submission to heavy taxa
tion.
The holder of currency may be either
an individual, a bank or a State. Section
12 refers to the duties and privileges of a
State holding currency ; section 10 to
those of a hank.
East of the Mississippi.
The individual holder of ordinary Con
federate treasury notes not bearing intei*
est is affected as follows :
1. If he holds $100 bills, lion-interest
bearing, he must fund said notes in four
per cent. Confederate bonds (described
more fully hereafter) before April 1, 1864,
or else pay then a tax of 33^ per cent.,
and on May 1, 1864. another tax of ten
per cent., and so on monthly 10 per cent,
until the bill is absorbed in October. After
April l the said taxes attach to the uotes as
if credits were written thereon. The note
is no longer exchangeable for the new is
sue of currency hereafter described, but
may be exchanged for four per cent, bonds,
after deducting the taxes due.
These provisions necessarily enforce
the funding of $100 bills.
2. The holder of 50’s, 20’s and 10’s must
fund said notes by April 1, 1864, in four
per cent, bonds, or pay 33^ per cent, tax
ation attaching to each bill. He can ex
change the hill so taxed for a new issue of
treasury notes at the rate of $2 of uew for
83 of old hills, or for four per cent, call
certificates, at the same rate payable on
call in the new issue, or four per cent,
! bonds ; he can also pay taxes, postage and
the like at same rates. On Jauuary 1,
1S65 however a tax of one hundred per
cent, is imposed upon all such old bills not
funded or exchanged,
3. The holder of $5 bills must fund or
exchange them in like mauner—the date
of funding, however, being July 1, 1864.
The 100 per cent, tax, payable January
1, 1S65, on bills not funded, does not seem
to apply, however to $5 bill.
4. The holders of bills uuder $5 are not
affected by the funding act. So much for
holders of non-interest bearing notes.
5. Holders of $7.30 notes cannot use
them longer in payment of public dues.
They are converted, by the direct opera
tion of the act, into bonds payable two
years after peace.
6. Holders of call certificates are gov
erned by the same provisions as holders
of the currency into which these were con -
vertable.' If not converted, interest will
be paid on two-thirds of their face, after
April 1, 1864, and they continue converti
ble into Treasuey notes of the new issue
at the rate of $2 of new for $3 of old.;—
Holders of such certificates, uuder the act
March 23d, 1863,can (by section 18) re
ceive the bonds therein provided for.
So much for the duties of holders. The
incidents of the new issue of Treasury
notes are as follows, viz :
1. They are payable two years after
peace aud receivable f5r all public dues
(except export and import duties).
2. They are issued in exchange for old
notes only at the rate of $2 of the new for
$3 of the old bills.
4. To prevent excess of currency here
after, . ..
For $3 of the old bills received in the
Treasury, whether iu exchange for the
new issue or for 4 per cent, bonds on call
certificates, there may he issued from the
Treasury $2 of the new notes. The ag
gregate issue of new notes is, therefore,
peremptorily restricted to two thirds of the
amount of the old. _ .
All former laws authorizing the issue of
treasury notes not repealed.
The incidents of the 4 per cent
are as follows :
1 Not being held Feb. 17, 1S64 they
are not taxed in 1S64. #
2. They are receivabe at their face
without interest, in payment of all gov-
States holding Treasury notes are al
lowed to fund them in six per cent, bonds
by January 1, 1865 ; those received into
the State Treasury prior to April 1, 1S64.
to be funded at par ; those after that date
at $3 of old currency for $2 of bonds.
Hanks holding Confederate Treasury
uotos ou deposite, it seems, are expected
to fund them, it being assumed that they
can pay depositors with the four per cent,
bonds in lieu of currency. A special ar
rangemeut is made by which the depositor
can reconvert the bond into tnonev of the
old issue prior to April 1, 1864/ subject of
course, to the tax of that date. The ob
ject of this provision is to allow to the de
positor the option of funding or paving
33& per cent. tax. Some of the banks
have given notice to their depositors iu ac
cordance with the forgoing provisions.
Ot course, the banks will act in this mat
ter upon the highest legal advice. Mis
take is ruin. For, if it were held by the
courts that the four per cent, stock could
not be paid to unwilling depositors, the
banks have uo other means of payment,
i’bey'can. however, convert their general
deposits, by notice, into special deposits.
They can by notice, cease their agency
for depositors, or require the withdrawal
of their deposits. Which course they will
pursue is a matter of no small moment to
them. To the Government it makes no
difference which party funds the bills—
the hank or the depositor.
The right to issue treasury notes being
withdrawn from the Treasury Department,
it became necessary to provide otliqr
means for the support of the Government.
The law authorizes the Secretary of the
Treasury to issue and negotiate certain
highly privileged bonds, not exceeding
8500,000.000 of long date—30 years or
more—bearing six per cent, interest, pay
able semi annually in January and July ;
not subject to taxation ; secured by a
pledge of all import duties to be hereafter
laid ; and the coupons, with gold, silver,
or oxchauge, to be the only means of pay
ing such duties- These bonds are to be
sold on the best terms practicable for new
issues, or old issues at their reduced val
ue.
Again : The Secretary is authorized,
by consent of contractors, to pay them in
a six per cent, certificates of indebtedness,
uutaxed aud payable two years alter
peace.
The 42d section of the act of May 1,
1863, as to five per cent, call certificates,
is repealed.
Such are the provisions of the funding
act.
Duties of Tax-Payers ami Currency IIol-
ders in order of time.
Before April 1, 1864—Give in profits
of 1S63 on purchase and sale of inerclian
dize, &c., aud pay 10 per cent tax, now
now due.
Corporations give in excess of profits for
1863 over 25 per cent., and pay 25 per
cent, tax now due.
Fund $100 notes—non-interest bear-.
bouds
include call certificates ?
ig rega
represent. It isuotcle..r,
...Animportant question arise*, whether ' ernmeut dues payable in 1864.
■ 18 fax is payable in currency or in kind ? J a. They are payable m $0 years, with
whether five per cent of the actual
!or example, is to be paid 1 We
ri *son bp
10 iheiii annative opinion, for the
realter given.
P°*r moneys held
. MU'' ‘
‘lie r.lao
abroad, five per
iry 17, 18
where the tax is assessed.
., etl{ of their value, February 17, I8(j4> a *
^ Le foregoing taxes are all applicable to
I ear 1$64> alone, and payable, (ex-
} a S ricu Itural property tax,) June
" fuxes on huoms and Profits.
1^:, -^ere are in addition to the taxes of
ten P er c ® ut -* s levied upon al-
interest in January and July. After ibis
year, if taxation continue? high, the debt
thus funded will not he interest bearing
against the government.
4. They are registerrd bonds—not con
pon bonds—and not negotiable by deliv
ery, but only by transfer on the books of
the T*'«*sury Department,
5. Until the bonds are Issued, certifi
cates are given. Provision is made lor
ad vertisement, and for an iuereased num
ber of Depositories.
Mr. Merottuusmr warns the people a
gainst beginning too late; and the rwk «»
being crowded out, in tbe jtechaoical dim
j-» v/a vv u bt iu lu » IVU uj/v . vv»»> g * «
e very specie of profits made by buy* . cuhy of,getting the njoney counted
ing.
Fund 50s, 20s, and 10s, for four per cent,
bonds.
Provide enough of such bonds to pay
taxes due in 1864, and as many more as
you please.
April 1, 1864—Register and pay taxes
on sales and profits under act of 1863.
You can now exchange 50s, 20s, aud 10s,
for new issues.
Before June 1, 1864.—Give in property
tax at value of property in 1S60.
1. Value of land, negroes, (unless bought
since January 1,1862—then give in price
paid for them)—plantation, stock, mules,
horses, cattle, and all live stock, plauta-
tatiou tools aud provisions, and all prop
erty employed in agriculture.
Keep this separate from the other prop
erty, because it is to be paid in the tithe,
or the value of the latter deducted from
the tax.
2. Other property, viz ; real es.tate not
used in agriculture, furniture, books, pro
visions, utensils, cotton, tobacco, &c., &e.,
(But if cotton and tobacco, bought since
January, 1862, value it at the price paid
for it.)
3. Coiu and bullion held in this coun
try, Confederate bonds, (not including the
4 per cent, bonds last authorized)'bank
bills, and other currency, (except non-in
terest bearing Confederate 1 reasury notes,
and except capital or notes, &c., employ
ed in trade, otherwise taxed,) also credits,
uotes, accounts, &c., bonds.
4. Money held abroad, at its market
value in currency.
7. Joint stock, at market value in cur
rency.
6. Plate,jewelry and watches, (10 per
cent tax.)
Merchandize is not given ig,or taxed as
property, tiie income being taxed.
June 1, 1864.—Pay property tax on the
foregoing—except on agricultural proper
ty ; on this pay tithes, from time to time
and the residue, when ascertained, in
money.
Pay gold aud silver coin tax, exchange,
&c., in kind.
Before July 1, 1864, fund $5 bills.
July 1, 1864.—Give in and pay sale or
profit taxes, underact 1SG3 ; commence
payment of tithes, from time to time, as
crops are gathered.
October 1, 1864.—Sales aud profit tax
es again.
Continue to pay tithes.
Januaty It 1865.—*-Sales and profit tax
es again.
Income tax for 1864 now due.
From income exclude house rent, ser
vant hire, interest oil cotes, value of cattle
and beef sold, and any other income de
rived from taxed property.
Salary for 1861.
Give in and extra probt tax levied
by late act, for 1864.
Corporation tax on excess of profits are
2.7 per cent. Corporations pay no other
iucome tax for 1S64. The stockholders
pay the tax on the stock, as property, June
l,-1804.
March 1. 1865—Cotton & Bacon tithes.
Pay residue of agricultural tax 1864.
As the taxes due iu 1864 are payable
in 4 per cent, bonds it is important to kuow
which taxes are due in this year. It is to
be remarked that the tithes of corn are
not so payable. What taxes are 1
J. The whole property tax of every
sort (tithes excepted ; ) the tax on gold
aud silver plate,jewelry, watches, &c, the
tax on joint stock.
Query.—Will the 4 per cent, bonds pay
the taxes on coin, exchange, credits, bonds
and currency ? W r e think not. They are
to he paid iu kind.
2. The extra profit tax of 10 per cent,
on profits of 1863, is now due.
3 The registry and gross sales taxes
for April. July aud October.
But not the income, salary or profession
al taxes for 1864, which are payable Jan
uary 1, 1865.
We will now propose and answer a few
of the most importaut or most perplexing
questions connected with these acts :
1. Wheu is the tax on agricultural
property to be paid. By section 6—on
1st June 1864 or as soon thereafter as
practicable, the whole property tax is to
be paid. By section 1—from the tax on
property employed in agriculture shall be
deducted the value of the tax in kind de
livered therefor, provided that no credit
shall he allowed beyond 5 per cent. We
cannot think this lauguage authorizes the
construction which requires the plauter to
pay the 5 per cent, tax in advance, and
have the values of the tithes refunded
from time to time. The money tax is to
be paid when ascertained. The tax is to
be paid as soon after June 1st as practic
able, “when it is ascertained what deduc
tion” is to be made from the 5 per cent,
tax for the value of the tithe. The other
construction is not supported either’by the
nature of the thing or the lauguage of the
law. The law does not contemplate “re
funding” but “deduction”—not the ad
vancement of more than'one is due, hut
the payment of a residue. And it would
be a most inconvenient and rigorous rule
to require men to raise money, at a time of
the year wheu planters certainly have
nothing to sell, to he refunded by driblets
in the fall.
The law would be alike inconveuient to
tax payers and tax collectors.
Query—Gould a planter pay his estima
ted deficit (viz : between the 5 per cent,
tax and the aggregate value of tithes, sup
posing the latter insufficient.) id advance
in the 4 cent, bonds, or at the close of de
livery—which, for bacon and cotton,
might be in 1865 ? Probably he could.
It is an important fact that the tithes
will be valued in the new and reduced
currency, and therefore not go so far as
might be anticipated, judging from this
year’s valuation. Also, that the 4 per
cent, bonds do not help the tithe.
2. Is the tax upon gold and silver coin,
exchange, &c., to be. paid in kind?.—i. e.,
5 per cent, of the gold itself, &e.
The language seems studiously to imply
this : In other sections of the word “value”
is employed—in reference to gold and
silver coin &c.. the word “amount”—“up
on the amount of gold 5 per cent.—not of
its value—it would seem—but of itself. A
distinction made in the 3d section seems to
favor this view—it being impossible to pay
5 per cent, of the * 1 actual corpus money
held abroad, the tax is levied upon “the
value of such money. The reason seem-
I to support the construction. Why such
discrimination between Foreign exchange
ou the one hand and money held abroad
on the other—as would tax the latter 20
times as high as the former? None evi
dently. They are both taxed alike, botli
in the same section and have like relations.
The gold or exchange here is to 4»e paid
in gold or exchange. The gold abroad is
to paj- tax in Confederate money here on
the value here, while exchange can be
paid in kind. Since the foreign gold it«
sell cannot be reached in kiud the 3d sec
tion of this act seems to have been drawn
with a nice and exact reference to this
distinction.
Query—Will four per cent, bonds pay
these taxes on gold, silver, bullion, ex
change, &c. ?
No—Not if the foregoing view is cor
rect.
’.•The foregoing reasoning applies to cred
its, currency, &c—the “amount” of which,
and not their value is taxed—tliesp, too,
are payable in kind.—It will be a trouble
some matter with some of them for they
are not properly divisable—still the ar
gument seems decisive.
3. If the government prefers that
Treasury notes should be funded rather
than pay the tax of 33J per cent—could
not the mechanical difficulty of counting
in limited time be overcome readily
enough; could not the department issue
notes after the manner of the Express
companies, for packages sealed aud said
to contain so much, to be afterwards open
ed and counted at leisure. If there be a
decided preference for funding as the in
terest of the government, the mechanical
difficulty would seem a pitiful obstacle.
Some other views of the general system -
and Of certain matters of detail will be
presented in another article.
“Sour Grapes.”—A Yankee in
Florida writes thus, by way of consol
ing himself for the terrible thrashing
their army has just received at Ocean
Fond :
Generally speaking the people
through the sparsely populated section
through which our army moved had no
pecuniary interest in the rebellion, yet
all the able bodied men were off in
Confederate armies. Possibly the en
tire Hebei army that confronted- and
fought us at Olustee were Union men,
hut we failed to appreciate their loyalty.
It is my private opinion that Florida
is in the Confederacy ; that there is
little or no sentinaen of Unionism there,
and that the Slate is not worth fighting
for. Poverty, ignorance, filth, Heas
alligators and rebellion encompass the
State from Key West to Georgia, rikI
Irom the bar on the St. John’s to
App^lachee Bay.
Lord Campbell on the American War.
An immense meeting of the friends
of the South was held in Manchester.
England, early in February. Among
other speakers on the occasion was
Lord Campbell. Here are his re
marks :
My Lord, Ladies and Gentlemen—As
it has happened to ine two or three
times in Parliament to reier to the topic
now before you, it is not with a little
satisfaction I observe in the numbers
who Iftive met to-night and in the spir
it they evince some auguiy for the ul
timate adoption and the final tii-
umph of these opinions I have endeav
ored to support. Mr. Spence, under
whoseorders aud instructions 1 have the
honor to address you, has judiciously
explained to me that to-night it was not
necessary to indulge iu argumentative
harangues, because the greater part of
us were of one opinion. After the
long and assiduous discussions which
this topic lias received in the press, in
Parliament, and in public meetings, it
is "ho wonder that nearly al! men should
agiee on certain propositions. We do
see upon certain propositions a remark
able agreement* Few’ deny that the
-cessation of the civil war in question
can only take place when neutral pow
ers have acknowledged the insurgents.
Few deny that acknowledgment ought
not to he anticipated, in the present
stale of Europe and the world, until
great Britain has shown a certain dis
position to initiate or sanction it. Few
deny that in the present state of parties
and of Parliament, the British Govern
ment will noL show the required dispo
sition until public opinion strongly ur
ges and decidedly encourages it.—
This sufficiently illustrates the politi
cal and practical utility of a meeting
like the present. Gentlemen, if ever
agitation was essential on this subject
it is at the present moment, when cer
tain dangers have arrived and certain
circumstances have disclosed them
selves which might, unless properly
examined, tend to inspire doubt and
distrust in the event of Southern inde
pendence. Those dangers and those
circumstances ought not to he, nor in
deed need they he, conived at.
The Southern President has not set us
the example of ignoring or concealing
them. He has not hesitated to 6x the
attention of the world upon the fact
that in the past year unforseen revers
es have been suffered. He has not
scrupled to advert to the events of
Vicksburg and Port Hudson. ' iffie
w hole world, in common with the Con
federacy, deplores the loss of Stone
wall Jackson. All those who are in
terested in the fate of the Confederacy
must have heard with regret and anx
iety that the Democratic party, which
some months ago seemed to augur well
for the cause of peace and separation,
has grown more silent, more subdued
and less effective than it used to he.—
These are undoubtly circumstances of
discouragement, but, as I think, grounds
for agitation and activity. There is
this grand reason, gentlemen, why
these circumstances of discouragement
ought not to he considered motives of
dispondency amongst us—they have
not shaken the Confederacy ;- they
have not quenched the spirit which up
holds it ; they have not chilled the
hopes which it indulges ;"oo the con
trary we have gooj reason to believe
that m spite of the darker picture 1
have pointed to, there never w r as a mo
ment when their discipline was of a
higher character, their armies more
mature, their generals more skilf ul, their
strategy more perfect, their resolution
more undaunted, or their readiness, it
necessary, to take new saegards more
complete.
When they themselves are so un
daunted by realities it would ill become
their friends in Europe to be affected
by a shadow and a reflex, I have
therefore ventured to allude to those
unfavorable circumstances, and also to
show’ why they ought not to he lead to
a diminished hope or a discouraged
spirit upon your part. Gentlemen, if
that he so, if the ends of this associa
tion are legitimate, which 1 have not
ventured to establish, knowing that
such is not a question in this room, it
at the present moment those ends ought
to be pursued with more zeal anti more
activity than ever, it is not irrelevant
or itlle to consider what is the most im
portant and formidable obstacle oppos
ing you. Gentlemen, I cannot help
thinking that the most formidable ob*
stacle, looking to the public mind, look
ing to all that has been said or is said
daily on these questions, is summed up
in the well known term, “slavery.” I
cannot help thinking that if a just opin
ion were established on that subject—
aud ii is your mission to establish and
disseminate it—no lurtlier obstacle
could very long delay the triumph of
your principles. And if 3*011 would
allow me, I would venture—having
given some consideration and reflection
to that point in reference to Parliamen
tary proceedings—=-to suggest ti mode
by which, as i» appears to me, what
3‘uu hold to he the truth might lie brought
home to the convictions of all classes of
society. If it were only thoioughly
explained by this organisation that the
British public has to look merely to
one question, namely, whether of the
two issues in whicFT this war must ter
minate—for I here are hut iw’o—the
separation of the belligerents or the con
quest of thf South by the North will
tend most to the advantage of the ne
gro race? If that w’ere steadily con
templated, if that issue were relieved
and disembarrassed of all the rival is
sues that confuse it, I do not think
there would remain a difference of
opinion in this country*.
No doubt there will al way’s he as
theie has been up to this moment both
h »re and on the other side of ihe Atlan
tic, a difference of opinion as to how
the war o/iginaled, as to the motives
for w’hich it was undertaken, as to the
objects of the South in asserting inde
pendence, and of the Union in waging
war agaiuai secession. These ques
tions are more or less difficult to settle.
But if we fix our minds upon the only’
point it is materia! to weigh namely*,
whether the independence or the subju
gation of the South will really tend
most to that which in this county all
have at heart—the amelioration of the
negro—little difficulty^as it appears
to me, will be found reaching a con
clusion. The history of the world
does much to suggest one. It has gen
erally been found that when in anv
country two races are brought togeth
er, of which one is vastly the superior
in force, in vigor anti intelligence, un
less some knowrn relation exists be
tween those two races, the weaker is
exterminated. Now, should the Con
federacy he subdued, and should re-
conquost* he established over all the
great territory that lies between the
Gulf of Mexico and the Potomac, two
races would be fount! so unequal, so
incompatible, so bereft of the original
relation by which they had been pre
viously cemented, as at least to augur
the extermination and the disappear
ance of the weaker one. But *\ve
not left to the speculations of this char
acter. It happens that this very day,
not many hours ago, a letter in a lead
ing L >ndon newspaper has reached
Manchester from the other side of the
Atlantic, which gives the best and lat
est information on this question. In
that letter it is pointed out in what
manner the invasion by the North has
influenced the prospect and position of
the negro.
As far as I remember, the writer,
speaking from wffiat has fallen, and
that recently under his eyes and expe
rience, gives a four-fold division of
that unhappy class. He points to
those who are the victims of a forcible
.enlistment compelled to take arms, ex
posed to the brunt of battle in a cause
which they detest.and fora people who
despise them. He points to another
class who has gone to the North-west
ern States for employment, and who
have not found it. He points to a third
class, who, in consequence of an infec
tious disorder which attacks them, are
miserably dy’ing in the capital at Wash
ington. He points to another class
who are coerced to labor upon the soil
which has been occupied and ujx>n the
estates which has been confiscated by
Northern plunders s, and whose con
dition. as he joints it to us, is infinite
ly worse than that from which they
have been wrested; for, of freedom they
have gained nothing except the fact
that they are no longer under shelter ;
that they are rro longer cared for ;
that they are introduced to the double
evils of’ resposibility and servitude.—
This is the latest eye-witness who ad
dresses to the public ol Great Britain .
thedaals he has observed. But sup
posing him to he mistaken, supposing
that improvement is attainable, and as
suming that great measures ought not
to he despaired of for the welfare of
the negro—this, at least, gentleman, I
think may be hazarded with safety be
fore any audience who look to the great
principles by which human nature is
controlled and by which the world is
governed, viz : that these measures of
improvement must he loy’al, must be
weli inientioued, must he designed for
the good of the negro, and not tor the
destruction of the planter.-
It has been remarked that Mr. Lin
coln and his colleagues are not men ol
power, genius or capacity , hut if they
were men of power, genius and capac
ity, lbe\’ would not be able to overrule
those gieat laws inherent in the very
nature of affairs, by which the mind ot
a Napoleon would he limited ; it would
not he possible to them, any morq than
it .was possible to him, to make right,
the path of wrong, philanthropy the in
strument©! vengeance, t he liberty ot one
race the forge aud shackles for another.
Such, however, is : he course on which
the Government ot Washington have
recently embaiked—with what ill suc
cess you ma>’ see vividly portiayed in
the letter to which 1 have adverted. I
therefore cannot help thinking, gentle
men, that if this question could only,
b\’ an association such as yours, address
ing itself inttie first place to Manches
ter, alter that to impoitant towns which
surround it, ami so gradually pervad
ing the community—I cannot hut think
that if this question was pot by you on
its proffer basis, viz : W hether South
ern independence is, or is not, lor the
