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To: Jeff Jordan who wrote (248747)	7/7/2003 9:54:16 PM
From: Jeff Jordan	Respond to of 436258

God Bless Buddy Epsen..... The condition of the Treasury will doubtless be a subject of anxious inquiry on your part. I am happy to say that the financial system already adopted has worked well so far, and promises good results for the future. To the extent that Treasury notes may be issued the Government is enabled to borrow money without interest and thus facilitate the conduct of the war. This extent is measured by the portion of the field of circulation which these notes can be made to occupy. The proportion of the field thus occupied depends again upon the amount of the debts for which they are receivable; and when dues not only to the Confederate and State Governments, but also to corporations and individuals, are payable in this medium, a large amount of it may be circulated at par. There is every reason to believe that the Confederate Treasury note is fast becoming such a medium. The provision that these notes shall be convertible into Confederate Stock bearing eight per cent interest at the pleasure of the holder ensures them against a depreciation below the value of that stock, and no considerable fall in that value need be feared so long as the interest interest shall be punctually paid. The punctual payment of this interest has been secured by the act passed by you at the last session, imposing such a rate of taxation as must provide sufficient means for that purpose. For the successful prosecution of this war it is indespensable that the means of transporting troops and military supplies be furnished as far as possible in such manner as not to interrupt the commercial intercourse between our people, nor place a check on their productive energies. To this end the means of transportation from one section of our country to the other must be carefully guarded and improved. And this should be the object of anxious care on the part of State and Confederate Governments so far as they may have power over the subject. -=-=- While the war which is waged to take from us the right of self-government can never attain that end, it remains to be seen how far it may work a revolution in the industrial system of the world, which may carry carry suffering to other lands <-contemporaneously with-> /as well as to/ our own. In the meantime we shall continue this struggle in humble dependence upon Providence from whose searching scrutiny we cannot conceal the secrets of our hearts, and to whose rule we confidently submit our destinies. For the rest we shall depend upon ourselves - Liberty is always won where there exists the unconquerable will to be free, and we have reason to know the strength that is given by a conscious sense, not only of the magnitude, but of the righeousness of our cause. Jefferson Davis. -=-=- Granny says the South will rise again, Hallelujah Glory, Glory Hallelujah