Browsing named entities in The Daily Dispatch: October 17, 1861., [Electronic resource]. You can also browse the collection for De Bow or search for De Bow in all documents.
Your search returned 1 result in 1 document section:
[written for a forthcoming number of De Bow's Review.]borrowing at home and borrowing abroad — the cotton loan.by George Fitzhugh. If to carry on the war we were to borrow in England two hundred and fifty millions of dollars, at the proposed rate of interest, principal redeemable in sixty years, we should in that time pay to our English creditors, in way of interest, more than one thousand millions of dollars; besides paying back the principal. One thousand millions of dollars would thus be transferred from our Confederacy to England. We should be that much the poorer, and England that much the wealthier, by the operation. If we borrow that amount from our own citizens, we should save in sixty years one thousand millions, and the nation in the aggregate be not one cent the loser or the poorer for the loan. All interest is but taxation. In the first case the tax collected would go to foreigners and reduce to that amount our national wealth; in the latter case, it woul