Congress adjourned without adopting any plan to reduce the currency, deeming it hopeless, since the discovery of a deficiency, in Mr. Memminger’s accounts, of $400,000,000! So the depreciation will go on, since the collection of taxes is rendered quite impracticable by the operations of the enemy. Yet buying and selling, for what they call “dollars,” are still extensively indulged; and although the insecurity of slave property is so manifest, yet a negro man will bring $10,000 at auction. This, however, is only equivalent to about $100. Land, when the price is reduced to the gold standard, is similarly diminished in price.
March 23d.—Clear, with high wind. Nothing further from North Carolina. A dispatch from Gen. Lee states that he has directed Gen. Cobb to organize an expedition into Tennessee, to cut the enemy’s communications. Gen. Wafford, of Kentucky, is in Georgia, with 2000 mounted men, etc.
Beef in market this morning sold at $12 to $15 per pound; bacon at $20, and butter at $20.
The parade of a few companies of negro troops yesterday was rather a ridiculous affair. The owners are opposed to it.
Gen. Rains sends in an indorsement, alleging that owing to the deception of Quartermaster Rhett (not furnishing transportation), he failed to arrest the approach of the enemy on a narrow causeway; and Columbia, S. C., and his shells, etc. fell into the hands of the enemy.
A dispatch from Lee states that Gen. Thomas is at Knoxville, and that the enemy has commenced his advance from that direction—is repairing railroads, etc. The same dispatch says Gen. J. E. Johnston is removing his wounded to Smithsville from Bentonville; that the intrenchments of the enemy and greatly superior numbers of Sherman render further offensive operations impracticable.
Grant’s grand combination is now developed. Sherman from the Southwest, 70,000; Grant himself from the South, 70,000; Thomas, from the West, 40,000; and Sheridan, with 15,000 cavalry from the North—some 200,000 men converging toward this point. To defend it we shall have 120,000 men, without provisions, and, without some speedy successes, no communications with the regions of supply or transportation! Now is coming the time for the exercise of great generalship!
Gen. Early has been sent to the West—Tennessee.
March 24th.—Clear and very windy. The fear of utter famine is now assuming form. Those who have the means are laying up stores for the day of siege,—I mean a closer and more rigorous siege,—when all communications with the country shall cease; and this makes the commodities scarcer and the prices higher. There is a project on foot to send away some thousands of useless consumers; but how it is to be effected by the city authorities, and where they will be sent to, are questions I have not heard answered. The population of the city is not less than 100,000, and the markets cannot subsist 70,000. Then there is the army in the vicinity, which must be fed. I suppose the poultry and the sheep will be eaten, and something like a pro rata distribution of flour and meal ordered.
There is a rumor of a great victory by Gen. Johnston in North Carolina, the taking of 4500 prisoners, 70 guns, etc.—merely a rumor, I am sure. On the contrary, I apprehend that we shall soon have news of the capture of Raleigh by Sherman. Should this be our fate, we shall soon have three or four different armies encompassing us!