The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-07-27

On so much Of Mr.. Writings resolution as
relates TO = farther issue Of Treasury Notes BY
the Government. they are OF opinion q At 81
least one hundred millions Of dollars, in addi-
ton to the notes already authorized by law,
may b, simply issued and put ia circulation
bv he Govern ment. They arc persuaded
tina all the citizens OF the Confederacy Will
readily accept them In payment in their mu
uuanimity, will adopt them as the currency oil
the country. AS the resolu tions upon this sub
ject, adopted by the Convention held 1t At
lanta, Georgia, applied necessarily only to
the notes then authorized by law to be iss ued,
they recommend the adoption Of the follow
ing resolution on this subject:
Rrsoloed, That the Banks here represents ted
agree that they will receive in payment and
OF, deposit, and pay out again, the Treasury
notes that may be issued by the GoVernmen',
and they recommend to all such Banks In tne
Confederate States as may not Do represen,eo
in this Con ven ton, to adopt the same Iesoiu-
tioD and communicate their concurrence 10
the Secretary Of the Treasury.
The ohect OF the Government being TO adopt
these notes to perform the luneLohs oi cur
rency the committee are OF opinion that
the notes should bear the same date and
carry the same rate OF Interest II Will De
inn poss,nls for the Tellers OF the Banks and
to use these bills as currency If they varied
in data and in the rate OF interest
If, on the contrary they all bore tue same Date
and the same rate OF interest, they could ot
conveniently counted and the sum ascertainsd
as in TIE case Of Bank notes; for it would br
as easy 10 compute the interest on hundred
bills as on one. No loss would accrue to the
Government, because in paying out the bills
the disbursing officer would be careful to
charge the rsscinder with the interest as well
as with the principal a. the notes. The in
terest should be per cent on every $780,
or at the rate OF } 18th per annum,
That the notes should be redeemable in three
years, at the option Of the Government, and
be receivable in all public dues, except the
export duty on cotton, and be tundable at the
will OF the holder in per cent. stock or
bonds. Notes of the donOm nations of 81
$40, $50, in the opinion of the COMMITTEES
ought not to bear any in terest. These would
more appropriately perform the functions
OF currency, and they ale of the opinion
that the larger notes, such as 40 and 500
would be largely taken up by Il Glass OF our
citizens who are not in the practice of max
ing such Investments. These notes would
pas5 ito their hands III the course of bust
ness, and they would very soon discover
the advantage as s7ell as the merit of thus
contributing their aid III support of the Gov
eminent of their choice and of affections
Tns committee gave also i respectful consid
GRAFTON to the plan submitted by Mr.. Holmes,
for the al Justment and final extiEguishment
of the pubic debt but, without in any way
impeaching its ACKNOWLEDGEMENTS, they de
cided not 10 express any opinion as 10 the ex-
pediency OF its adoption by the Government,
for whose purposes its adoption could be beat
determined, in their opinion by the Secretary
of the Treasury. All of which ia respectfully
submitted, q. A. TaEsHoLM, Chm.
Richmond, j uly 20, 1861.