New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-09-20
PsocInmation by tho governor.

The vile and patriotic determination the planters Of the
Confederate seIino cotton until the blockade
raised deprived Government resources
otherwise command from tho disposition Of great
stape To supply the for carrying war waged
against us by the United States the Confederate Government
like Governments uIaier like circumstances has
forced its credit which credit unen the wealth
Of the people Of the Confederate States. .-....
The Government has iucosy determined 10 issue ore hl
bred millions Of Treasury Notes secured by direct upou
the property Of the people, and the redemption
certain the property they All the banks of the
Confederate States except those Of New Oas and Mobile
these Treasury Notes them
and them out to their creditors thus establishing currency
real value which all the wants the public
that banks might be enabled to conduct their
make the Treasury Notes currency they have
obliged suspend specie payments because unless
the banks receive the Treasury Notes. these
could taken By them in payment would hhs
answer the Purposes of currency, M..- H. .
The Banks Of Lousna however, forbidden suspend
specie and Legislature unlike that Of the other
States without constitutional right egaze suspension
As Treasury Notes mist be below hence crc
cuae like bank while the Banks pay specie,
one results follow Banks will be obliged to
redeem sill their notes and all their depositer CON-
then be utterly lie to increase their leans they will have
suspend If the Banks refuse Treasury Notes
continue pay out coin the tire planting interest
STATE dependent upon the ability The commission merchants
facilities the Banks to furnish plant
with their usual supplies will hs deprived of
souey necessary the expenses of the year.
while the Treasury Notes would subject constant denEe
caon and the credit Of the Confederate Government seriously
impaired thereby To prevent consequences will prove
disastrous the whole people, recommend to the several
Banks New Orleans Immediately to suspend specie pay
ment. ,.s
recommending this the Banks am well aware
that they the risk Of forfeiture charters
which neither the Legislature the relieve
| them.
whoe subject to the people
of the State such time their wisdom they may
proper and the people, in Convention assembled viii
whether the forfeiture of their charters by the shall be
e4acted or relinquished IS
The Banks in to pay all their liabilities as
Rapidly they be presented their counters and
outstanding the Suspension specie payments hereby
mended they maintain position strong when
period for resumption arrives they will embarrassed
Inconvenience by paying every dollar in coin.
AS the spirit of the Constitution and the laws of this State
regulating the Banking System regards the
creditor first to be protected additional restriction pro-
which looks directly to his interest order therefore,
to the prompt redemption of the circulation the banks
preserve their present mpregnabe
sumption of specie shall be deemed advisable the
| banks will observe the following regulations:
LIST. The circulation Of the chartered banks-tat is the
Canal Citizens Bank of Louisiana the Louisiana State
Baik-shal exceed the actually held by
them respectively and the circulation of The
be restricted the amount OF bonds present deposited
Auditor Of the Slate, and in with existing laws
ID The suspension of specie payments not interfere
with the weekly and monthly returns the Currency
with the fundamental rules governing Banks in op-
| position TO the recommendation herein made
3D. The Banks will receive deposit payment of debts
them the Of the Confederate America
| pay them out at their counters
18th The usual week statements through
Board of Currency and all balances paid in Conedeaes
| Or in cJin THOS. 0. MOORE,
| sel6 2p3t