Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1862-05-10
War en- the Confederate Currency.

From The Augusta ConsatudonalistI Il
He whs seeks 10 9epreciate the notes issued
by the Confederate government IS q public enc
my, and should at least be watched with gus
piciOn, if not punished IS 2 criminal. The credit
of 3 government with its own people is 81 vital
to its liberty as the strength Of it, armies To
stop the one is Us fatal 70 the public welfare a.
to defeat the other. No man who deliberately
does an act among US, the effect Of winch Is to
impair public confidence IL the issues Of the
government, and thereby in its ability 20 meet
fully at the end Of the war all ls financial en-
gagements, can De viewed in any other light
than as dissfscted to its cause, OF Rs 30 utterly
dead to the instincts Of patriotism as . be- VIII
ling t. increase its embarrassment IL order t.
make money out OF them.
Il should be the pleasure, - Il IS tbs duty, OF
every loyal son OF the South, 10 Strengthen the
financial arm of the government He should BY
no act or word DO or say what may tend in any
degree to induce the timId, or the cTedulousr 70
lose confidence IN the currency which Is the very
life blood of the Southern COnfedeTaCy. With
out faith on our part in that currency, the work
of subiugaGOn would be easy Indeed, it might
be pronounced as already half accomplished.
For without that faith the armies cannot be
clothed and fed-amnunitiOn and the munitions
Of war cannot be obtsined-the troops cannot be
transp6rted-snd the sick and weunded cannot
HS HhDpLC4 Ill AAluPAN2A9 AAA AO9RAfaA NAGG
These remarks are suggested by the inf0Tmz-
ton that contracts have been made and srs be-
ing carried out in this city, payable only in
bank notes. One notable instance is especially
brought to our attention, and we desire to afiX
upon it promptly the stamp of public repToba-
ti0g A sale Of g gold mine tract in LUmpkjn
county to q company, some Of whom are located
in this community, has been effected, on the
condition that the payment shall be made IN
bank notes. Now, it is well known that the
banks have yielded The field of circulation TO the
Confederate government. They were unwilling
to come in competition with it in this respect, Of
the hazard Of creating determinations and con
fictS of currency. But these trades and con
tracts specifying bank notes as the preferred cur
rsncy is doing exactly what the banks desired to
avoid, and what it is al important to the public
welfare should be avoided. @
Many no doubt have in their business tIsnsac-
tions acted mconsiderately only, They have
made a distinction between Confederate currency
and bank ~eurrencyfFem no deliberate motive to
injure the public credit. They have either yielded
to the weakness of their own timid minds, OK
have respected, instead of rebuking, the timidity
Of others, and thus leyeled q blow at the public
credit.
L is not less true u matters Of finance, than
of warfare, that fear "bstrays like treason"
For this reason W desire thus openly to caution
the weak as well as the vicious, that assaults
upon the credit Of the governments deserve to be
as strongly rebuked as firing into. the ranks OF
our soldiers, or undermining our Qualifications
In these days of expensive warfare, the power Of
the purse is not less important than that of the
Indeed, if the financial arm becomes weaken
ed, whether by the secret intrigues Of enemies
in our midst, or the ~unmsnly fears Of the weak
capitalists, the military arm becomes
p~arslyzed. But If the people remain true to the
government, and cherish an abiding faith in the
ultimate triumph OF our cause rhe government
tripy armed-its means are as bound
as the resources Of the entire COnfederscy-
and its triumph as certain as that day succeeds