Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1862-11-05
The Currency.

The State Legislatures WILL, we De-
lieve, all be in session this winter, and
will thus have an Opportunity of acting
concurrently upon any matter falling
within their Jurisdiction, involving the
general veal, and on which they could
judiciously or usefully take action
We do not conceive it wise or safe to
leave everything relating to the war to
the legislation Of Congress and the dis
cretion of the Executive. In the early
stages of the contest the power Of the
States was brought to bear with the
most telling effect. The armies first
brought into the field were raised and
equipped almost wholly by the States.
But we would not recommend legisla-
ton by them now on matters purely
military, lest conflicts in policy and col
lisions Of authority might result.
The most important and be6tting
subject for their consideration is the
currency. It has been suggested that
the States should give their individual
endorsements to the notes of the Con-
federate Government, pledging their
faith and means to the redemption of
these issues. But as it is not believed
that the depreciation in currency has
grown out Of any want Of confidence in
the Confederate Government, it may
be we'll doubted whether such endorse
ment is needed or would prove ofprac-
tical benefit. AS this depreciation re-
suits almost solely from superabundance
of circulation, a wiser policy would be
the adoption of measures calculated to
reduce and restrain such excess. A
contemporary suggests, as one fruitful
source of mischief, the food of shinplas-
ters by which the country is inundated.
Measures, it says, should be adopted
for excluding from circulation every
thing but Confederate Treasury notes.
The country is flooded with shinplasters
of every denomination and of. every
description. They amount to serious
evil, the worst effects of which we have
not yet realized and this consideration,
of itself, would be a sufficient reason
for their suppression; but it-becomes
absolutely important in view of the
large amount which they add to our
already redundant currency. We have
no idea what amount of these shinplas-
ters are ahoat in the Confederacy, but
there is scarcely village or cross-road
in the country, from which they are not
issued, and of all denominations, from
five cents to five dollars. This evil
should be corrected at once. The Con-
federate Treasury is issuing one and
two dollar bills, and no other person
or corporation in the country should be
permitted to issue bills of that size. To
meet the necessities for change, the
banks of the country should be requir-
ed to issue change bills from five to
fifty cents, and the issue of these should
not be allowed to exceed certain per
cent. of their capital.
In the next place the banks should
be required to receive Confederate
Treasury notes on deposit at par, under
penalty of forfeiting their charters,
and depositors should also be compelled
to receive them at the same rates, or
lose their deposits. Stringent laws
should also be passed by which the in
terest on all money demands, held eth
er by individuals or corporations, should
be stopped from the date at which a
tender of payment was made in Con-
federate Treasury notes. We believe
some such legislation as that suggested
above is demanded, and we hope to see
the subject engage the attention of our
State Legislatures.-Rschmond Wing.
SE1zUREs.-Nearly all the shoes in
the city were seized yesterday by order
of Gen. Bragg to supply the barefoot
soldiers in his army.
| W. 1oorn +bo+ M PonLo' loroo ohoo