American citizen. [volume] (Canton, Miss.) 1851-1863, 1862-05-23
/. COTTON MONEY.


ed for their redemption. 1t is notable
fact, that while the State of Mississippi
has taken more pains to- place her cur
rency upon sound and firm basis, than
any other State in the UonfedSlaey, her
issues do not pass as readily among a
few of her own people as those of other
States with less than haKthe Guarantees
for their ultimate redemption. So much,
says the sharper, for. her liquidation.
But it must be remembered" tlfat Missis-
sippi's reputation was. from principle,
not from unwillingness 80 pay her ust
debts /; and inasmuch as she has been
stigmatized as sepudiatoT, she will.
from the very nature of things, be more
careful hereafter not to give any just
ground for such SANDER. Hence her
pretended Reputation. if it has any eff
feet at all, will tend to render more Sc
cure the currency she is now. putting out.
The ground that some of our business
men have justified their refusal to take
these notes upon, is that they can't be
used at par in New Orleans in the pur-
chase of goods. We notice, however
that dealers IN Memphis have advertised
their willingness to receive them at par,
and since New Orleans is ept off from US.
this excuse is wholly untenable.
Again, we have heard it urged BIZ
some that the cotton notes being based
upon cotton, the security fails when il
becomes necessary to burn the cotton to
keep it out of the hands of the enemy.
This is not true in any case. The notes
are secured not only by pledge upon
the cotton at FIVE cents per pound, but
by undoubted personal security approved
by the Probate Judge of the county in
which the person lives. And in the
event that it should become necessary to
burn any portion of the cotton pledged
for the redemption of these notes, the
Confederate States is bound by law to
pay for it thus rendering these notes as
good, in all respects, as those of the
Confederacy.
We think the excuses made for at
tempting to createSa.want of confidence
in the "cotton none are not only I'M
sound. but in many instances. unpatriot-
ic. There never was better basis for any
currency. The banks can issue three
dollars to one, and yet never suffer any
suspicion. but. it seems, Mississippi can
not be fully relied upon when she revers
IS the proportion and issues one to three.
Cotton is worth from ten to twenty
cents, if ii is worth any thing, and if it is
not worth any thing, then are not your
ands, negroes, houses, stock, and all
hat you have, not worth any thing.
We hope our farmers will not suffer /
to discount this for any 9TH /
n currency, solely for the sake of benefit
ng spectators who have made it their
business to depreciate it.
The public well remembers that the
anne game, on larger and holder scale,
vas played about year ago upon the
Treasury notes bearing ten
yer cent interest. AS soon as they were
ssued sharpers set their heads to work
o put them down to a very heavy de-
,reciation, and they succeeded well, too.
The notes fell, in some cases, as low as
hirty and forty per cent discount; at the
anne time the sharpers were storing them
way until the taxes had to be paid.
hen these notes sprung up, at one re-
ound, to thirty or forty per cent pre-
mum.
This is the way the spectators man
ge the currency, to the detriment of the
onest farmer and the patriotic soldier.
heir days, however, are numbered, if
hey do not mend their ways. Verify
hey shall have their reward.
The time is near at hand when the
confederate war tax must be paid. We
are say the spectators will endeavor to
vail themselves of the occasion TO push
p Confederate notes to high premium, S
nd compel farmers, who have no mon Z
Y of that kind, to pay it, in order to en- i
Die them to meet their obligations to the C
Overnment. This done, and when the
tate taxes fall due. then will they hold :
lie cotton money" at corresponding :.
remium. Just at this time you may step :
to the stores of some of these amiable
I'd smiling gentry, buy an article worth
x bits, hand him Confederate note of n
e denomination of $50, $50 or 500 to e
pay for it, and he is almost certain to Il
and you back the change in cotton "
oney unless you object to it. This is K
- x,,nnopnls1a e. / u