Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1862-06-11
.co.aasra,e Note. ,.. n. c. Tteasasy Notes.

sound currency u any Souues5s - '-51.e.-.l.f,
in young Republic Ike ours engaged IN lno.s~1
conflict With a powerful enemy IS ITS pohe-
sFbe man Who woald break or bend u nom Fue rue.
ever motive csnaot BE true friend TO the prosper
- "a s,,ccessof our cause ButsUhhdasss IS more
.,.r...,lv ,r.ortant to the curreaey in which our
soldiers receive their neagre pay FOR the sacrnce OF
health, limb or hfe s&
The person, therefore who by any act, depreciates
the value Of the Confederate currency is guilty OF
great wrong to the cause. But who does thlsr-
Certan shallow Drained persons are blatant In their
Ss,pnciations of the few individuals who have re-
sed 70 receive Confederate notes in largeamounts,
in payment for property or debts. The slang IS
<thev ought to be ARRESTED "" they ought to be
raken in hand by the vigilance committee or the
Provost Marshall they ought to be shot" =
~tbev ought to be hung" Now, would the reader
xbink it strange that the very persons who are most
quty of depreciating Confederate currency, IRE
sou5est in these denunciatons, except il be few
fire eating editors, who never have any money to
trade uponl
An excess of paper currency not Immediately
convertible into gold and silver, universally depre-
cistes its value; but SO long as Confederate notes
viii buy what the people need, aud so long as they
are receivable for State Confederate taxes or SO
dong as the Confederate Treasury will exchange
them fer Confederate bonds at or 8 per cent, so
long they ought to be fully equal to any other cur
rency ameag us Those persons, therefore, who
ocr,rbeSe to this excessive circulation in any par
tcuar locality are responsible to degree for their
depreoiasisR or the doubt which may arise as to
their value 1850.
But the direct cause of any apparent deprecia-
ton in the value of Confederate notes or bonds at
nresent originates with the balls and the bears
the +meney changers of the country, who, in or
der to create a business which the war had well
nigh destroyed, have determined that the N. G.
Treasury notes or bonds better than Confederate
notes OF bonds The reader will see this exernpli-
fed by referring to Richmond paper and compar-
inr North Carolina stocks with the stocks of other
States and Of the Confederacy
North. Carolina bonds are, therefore, more sought
after thar any others by those who desire perna-
nent Investments But in order to obtain them
North.6a7oliaa fundabe Treasury notes must be
procured Recently they have, all of a sudden, be-
come very scarce this vicinity, but in lieu of them
Confederate notes have become excessively plenty.
From this fact we infer that sharp traffic has been
carried on recently with Richmond and other points,
by which operation North Carolina Treasury notes
have disappeared at a high premium for the pur-
chase of N c. Treasury 6 or per cent bonds, and
Confederate notes have taken their place Nor have
brokers or "money changers" alone been active in
this traffic 1t is their legitimate business to trade
ia stocks and currency.
recent correspondence in the STANDARD, dis
closes the fact which was not generally known be-
fore, that high fnencial public officer of the War
Department of this State, from motives Of sheer
courtesy to his friends has been contributing large
ly to this excessive expansion of Confederate notes
and the consequent contraction Of N. G. Treasury
notes from circulation, by exchanging to "a large
amount" H. c. fundable Treasury notes, worth from
to 6 per cent, for Confederate notes, at eUen
Supp Perhaps the officer really thought by this
operation he was eeOatins the value of Confederate
notes. Few, perhaps, thought him quite so Usrdant
before. A respectable Captain of our Troops, who
is responsible" AYERS that he has exchanged with
him "a large amount" Dithout his demanding a
cent prsmiumi Generous friendl But is it strict
ly true that the officer made nothing by the opera
ton, for himself Then he ought to have made
something for the State Treasury. But plain PEG.
pie will believe that what does for his friends
he does for kimself. He received not cent pre-
MUM he alleges but does not every see that by
his large par exchanges he contributes to the
of Confederate notes circulation here thus depre-
eating Them and to the scarcity of the N. c. Trea-
ury notes; and in so far as N. G. Treasury notes
are better than Confederate notes, he damages the
State Treasury to that extent? Moreover, every one
knows that it subjects the poor soldier and Others
to inconvenience and often to loss in converting bis
90 or 80 dollar Confederate note into small change
In some instances we have heard that hardh hearted
persons have demanded 10 per cent premium Of
the soldiers for small change.
But the officers friend, the Captain, contends that
Confederate notes are better than State Treasury
notes. We rejoice at this information But if so,
why did not the Captain use his Confederate notes
to effect his investment? If so, why did be not in
vest in Confederate or 8 per cent stocks? Why
did he prefer to invest in n c. stocks, when it put
him to the trouble of procuring N. c. fundable
Treasury notes? Why did he not go to broker
instead of to his friend public officer of the War
Department. to procure the N C, Treasury notes
Would they not have cost him premium if OBJ.
tanned from broker? Why? Was it because Con-
federate notes are better than n c. Treasury notes
Perhaps broker would have given him premium
for his Confederate notes-certainly he would il
they are better. But he had generous friend who
would exchage with him epen ssoap N. G. Treasury
notes for Confederate notes, with which he could
purchase N. C. bonds at par, which were then sell
ling in Richmond at 115 to 100! Generous friend
Would the Public Treasurer Of North Carolina