The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1862-12-02
From the Richmond Enquirer.
CONFEDERATE FINANCES.

| S0NT SAGhAIE F1NANCES.
The subject of the currency is the great ques-
tion of the day, and is receiving much attention
and comment. In order :bat the subject may be
. intelligently answered, and to correct many mis-
apprehensons and exaggerations, we present below
some facts which may be accepted as correct.
The debt of the Government at this time may
be thus stated We use round numbers for con.
| venience, taking the nearest million:
Treasury Notes, currency, S250,000O00
" q" interest bearing S0,000,O00
Call Loan, 10000 600
Funded cebt, $4,000 900
Total, $464,000,000
These figures, both 40 to currency, and the
| amount Of the public debt are much smaller than
| is generally understood.
The amount Of currency in the Confederate
States prior to separation, was something upwards
Of eighty millions. Much of our business was,
| however, done through the North, which being
allowed for our former circulation, may be stated
at hundred millions.
The consequences Of the war have increased
| the amount of currency, which our circulation
| will bear with safety. The sale OF the stocks Of
goods on hand, has placed money in the hands of
merchants, which is often held tor the opportun-
ties of operating again. The destruction of ex.
changes, which requires the moving Of money
increases the demand for quantity. These things
considered and estimated for, perhaps one hundred
and fifty millions may be assumed as the amount
of currency which circulation will bear with.
out plethora.
Our circulation, as above stated, is two hun.
dred and fifty millions-the interest bearing notes
being of the nature of funded debt. We are,
therefore, hundred millions above the limit OF
wealth Our business is to come down tosjt and
the best means of doing it, and keeping it down,
is the public. 1t would at once be done, if the
holders Of hundred millions Of currency would
invest it in bonds. 1t will have to be done by
this converion, effected by some process, direct
or indirect The Government is obliged to have
means, and it is obliged to obtain them from our
own people 1t is our interest as we'll as our duty
to furnish them readily.
We adopt the following from the "Whig" OF
Friday:
"With, or without the stimulus intended by the
legisat ion of Congress, We hold it to be the duiy
of every good and loyal citizen who has moro
money in his possession than he has actual for
to invest large proportion of it in Confederate
bonds. 1t is in vain for any man to prate about
his patriotism his loyalty, unless he practically
manifests his Willingness to sustain the Govern
ment in one Of its most important departments
the financial. If everybody would refuse to buy
Confederate bonds, cur efforts to establish the in.
dependence Of the Confederacy would be unavail.
ing, If everybody who can, would invest literally
in these bonds, would be rendered tho
more certain, the fell spirit of speculation would
recede to more reasonable level. The Govern.
ment would then be able to make its purchases at
lower rates, and, consequently, at the end of tho
war the public debt would be lighter. The tax
to pay the interest of this debt must chiefly fall
upon the class able to buy Confederate bonds,
and If thav mi. tba -
tion which they will be required to pay hereafter,
let them do what they can noa towards keeping
down the public debt in the manner we have indi-
Gated. Every consideration of patriotism, as well
of selfnterest, iuvokes them to the performance
Of this duty. .a.