Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1862-06-11

Notes o. &c. Treasury Notes.
A sound oarrency in aay country, and especially
in young Republic like ours, engaged in mortal
conflict With powerful enemy is its backbone.
The man who would break or bend it. from what
ever motive, cannot BE true friend to the prosperl-
ty and success Of our Cause But soundness is more
especially important to the currency in which our
soldiers receive temeasre pay, for the sacr'nce
health, limb or life
The person. therefore who, by any act' oepreclates
the value Of the Confederate currency, is guiey Oh
great wrong to the cause But VINO does tnlss-
Certain shallow Drained persons are blatant in their
denunc;ations of the few individuals who have re-
fused to receive Confederate notes in large amounts
in n.vmeut for property or debts The slang is,
"tbev o,eht to be ARRESTED -" they ought to be
t,ken in Rand by the vigilance committee or the
Provost Marshall they ought to be shot
"tbev ought to be hung" Now, would the reader
think it strange, that the very persons who are most
guilty of Gepreciatiug Confederate currency, are
loudest in these denuncat,ons, except it be few
fire eating editors, who never have any money to
trade upon?
convertible into gold and silver, universally depre-
ciates its values but long as Confederate notes
will buy what the people need and so long as they
are receivable for State or Confederate taxes so
long as the Confederate Treasury will exchange
them for Confederate bonds at or 8 per cent, so
long they ought to be fully equal to any other cur
rency among US Those persons, therefore, who
49,: ,1oto in
ticular locality responsible to degree for their
depreciation Or the doubt which may arise as to
their value
But the direct cause of any apparent dcprecla
ton in the value of Confederate notes or bonds at
present. originates with the bulls and the bears
the "money changers" of the country, who, in or
der to create business which the war had well
nigh destroyed have determined that the N u
Treasury notes bonds are better than Confederate
notes or bonds The reader will see this exe,npli-
fled by referring to Richmond paper and compar-
inc 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 pernsa-
nent investments But in order to obtain them
North Carolina fundable Treasury notes must be
procured. Recently they have, all of a sudden, be-
come very scarce In 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 high premium for the pur.
chase of N. c. Treasury 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
in stocks and currency.
A recent correspondence in the Standard, dis
closes the fact which was not generally known be
fore, that high fnencial public officer of the Wal
Department Of this State from motives of sheer
courtesy to his friends, has been contributing large
" to this excessive expansion of Confederate note
and the consequent contraction of N. c. Treasury
notes from circulation by exchanging to "a larg
amount" II. c. fundable Treasury notes, worth from
to per cent, for Confederate notes, at zoe,
suap Perhaps the officer really thought by thi
operation he was cheating the value of Confederate
notes. Few, perhaps, thought him quite so oerdan
before. respectable Captain of our Troops, whit
is Irresponsible" AYERS that he has exchanged witt
him "a large amount aoithout has demanding
cent PREMIUM! Generous friend! But is it strict
" true that the officer made nothing by the opera
ton, for himself? Then he ought to have mad
something for the State Treasury. But plain pee
pie will believe that what man does for his frtend
he does for himself. He received not cent pre-
MUM he alleges but does not every one see that b
his large par exchanges he contributes to the exces
of Confederate notes in circulation here thus depr.
eating them, and to the scarcity of the n G. Ire;
ury notes; and in so far as N. c. Treasury note
are better than Confederate notes, he damages tn
State Treasury to that extent? Moreover, every on
knows that it subjects the poor soldier and othe,
to inconvenience and often to loss in converting hi
20 or 80 dollar Confederate note into small chang
In some instances We have heard that hard hearte
persons have demanded 10 per cent premium
the soldiers for small change
But the officers friend, the Captain, contends tn:
Confederate notes are better than State Treasur
notes. We rejoice at this information. But if 81
why did not the Captain use his Confederate note
to effect his investment? If So why did he not il
vest in Confederate or per cent. stocks? VIII
did he prefer to invest in N. G. stocks when it pr
him to the trouble Of procuring N. C. fundab
Treasury notes? Why did he not go to broke
instead of to his friend, public officer of the W.
Department, to procure the N G. Treasury notes
Would they not have cost him premium if o.
tanned from broker? Why? Was it because Coz
federate notes are better than N c. Treasury notes
Perhaps broker would have given him premiu
for his Confederate notes-certainly he would
they are better. But he had generous friend wi
would exchage with him ecen soap N. c. Treasul
notes for Confederate notes, with which he cou
purchase N. G. bonds at par, which were then ST
ling in Richmond at lis to 1870! Generous frient
Would the Public Treasurer of North Carolil
be guilty Of such 6nanceering as that? Every boo
knows better. When that officer effected an e
change for Confederate notes to paw the State