The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1862-12-18
states Guaranteeing >enfederate Bonds.

Tho telegraph Monday a0uounoed that the
Legislature OF South Carolina has unanimously
pledged ho faith and funds CT that State to the
REDEMPTION Ct is quota Of the Confederate debt
The following IL ths report upon which tbs bill
pased was based
The COMMITTEES Of Ways aud Means to which
was referred the fsso1tisn % inquire Into the
psdiency of Offering to the Confederate Govern.
nent to guarantee its bonds for tie prcportionate
share Of the Stale of South Carolina, according
70 the basis of the late war tax II the amount OF
one hundred millions of dsllars beg leave respect
fuly TO report unanimously that thsy hsve had the
same under confederation, and Egree In tie pyinci
pie Of the resolution bat propose that the amount
be changed from ons hundred to two hundred mil
dons Of doliars.
The large snd Increasing osculatisu OF Confede
rate Treasury notes demands remedy. The
Aaoun. already In Gil ciston Ia r1ucb greater tnan
evea IL time cf "a il necessary lcr ouS Internal
and foreign commr rrca. La the present state OF
Affairs emailer srnount IL needed ;hsa isthen. Tie
consequence Is that cur citizens and 03Ternmeot
lAve 70 give prizes 50 greatly enhanced az 70 pc
matter OF great dstriment TO tho puolc. Our inci.
vid1A citizsns are already snfferius greatly; and
sae 63ve:ameLt rot only sunora Win them now,
lot ss under the further liability Of having 10 give
w. obligations =. the cufrent prices IN sscurisies
which must dnAily be redeemed IN gold and silver.
Attempts have teen made by ihe Confederate
government ts reduce this circulation by funding
Portions Of it In Confederate bonds. The extent.
however, TO which thess have been taken has. from
various ressonf. been very iimiteo. portion OF
zoe hundred million lean yet remains TO Do Issued.
Tnis arises from the want ct ability 10 tske tt
up on the part Of cur citizens. ~ 10 read
y seen FROM the large surplus CT circulation
ssovs referred TO. More than TINS, ether aecuri'
nss, and especially those Of tho ssates paying =
!s"ss rate Of ir.cress, are extsnstvely sought 81
'sf, ana are bringing high premiums. Tho oeJacs
sais endorge1ent wopla be, 50 lar a. tno ot8to
q South caroins IL cotlerneJ, 70 give the Govern
nent al the advantages to be obta.esd by uniting
slate security to that offered by the General Gov
sfamsnt. II u hoped that tho other States Of ths
Sonssderaey will unite With in 20 dOiug; but te
u emnsatly proper that South Carolina should
As the Lead 10 this kind Of expression Of full con.
Sasuee In the anal success Of our GoveEnmsnt.-
tst proper, N go doing, that she should secure
f nsrss and her citisens, and not fer them alone,
po' tor Ill other States and their citiSe0s which
sas4 concur with us In this act. the right to obtain
oonds thus endorsed, provided the bids they make
we s9uA TO those ol any sthsTs. IN order 70 ~
wye the largest price, also. end 70 give the coun'
~ iaf opportunity 70 invest IN thsse securities,
.esy should be offered BY public advsrtissment %
.as highest bidder, IN such portions anA u sueh
best
A farther reason which has eovsrnsd ~ eeu.
uassss y that the General 0oyenmsnt II IN.
n.nsaay 10 nssd Of foreign exehanes. ~ present
ss must b bought at two hsnAfs4 per ssct pre.
Sa9 o. thsss hundfsA lollars must b Owen b thll
Soeety Tor one hnnAeeA dollars n lngianl Il
~ Government shoulA ofbse bou6s sbfoa1 th1y
wSead b nst by ~ leelaraales ~, lnpo -
w sAasss ~ ess 0evuanso4 n , nabde - n