Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1862-10-23
rHr CoNFEDERATE CURRENCY.

the snver ware" lGreat laushVer
TIE CONFEDERATE CURRENCY.
We suhioin tbs views OF several OF our c~ontempora'
ries upon q subj 20. xhioh L. Engaging attention in tho
Confederacy-the financial policy Of our government
and the prospective value of the Confederate bonds and
Treasury notes
From The Atlanta contstsrsey,
To day We lay before our readers entire, the speech
of Hon. e II. Rucs. OF < ntucky, delivered in the
House of RspressLty ives 90 tao ! Inst, On toe d :an-
oss of the Confederate G Ivernmsut IL q butJect 10
which We all have the deepest possible concern, aud
should command our elrneet attention. ". Bruce as,
ceases some points and exposes som, view. wnoa are
not % fully considered and 40 generally uaaerssood oy
our people a. they should be.
He calculates that the war will end by next Spf1g,
tn At our indebtedness by that tina will be near sl.OOo,'
600. GOO. This, st the rate OF interest the government
Il nos p.ying, will require $50 600 900 a yes. TO pay
the interes' on the puol's dcer s'si!es Tue Ordinary ei
pense Of tho goveram.3t, snd this Mr.. b. very properly
concludes we could never pay. 4: AA-V.s' III snsn
our psoplo could bear, aud the goTernm nj is doing
wrong 10 % pfoFising eight per cant. interest on this
debt.
H, th!nkiA promise to pay s pr cent, which svory.
body knows Ne otat do, eqlA to & previous d?claraiioo
Of an intention not TO pay IL, and 10 calculated 70 breIk
down our credit and that q red elton OF the Interest,
after the manner of the Elgisa Gosernpsrt, to a rate
that eyerv body knoas We eau pay, will be cons dered as
the best evidence Of the intention Of the Government, 10
good faith, 70 meet the interest on lhs debt aud flaly
to redeem the deb. is II, and, therefore, would strength
ca and more firmly establish our credit. BE il right
No government ever paid s per osn.- Interest on a large
ndsbtedness-Gone sip, and none should attempt 1t. As
Mr.. Bruce jlsly remarks, Oonsrcsj nay DO excused for
setting q hgl rae Of Interest as h'st; for q long aud II
pensiye war, wsgsd on SO gigantic q sciIe, va not then
contemplated, aud a small deb, running for a short time,
might we'll rs,. . liiGs rat9 81 i%lteres!; bu' now tia.
$1,000 "A n a m nj eta. !, "a mr. ,.fiona AMI
T., sIpsn,es c.p neasura;e with iss ex .ehr wec'n'i pay
{ psr cent, ,ud should no longer Pa' oui promises to
do so.
Upon NJ. Bruce's plan tae war debt can be paid-in
terest and pincipL-Withoui making |: burdeusome
10 the people and tbs plin will q. oncs establish our
credit, as il will show to tn, world We iHt.nd to pay It,
BY adopting q pan By which We can do so.
Psop the RIchm ,nd Eaqul.er.
The pre niuu WHICH goldg coz nanis. couplred with
the Confederate currency, ia no test Hhsteys or of the real
credi, and value OF the latter. Gold is in mach demand
BY the blocklis rulaTr3, Wlo nsid 1t for ths purchase
Of goods ol:Sid, our liues, for which our currency is, OF
course, rot available. TIE proia which these mel make
on thei. goods i. 90 enormous that they can shiFi 10
pay the higl rates for gold which the brokers ex'ct Of
them.
70 show the esgerness Of the demand for money that
Gao be used outside cue iIes, and tho higa premium
which 1t will consequently command, We state the fac
that Uai,ed States Treasury not,s hay, been soil hare
q u lCDluu - ~ SaNS'SN sNS NA 20 sS~sf
There is, probably, no. 9 eds'n OF our 0onfede
ricy VITO would not, ~ 9 simpl, ~pecuaiary
question, prefer Confederate to United States ia
%uiliiss. We have here almost as general q belief in III,
ultimate bankrup cy Of tho Washington Government as
va haze 10 the esFliin soiyency Of our Own. We do no;
yAua the pIited States note1, therefore, as at all
cq1L to ours And yet the later comm and s pren.sm
Of 4 huadrsd aud ten pee cent, simply beciuae they will
ans Ser a present parpose Wh'Od ours Will not. Ilttin-
sicily, We rate them far bSloW cur eva. rh,i' scarcity
here, and t-eiE capacity for ! particular use, temporari y
gives them an accidental aud h,titious value.
Bat for this Htloeksds" trade Uai'ed States Treasury
roles would be utterly worthless hate, and gold would
be very little inquired TO-, ald would rule at q low pre-
MUM. 80
faen let our people drl. no erroneous ~infereuces as
TO the credit lad y,,ds Of oar ol-EsnoJ ald securities fran
thu high premium on gold, SINCE II is duS TO a oluss sep
arate from the yaue-a carse which, though temporary,
Is yet powerful eaough TO plics UIt,d Safes notes,
which elso E9uli b s%oF!llsSI at ITO pr cont. pre-
milm.
Prem re Charleston coI1er.
TIE currency OF lAs Co e ierlle GSyerameu! Is islad
by the authority Of n; Confederate States ia their q
srcga,e osplciy, through taer Rep ssladgss il ca.
grsss, end every sac aai eve:y clgz'l 0! he OoGiei.
eTlcy l. parry b.UCa .CT lie redemption, % X bis Gg
nature wcFs rl.oci 20 each individual ht.! c. zee. An,
oas ossrediang IL, ~thaTOioso, "a ieuhl,s5 &C. tie CAes Il
the CJnlejeTacy, AID, Ia 4 sociG! point OF VOs, places
himself IL The Iosid0g OF ono who, having an .lor.2!d
an agent 10 isue Obligations " pay GA bis rEme, os
credits tho.e obHg,uoa- on the g,oGed tbs. his personal
i1tsres; his 10; sen suai ji.niy siTauosd, Shue ~ Il,
iui q fen! TO tie Interest o. lhs puo!bo, VINO have 40
copied Them IA gooI a.ll and t1F lhcr sIp:Js5 v,lu)-
ais tlsa would % as absIs! y 81, Is !ith!zs, Erl G,n
mol Law NsEli oosS W7 hin: b-!!.iI nc. heI i4itiisss
70 eVids, ogJI I~ldl;lcIy. TIE ObuSGjJl tia; rsj.l ~ n
every true Ct n OF The UnlteieEat0 s4to 10 uphold the
G~5vsr1msn. euneicy "a tn iuii vtue or m!8.GrC e
o1ia within the hi5 Of the Coliedrgscy. Toe fac =
that our Government: owes no foreign debt, tia. Iht
p,opls are wi.h54: K lscsi-oss, iISl The prJiuc i've H.
DO. OF tAe Confederate S'a'es "a a 5iUs.s , asen wopld
afford an "a Tess for Gx9or.Si ol OF ~prodUo's, eg1si II
yaIus TO double the imount of coin held 6J the banks
of y ,glins aud Frsncs IN prosperous iIm,s-al gu,rIu-
tss that the Confederate GU .reDcy, With twelve months
Of p,.ee, will be &C %ivloa: 10 coin.
ACs,sI At ss4.-A writer ia tho oo.u n5ii South
orol.niau, over b, signature Of "E~lgishmsu," gives
the following graphs sIs1ds' OF the steiE. : sAsh7iis'a
iast voyage from NlJ,lu TO CHARLESTON