Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1862-09-24

other interest," and have encouraged this belief by
stating that would recommend to Congress that
the interest should be paid annually. earnestly
hope that Congress will approve this recommends
ton. The payment could be stamped annually on
the note, without encumbering it with coupon
and in this way, it is believed the objects Intended
by. the issue would be effected.
of less denomination than one hundred dollars
The large amount of money in the hands of private
capitalists is the fund which we must induce to bt
loaned for tho uses of the Government From the
war tax returns and from estimates as to such States
as have not yet made complete returns, this funo
NAV be set down at seven hundred millions, and one
of the best means for procuring the use OF part OF
by the Government seems to be through these notes
which answer the double purpose OF currency ano
investment
I have also. to report that the acceptance Of de
posts on call at per cent. has operated wen. II
will be seen that near thirty millions have been de
posted in this way; thus proving at the same time
the confidence of the country In the Government
and the advantages of the plan -,
It will also appear from the statements herewith
that there have been issued about 646 900 OF noses
| under five dollars These notes are in great oe'
mand and the issue of them may be extendeu " 'e'
millions. ..;.,. ao
The issue of the largo amount ana va. van ,:as
nominations of notes has nton Of CONGRESS
Guilty which calls for the Intervention VI
7. Tho services of 1873 clerks to perform the
-. lis involved in the issue OF these notes.
nstEos. .hont 7s arc employed in signing; and it
iii he readily seen that the chief security intended
hg The signing is thus reduced to but little practical
value It is difficult for any one to bear III mind
the signatures of so many different writer's but
when to this is added the changes required by sick
ness, Absence and designations, 1t becomes inposs'
BILE.
These embarrassments have been increased by the
efforts Of our enemies to counterfeit the notes Or'
panized plans seem to be in operation for lntrodu'
cling counterfeits among us by means OF prisoners
and traitors and printed advertisements nave been
found stating that the counterfeit notes, IN any
quantity, will be forwarded by mail from Chestnut
street. in Philadelphia, to the order oil any purcha
ser. =,
Under these circumstances, it will be necessary
to change many of the plates and to make new Is
sues. The change would be more complete by dis
pensing with the variety of signatures, which are
attached to the other notes. l am informed by the
engrayers that the signatures of the Register and
Treasurer might be engraved in fac smile and print
ed and by stamping an elaborate engraving in col
ors on tho back of the note, the security against
countereits would be greater than 1t IS at present
The exnense of the issue would be diminished by
d,spensine With the numerous signing clerks and
its more prompt execution would be secured. IT.
order to make this change, the authority OF Con-
eress is necessary. The laws against countereitns
# not already sufficient must be made to embrace
these notes. In this connection, too it is proper to
bring to the notice of Congress that the penalties Of
the law, while they apply to any person found in
possession of counterfeit blank notes, with intent
to utter them, do not seem to embrace notes which
are completely filled up and ready for circulation.
The situation Of the country made it advisable to
remove the printing and engraving establishments
from Richmond, shortly after the last adjournment
of Congress. The distance from the seat of Gov
eminent at which so delicate business must now
be conducted, involves the necessity Of greater ex
pense and of greater ability and higher character
than those of ordinary clerks, in those who must
superintend. would, therefore, respectfully sug-
gest that this Department be made separate bu-
reau and that Chief Clerk, with an appropriate
salary, be charged with the superintendent of its
business at Columbia.
The war tax has been paid by the several States