Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1862-10-02
From the Richmond Wing.

From the Richmond Wing. |
The Confederate Currency.
PEAKLAND, August %, 1863.
who refuse the notes of the Confederate States
ask TO express opinion in reference to the nj
" (you) the reply in giving confidence to the
I" holders of these notel -
am somewhat surprised at your statement, and can
but think that the who refuses take the notes of
under existing circumstances an enemy to
cause which that seeking uphold
that be Just much engaged giving aid and comfort
to the enemy-in fact IS aiding aud assisting them and
sbly could dc.
Our success must depend upon united constant and
nest Efforts to become people To achieve Dde
penderce sacrifices be madeosses nut be expected
and must be submitted If fathers,
amid the perls of 7s been willing to suffer alic
ton and DEATH for the great of hu
liberty, should have been without history,
and might have been the vassas crowned heads
the enobe sons If namees fathers and the degraded VIC
Tins of passive obedience to deepots and yrans. And
we could now 60 PACK to the pregres OF our hevouGn
hsc refused to take the old Continental money should
him With all the other maj ks OF subject OF George the
Third and with the OF Tory written even On his very
forehead.
General Washington in letter to bis brother John Au
gustne Washington dated Philadelphia, June Doth 1775
more than twelve months before the Declaration of Inde
pendence announcing his appointment Commander in
inform you that Congress- in Committee have consented
Continental currency, aud have ordered two millions
other purposes, and have voted 5000 Cont
mental Army With nfaltering trust in the justice
VI
his compatrots in went forth to meet the enemy
then mi presumihg to question the wisdom
of Congress their ability to meet the high expeeta
lions of those who proposed pay them in the currency
of embryo nation, which yet had not even de-
cared itself free and Independent Of the mother country
God however, did bless them alter years war;
and these colonies became ee sovereign and independent
States Bat alter the lapse of more than
century. effort is again made tor ensaGe Shall
enemies be more successful when We have to be
great aud nigh nation-When prepared to make
good claims to independence though other nations
have rot yet, recognized US No. though England and
France may stand aoo zoe can defy all our enemies abroad
If shall bat be true 10 otrscireS al home.
ur ancestors supported the of the Revolution al
sued 900 Of paper oars-had borrowed 600
CflCe certificates home, all they could
Europe besides the monthly supplies received from the
states ou de- PAPER issues also amounting to 10000
600 All this done Whsu CO ngress but
Gov"rnment powers excet such as were derived from
their discordant commissions In l7O, however the lakes
Congress the necessity scaling the old debt
to sink it, and CT beginning anew or OF glUg the cause.
1t was wseS deternned however to choose the former
and Cong ess sustained by the very people who held
the money and who were TO be losers by is depreciation
But the Old Congress- Of Continental creation, the
midst distressing without the sembarce of
uar Government, 10Th nothing TO dI and therefore,
nra0n sH new we IN
tabhed Government, created by the will of the people of
atitut on having powell lay aud collect taxes du-
ties mposts and axcses for necessary to pay the
db provide for the coHmon defence and carry on the
also, " TO b0rrono money, on their credit
The only question then to be considered have sub
ecs of taxation sufficient to enable to raise
for the payment of debts contracted by the
Every issued by the Confederate Government
its face promise to and jua much the bond
the Government as your bold or mine s the individual
obligation to whatever purpor to be the amount for
which IS given IN the one case the holder of your bond
mine has right to lock to effects. to hous
land and other estate for payment Bat the holder
government bonds looks to the estate OF eerg man in the
community urnsh security for the redemption of the
pledge of his government If we are to remain
separate from the rest of the world and with no baan
ces of trade to adjust with foreign nations make
money whatever form may issue it, the
dard OF value ch to regulate exchanges between
and man When recognition by others nation shall
have been duly published and take rank the
tons of the earth then the standard value regulated
by all civilized people in the form of precious metals must
induce to look home aud abroad also for the develop
met OF our nanona resources so as to cause this standard
of the world to operate for benefit nation ALSO
In other words, if then sell than buy fom
broad gold and silver Will have opened for them channel
through which they may flow freely into the country and
our promise to pay may be redeemed. The obga
lions OF the government will be quietly and silently dChar
ged from the ability of the people meet their respective
portions OF the national liabilities. Within six months after
the ratfCa of treaty Of pea with the United States
Government Government will be bound to redeem
its promises to pay But this NUT necessarily be it
and has been with the old by the issuing
the time of other notes. by funding its floating debt by
certificates stock bearing interest of eight Per cent
to pay whic all the of the government may be
pledged until every dollar is paid off and discharged
Now, to RESOURCES The two great staples of the
South tobacco and cotton, alone will furnish most
ample basis and give u, at all times balance of trade in
cur favor we but practice economy and make at home
in tsmiliea, may do much of what we are
accustomed go abroad and this, too aoo protec
On by the imposition Of duties imports any
Tobacco and Cotton necessary to the support of Euro
pean governmental revenues and to the employment and
clothing of European suit octs They compelled to
sort to ut bound to 60 them for any but
few of tie articles Of consumption. The ne of the
tobacco and cotton exported for the year 1862
in the aggregate to $ls2608 96l To this must be added
other products Of the South such sugar, rice tpen
tine, wheat four &C. amounting, altogether $40 co.,,
coo and making with the combined S322 ,96l;
but it must be remembered slso that the United STATES has
become to foreign GOUernlent also, and they will
sumo they have heretofore DONE much MORE of
our material If permitted 10 do Now but
items the grand of the wealth Of the
tie States, but when looking for of in
time of need cannot pass by lands, slaves
cattle horses hogs sheep &C. These Confederate States
have an ct 600 900 square miles greater
than FL gland Ireland Sc otland France ain and Potu
gal, all combined and with taxable property estimated in
the aggregate to torevtlCo thousand millions of dollars
They have all the of wealth. too yet unde
in the richest mines and in the xhaustibe supplies
Of COAL lead, iron, copper, SALT &C., &C., with a
OF railroads nearly completed besides the finest harbos
the world.
Let hear then, about reputation CT Confede
notestor the notes of the Government rende
worthless by failure to maintain cur position
dependent nation, the notes Of the State Banks must be
worhless-for they owned by loyal Southern men
Gated under the laws of the Lincoln they
already gone forth But to achieve ndepeud
ence and shall in due time, redeem every dalar of
Ceot necessarily created in the struggle to support the
by wicked and corrupt rulers who have yranzed the
people.
! i am respectfully, WV. l.. GoeGIE.
! Orleans.
We have information from New Orleans much later than
that previously published The confscation law is be
put force we believe some time this week. The alter
ife