The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1862-01-15
Moneys u Metal, and Premises On Paper.
From the Charlotte IN. o. Bullsfin.1

Inc gradually increasing differences in the
maI mari, value Of gold and silver, COM
ton, throughout the South ans " est, may be
explained without reference to exertioa upon
the part OF any One-''to force q peace or to
dspreciass the value Of Confederate no'es"-
according to an idea suggested by "Publi.
cola,'' in the Charleston Courier, of the 18th
instant
In consequence Of the complete suspension
OF coinage at all Southern minis, with stimuli
taneous interruption Of foreign commerce,
gold and silver have been boarded by banks
and by private individuals. Such valuables
daily diminish among us, smuggling to the
North because certain articles of urgent ne.
cessity, expensive drugs, for instance, can
only be chained by means Of gold. Coin 10
demanded In the West for purchase OF meats
Tor CommissI rtes' stores, as we'll AZ Tor arms
and ammunition In Europe On tho contra.
extern: by our own bord'rs; while the
amount in State or Confederate notes and
bonds has largely increased, BY imperative
necessity to carry on the war. There is plen-
with an obviously diminished supply Of gold
and silver coins. Larger sums, in paper
money, must consequently be paid for gold
and silver by common lac Of trade, az we are
entirely cut cut ON from foreign coins, In OK
change for produce.
During period OF fifteen years. according
to Official proof tho product Of gold from
Southern mines, in the CArolinas, Georgia,
co, approached the sum Of eighteen millions Of
dollars. The annual average supply of gold
for that series Of years being, coneequentlv
equal to twelve hundred thousand dollars.
some advantages might be felt in the Oonfed-
eracy at this time, by an exertion to coin ma
tive old, to meet the grest demand for tts
important, well appreciated uses.
BY simpllhcation and management in the
details OF expense, seigneuraEe, or charge
OF ave per cent. upon the value Of deposits
Of bullion, would meet the cost Of fabrication
into coins, without other appropriation by
the Government than q permanent fund to
pay depositors full equivalent for their
bullion, directly after assay, according to
usage.
A law has been drawn mp BY the Oonfede.
rate Congress- to establish assay offices at the
minis in North Carolina and Georgia, with.
claimed by the Oonfedera cy, an d NOT reserved
BY any StateJ also without any permanent
1ond 10 provide prompt payment after assay,
acco riding to custom and utility. Hence thi.
law seems to be a dead letter. for every prac.
IDEAL purpose, that suggested Its ena ctmsnt
An adequate deposit, for immediate pay.
ment after assay, would at once bring al a..
say office into activity. and enable miners 10
engage probably In their wonted tndustrv
which could nfford, under existing circuna.
stances, to cefray all necessary expenses OF
man ufacture hitherto supported by Govern
ment. Whereas, no ono appears willing to
assume the onerous responsibilities which
"
The banks In mining districts re- lain large
sums In bullion, which are not now avafla.
BILE for domestic exchanges, nor as currency,
because 1t does not possess the form Of eot'ss;
while the owners of gold bullion pay In tsrest
upon advances made in paper upon such
bullion Banks with limited capital or re-
strictsd charters cannot continue to purchase
O make advaaces. In notes upon button be.
yond certain amount OF their funds, which
many have already reached. when our
ports are opened to foreign com nerce, some
foreign coin may be anticipated, and BAYS of
natiy bullion, the product Of southern mines,
advantage over coin But the cpls Of this
country, educated by the experience OF 4
former revolution, prefer that the precious
metals Be occasionally tnterminglsd with
W. navsosI sainiy no disposition to d.prs.
cfate the value OF COn federate. State, or
bank paper, but the facilities offered for sx-
tended Issues OF promissory notes. must have
that eject In relation to coins. Paper mo-
n-ys prove extremely conyenisnt ia many
operations OF commerce and trade, ~ rep.
resentatives Of values, % long as public con.
ddence sustains them. Gold and silver coins
Isrve the same general pnrpose, with this
themselves iayfnsics1iv. they posssss the very
values the others promise 10 pay.
These two precious metals serve naturally
10 proportion and rule the values Of all DOM.
modities Time immsmorial, among COM
have borne the same exact ratios to each
,thsr. In trade. which were carefully guard
ID, when min Is were established In the 6oath,
Eor the purpose Of coinage.
1t 10 prudent, during war, to sustatn the
arts Of psacs, particularly those which sap-
ply bullion and coin for our common curren-
y. graduated By the preclss values Of the
precious mstals-espscislly II such parpoees
Fan b e&ected without serious expense to the
4cvsrnmsnt Of he Oonfedsracy, - W b.
ltevs they can.
Dustain mercantile conlldonce n the bonds
ma notes OF the Confsdsracy, and ali raGpon.
nois Dank yepsr throughout the Stat1
As.ss AsaisoLA.