Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-04-15

The Augu<ts Cons'itu.ionalist has saved us the
labor Of writing an article at this time the i'm
portant question before the Legislature. Of the
endorsement Of the Confederate bonds. That paper
saws and We endorse every word Of it, that
= THIS is comparatively subject for dis
cusson, bn.one which requires Calm, dspas>ionste
reflection, before tiHal action is taken it by the
State Of Georgia. We doubt if tenth part of the
members Of the Legislature have ever seriously
considered it, until within the las, few days There
has been little said about it by the press of The
State. the people have thought little OF it. and it
may be said to he an issue s,.ideni; sprung upnn
the General Assembly Butt. is question Of vital
Importance, not to be entered upon with zeal
without knowledge nor hastily decided; for the
step once taken cannot DC recalled We trust the
Legislature will cake the amplest time for consld
Grafton ri so important matter, anil not allow
! itself To be hurried into snap Judgment.
! The policy Of State endorsement was adopted
first by the Alabama Legislature last winter, and
has slcc been adopted by tive or three other States
ALL heweyer, differing ss to the form Of endorsement.
1t originated IN the best Of motives and at time
when circumstances forged all thinking men TO the
conclusion that something must be done to stay the
| depreciation of Confederate currency and give con-
idence to Confederate credit But the times have
changed; and il ever the policy was necessary, for
:! it cnuld never be wise one, it is not so now
The Confederate government has lately under
taken TO stay the depreciation OF Its notes and
store IFS credit; the policy naugurated promises. TO
be sautary in its effects ami should at least have
fair and thorough trial. before resoring to the last
most desperate expedient Of State endorsement
The Congress has passed funding bill which will
absorb a large part Of the circulation, and thus
remedy . great evil under which the country is
laboring. " has also passed a'wholesome tax bill,
which will raise, perhaps, sixty or eighty millions
n0ugh to pay the interest on the Confederate debt
and loouo h1o - i
either to redeelning the principal or to paying cur.
rent expenses which will also help to reduce cir.
heulation, and, still more important i,npart conf.
dence to the governments credit At this time.
then, it cannot reasonably be pleaded that State
endorsement Is necessity of the times
: 1t is unnecessary as this time to do moro than
snccirct,y rctera,e tha objections to the policy
heretofore set forth in this paper and which have
been SO much iEore forcibly and fully urged ty
Gov. Brown in bis late message and which are held
/ BY the profeundest thinkers in Georgia These OBJ
]ections are Simply. tiat the proposed endorsement,
il not necessary aid 70 the Confederacy: that
it would not improve the Confederate credit. but de
preciate that Of the States and reduce all Of then
to common level in that Particular, which wou,t
be highly injurious to snel, StNts as Georgia snt
unjust TO her bond holdsra; that it would separ.t
the debt making and the debt paying responsibility
that it wonld thus encourage the most reckless ex
penditure by the Congress, and that it would be
glazing and too great temptation to seltish capita
to grow cold in its first love for The NCopfsdcracv
and to favor reconstruction. We hosc the mem
bers Of the Legislature will maturely consider Al
i9ese things, and at least postpone action till neA
winter; and in the meantime, let the people sind
the question, and make up their minds % II"