Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1863-11-25
Thc Ranr Copyen,ionat Apeusta.

tetnoon or tuesday the 18Th. "a cnn:!nittce
NJ .;eI, san suIu.. ted a report en,b,dyine
substantially the plan of the South carnfna
hanks. published in. our last, is.;e. Mr. VIM.
hhGeepe. OF South Carolina. proposed tmend-
ments ghich were lost. Mr.. Torbett, of Ten
nessee, from the miuorityof the Committee,
offered a substitute, which was likewise list.
Nj. ] g. Holmes presented some resolutions,
which failed To be sustained. The Commit
tees's report was then taken up by sections
and adopted. The following ia the report, to
which We directgthe especial attention Of oar
readers :
Whereas, experience has demonstrated that
the dues to be collected by the Government
! and for which Treasury notes are made TO
crivAble, are i%padequateto absorb Insufficient
amouptso of the notes, 10 prevent the evils of.ar
excessive paper currency, and tits deemed es
sential to the interests of the people and OF the
Government, that measures be adopted by the
Government to redeem or fund the. entire
.amocnt q. the. said issues, or so much thereof
as shall reiuce the sum OF the currency to
two hundred millions or less. For the accom-.
plishn,eut of this object the following mea-
sures are recommended to the country and
the Government by this Convention:
|. That u new ISSUE of Coupon Bonds be
made To the amount OF one llOusandeniIlions
Of dollars. The bonds bearing six per ce mt.
ihtcresi-the coupons payable annually in
cohI=; aud that, in future; TO- meet the wants
OF the Confederate Government, the pdlicy-oi
issuing Treasury notes be, Abandoned, as fur
as practicable, and a tax sufficient for all The
requirements be adopted as The true policy to
60. st. o.,l;t Of tha onf,doron nv
2. That au Act be passed levying ajax Of
sixty MILLIONS Of dollars, to be collected annu
ally during the whole period Of the said loan,
for The payment of the interestou the above
bonds, and that the good faith of6he Govern.
ment be pledged forathe Continuance Aof such
TAX until the maturity OF the said:loan /; and
that the. said tax shsll be- paid in coin, add
that the coupons Of the above bonds be sc.
ceived in tue payment of this tax in lieu Oh
cuin.
3. That before the bonds shall be offered
for sale in any other manl,er, or at q price
above@psr, they shsll first be 2pportioned.
among the States OF rne Confedsracy, 'aed that
a Commissioners shall be appoinredaor each
State to maketknownsto the tax payers III
eash collection district.the necessity of provid;;
ing themselves with y sufficient amount OF
bonds to. pay this specific tax, and who shall
sell at par, to the tax payers in each district,
the amount of bonds required to providt coo-
p)ns for the payment OF their taxes and that
all bonds heretofore issued by the Govern
ment and Treasury notes OF all Issues be re
zceiyeli in Payment for=the said bonds and
4: .hatthe said payments shall be required IN
convenient instalnents to snit the circpm-
stances ofpersons Of moderate means; but
the privilege ofpaying nS Fuli- at any time
shall be accorded to all.
a. That all existing distinctions between
Treasury aotrs of different. Issues and dates,
b. abolished.
S. That the interest on the stock Of the
fifteen millions loan be paid BY checks on the
Treasury, and that the said checks be receiv-
ed in payment of The export duty on c"tton in
The same manner as the coupons onthe bonds
of the same loan.
g.. That a Eve per cent. call1oen be estab-
lished similar to.the frst or original call loan,
and that ai Treasury pctesbe received al the
Treasury therefor, aud that the present hvs
per cent: aud four per cent. call loans be.
abolished.
I. That the right of the holder of Treasury
notes, which upon their lace are funGabie ID
eight per cent. stock, ought to be recognized.
and al, eight per. cent. att short period pro
vided for that purpose, aud also that all the
privileges attached to the original 81 per
cent. call loau be restored to the holders of
al outstanding certificates of that loan.
8. That an increased duty be levied on ali
imports aud exports during the continuance
Of Tie war, aud that the same be collected in
yoiu or approved bills on England or France,
or in the inlerest ON The fifteen million loan,
0. That an Issue Department be created
by the Governme1tani kept separate from
tie Treasury Department, whose duty it shall
be. TO supply a new issue q: Treasury notes
in exchange for the amolint that may remain
in circulation tf1the present issue and that
the new issues shall express on the lace OF
the bills that the same are receivable III pay
lncnt of all public dues, except such as are
specifically required to be paid in coln..-
10. That thers should DO an issue Of bills
of d large dtnominaticu, viz; S3Qg, Sl,Ooo,
S., OOCrand $40. 0O0-sntfrient to facilitate
tho TRANSMISSION Of funds and the settlement
Of balances.
$500. H1y-.... " lausp~