Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-04-14

ENDORSEMENT OF CONFEDERATE BONDS.
The Augusta C0,StitUtinaniist has saved US the
labor of writing arr cle at this time the i'm
portant question before the Legislature, of the
endorsement of the Confederate bonds. That paper
says, arsi we endorse every word of it. that
This is comparatively new subject for lis
cussIon but one which requires calm, d:splsS:onate
reflection. before final action is taken it by the
State OF Georgia. We doubt If tenth part Of the
members Of the Legislature have seriously
considered It, until within the last 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 be an issue suddenly sprung upon
the General Assembly. But it is question of vital
importance IHst to he entered upon with zeal
without knowledge" nor hastily decided; for the
step once taken cannot be recalled. We trust the
Legislature will take he ampieSt time for consid-
Grafton Of so important a matter, and not allow
itself to be hurried into a sad1, judgment
! The policy of State endorsement was adopted
/ first by the Alabama Legislature last winter and
has since been adopted by or three other States
ALL however differing to the form Of endorsement.
| 1t originated in the bet Of motives and at a time
! when circumstances forced all thinking men to the
conclusion that something must he done to stay the
depreciation OF Confederate currency and give con-
! tdence to Confederate credit Bat the times have
changed; and if ever the policy was necessary for
! 1t could never be wise one, it is not so now.
| The Confederate government has lately under
I
store its credit the policy naugurated promises 10
be Sautary in its effects and should least have
fair aud thorough trial. before resorng to the last
most desperate expedient of State endorsement
The Congress has passed funding bill which will
! absorb n large part of the circulation and thus
remedy great evil under which the country is
laboring. 1t has also passed a wholesome tax bill
which will raise, perhaps, sixty eighty millions
enough to pay the interest on the Confederate debt
and leave considerable surplus, to be devoted
either to redeeming the principal to paying cur
rent expenses, which will also help to reduce cir
cuation, and, still more important impart conf
cence TO the governments credit At this time,
| then, it cannot reasonably be pleaded that State
/ endorsement is a necessity Of the times
1t is unnecessary at this time to do more than
! succnctly reiterate the objections to the policy
| heretofore set forth in this paper and which have
been so much more forcibly and fully urged by
! Gov. brown in his late message, and which are held
! by the profoundest thinkers in Georgia These OBJ.
lections ale simply that the proposed endorsement
Is not necessary rs an aid to the Conederacy; that
1t would not improve the Confederate credit bat de-
precate that Of the States and reduce all of them
to common level in that particular, which would
! be highly injurious to such State as Georgia and
unjust to her bond holders that it would separate
the debt making and the debt wing responsibility;
that 1t would thus encourage the most reckless ex
| penditure by the Congress, and that it would be a
glaring and too great temptation to selfish captal
! to grow cold in its first love for the Confederacy
| and to favor reconstruction. We hope the mem
bers Of the Legislature will maturey consider all
these things, and at least postpone action till next
winter; and in the meantime, let the people study
the question, and make up their mnds on it."
! MAKE BREAD.-By far the most important matter
which should engage the attenton of farmers in lay
ing out their work FOR the present year. is that of
making meat and bread Corn, CORN, should be the
leading article The end of the war is not vet In
/ hat ftuin mott
for two or three years-not until the expiration of
Lncoln's Presidential term. Let al prepare to sup