Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-09-16

in ordinary business transactions stop to
examine the particular date of note
which they are about to receive. Very few
can remember the particular date OF the
note discredited by the law. The cOnse-
qusnce is as ssOn as they ascertain that
notes of some dates are not receivable in
payment Of taxes, aud they do not know
which, they become shy of receiving any,
and all are discredited. When they are told
that some of the banks will not receive
them on deposit, aud that some of the rail-
road and other transportation companies
will not receive them for fare or freight,
they of course refuse to receive them, aud
a general depreciation ensues, whieh it will
be found next to>impossible thereafter to
prevent.
In very many cases this money has been
paid to our soldiers, aud by them sent home
to pay their taxes. Some such cases have
been brought 70 my knowledge, and the
persons who were in this situation, on
finding that it was not receivable 10 pay
ment OF State taxes, have very naturally
complained. If the money was good
enough to pay the soldier, who receives
but eleven dollars per month, why isit not
good enough to satisfy the claim Of the
State when her agent applies for State
dues? We have no State bank circulation,
we have no State Treasury note circulA-
tion, both of these descriptions of notes
having been hoarded as fast as they could
be collected by moneyed men. The con-
sequence, therefore, is, that the holders of
the rspudiated Confederate issues are
driven to the necessity Of shaving off those
they have, IN order to procure such as
will enable them to meet the demands of
the State. While it was not the intention
of the Legislature topIace the taxpayers
in this condition, such is inevitably its
effect. They must have such money US
will answer the purpose, and TO obtain it
they must apply to such persons as have
1t, aud must pay them such prices in these
rejected Confederate issues as will COM
mAud it.
The only reason / have ever heard as
signed In justification of this legislation Is,
that it was designed to force persons
holding this currency to fund in C0nfedeF-
ate bonds, and thus retire it from ciTcula-
tion. This would all beyery we'll If every
man who had these isues in hand had no
use for them either for the support of his
family or the payment of debts. 1t un-
fortunately happens, however, for this
theory that four fifths of the community
have no money to invest. All they receive
they have present and pressing use for to
relieve their daily wants aud the wants of
those dependent upon them. Funding:
with all such, is therefore an impossibtlitys
and the circulation thus rejected cannot
be retired in this way. -s.H
Congress, feeling the difficulty, and de.
sirous to compel the funding, passed an act
which provides that all notes of issues
previous to December l, 1862, should be
fuDdablein eight per eentbOnds If presented
by the 22d day of April, 1868; if not pre-
sented by that day, but presented before
the Ist Of August, 1868, they were then
issues are not fundabIe at all after the 1st
of August. Notes issued after December
l, 1862, are fuudable in seven per cent
bonds until August /, 1853, and after that
date in four per cent bonds. Notes issued
after April l, 1868, are fundable in six per
cent bonds if presented in twelve months
from their issue, but If not so presented
they are fundable in four per cent bonds.
This looks to me very much like repudi-
alton to some extent, of the obligations as
sumed by the government; and 1t is not,
therefore, surprising that such legislation
should have created uneasiness in the pub
lie mind, and aided in bringing about de-
probation, and a want Of confidence In the
ultimate payment of these obligations.
Other legislation on the part of Congress
uhb GeuuG0 SbEVu6ty " PEOA0oO S1o oNI40
conclusion in the public mind. The mode
in which taxes are to be assessed upon
credits in certain contingencies may be
mentioned as one that tends directly TO
the discredit of the currency. Better far
would it have been to make those issues
legal tender in payment of debts, than to
resort to q compulsory process like this TO
force its reception by the creditor; and
while this 10 being done our Legislature
is urged to reject the same paper issues in
payment of State taxes.
When the government casts suspicion
upon its currency, and the State govern
ments and the banks and railroad Compa.
nies do the same thing, the people may
we'll become alarmed. The Consequences
cannot fail to be most disastrous. We
cannot. change the action Of Congress, but
We can remedy the errors of our own leg
islatiOn, and thus show that, we are dis
posed TO uphold the credit and currency of
the confederacy.
IsHbmit the report of Captain Edward
II. Fitzhugh, now in charge Of the Quar-
termaster Generals office, 70 which iu-
vite your attention. It presents clear
and succint statement Of the condition of
affairs in that office from the organization
of the State line forces TO the present time,
and will doubtless be read with great in-
terest, especially when it is recOllected
that Just before the State line troops were
disbanded it was quite currently charged
that the entire appropriation had been ex-
pended. This report shows that the sum
of one million two hundred and twenty.
i've thousand dollars had been drawn from
the treasury for that department, aud that
since the Eorce was disbanded, six hundred
and sixteen thousand ave hundred and
seventeen dollars aud ninety.tWo cents had
been refunded, leaving the actual cost OF
the State line forces, SO far as that depart.
mentis concerned, Elk hundred and eight
thousand four hundred and eighty-tWo doll
lars and eight cents. Other property now
being collected, aud which will be turned
over to the Confederate government, will
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