Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-09-01
FINANCIAL AND COMMERCIAL.
MONDAY. August 81. 1853.

There has been no material change, fnancia ly
or commercially, stree our last semi-reekly review.
The Gale of stocks advertised for Friday last wa post
poned on account Of the semi e1citemen; occasoned
here by ringing the alarm bells and bringing the
militia to repel supposed advance OF the enemy up
the Peninsula Another sale is advertised fer Wednes-
day. Ia New York, on Friday, gold closed at sl24-a
slight advance Tennessee skies sold at 6si. No other
quotations of Southern stocks gisen.
A bill has been submitted TO the Alabama
Lcgislatur entitled AN act prevent the dsprecia-
ton Of the paper currency of this State aud The Con-
federae States" which prov dea that if any person in
that State SHALL after the approval Of the act buy, sell
or exchange gold, oliver, bills Of any chartered
bank in the Confederate Ses for Treasury notes Of
this STATE of the Confederate Eties for any pub
lie or private security e,i ence of debt shatever he
shall be guilty Of high misdemeanor, an subject to in
dic.men. therefor, in tie coanty. in which the offence
shall be committed and, Cd conviction shah be fined
in any sum the jury trying the may assess. aud
shall be imprisoned in the county jill, etc.
A bill to prohibit and punish the sale Ietange OF
Yankee "grecnbacks" before the Confederate Con-
gees at It's Last session. but the conclusion ved
vas that legislation the subject bertained exclusively
to the Legislatures Of the several States We trust that
Gov Letcher will call tie attention Of the General A.
sembly of Virginia, (Which next Monday to this
| mater
Hon. 70. Toombs, of Georgia, has recently
prc sen.ed his views on The condition Of currency,
etc in lengthy letter to h9 Augusta Ccnsu i5nalst
| We quote the following
The deprecaon of the currency Whatever MAJ be its
| .fia or Inv wi III
amount Is cur monster evil The mischief 10 still within
our mower and we may sill remedy IT, ii we haze the
wisdom ifnn-ss and courage which the crisis demands.
IL irvolva our independence. We must DO j; re have
no alternative which freeman should oorsder; ANY soi-
Element with these mser, be mscreanIs nortl
ern border short of eternal SEPARATION and iDdepen-
deuce would be he'eonsummai0n OF all evils which
even the poE of God could inst on us in this world.
Therefore, whatever NAV be the cost in wealth OF re
turn 10 d sound currency, must pay the penalty OF
our past foc, and pay now. This depreciation OF
currency having been shoan 10 have resu ed chiefly
from the excessive iseue OF Treasury notes only
correct th. evil by stopping instantly any further as
Se under any preeIse whaeeyeT, and by reducing as
rapidly ~ possible present outstanding Issues. |,
r. qurcs large comprehensive and Cc ent measures for
their continual deduction, un they shall rise in value
and approximate as nearly circumstances will al
low to thc standard value If gold and sitrer.
Mr. Toombs argues that taxation and loans arc the
only means Of attaining this result. Ia regard to los,
he says:
Treasury notes are 10 great excess the boders are
anxiously hunting for a safe and profitable inVestment
for them The Government is perfectly able TO supply
hat Waat; heretofore it has not done So We must Is
sue neO bonds with pSincp pal and interest payable III
gold and silver cir equivalent, and adopt measures
| 20 make slch payment certain. This can be done by
mOr;g ,ging specific portion OF tie REVENGE 10 Tie
new Dond-hOlders adequate 10 the pay meat OF both
principal and interest as each may respectively fall due
coupled with clear provisions that their shall ee
rrepcaabe until the mortgages paid aud that these
taxes shall ouly be paid in gold and silver or the cou-
| Oors of the bonds 10: which they are Pledged.
These views are, in the main, concurrent with the
opinions frequently expressed in this column The car
dina point is that we approximate as carly as
possible to a specie standard Ia order to do this, We
loust have new emission of Treasury notes, witch
should be constituted legal tender, but wL;h, ut a
events, should be made iundable after spec ted peri
% in nsw bonds" interest well a. principal payable
in specie or cotton. No oher notes should he Issued an
the Confectionery, and the present currency should DC
recalled by cing nducame to holders 70 fund ana
exchange them. The issue should be limited to the
lowest possible amount and funds required by the
Government should be raised BY tlxaion and loans.-
If we could reduce the amount OF currency to one hun
dred millions Of dollars and keep il at that maximum,
prices would fall and the Government wond require,
comparatively, bui small sum 10 purchase supple
which the tax il kind failed to supply. We are glad
that the attention of our public has been directed
| to this subject.
The Columbus Sun says sugar is worth 81 80
C02 80 in taat market bacon 81 2j@l so; flour 500
per bb. No change in cotton, corn salt or moasseF.
The Danvile Register states that $4,000 OF
tie bonds of the Corporation OF Danvlle were sod at
auction in that town, on the 10Th inst, in sums oil
50 900 ana s. 900, at $20l to 1921. From the same
paper We copy the following remarks conceraiDg the
wheat crop:
People are puzzled to know what is become Of the
| crop OF wreat gathered this ye r. These who wan
bread trying buy; those who hold tho wheat arr
trying to avoid scing-holding on Tor famine, prices
and Tie Government c)m,ug.In between the two, pro
posing sete the matter by mpFessng 1t for the army
We think, with the present disposition OF the farmers
| the press masters viii get The ions shsIe.
| The Richmond millers advertise tina. they viii pay
Government prices FOR wheat and sell the Hour ~ c.s
to lonsuners grind for the Confederate Government
They refuse, ao to pay more los wheatthan the pric
fixed by the Commissioners in their schedule CT rates
for tie State Of Virginia. and The resu. Is that they arr
| receiving very smsli quantities.
| We are informed that Hessrs. Keen Walker, whs
mills this place, mike the same proposition viii
tie Richmond establishments, viz 10 Iay Government
prices wheat and sell the -four to consumers ct cost
No doubt the proprietgrs toe O,her pl here noul(
ccnssnt TO asniar Arrangement. This will not how-
ever, bring the grain. a. we have stated, the PFC:
m4s;er is the only person who get hold OF an y
the new crop and thearmy must be fed he is hay
| iug pretty much his own way in the matter.
! DARN IN CAMPBELL COUNTY Fol-
I'm, l. O., ~