Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-12-02
Judge Gillian has appointed Monday the 7th Of
December, as the day for holding Court of Oyer
and Terminer in Randolph County.
THE CURRENCY.
For the STANDARD.

1t is proposed to advert mainly to such facts and argu
have not hitherto been exhibited in the public
on the subsct and mpaeny await any suggestion like
ly to prove ava,ling. shall be extremely succint
Condition Of the Confederacy the beginning Of the
war as to ,srtsry to 1 and popnaton The South claimed
States and 2o,OOoOOO We have lost temporarily say
States with 600 people, leaving of people
of whites at the start less than onshd Bear in mind
that the Yankees have under control States and " mil
lions of people, Increase over e1ae.third
IL Our circulation Our circulation, Mr.. Memminger
thinks no doubt correctly. ought to be ordinarily 5O O0
OOO At like rates the Yankees medium oud be at first
2s5oOOOuo Our circulation. however sooOoo> 90 less
the funded debt say 4OV 0Ou0 leaving 5t0QOO
600 at most. The Yankees circulation say ,5oOo0O
OOO-2s millions of people using this amount while ~
million emily use the Others or in fact $500 to the head
ry S2 the person, $i2 SO their currency ought
to be ak times better than ours S BY equal to ESQ
Theirs stands at 30 per cent discount god being the
better than Hence, theirs ought to be times
as good and 20 to above it therefore stands
only less than to l. In other words have peary
times much money for present use-suppdsug they
Our circulation therefore has simply kept pace with
Claims having lost in this respect somewhat have
surplus extraordinary dmiuuon Of territory, having led
to the loss of Of curtalment The surplus though
natural is yet apparently unnatural A natural remedy
only will not answer The redress must be er.remr.
Ill. Artificial and indirect causes. 1t shown above
that we had times too much currency taking
backs as standard Hence supposne pound of cotton
ought be worth 10 cents it will now bring 70; bar
rel of corn 49, ought to be worth S2l horse s0
now 800; negro at 900, 1900; bacon formerly
at l2L now bringing 80 cents and so on
But it is be considered that bave failed aver.
age crop that coored labor is less and less efficient
that horses and cattle than thngs that
negroes doubtful property with some; that white
labor nm to has been Withdrawn from production
that where there uctuaou between the standard Of
to it is tceabe to these and similar causes; but still
adding that proportion 70 the surpusage Of money,
" Question of further Conscription The great oues.
ton of labor then comes up How far can CO. in with.
drawing labor from the country? IT. with larger terri
tory we were able produce barely enough the army
and people, shall more labor be withdrawn from less
fertile and extensive SOIL thus increasing the ratio of
against us? As nsw appears ample supply Of pro-
would tend to lessen the depreciation Of
requiring less to buy the quantity. IT, therefore,
further conscrption of every os Tor up to SO
years. be madeor rather let me say, in every two
and half negro labor growing more efficient TO
make the most of it, how will the question of currency
affected? Still greater issues will be required
But in withdrawing one person in five from labor, we
merely lose his labor but have to support him alto
geher thus doubling the expense los, that loooo0
men thus put into the army would equal loss Of mnre
than the farm and therefore the cost of
food beyond present limits thus deprecang tn.
cy No country can thus weaken it's labor beyond 45
it is the MAXIMUM the turning point between the Treasu
ry and War Departments one gains the other n-
stantly loses.
v Mr. Chase's and Mr. Memminger's money plans. So
then otter ALL there is not much diere bet
the naucers Mr. Chase has kept his currency from de-
precating mostly by force of arms the lawyers say
Had he not Mr. Memminger's territory to difHsA his
money in, using eight State. Of his. and nine millions f
people, the discount his funds would be to l. it being
now so cents .he dollar Give Treasurer back his
proper domain aud Inhabitants and let him d.tflse the
currency, and YOU enable him to maintain its present
satas Of to allowing for raceabe discrepancies if any
Again The army does not the money paid to it
as wages monthly, but quickly returns it Do ctcuIa.
ted at home; and the Yankee army is only 100000
strong, with home population Of p millions and
100000 With population of NJ millions or less at home
their army pay Is some times more scattered than ours
aud therefore unable to depreciae the currercy like
ouis Besides there being and larger capita is,l
North these absorb largely by deposits the circulating
medium. which here kept constantly passing from hand
hand in wild speculation In other words, MIR Mem.
mingers plans would very nearly hr Chases apd
pice And were the green.backs crowded back to
their old limits Of territory. coming down 10 Maryland
and no further, would scarcely any florence BE-
tween the two sets Of currency.
In my next propose a remedy, which may be styled
the magic remedy for the currency expansion: