The New York herald., 1863-09-02
Rebel Currency.

LETTER FROM MR. MEAsIISGER.
The following letter from Secretary Momminynr 10
Senator Hunter relative To the currency, u published -
treasury DEPARTMENT, oos'EDsaan STATES Aasln'A.
RciMosD, August "a, 1863. !
Hon. X. NJ. 7 HusrkR, Ii yds, va
SIR-ln reply to your inquiries about the huances ]
sen YOU a ndensed statement ot tho OF Treasury
note, funding operations o ac Treasury. You
will from THIS statement that tho Funding has been
emnently successful and you will learn also that tho
Of andng Trca ury notes Is stl wihin the
linn Is u the depreciation which reported TO Congress at
the last session. Ny report then estimated the amount
Of cscuiilon which the country could probably bear at
III statement now made shows that tho outstanding
Treasury used currency amount almost
TO three times this amount But, whom y considered
that very arge portion % these notes across tho
Mississippi will be apparent that In tho Atlantic states
Of three 10 he Is rather than under ne
mark Two absorbents are now added which will keep
down the excess from issncsnamey the taxes and
the Of cotton bonds ard when the tax IA kind begins
10 contribute It's portion TO the support oi the army there
evoy reason to believe that tho currency can be vel
sustained
IL IS obvious, from this statement, that The popular
OF estimating The value Of the currency BY
parison wa gold Is altogether iaacious Tor while the
actual currency has ony been Increased three
fold its proportion 10 gold rates At more ihan double that
amount The tact IS, as you well know that. situated as
are, gold h rs much commercial cmmodity as pla
tina % tin. and us pce governed by ihc aN o; demand
and supply. As have already shown, In the report re-
prt eerrc To- wheat and corn aiotd much moro rcla
bic standards o value when their prce Is not conir lied
by m och obstruction aud, by referring 10 these
will be that the currency has maintained itsc at the
raiin winch the outstanding issues indicate You VIII
perceive BY the statement that uniting all the various
appliances inudng there has been funded Ia bonds
t2 s03 .0U, which. according estimates. there
yet ~ be- added about SO oO0 0u0 which yet Va
the the treasury officers funded making IN
all ab ut 02 900 oJ0 Add 10 this sl5 900. deposited
ths i've cent call Loan and have of
nearly s3ls 900 600 Withdrawn from the currency.
this r~ut = certainly very favorable and shows that
sacc sslai any "a had anticipated II " somewhat
remarx.ue taai the Yankee government should have
ads ted ex city the or wthdrawing their
crc8 alton, and according - statement published ia
I'm = Hsyhanh Migi-tns Tor July, they have funded,
TnsNn - hat n
currency and ", wheE Congress meets you VIII
ali address yourselves vigorously 70 meaxures which win
restrsu further shall be fully able %
uainttia ou case wond suggest 70 you two matters
e. CONSIDERATION Que : tho export duty which pro
aud tue other renewal % tho call loan Tor all
Teaslry noca upon the principle with the sx per
cal Ioan which reported =. the last session.
"a wcrth he experiment 10 try whether, by allowing
~ attract all the Treasury no,
G. q MEuMlSGER
Secretary OF the treasury.
srsrMKvr oruraspiSg TREASURY sorss, g,
Total of kinis general currency notes. s52s ia sos
lst,nsied on hand for cancellation To,i34soo
rc,ai .........................t t4s2 90 .sos
and PROBABLY beyond tho nississippi iso.oooooo
s1oas,s 500
--1a1s@T " T-SfS fsr5 wairs TrxUsD
TxctpDNa sysus raoDccs
Total OF me hsdred million loan. 500 900 900
FUNDED since February co. 1853 ....... l2l AIS 370
Funded q notes, Nay 10, iseS..... soss,Soo
Total ses2 .soa go
Gu hand 70 se funded, vs. sss@a,s....... 100000
Total funded 9302 .4os e.0
Five rer oeot ca, rarity fapds1 ........ isA42.ooo
.tjl7 $40 oTo
reported Decas or Union Troops In
Grr~nhs Ser Cou.sy, Wa.
The fcllo~ing rebel despasch received In Richmond
a. ,he 2sth ". -
wsus scrssrs srrso., VIA rrrIs,l
Angrst ~, 1858.
Tsc@nera > CoorKa -
We the sucmy yesterday morpsar about q mile sod
kYn fosa kis psce. the road leading 70 the wa-m
Sprags We fought from nnc o'chrk The uovn,ny 10
sewea N the evening Every stack nsds ny srs en~cv
r.pa1i ~ night escD sds occu,asd Same post
they kad 10 tho morrsg THIS morning the enemy
stacks. which sndsoseiy re,s,sei
~lnn he abrJonsd bis rpstiou and tetressed tswarns
Warn Spfsres pur~uod by cavalry and .artiiiery rb~
srp. the ffrsf hrtgafa q tnis army rnl
Yei a~1fe j. iaiun csmnanding. srhe wers
spsi tAsee sssssnf song. s.h six p'rces o. sr.erv