Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1863-11-25

ernment securities in the thousand millions
loan. This latter would be a very desirable
simplifcation of our present evidence of
debt one class of notes and one class of
securities, instead of many. 1t would be
the E Pluribus Umum of finance. The
danger we have apprehended may be guar
ded against by leaving it discretionary with
the Secretary of the Treasury what amount
Of the taxes, not more than sixty millions,
shall be required in specie or coupons.
We commend the proposition to the con.
sideration of our Legislators and financial au-
thorities. es.-Richn1ond Sentinel.
The Bank Convention at Augusta.
At late hour last evening, we received
the proceedings of this important body
We are able, by the kindness of friend, to
give corrected report of the fkal recon-
mendation of the Convention. The follow.
ing is the report adopted
Whereas experience has demonstrated
that the dues to be- collected by the Gov
ernment, and for which Treasury notes are
made receivable, are inadequate to absorb
q sufficient amount of the notes, to prevent
the evils of an excessive paper currency !;
and it is deemed essential to the interests
of the people and of the Government that
the right to pay all Government dues in
their issues should be waived by the people
to certain extent, that measures be adop-
ted by the Government to redeem or fund
the entire amount of the said issues, or SO
much thereof as shall reduce the sum of
the currency to two hundred millions
or less. For the accomplishment of this
object, the following measures are re-
commended to the country and the Gov
ernment by this Convention
1. That new issue of coupon bonds'be
made to the amount of one thousand mil
lions of dollars. The bonds bearing six per
cent. interest-the coupons payable annu-
ally in coin; and that, in future, to meet
the wants of the Confederate Government,
the policy of issuing Treasury notes be a.
,bandoned, as for as practicable, and tax
sufficient for all the requirements be adopt
ed as the true policy to sustain the credit of
the Confederacy. e
2. That an Act be passed .levying tax
of sixty millions of dollars, to be- collected
annnalIy during the whole period ofthe
said loan, for the payment of the interest
on the above bonds, and that the good
faith of the Government be pledged for the
continuance of such tax until the maturity
of the said loan; and that the said tax
shall be paid in coin, and that the coupons
of the above bonds be received in the pay
ment Of this tax in lieu of coin.
8. That before the said bonds shall be
offered for sale in any other manner, they
shall first be apportioned among the States
of the Confederacy, and thata commissioner
be appointed for each State to make known
to the taxpayers in each Collection Dis
trict the necessity of providing themselves
with sufficient amount of bonds to pay
this specific tax, and who shall sell at par,
to the taxpayers ip each District, the a.
mount of bonds required to provide cou-
pons for the payment of their taxes; and
that all bonds heretofore issued by the Gov
ernment and Treasury notes of all issues be
received in payment for the said bonds and
that the said payments shall be requiredin
convenient iDstalments to suit the circum-
stances of persons Of moderate means but
the privilege of paying in full at any time
shall be accorded to all.
4. That all existing distinctions between
Treasury notes of different issues and dates
be abolished. - ".
5. That the interest on the stock of the
fifteen millions loan be paid by checks on
the Treasury, and that the said checks be
received in payment of the export duty on
cotton in the same manner as the coupons
on the bonds of the same loan.
6. That FIVE per cent. call loan be es-
tablished similar to the first or original call
loan, and that all Treasury notes be recei-
we'd at the Treasury therefor; and that the
present five per cent. and fourper cent. call
loans be abolished.
7. That the hight of the holders of Tree
sury notes which upon their face are funda-
BILE in eight per cent. stock, ought to be re-
cognized, and an eight per cent at
a short period, be provided for that purpose
and also that all the privileges attached to
the original six per cent. call loan be re-
stored to the holders of all outstanding GER
tifcates of that loan.
s. That an increased duty be levied on
all imports and exports during the continu'
ance of the war, and that the same be col.
lected in coin or approved bills on England
or France, or in the interest on the fifteen
million lean.
8. That an Issue Department be created
by the Government and kept seperate from
the Treasury Department, whose duty il
shall be to supply new issue of Treasury
notes in exchange for the amount that may
remain in circulation of the present issues,
and that the new issues shall express or
the face of the bills that the same are re-
ceivable in payment of oil public dues ex
cept such as are specifically required to be
paid in coin.
10. That there should be an issue of bills
of a large denomination, viz: $500, 81 ,OO0
$4,000 and $4,000, sufficient to facilitate
the transmission of funds and the settlement
of balances. .....
SUBSTITUTES IN THE ARMY.-It is said
that the books of the War Department show