Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1863-11-18

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unreasonable time from consumers.
By order.
Isigned,l s. CooRER.
Adj't and Insp. Gen.
COLUMBIA, s. c., Nov. 10, 1858.
At convention of representatives of the
several banks in this State, in which the
following banks were represented, viz ::
Bank Of the State Of South Carolina, Bank
Of Charleston, Planters and Mechanics
Bank of South Carolina, Bank of South
Carolina, State Bank Of South Carolina,
Union Bank Of South Carolina, South Wes-
tern Railroad Bank, Peoples Bank, Far
mer's and Exchange Bank, Commercial
Bank Of Columbia, Merchants Bank of
South Carolina at Cheraw, Bank of George
town, Bank of Chester and Planters Bank
Of Fairfield, the following was 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
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, and measures be adop-
ted BY the Government to redeem or fund
the entire amount Of the said issues; or so
much as shall reduce the sum Of the cur
reney to two hundred millions $500, ,000,-
0OO) or less. For the accomplishment of
this object, the following measures are re.
commended to the country and the Gov
ernment by this meeting:
/. That new issue of coupon bonds be
made to the amount Of one thousand mil
lions Of dollars, the bonds bearing six per
cent. intereat-the coupons payably annu.
ally in coin.
3. That an Act be passed leyyiug a tax
Of sixty millions Of dollars, to be collected
annually during the whole period Of the
said loan, for the payment Of the interest
on the above bonds. 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 lien Of corn.
8. That before the said bonds shall be
offered for sale in any other manner, they
shall first be apportioued among the States
of the Gonfederacy, and that a commissioner
be appointed for each State to make known
to the taxpayers in each Collection Dis
triot the necessity of providing themselves
with sufficient amount of bonds to pay
this specific tax, and who shall sell at par,
in each District, the. amount of bonds re-
quired and that Treasury notes of all is
sues be received in payment for the bonds
a. That all existing distinctions between
Treasury notes of different issues and dates
be abolished.
S. 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, aud that al Treasury notes be recei'
we'd at the Treasury therefor; and that the
present FIVE per cent. and four per cent call
loans be abolished.
7. That tie right 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 am eight pea cent stock, at
a short period, be provided forthat purpose
and also that all the privileges attached to
the original six percent. call loan be rein
stated.
8. 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.
9. That an Issue Department be created
by the Government and kept seperate from
the Treasury Department, whose duty it
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 on
the face of the bills that the same are re.
ceivable in payment of all public dues ex-
cept such as are specifically required to be
paid in coin.
10. That there should be an issue of bills
of large denomination, say 1000, $4,000
and $4,000, sufficient to facilitate the
transmission of funds and the settlement of
balances.
The following gentlemen were appointed
a committee to present the foregoing to the
convention of bank representatives, to be
held at Augusta, Ga, on the 10th instant !:
Messrs. Geo. A. Trenholm, Charles NJ. Fur
man, NJ. G. Mordeoai, Geo. Cameron, Al
Ian Maofarlan.
Extract from the minutes.
J. A CRAWFORD, Chairman.
ALLAN MAoFARLAN, Secretary.