Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1863-12-16

The Scheme of the Secretary of the Treasury
for the Relief of the Finances of the Govern.
ate currency.
The following is the scheme suggested bv NJ. Memmn.
ger in his report to Congress- for the relief of the
meDt finances and the improvement of the Confederate
currency, which, Notwithstanding The crowded condition
OF eur columns, we present to our readers:
SCHEME PROPOSED.
l. That Congress forthwith authorize loan of 81 900.
100000 in six per cent. bonds the principal payabe in
twenty years. the interest semi annually to be extended
hereafter from time to tme so as to consolidate the whole
public debt
sell par many Of the said bonds as will be sufficient
to up outstanding currency and to the appro
prations made by Congress.
That the deposit Of Treasury notes account Of the
said loan may be received at the Treasury any Of its
repositories by Commissioners to be apponted5 said
deposits to be in Of hundred dollars "r in sums
of which hundred is perfect divisor.
Certificates shall be issued for such deposits which
shall enti,le the holder to bonds for the amount with
terest from the date of deposit If the deposit be made in
the month of January the bonds issued for the same shall
be exempt from the of per cent for the present year.
hereinafter mentioned; If made in the month OF February
they shall be exempt from OF the tax and made
in the month of Mlrch they shall be exempt from one
Fourth Of the said Officers oilers and seamen in
service shalt be entitled to exemption from the whole tax
for Gums paid at any tune before April LIST 1851
ard credits other than the issue of aotes hereinafter
menone which may be held the LIST Of April hext 70
he Maid on the list July onehaf in Treasury notes and
In case the coupons should advance in the market to
preium exceeding rs per cent. any shall be
pay his tax In treasury notes OF the new IS
sue with Is per cent added. -,
4 Within six months new and improved issue shall
he made of hundred millions of treasury notes in sub
sttution for that amount of old issues and all the old ls
sues 81 ali be anceed and the faith of the is
pledged not 20 increase said issues
Notice shall be given the holders of treasury notes.
(oher than the said hundred mons) requiring them
10 present their notes at the Treasury or at some OF
Repositories before the LIST ~ of April next and
ceve payment thereof in nds OF the said consolidated
loan default thereof the notes not brought IN shall
cease to be receivable at the Treasury for du
but shall remain evidences of the debt payable by the Con-
federate States according to their tenor.
In the States beyond the Mississippi the time m.
toned in the last clause shall be extended until the ss
day Of July.
TO- Six months shall be allowed all holders Of
to and register and verify their
notes as demands against the Treasury and exchange
same for certificate Of debit if they prefer to keep the
the Of the holder shall be endorsed tnsreo
after which the said notes shall be negotiable only BY spe
ca assignment and all notes not 80 registered WITHIN tne
same time shall be barred from any further claim on the
n. ANY holder of bond Of the Confederate States may
the into Of the bonds under the thus loan
the Der cent bonds at par and the others at proper
ate rate and the loan shall be extended 50 as to
/ bonds which may be offered in exchange;
r. The interest coupons of this loan shall be heid equiv
alent to specie in all future dealings Of the
and shall be accepted in payment OF tax hereafter
payable in coin.
u.s. The faith Of the government pledged to make ade
uaae provision for the payment OF the principal ana
eat of The said loan BY the continuance OF the tax
ike provision shs be made by direct taxes or by dutie
"a Ths notes Of denominations under IS shall not b.
| affected by the provisions Of this scheme