Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1863-11-24
MISCELLANEOUS. :
RICHMOND, Sept. 1853.


nu., TREAsUR Err, ASSISTANT
anE I'd Dep0sstaries of the Com
fedefate States: o,, a..
The present is deemed fitt ng o.. ~ hava beer
attention of the public 10 measure " hlcl -unt O
provided by Congress Tor reducing the an..
Treasury Notes in circulation.
l. The first and most impo1 5ant Of these measures
is the offer to the public of $50 00 900 of six per cent
20 year bonds. with interest pc able annually in
ton con The cotton is to re delivered at one Cf
seaports, at the valuation Of six pence stering
l2L cents per pound for New Orleans midding At
the present prce of cotton at tie ports this inter-
est is equal to about 20 per cent. per annum and
ought to raise the value Of the Bonds beyond any that
are the ma ket. After al advertisements for
bids the price OF the Bonds has been adjusted at so
per cent. premium; and they now offered to the
public at that rate By paying in 500 in Treasury
Notes at any Depostary of the Treasury, the bolder
may obtain Bond for Loco payable in coin in 20
years, upon which the interest be paid annually
either in coin or with 500 pounds of cotton of the
quality of New Orleans middlirg & The advantages of
such an investment are obvious. Neither principal
nor inteies is subject to depreciation from redun
dant cul rency The principal is ss secure the for
tunes of the Confederate States and the interest paid
during the wi at present rates of cotton, pay 90
per cent per annum and after the realize SIX per
cent. in coin or in commodity OF go lal value
Q. The second measure adopted by Congress, the
furnishing of Treasury notes issued since the 9TH of
April 1865 iE six per cent. bonds atany time with
in tw elve months after the date Of issue.
The holder may obtain for these notes at the Trea-
sury six per cent bonds, payable in 3t years but
deemable after five years. the interest payable semi
annually.
g. The third measure is pres ented by the offer of
five per cent Call Ger ifcates upon the deposit the
Treasury or any Depository within six months OF any
of the notes issued the 5th April, 1868. These
certificates convertible for months into Trea
sury notes of tie date of those deposited and if not
re-converted within that time, Trey entitled to be
funded IN per cent 80 year bOEds redeemabe alter
five years. with interest payable semi-annually.
4. After IL months from the date lssue all Treas
ury notes issued since 9th April 1862 end also all
Treasury notes bearing date between that date and the
1st of December 1862, fundabe In four per cent.
holder into four per cent. Call Certificates emitting
the holder, at any time to Treasury notes OF similar
character with hose paid in by him.
These various methods suit the convenience OF diff
fsrent portions of the community and should all be
urged upon their attention. But would more par
erfor inducing general cooperation in the first. If
the holders OF tie Confederate Currency will now, by
united effort lend their aid, $50 600 at once
be removed from circulation. Such result will be
douplybenefcia to every purchaser He will first OBJ
tain for the Treasury notes bond payable coin,
with the Interest secured in me iium, which cannot
be depreciaed and he will improve the value OF
the Treasury remaining in his possession.
trust that Ii you Will at once take proper meas
ures to present and urge these views upon public at
tention there will be prompt aad effective response.
The authority heretofore given to you to sell these
bonds at so per cent premium is extended until
further orders. As all the bonds bear date 1st june
you will add the accrued interest the purchase
ey, and accept payment in any interest bearing
Treasury notes onehat at east 0. which shall be of
date subsequent to 5th April 1868.
Respectfully,
Your obe6ient servant,
G.. G.. MEMMINGER,
Oct. 81 Secretary of Treasury.