Washington telegraph. [volume] (Washington, Ark.) 1839-1871, 1863-04-01

SUSTAINING THE CURRENcY.--We have new
er apprehended nor hoped that the sction OF
individuals, or of combinations, could have any
general or permanent effect in depreciating or
sustaining the Confederate currency. Its val
ne depends upon fixed and immutable laws OF
finance. 1t depends first upon the ability Of
the Government to pay the interest," ana her
good faith in avoiding reputation. upon tnis
subject there is no longer any doubt Foreigu
nations and citizens Of the North, are receiving
this currency, Tor tie bonds in which ~ \
.un6able) at rates which show firm reliance
upon the success of our cause, and the good
faith of our Government.
Its value in market, this being assured ue-
ponds upon the quantity in circulation "hen
that amount exceeds the necessities Oh 'ho
community as a medium of exchange 1t deple-
ciates accordingly But it is none the less val
liable as an investment, and the natural ten
dency of things is for the surplus 10 seek IN
vestment in the Confederate bonds, as the most
efficient means of making it available as prop
erty.F In1S ullulDiSbto 'hN ~
preciates the value of the remainder.
These things work, as we have said, by IN
evitable laws. If Confederate money is not
worth par. all the clamor Of the community
cannot force it into par circulation. If it be
really worth its face, no man nor combination
of men can discourage the community from re-
ceiving it.
For ourselves, we believe that the money Is
cood We base that belief on fair considera-
ton of the good faith, and the resources OF
our Government, and a liberal estimate Of the
probable amount of til debt al the close OF the
war. We do not doubt that our people will be
willing and able to pay the interest. This be-
ing done, its effects will be to appreciate the
bonds and enable the Government TO diminish
the rates of interest. thus gradually tighten
ing the load, and rendering il each year easier,
as our resources revive and become productive
We have no hesitation in receiving Confederate
same. not because it i patriotic, for We know
human nature too well to rely on any such sp-
peals where money is concerned, but because it
will be good and safe business transaction
So far as the action Of individuals may have
local and transitory effect on this currency,
it may be deprecated in several ways. First,
by refusing TO receive it in exchange for pro-
duce. No one dare d. that. lie would cut
himself off from all intercourse and sympathy
with his neighbors. Another way is. hy refl-
sing to receive it for debts This. except un-
der peculiar circumstances, is wrong. But
there is another way which seems little consid-
cred. tits by betraying 4 nervous anil fdgetty
11Iiety to get rid OF il, a. Id il were something
dangerous 10 hold Ii beua,s want of conf
d,nce. 1t reminds VI III play amongst the
children. called Jacks alive" lighted
straw is passed around circle, and each one
is required to hold it until he repeats a certain
verse before he passes it t. the next. The one
in whose hand tie straw expires j. burdened
with some penalty. The intense eagerness
with which each one hurries though the verse
as the straw begins TO 60 cut, constitutes the
excitement Of the game. We dislike to see
our community playing this chiii's game aud
We aiNAN> tHlih OF u NHtu we b'Huli a etfOr
who has for years perhaps enjoyed borrowed
money, without man Testing AMY anxiety 10
discharge the debt. but by indulgence VI his
creditor using his means in other WAYS. Now
hunting his creditor down with haul~fnl rf
Comfe crate money. III force ii upon him or
subject him to the odium III refusing i'll Where
men have heretofore asked indulgence Of cred
itors when able to ply. AMI now i.-ist up.n a
settlement. they show concusivcly that they
do nos consider Confederate money To be a,
valuable ~ other money, aud thereby 10 the
fail share tow. rds is depre-ia ton ia public
opinion.
1t i best FOR all to receive aud pay out this
curr, ncy in business TRANSACTIONS 1t j. best
for creditors t. receive it ia payment Of debts
best for their own Interests; tor il win be n
long time before coercive cd cctious will be III.
Lowell and the dangers Of l,ss more than coun-
terhaiamce any possible depreciation ~ the
currency. But " here creditor refuses, antl
a d'b'or urges its reception. II seems III u~ tEat
the east said about it Tie better I'M hnth par-
te-, as both of them manifest i frur Nj the cur
rency and, so far, stand equal tuO.inE.