Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-06-25
TREAS URER 5 OFFICE.

. TpEAsUnEas OFFICE
To the SheriGs and Tau Coect5rs cf Eorth Cardiac
Ooder the act Of the nfedegats Congress the 23t
notes, tn undabe divided into three c!asset
! J. To = h Sc dated prior TO December lst, 1862.
Z. those dated between lst December, 1882. aDa 9Th
?. Those dated en- and after 9Th pr1 1903
The first class is undahe in per cent. bord until y e
ls August neX after which they not tuDdabe ali.
The second class also fundable per MT bonds
ont the lot August ne x, after witch L iundaDie
day of the month printed red ink face Of them
IN PER cent bcnds; after which they fun3abIe
The faith of the Confederate government is pledged for
the ultimate pay al OF these and all of them
are receivable ia payment of other dues to the
/ Conf derate government any time.
At the time this Congress passed. the vast amount
of this currency circulation had lis value and
the further issues which Unavoidable were kelly to
produce ruinous depreciation.
The pol cy OF Congress remedy present and pro.
spectVe evil have been diminish the amount OF
l. To induce the holders issues then ont ito wit
the first and second casses) to tund them by
usIs next by allowing TIL that date liberal OF
10 have new issue out the 81 cass by the 1st dav
OF ugust, onda5ie at higher rate of interest than the
old Issues, which would dep the these old
snes thus operating the holders OF the old to
ud mem DoIh op Ihe>ope OF gam and tie fear OF less
j. By the collection OF q tax which 1t supposed will
absorb one hundred and twenty five millions.
80 prevent future redundancy of the currency by
limiting the new issues to fifty miliors per month, and
The Legislature of Virginia, with view, es presume
to cooperate in carrying the views of Congress- and
diog that only the id of should received
in payment OF taxes due and more recently
the B9nks OF RchmoTd, doubt with the same objects
have resolved not to receive deposit the ,egae Of the
hrst class The Banks Of Petersburg Lynchburg and
OF the otcet southern States, know still
ceiye all the ssues but whether they continue TO do
So alter the lst OF August have been unable
tain.
The second section of ordinance No & February session
or our Convention, cOmpe to
no es IN payment OF taxes and gives forbid
you tc receive class Of II; and msy
ne effect OF the act OF Congress be to make
both the first mentOnd classes of
the fist Of August whereby the state County Treas
ures may be tuppled with unavailable money. Gov
ernor, with the advice of his Council has e ra
session OF the General Assembly to goth
INST TO consider and decide what ought done in the
premises
1t is expected therefore, that you will abstain from col
iecng taxes IN the old issues until the he egs
latuTe shall be known.
IN the time there should he no paric among the
people this subject All have opportunity TO fund
t The lst OF August pay the large the Con
sembly should decide receive the issues Of
the aeccDd class which will continue be nearly as
good those Of the third class, after %Le August
the people viii be nCOmnoded materalv IL paving
the state and County taxes and hoped that
of the first class will be nearly all absorbed by n and
Ia paying the Confederate
This full explanation made enahle you clearly to
understand The subject, and 10 explain others.
Until you receive further Instructions you therefore,
advised to receive only pay county
the Treasury notes OF this State notes Cf ali the
Banks of this State gold and silver CON- and
Treasury notes dated and alter 9th OF April 1853
the interest bearing Treasury Confederate
States. Very spectiuiy, Il
JONATHAN wGrTH
Public Treasurer.