The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1863-12-02
Plan Of Finance Of the Bank Convention.

Plan Of Finance Of the Bank Convention.
The recent Convention of Bank Officers
At Augusta. Geo.. wss attended by DeIs-
gates from twelve bsnks in Georgia. two In
North Carolina, six in Tsnaessee, one 10
Virginia. and eleven in South Carolina.
The North Carolina Banks representa-
we're the Cape Fear By WIN. A. Wright,
Esq. and the Wilmington Commercial By
o. q. Parsley, Esq. j.
The foilosiog was the result Of the de-
liseratisss Of the Convention, being sub-
s'antislly the plsn proposed BY the Banks
Of South Csrsliss, heretofore psblished.
Whereas. experience has demsnstratrd
that the dues TO be collected BY the Co.
vernmeat and for which Treasury sates
are made receivable. are inadequate 70 a.
serb . sufficient smount Of the notes, to
prevent the evils. of an increased psper
csfrency, and il 10 deemed essential 70 the
interests sf the people and sf the Govern.
ment. that measures be sdspied BY the 90
vernment 10 redeem or fsud the entire
AMOUNT Of the said issues. or 80 much
thereof Is shall redsce the sum of the cur.
rency 10 1.-Two hundred m,lliens ar less.
For the accomplishment OF this object the
following measures are recommended TO the
c"ustry and the Government by th's Cos-
veniion:
l.. That new issue Of Cospon Bonds
be made 10 the smssnt Of enc th6psand
~illisss Of dollars. The bonds Bearing six
per cent. interest-the Coupons payable
snnuslly in coin and that, in future. Il
meet the wsnts &c the Confederate Gsyfrn.
meBt. the policy Of issuing Treasury notes
be sbsndoned. . far as practicable, and q
tax sufficient fsr sll requirements be adopt
ed as the true policy TO sustain the credit
&c the Confrderacs.
Q. That IN Art be passed levying tan
Of siIty millions, TO be collected annually
during the whnle period OF ihe said losn.
l"r the payment ~ the interest on the above
bonds. and that The good faith Of the Go
yrrnment be pledged for The continuance si
snrh tar until the Daturity Of the said nan
and ,hyt the said tax shall be paid in coin
and that the coupnns uf The above bonds bs
received IN the payment " this tax 10 lles
of coin.
3. That before the bands shall be aHerrt
Tor sale in any oiher manner. or Of price
above par. they shall first be- apportiprst
among the States nf the Contederscy, and
that Commissioner shall be appointed fol
each State 10 make known 10 the tar psv'
ers To- each collection District The necs.
sity Of providing themselves with sufii
cient amount Of bonds to pay this specific
tax. and who shall sell al par, 10 the ts'
PAYERS in each District. the amount q
bonds required for the payment of fheIl
taxes; and that all Bonds and Csr,idcsts'
! Of stock heretofore issued AID Tressar,,
notes ef all issues he received in paymeal
for the SAID hopts, and that the said pay
ments shsll be required 10 convenient ~
dalments - sui The circumstances IT per.
.nn. ~ moderate means +; but the principle
oi paying in foil a. any time shall be nc
corded 10 alt.
4. That all existing distinctions briwest
, treasury notes ni different issues and date
!: be abolished.
i s. That the interest on the stock oi th'
fifteen millions loan be paid BY checks %
the treasury, aud that the said checks b.
received in payment Of the expert duty 81
cotton Ia The same manner as the coupons
on the bonds Of the same loan.
6. That Eve per cent. call loan be e.
. iablished similar TO the first or original cal
loan, and that all Treasury notes be recelv
, ed ut the Treasury therefor. and that th'
J present five per een.. and four per cent
! call loans be abolished.
2. That the right Of the holder of ,h'
|. Treasury Notes which upon their face ~
J fundable in eight per cent. stock ocght 7
be recognized, aud an eight per cent. at