Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1863-09-01

/ From ths Richmond Whig q.
! The issue Of Confederate treasury notes goes
i On as raPisly sver. and a still further daprs-
/ cistlon Of the egrreucy seems Inevitable True,
/ in e shGrt time, II more energy is exhibited. the
1 collection of the tax in kind viii relieve the
I pressure upon the treasury tJr the pager money
new rsgEIed to pay for army supplies and the
/ coIlsctiOn Of the taxes oE real estate income.
etc, viii krag back ts the Treasury a consider
able Fsrti0n Of ths notes hsret0fors issued But
I We cannot new rely zpon the collection Of taxes
fer the restoration Of sur currency 10 a hssith7
I condition. lt is very difficult, indeed, to pre-
/ scribe Ru eaicseious remedy, bat 70 Is obvious
/ TO every rejoicing person that something must
( be done
Oae Cause Of the depreciation Of oar currsneg
/ is a Pervasing distrusG Of its ultimate redemp-
ii8n. It is useless to attempt to disguise this
/ fact Our recent rsverses have mauifsstly in-
Bpired the tiHgid sad seniI0ysl portion Of the
/ psOBls wiik the apprehension that ths Yankees
/ viii ultimately succeed in the scheme of subiu-
| gatsR. We Earely state the fact witbout di-
/ crossing to sAaW yhe absIrdity Of Tins fear The
[ ORiY argument, however, which could be sue
/ cessfHlly ased 10 convince ths class Of persens
of the probability or certainty Of cur eventual
| triETnFh, would be q sigHsl victory or two over
/ the enemy By Confodera.s arms, and these, we
/ trust will he achieved ere long
Another cisss sf per1ous believe that we viii
establish our independence, but viii be unable
for many years sf-sr tao close of taa war 20 re-
deem tie outstanding issues. We forbsar 60
discuss the sasstiOn.
The influence Or these opinions combine with
the rsdundanca Of the currency ts impair the
pubie credit, TO iahats prices, and 60 f1s FER
speculation ans ex.rsvagRnce. The former is
st present beyond eEis.ssi-c control I may DO
in tae power Of Congress to enact measures
which viii effect q reduction af he emluut or
eurrengy The "5em rp-tiziaeH system hrs
been tried aEd found wanting. The cessation
si the privilege Of iaHding and reduction of the
rate sf interest have proved ungVslIiug ozDedi-
ents, aud some other plan for accomplishing sho
dsaired end must be rssortel to
i may be that tba Government viii be com
PEELED TO make a fresh start flaucinIiv issu-
ing, after a 6xed future date legal tender nots1.
fundabla 81 the end or one or two years in bonds
bearing four per cent. interest, ps7a5 ia semi
aHnEs,y in gold or cotton, T1esa issues
shsuld be the equivalent Of gold in tho Conieds-
rate States, aad would, 5ey0ud a doubt, be-
aagerly soHgbt after by all classes Ne other
Eotes SHOULD be issHed, a1d the prassut circula-
ten should be recalled by pur5uasi7e means,
such as Offering ts al persons vino viii fuud
any ameunt of the present Currency, an ex.
change of legal tenders fIr old curTsucy
20 the amount sf sne-ihira or ous-fourth eff
the su8 landed By them. For example, 4
weuld take $4,000 70 the Treasury and invest
them in bends. H would theu b privileged
to presezt another $1,000 or $3.50 (a8 the case
might be) and receive in exchange for them sn
squsl amount Of tho legal tender n5t1s Of
sssrss, he would net hesitate 70 avail himself
Of the privilege; nor would he bs TsiUctaRt to
make the investment which weuid secure this
privilege. In this way large smeaHt Of the
present sirculstiea would be so9R Withdrawn,
and all would ultimately be absorbed
The issue of legal tenders should bs limited
70 500 600 600 at tha outside, and ali funds To-
qulrea By tie GOveTHment, bsyeud this amruat,
should be raised by loazs and taxation.
This project, Like al otheTs, may bo open to
abjscsien, but a. the ssras lime msy, at least.
convey hiatt or two which would orevs useful
in the solution of eur GasRcial difficulties In
thie a.irit 81 ia an L.--sia-l