Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-06-23

that this moxnS TeptteMtoH, e!suoi iA
or 10 part. In fact il is the agency whioh
will prevent all necessity or excuse Tor repu
disticn, inasmuch AZ tho funding, thus On
couraged and hurried, helps to prevent tne
purchasing power of our remaining -noses
from going down TO zero; and keeps the
liabilities of the country within the limits Of
possible payment.
Besides, this constant operation Of speculs-
tors in frightening people out OF their notess
has an OWL political effect, IS we'll as ruin
GUS financial one. Evory one ought to know
and lay to heart the fact, that if we establish
our independence, all the treasury notes are
as good Is minted gold. To DO subdued
will neper pay ; ard with this conviction
With ali to win, or oil to LOSE, IN pocket sH
vel, AZ in honor-men will bs more Jealous
n vin the cause, or die. Lilo, indsed, would
bs a small matter to ssve oat of the general
ruin; because it would be the lifs Of teggars
IS we'll rs Of slaves.
therefore, it is distinctly disloyal to seek
to discredis ous currency, by scattering
abroad doubts and fsa,s. Tns Government
and the Congress-, we believe, have acted wise
ly in stimulating the funding Of notes and
diminishing (sfter smplo notice. the too 'ex-
orbitant interest On their bonds. We find
some appropriate remarks On this subject in
the Augusta "Oonstitutionalist!" which pre-
sent the case il light inseiligiSle to all.
aLet US look into tie matter little. By the
act CT August last Treasury notes Were fund,
able till LIST April in eight per cent. bonds
alter that in seven per cent?. Bat by the act
of April Treasury notes issued prior to lst
d scepi5er, except the two-yesr notes, were
fluid bio ill I'D April in eighspsr cent bondn
afterwards, till August next in seven per
cents, after lst August they are no longer
fundsble but they sle receivable, ill paid, ior
nil Government dues, Except export duties,
and pauablc, in gold or its equivalent, sip
months at7sr peace All the two.year notes
are fundspls t,ll 3lst July eight per cent
bonds, payable III two ycars-afier the 3lst
ne ,(ulv thsy are not fundable, but paysble
oulv when presented, and receivable for dutits
and taxes, An notes issued from lst December
to Ga April arc fundablo in 7 pc, cent. bonds
till lst August-sf,erwards in four pes cents
only, but receivable for duties aud taxes, and
psyAble after peAco. Notes issued after 9th
A drill ara iundab!s in sixpe cents for twelve
months from the first day Of the month OF
their issue, Afterwards in four per cents. This
ia the systeu adopted by the last Congress.
sWe do net know how many Treasury notes
were Issued previous to tho lst December,
hsu boan fundaH
estimate, however, that tho issue then out
standing, exclusive Of interest notes, tWo-ycs
notes and ono and two dollar notes, loot fdnd-
able,) was about two hundred and lity Mill
| lions. Probably seyentJ-hve millions were
| funded 10 the 22d April; and it is hoped that
tho amount in sll may reach 2OO,O0O.OOO by
August. If 30, the amount Of those left Will DO
only fifty millions, every dollar OF which IL
a. good IS geld for taxes, ard will DC absorbed
under the tax bill. So that there 10 not the
slis htest reason why spectators and banks
should refuse to receive notes 1ssuei prior to
Decent er-thus disorcditi0g the currency OF
tho Countrywide issues OF the Confederate
Treasury. Those notes are just as good as
spy Treasury issues, and parties refusing to
receive them know it. They arc always re-
ceivable for taxes, and payable sl1 months
a fer Ieace. Tho notes lssue1 after lst OF
December and preYou, to 9th April arc
equally good-,nd they are fundable after lst
August, though only in four Pe: csnts-just
as all other Treasury notes, issued After 9th
April, aye fundable only In lour per osnts,
twelve months after issue. II is therefore
only ruse OF interested parties, this attempt
to discredit Treasury notes, which are as
good as apy issues"