Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-11-27
For the Standard.
THE CuRRENCY-

1t is proposed TO advert mainly TO such facts and argu
ments rs have not hitherto been exhibited in the public
prmis-nfrrng that every one has examined all yet SAID
on the subj ct aud mpatenty await suggestion like
ly to prove avalling. / shall be extremely succnt.
Condition of the Confederacy at the beginning of the
territory and population. fhe south claimed
"A States and l2.OOO,0uO population The Yankees ~
States and 2IO0uOOO. We have lost temporarily say
States with 900 people, leaving 5000 Oh of people
half being slaves $500 900 whites only instead Of
of whites the start less than Onehid Bear III mlnd
that the Yankees have under control - States and u mil
lions of people. Increase over "Re-third
H. Our circulation. Our circulation, Mr.. Memminger
thinks no doubt correctly, ought to be ordinarily l5O UO
900. At like rates the Yankees medium Woud be at FIRST
900 Our circulation, however is sUD0U0 10 less
the funded debt say 40OOnOu leaving not over 5UO0O0
600 at most The Yankees circulation is say ,5o0 0o0
On0-2g millions of people using this amount, while "a
million anIy use the other or fact 500 the head
here and than $50 there The Yankee needs ordna-
riIv s2 TO the person. we $2 so their currency ought
TO be 3% times better than ours 3X by 50 equal to $50
Theirs stands at so per cent discount god being the
standard y 1000 per cent and is consequently ~ 10
better than ours. Hence, theirs ought be times
as good as and 20 above therefore stands at
cnIy less than to l. In other words have pearY
times much money for present use-supposing they
have merely enough.
Our CIRCULATION therefore has simply kept pace with
claims having lost in this respect somewhat, we have
surplus: extraordinary dmiuuon of territory, having led
to the loss of of curtailmen The surplus though
natural is yet apparently unnatural A natural remedy
only will not The redress must be ersTemf.
Ill Artificial and indirect causes. 1t Was shown above
that we had times too much currency taking
backs as standard Hence supposng pound Of cotton
ougbt 10 be worth 10 cents it will bring 20; bar
rel corn S. ought now TO be worth f2 horse at $OO
now 300; negro at a 900, 70On; bacJn fOmcriy
at 1917, now bringing 80 cents and so on
But it be considered that we bave faed in an
pe CROP that cOored labor is less and less efficient
that horses and cattle scarcer than many things that
negroes doubtful property with Some that our white
labor up tn A. has been Withdrawn from pr"dncuon 50
that where there huctuatOn between the standard of
TO il is traceabe to these aud similar causes; but still
adding that proportion 10 the supusIge OF money
needed beyond present wants.
IV Question of further CONSUMPTION. The great ques-
ton of labor then up. How far go, in with
drawing labor from the country: IT, with larger terri
tory we were able produce barely enough for the army
and people shall more labor be Withdrawn from less
fertile and extensive SOIL thus increasing the ratio of to
against us? AS 1t now appear; an ample supply ot pro
reuuring less to buy the quantity IT, therefore,
further conscrpon of one man IN every U Tor up to 80
years be madeOr rather let me say one IN every two
and one half negro labor growing not more efficient to
make the most of it, how will the question of currency be
afected9 Still greater issues will be required
But in withdrawing one person In hve from laoor we
not merely lose his labor but have to support him alto
gether thus doubling the expense or ossso that 100000
men thus put into the army would equal loss OF more
food beyond present limits thus deprecang the curren-
cy No country thus weaken its labor beyond A., as
it the maximum, the turning point between the reasu
~ and War DepartmentS-wha one gains the other ln-
Slanty loses
v Mr Chases and Mr. Memmnger's money plans. So
then after ALL there is not much difference between
the nancers Mr. Chase has kept his currency from de-
precating mostly by force of arms the LAWYERS
Had ne not Mr.. memmlngerS territory 10 uiuuSI MS
money in, using eight States Of his and nine millions Of
people, the discount HIS funds would be 10 being
80 cents in the dollar Give our Treasurer back his
proper domain and inhabitants and let him duse the
currency, and YOU enable him to maintain its present
status of to all owing for traceabe discrepauci
Again: The army does not retain the unney paid to it
as wages monthly, but quickly returns it to be circrls
ted home; and as the Yankee army IS only 100000
strong, with home population of % millions, and ours
100000 with population of ~ millions or less at home
their army pay times scattered than
and is therefore unable TO deprecae the currency like
ouIs Besides there being and larger capita lists
North these absorb largely by dep 'ss the crcu atng
medium which here is Kept constantly passing from hand
to hand in wild speculation. In other words, Mr.. Mem
mingers plans would very nearly Mr. ChaSes and
vice And were the greenb bucks crowded back To
their old limits of territory, coming down to Mary land
and no further would see scarcely any difference be-
tween the two sets of currency.
In my next propose a remedy, which may be styled
the magic remedy for the currency expansion