Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-11-27
For the Enquirer.
For he Enquirer.
CURRENCY SClIEMES-THE SECOND
cEDD


another plentiful crgp of schemes, which we
propose to catalogue, classify and briefly ro,
view. These schemes are generally presented
with the mos: thorough conviction on the part
| o. Thc inyoEtCrs ard sincere desire 10 4,
the nablic service, but some CT them arc very
crude
One prominent scheme Is TO stop all blockade
running, seeing that we have already on hand
s"eh Surplus Of foreign supplies. This
scheme is most seriously pcopo,ed, but La
been ably answered by the Hon W. W. Boyce,
Ivy your correspondents Wayland," and 9TH
| eri. II to send Cuf Of the country what we do
not need, and get back what We do, be iniu.
! rloIs 70 uS, then this scheme will help US. 50
| iaC rs 1t goes. which ia Il very little way. II
rth'H be remedy, the Yankees are aricntlv
iesrous to administer il, and hare well nisil
forced it upan U.s.
Another scheme CT Tie same projectors is
to stop the buying Of gold. This is the erro-
of those who e5pccs to change the tcmueTa>
tuye by breaking the thermometer, or to alter
the time OF day by setting back the hands Of
the clock. ~ a!ter the index by violent in
reference will scarcely affect tie pheaomenon
itself. Gold now simply lies idle-as HARM
less bat as useless rs King Leg. Nothing
could be more useless than boarded cold
But VIC will need it hereafter" Trua-ani
hereafter We can export cotton, and gct coli
very quickly.
The effects Of these combined schemes (ior
they work in yoke, are perfcc.lytnsigniG.
can't il proportion to the evils we lator under.
Your correspondent from Auburn serve. them
up specially rs remedies. lie proposes 70
I.cut the throat Il commerce, and knock gold
in the h6ad," This is summary enough. Il
"a truly awful upon ihc symptoms, but does
not torch thc disease. NJ remedy in all this
for sick currency.
Another set Of schemes woui fix r,Grinun,
prices. Then, perhaps, people would TO. sell!
but these projectors are. ready fer that eva.
>i0a. ih.y w"E:d proceed to impress peOplc
HIult thCn Cease to produce, ur, producing,
would hide their property, hnpiag SINE dav,
= By some Means. to get market price tGr it.
SThat wi!l!uncss. But such is man: c:.i
perhaps we wGn!d do better % frame our leeis-
iatlon I" suit his constitution, rather than to
undertake 70 remodel the human constitution.
The wa"ie sy":cm Of impressmcnt is an evil
in itself, oaIy tolerated by the Constitution as
occasionally L necessary evil, TO bc het:gel
.bou. with strong safeguards never dreamed
Of rs ;hc ruis oi' ob:ainn. Supplies for the
tnrerrmcn.. 1t produces general uncasi.
ness, and keeps articles on: uf market. hidden
away-rroducers afrail 10 sho;r thcn-Y9ith
IA vsgue apprehension they can do letter by
rafting, founded OF the consciousness they
are compalicd to take less than market price.
In line with this is the proposition to seize
a0tton ard tobacco. The proposition at nm
earlier day 10 buy these articles stood on n
different footing, though We do not favor gov-
ecnmept speculation. But the sheer seizure
by government ofahy commodity, unless roar.
':e; price is paid fer it, is spoliasion, and if
market price is paid, there is DO need Of
Sezurc. For the latter !!are is m rigl.;. con-
stitu;iona, or otherwise. nor should thcro be.
Let the burdens Of society fall on society at
large. anu not on sections nor classes, nor es>
pec:ally upon one class OF ouc section. Your
spicy correspondent; from Auburn, fond cf an
:i.hcsi-, and really T. sparkling writer, would
nave .'the SovarRmenc take. prompt steps TO
POSSESS itself CT all the cotton and tobacco in
tho country, export i: on lis own account (nark
that, not on aceoun. Of the owner OF it) and
bring into tho treasury its foreign value in
gold. With this gold let tho government pay
the private soldier and the interest on its
bonds" But wha. about the owner of the
cotton. Eh? There's the rub-government
may very easily settle everything if robbery
is admissible. How wonderfully it would
simplify AS affairs to pay his debts with
BIS iaeana. TIE matter would be thus
reduced tn the EXTREMIST smplicity-n plain
anl simple rlan, requiring in its execution
rot tie smallest ingenuity. This scheme,
although not Intentionally dishonest, is only
/ trilelcss direct than that G: the highway rob-
bcr l. is 4 mere misapprchension Of results.
The plan Of wholesale tax on currency as
such, does walk yet ma7e directly into the
9ock"t Of ho man who haprens to pa;s. with
money in his pocket by tho needy protector.
Speaking Ct cotton: if Government had it
really FOR expectation now. how fast could it
b, carried pa:st the blockade, to serve the pur-
poses indicated: Not very. TIE Yankees
would enbarrass the process considerably
Again Government should certainly procure,
hy honest purchasc, cotton to meet ali its o,rn
en3aGcmcais. Iins H,l9ncco!' Docs it stand
prepared to meet them !? IF not, it should buy
enough promptly, and beyond peradvenure.
Wo to orr credit, it we fail here
Another batch Of schemes has reference to
Banks One would establish National Bank,
seeing we have 80 mach 10 lend another q
sinking yun5. seeing our national income 50
far exceeds cu- cspsaditwes: another wculo
compel tic banks to i!IIs. currency, seeing
that convenient article is at present 50 scgrce
and still another would compel the banks to
call in outstanding issues, scc;a: ;!,c5n circu-
! late 50 freely. as If these boarded bills emhar
ra.s,l Government currency hy competition
Such vngarics arc honestly entertained and
warmly advocated. 10 cone 10 sGllemes Of
greater merit: these propose :,.c reduction oi
the currency By taxation, or funding, Or bath.
Funding may he sthcr r)iwmiuy, which
method has bncn always open Gal on trial, or
noazsa. by inducements Of various sorts. or
compulsory. by law compelling it on some
Just principle. 4 tnz is compulsory, forced,
involuntary, and no return made in my farm.
4 compulsory lean differs from tax only in
returning bonds on some scale, and thus
granting partial indulgence.
The voluntary and the eoaring methods bave
both l.een tried at laTgc. Bonds, intended to
| be oc the most tempting sort, have been pre-
s.nscd to the public. Errors havo been COM
mtted, however. in tho forms Of induccmcnt
offered, upon which we cannot now comment
| IL. This has hcen the Gctgal and principal
scheme OF the Treasury Department. Per-
haps, the fact that it has failed is comment
! enough. The ef1rt was made TO strengthen
| the bonds.hy State endorsement, but failed
Among the suggestions now made is the is
| sue cf State bonus, issued directly by the
| States rs principals, not n, endor,ers, and
| their sale for Confederate money, the latter to
| be exchanged fur Confederate .Innd,, or else
held in the form of currency. This ia q nro.
position for State volunteering the matter CT
rundinr individuals and hanks not having
| volunteered sufficiently. But will tE," States
DO it! Probably not, after declining the pro-
nosition to endorse. Query: Whether even
State bonds would rcll in such quantities.
without the application of force, or else such
! lieas or property or specific p'edg'd taxation
as would give confidence as we'll to Confeae-
| rate bonds. Tho Con(ederacy has large tnI-
ing powers itself.
Another coaxing method proposed has been
! to except the bonds from taxation. This
r J. .F..-s 4 L.