Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1863-11-24
To he Editors OfWe EHJuirer:


Gentlemen: 1t is q conceded point tina
something l.. ust he done to reduce the volnm'
oe our currency, or serlOus embarrassment
must result in the conduct OF our nationa
affairs. No labor can result more bcrchciaily
to the good Gf the cause than that which vii
accomplish a practicable solution of the pres.
ent financial difficulties which atfict our trea
sury department. Turn your attention to this
subject, digest the crude suggestions given be
law, and present us with bill that our Legis
latcrs at their next session, may pass with
honor to themselves and good to our gloriou,
cause.
Firstly, Let the government call in all q
its bonds Of all classes, at market value, and
give to holders in lieu thereof bonds bearing
four FER cent. interest, to run for one hundred
wears, the interest 10 be paid semi-annually
in gold and silver, or an issue based upon
gold and silver.
Secondly. Issue two hundred millions of dol,
lars in notes, payable in twelve and eighteen
months after issue, in gold and silver. The
Government making these notes 4 legal teE>
der, and selling them in the market at one
for fifteen Of the present currency: burn the
present currency os fast as taken in.
Thirdly. Impose and collect direct tax CT
ten per cent upon all gross incomes and FIVE
per cent. upon all real estate and perishable
property, payable in gold end silver or the new
issue Of legal tender notes. Let the tax on
cotton. tobacco, all luxuries, brandy, whiskey,
all spirituous and malt liquors. gold and sill
YER, either in coin or Wal e-all export and
import dutics-be paid in gold and silver coin.
Fonrthly. The four per cent. funded debt t.
be exempt from taxation, and persons to be
allowed to purchase them from the govern
ment with the present currency ut fifty rer
cent. premium, with the new legal tender issue
at par, the interest on these bonds to be held
secure and sacred.
Filthy. Let the government establish,
without delay, Mint and National Bank
private individuals penal offence while the
war lasts.
The rate OF interest now being psid by the
Government upon its coupon bonds, is equally
rs onerous as if paid in gold and silver. Exam
ple An exporter owes duties TO the Government
to the amount OF $50 in gold, which, at market
value, il COO in currency. Does he pay the
$50 in gold No Does he pay the ST 900 in
currency No; he presents coupon from 4
cotton bonl this coupon, instead of being re-
deemed at the Treasury for its facial value
of $50. comes in costing $1,000. The ex.
porter, for his cotton. receives English
gold, of which lie takes $50 exchange
and turns it into currency. realizing S22 0
with which he buys n fifteen million cot
ton bond, with three years interest due on it
he coupons agEregating $40. He pays these
in lieu Of gold, for his export duties, cody pock
citing his bond for 81 600 against the Govern
ment, and boasts OF investing in Confederate
hondq ~ all trua riatriots should II is easy Il
see who gains by the operation.
The gold ard silver coin now in the country
lies idle in the Evaults of the banks. Why MOI
make available this powerful engine for assis
lance! Fer the new issue of co;n the womer
would send in their rings, the men their silver
ware confidence in the currency would be es'
t4bisbed a new fame of patriotism would burs
out, and by it's bright fash We would see thai
beautiful horizon of our future peace and inde'
pendence. NiBR0c.
November 18th, 1868.