Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-01-29
FINANCIAL AND COMMERCIAL.

"EphsDAf, January 70, lso5
Ths bill recently introduced 10 the House Of Repre-.
ssntsivss, BY ar. Swan, Of Tennessee, provides
For the issue OF 900 Treasury notes Of the dsnoH
nation 2, Of one dollar and gPnGrd.. ,.,..
Tha. The said NOTES may be fanaed In eve cent bOnds
That the character OF the notes shall be expressed upon The
face thereof
exchange such notes for thOse Issued this
The great rsuis which the sEasuOn Of the present session Ct
Congress /, hopefully expected to accomplish sre-
The reduction Of the volume Of currency consequent
appreciation Of the 1unt reminding IN circulation.
g. ProKimats stability 10 the amount Of currency.
Reduction 10 the Of Of the public debt,
Mr. Swans bill does not provide remedy for the evils
dundsn currency It contains provision hereafter
Of bonds bearing Ave instead Of eshtpsr
than this only proposes substitute currency higher
standard b.H that aGoa: This substitution wosl nj lead
beneficial result Il that all paper
sdost In the c0ndsrAey ldeniy snsmaei
Into gold CON- price, would not be materially Affected The DE-
prsstsn Is attributable gzdEaty Tath-r thAa 7GaiA
There however, "souethng ID nane and The Issue Of
legal tender notes might be rendered ayalbe
reducing both the volume Of currency Snd the oaes
puddle debt. Instead Of exchanging dor for doA' pro-
posed by Mr. sEan give the hers Of Treasury notes. Issued
prior Is, January the privilege Of exchanging hm for legal
tender and bonds In he proportion Of $500 Of the former,
Tor 500 In bonds and ,Oa legal eudershe priVsgsOf
change certain date aud thereafter the Treasury
notes remaining anol be unconyerbs anti the ternpAsa
Of the
The neesseso the Government wou 0t require the
connuedissI ofpipsr money bat this eoii he made %
leg tender noe. exshlDgeAble Ia manner ~ those
issued prosto ,t jan and IN similar initsons Tas Ii.
ise and absorption would he continuous. The objection that
would have tso eurenes this plan adopted would apply
with equal force gold and silver We believe that esalendrr
issued gradual ami limited suggesed
command preaIin for length Of ae whilst s Other
class OF notes uou remain par The relation beSsea w
two classes would be somewhat Analogous that existing
tween gold and silver.
The the bond, heretofore ssaed would be payable
stpresent in legal tender notes. the holIe should
privilege Of exchanging them for bond. with wLou
4 b.s bearing per nteresthe semi
interest payable 10 legal ten Ter notes
suh Is the brief outline which seems 70 US could
rendered edeeuA in is details ia restoring Currency
condition. and Ayerng the cultlrs which
environ Il is not submitted with claim 20 inf.i
bity suggestion which may be considered apo.
It's connection Nth oor PLAIN presented for the AnsOraioB
OF the duAnee,G deterstum 10 which e whole couay VI
tally Interested.
We subjoin an abstract of important bill Intro
by Mr. Phean Of Mas Ia The Confederate Senate to-day,
and referred TO select committee
l. Condemns and appropaes 10 the Of the -ooDfsdsrss
States al cotton within ha Limits OF the Con ederay, With
allowing the and consumption OF cotton within saL
The SALE purchase or cOncs.nent Of cotn contrary TO .
Ssl be felony punishable BY nne and oPbsonment ard
the oGn ir owner Of the cooa shall forfeit AL claim TO eoa
The sale or transfer Of cotton to citizen Of the United staes
shah be nipsn OF treason, aud the oaendet coheton,
All be delivered by the such tImS GLd
pAee under such regulations the President direct
Refusal failure to comply, shall be punishable BY doe aud I'm
prisonmen.
Bonds the Confederate States be delivered TO the said
In compensation for their the Of fifteen
pound With interest from the date Of delivery.
G. Cotton liable fall Into the hands Of the public
destroyed by direction Of military commanders above
Colonethe to be compensated 10 specified
In the preceding section
T. Prohibits the expectation Of beyond limits the
person Violating Ill p,Syo shall on eonvc,on .SG,
Repeats all laws Of laws this act