Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1863-12-01
For the standard.
Mixed Plan for Curing the E,DaSasS cs-renov.

| For the Standard.
Mixed Plan for Curing the Expanded Currency
status OF the currency 1t shown in my last paper
That from exrnsc and intrinsic force combined our mon
ey was 20 to in excess and that from causes mainly n
nSicL 70 land as compared with the Yankee standard
The 20 to excess being Tins contnoaa nv the block
Aoe ana lack OF production at home-beDg thrtesn-twen
es OF the evil must remain till removed BY other than
hnanca measures For were gold our standard it would
De- say 10 to still leaving all supplies from abroad
unusual figures, aud many at home very high. For in
stance brogau shoes would range at st. boots SIS $2O
lead 30 cents sugar 25 cents coffee so cents bacon %
cents IRON 10 cents &c. DC with crcumstantal variation
IN all other arces-but probably centering at about 20
to excess and being incidental evil Of war can remain
| to be endured BY the people
But in the to excess relation is had to finance being
the difference between the Yankee condition of currency
aud ours as previously proved theirs being times better
than ours and this evil is remediable 1t relates to lack
ofcapitasts compared with the North; So if Mr. Mem
minger will allow it should have been issued, STILL
since it has been issued he has certainly done well
funding 50 much of it, showing his ingenuity and at the
time the almost precise measure of patriotism and
capital in the country.
For to reflect moment, it will appear that out of $780,
100000 Of debt nearly has been funded-with
drawing so much money from the circulation and since we
have only about whites under control at present.
and as safe to number the persons investing at $780,
900 with the deduction unprepared do So
shows population of UOO who may surrendered
their money to the Treasurer OF the rate of EACH
very go1d showing But here the matter rests. There
is unding and the query arises what is to be
done with the 900 left having distracted the $780,
100000 needed for circulation the time providing
issues at the rate OF, say, 5o00U,000 per month?
Funded Debt. wish TO observe here that the funded
debt is still to be paid. The money cancelled but the
bonds held But this debt was intended to be cast
upon futurity for payment let it remain Yet, instead
of pushing 1t merely forward, it might have been entirely
cancelled AS design showing presently.
1t must b. kept in mind that the currency now afoa
feels the influence Of these bonds hanging they do upon
the energies of the country there being always appe
hension among every people that large national debt
may BE- rpudated and with this the current money
deemabe BY the government also Hence allowance must
sile effac of
in the hands of the masses. Nor this be
cured So long as this debts unpaid 1t is perpetual
incubus
There then exists two evis-oue the thrteen-twenti
eths excess relative to blockade &c aud the other the
funded debt which momenty upon the seventweu
tehs excess and increases the depreciation both of which
must remain for the present.
Temptation to fund The temptation to fund on account
OF the present per cent offered commencing at and end
ing at has been exhausted in the double direction Of
Treasury and people, the former knowing that per
cent. a national debt would be too heavy a burden
while the latter had the fear Of repudatOn and possibly
some also that of ana subugaon constantly before their
eyes, so 1t may be said the nation stands awaiting
Thing to be done TO help the currency.
Some recent plans. And here the 6nsncers fix them |
selves and propose various expedents- proposing
in combination with profit That is to say, create bonds
by the billion and require their purchase that of gold
wherewith TO pay taxes This ingenious but seemingly
unnecessary. others propose that the rich shall lend
their money to the government for 80 years. interest
untaxed that every 100000 1.-THE Of these huge
monsters) the st:Oug temptation of $4,000 interest is
brought to bear but being no temptation to the ninety
nine one hundredhs Of the people nssnuch they can
not enter into the speculation This plan would burden
the country with 80 years debt and create moneyed
ariStoeracy-twO great evils. Mr. Menmnger still likes
The funding plan, as it was so good once. II has silica
cy now
Ny Mixed Plan. 1t is termed mixed because it is pro-
posed that the Secretary of War and will do his du
~ IN removing the dead weight that letters the currency
OF the country externally and internally by pushing the
invaders back and recovering lost territory aud popua
tOn, products and labor; that currency may diff.
fuse abroad among the 100000 of whites claim and
ON soil
and IN the hands OF these. people. Until the tide of
rolled backward the external excess of currency
cannot be absolutely remeded And have idea that
We should egsate the eramped territory at
present hold to continue sole domain which these
various schemes predciRed upon while possible
nu judcoas TO begin tie reform where most required,
acquisition OF more territory and mesus and giving
hg nem using that of the enemy By these bonds and
ms iundlng we seem 10 be providing for permanent
VII ana not transient one when by repossesSng our
ewes "t what We have lost we instantly if by magic
~ our people with establishment and joy at the palpabe
fleet upon prices and the prospect of living
Meantime the Secretary of the Treasury can remove the
1cess attaching to his hitherto insufficient tnaucierug
ne excess with him 25o 0OO how can he cancel
y issuing more bonds! No Better had none been is.
usd The only plan can see is taxation To what ex-
enL' To the absorption of the whole amount aud a con-
nrous tax commensurate with the debt of
er MONTH leaving, you please, the funded debt re
1n m after the war; as that will not enter into the cir
llaton again.
1t IS now generally admitted that ought to have been
1ed 70 pay OIL our war debt fast created But
did not supposug the debt would be a tri1e the war
ION beng over. The debt has grown upon us Scarcely
y OF 1t is paid aud the nation calls for some action
relieve from danger. Let it be remarked here il is q
u rous fact that the people have and all paid tn is
aFs tax easier than any previous They able and
nG to pay three times much and not complain more
ian ct present at the high prices and Of things rally
Let the Confederate money of whatsoever kind (as
we have) pay way. Pay in that alone While
Is IN the hands of the tax it is of crcula
d. and so Also while in the hands Of the Secretary of
e Treasury, until paid out and it finds its way among
people again By using the money over and over
am, paying 1t in for taxes and the people again
what they furnish and - the army wages requires
ne" issues of currency TO the ring expenses
the nation aud VIC have the satisfaction of paying as
CO. so that when we hand d. wn to pOstery a free and
dependent nation there goes with weghty debt to
bitter the joy. I
The evils of present debt ard want Of production we
lst submit to- the removing Of either helps the other
were both removed it would advance cause at J
me and abroad very sgnally. The removal them NAV
be neesaryt TO liberty but had best do all the fight
possible, aud all the egsating requisite the same
le Our own people must be kept from suffering and c
rmuring if practicable. and by making the money bet
, we include in idea the whole subject as it becomes
ter with every inch of soil regained and every dollar up
the 25O0oO0OO limit, withdrawn from the public p
something must DO done," is the constant cry aud
ow Of no better plan than the above here humbiy sub
tied to the restless public. y. =. #&#%
El.A I.C IA