The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1863-12-10

TuF SCHEME OF THE SECRETARY OF THE
TREASURY FOR THE KEt.iEF OF THE
THE IMPROVEMENT OF THE CONFEDE.
RATE CURRENCY.
The following is the scheme suggested by
Mr. Memmiuger, in his report to Congress,
for the relief of the Government finances
and ,be Improvement Of the Confederate
currency, which, Notwithstanding the crowd.
=, e,eopdiiion of our columns, we present TO
our readers
SCHEME PROPOSED.
!. Tha. Congress forthwith authorize q
loan of 81, ,000, 600 900 in elk per cent. bonds,
The principal payable in twenty years, the
interest semi annually; to be extended here.
after, from time to time, SO as to consOli-
date the whole public debt.
3 That the Secretary of the Treasury be
authorized to sell at par as many Of the said
bonds as will be sufficient to take up the
outstanding currency and to pay the apprO-
pristions made by Congress.
3 That deposits Of Treasury notes on ac-
couut Of the said loan may be received at
the Treasury or any Of its repositories, or
ty Commissioners to be appointed; said dec
pnsits to he In sums of one hundred dollars,
or IN snms Of which one hundred is a perfect
dissor.
4. Certificates shall be issued for such de-
psits. which shall entitle the holder to
honds for the amount, with interest from the
.ste 0; deposit. IL the deposit he made in
the month Of January, the bonds issued for
The sane shall be exempt from the tax of 5
Der cent. for the present year, hereinafter
mentioned il made in the month Of Febru-
ary. they shall he exempt from One.half of
The tax and if made in the month of March,
they shall be exempt from Oae-fourth OF the
said tax. Officers, soldiers, AMI seamen, In
service, shall be entitled to exemption from
the whole tax for sums paid at any time be-
fore April lst, 1864.
s. A tax Of 5 per cent. shall be imposed on
all property and credits (0ther than the new
issue Of notes hereinafter mentionedD which
may be held on the lst of April next, to be
paid on the lat OF July, one-half in Treasury
notes and one half in coin, or in the cou-
pons OF the bonds issued for the loan.
q. la case the coupons should advance in
The market to premium exceeding p per
cent, any payer shall be permitted to
pay his tax In treasury notes OF the new ia-
sae, with IS per cent. added.
/, Within six months a new and improved
i.sae shall be made Of two hundred millions
Gf treasury notes, in substitution tor that
smount of old issues, and all the old issues
shall be cancelled, and the faith OF the Gov.
ernment is pledged not to increase said
l:saes.
5. Notice shall he given to holders of
treasury notes, tother than the said two hun.
dred Millions requiring them to present
their notes at the Treasury, or at some OF
the repositories, on or before the lat day Of
april Eeyt, and receive payment thereof IN
bonds Of the said consolidated loan, or In
selaat thereof the notes not so brought In
STALL cease TO be current or receivable at The
Treasury for dues, but shall remain evidences
Of debt payable by the Confederate States
according to their tenor.
g. Ia the States beyond the Mississippi
the tine mentioned in the last clause shall
be extended until the lst day OF July.
H. Six months more shall be allowed all
holders of Treasury notes to come In and
register and verify their notes as demands
against the Treasury, and exchange the same
ior certificate Of debt or II they prefer to
Keep the notes the name Of the holder shall
be endorsed thereon, after which the. said
notes shall be negotiable only by special a.
sgnnent, and all notes not SO registered
within the same time shall be barred fro II
any further claim ON the Government.
II. ANY holder of bond Of the Confede-
iate States may convert the same Into one OF
The bonds under this loan the per cent
bonds at par, and Vie others ut proportion
ATE rate; and the loan shall be extended so as
70 absorb all bonds which may be offered in
exchange.
IL. The interest coupons of this loan shall
9e held equivalent to specie in all future
dealings Of the Government, and shall be ac-
esp'ed in payment OF any tax hereafter made
payable in coin.
ia The faith of the Government Is pledged
70 make adequate provisi0R for the payment
VI the principal aud interest of the said loan
" the continuance of the tax mentioned la
article 5, until a census shall betaken, alter
saich like provision shall be made by direct
'ases or by duties on imports and exports.
The nOtes Of denominations under %
saal not'be affected by the provisions OF this