Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-10-22

y
into existence if by magic and their deeds of vao
and heroism rival the most brilliant eats of arms tina
history has recorded.
i The young Republic, at the head of which you ar
placed, came into existence without al army without
navy, without arms and mutations of war, withou
money or financial organization OF foreign credit an,
forthwith had to encounter, on many bloody field th
power OF one of the greatest nations of the EARTH am
whose parations for wee complete and TO YhiC
we had 80 largely contributed.
| hat young Republic, now in the third year of it,
existence, has in the field armies II equipped which
never fail to prove victor ous the "best armies
the face OF the planet" when they can meet them
terms bordering on equality. 1t IS aud NUM-
tCus OF in abundance It's little navy is TIE ~
rcr OF The enemy's commercial marine and Insurance
companies. 1t has we'll organ zed Gov. rnme4t where
e liberty and property are duly protected, and its
nancia operations by which all this has been Effected
yet have scarcely been felt by its citizens and the
only thing needed to insure independence is to place
the credit OF the Republic high in the estimation Of
the people as its valor has been PLACID Can this be
done? Unquestionaby 1t would be a reflection on
the patriots at HON. to believe that they will not
achieve the former noby the patriots in the army
have ACHIEVED the latter.
And it is to this subject wish to draw the attention
OF my fellow citizens.
Congress must stop the running of the blockade On
less TOR the benefit of the Government, and permit no
lmporatons, unh it may BE- of artcls of prime ne
cesslty which cannot be produced in country
and for toe importation of which, permit shall be
.
imposed.
Congress must cease to dscredt any issues OF Con
tederate notes by its legislation and put them all
equality regardless of the dates of their issue it
place liz Issues upon equality lat least with its own
people, with any currency whatever, whether metallic
or otherwise. 1t must stop the export of gold and
treat every dollar of its of equal value to
any dollar in existence.
TO effect desirable object, it may be said is i'm
possible, while the Confederate currency is so redun
dant. Then reduce that redundancy. Can this be
done? think it can be effected and that quickly if
our people will take it in hand. And this brings me
to the sub ect matter to which wish to direct the at.
ention OF the Government Congress and the people of
the Confederate States.
Let four thousand shares of STOCK of one hundred
thousand dollars each be sub crbed to be paid into the
Treasury, in Confederate Treasury Notes, when the
whole stock is subscribed and the subscription not to
be obligatory unless the whole is subscribed but any
subscriber may pay IN any portion OF his subscription
at his pleasure.
Let Congress authorize the Secretary of the Treas
ury to issue Confederate Bonds to the of four
hundred millions of dollars in payment of said subscrp
tiOns to bear interest of six per cent. per annum,
payable semiannuay, and to be free from all taxation
whatever. l will give the form of subs :rpton list
which will Indicate the character OF the subscription
and the gisation that may become necessary, viz
We, the subscribers, hereunto bind ourselves to pay
to the Confederate Government the of hundred
thousand dollars for each share of stock by US sub
scribed as four thousand shares shall be
subscribed by Individuals companies bodies, corpo-
rate potic which subscriptions shall be forwarded
to the Secretary of the Treasury of the Confederate
States and by him duly be made known by procIama-
ton the four thousand shares subscribed:
Provided that Congress shall authorize the Secretary
OF the Treasury TO issue bonds coupon registered, at
tie option OF the subscribers bearing interest the rate
OF SIX per cent per annum, payable semiannualy and
the principal payable thirty years after date, which
bonds shall be free from oil taxation whatever by the
Confederate State Government, any other author
y, and shall be delivered in payment at par to subscr
bers land subscribers only upon payment of their sub
scrptOns in Confederate Currency of any issue Tor any
other currency the Treasury Department may accept)
and shall be in sums OF one thousand dollars five hun
dred dollars, two hundred dollars and hundred dol
loars each asubscrbers may prefer and the interest
Crung said bonds shall be subject taxation what
ever until one year after the may be due and pay
able, on shall then be taxed as other moneys
Provided further, that subscription shall be obli
gaory on the subscriber unless the whole four thousand
shares shall be subscribed but any subscriber
may at any tune pay into the Confederate Treasury all
or any part of his subscription, and receive bonds to
the amount thus paid and shall not be held bound to
pay the balance of his subscription, unless the whole
four thousand shares subscribed the subscriptions to
be paid III instruments the secretary of the Treasury
may require.
Coed reasons exist why the Subscription should ba in
shares and but subscribers be entitled receive
tie bonds. To assign these reasons will go too much
into detail but they will be readily suggested to those
who think on the subject
Can these subscriptions be obtained do not doubt
it. Let every Individual able to subscribe one or more
shares do so let companies combine to take share
and the more persons forming the company the better
let every person who spare hundred dollars
unite IN some company so that all may avail them
selves of this nontax paying investment and render
service to their country by aiding to.mproVe her
rency and strengthen her credit. Let every ncorpora
ted company, city, town, hamlet village, railroad and
bank, take shares to the full extent OF their credit
they have the funds ready, much the better if not
s them borrow and loan to the Government receiving
IN return the same interest they have pay out In
other words they have loaned country their credit
to the extent of their subscription.
But to those bodies corporate polite, whose bonds
will command premium, what an opportunity tor spec
ulation, if the sordid principle OF gain must be subst
tuted for patriotism
lake the city of Richmond or Columbia for instance
Say their bonds at hundred per cent premium
or one hundred dollars viii. command in the ma rket
two hundred dollars of Confederate currency Let either
of those cities subscribe hundred of those shares
ten millions OF dC2:3 The sale of FIVE millions of her
bonds will raise the Confederate currency pay for the
ten millions of Confederate bonds. She will receive
annually the bonds six hundred thousand dollars OF
interest, and pay out three hundred thousand dollars
leaving three hundred thousand dollars sinking
fuId which will extinguish the debt in some twelve
years.
Let the whole income of six hundred thousand dol
lars after the debt is paid off, be compounded for the
balance Of the thirty years the bonds have to and
that city will have between twenty and thirty millions
of dollars principal and interest, raised upon the loan
of her credit to her country upon five millions.
The bonds of most of our States are at large pre-
MUM should they pursue the same course similar re-
suits will But can we doubt should such results
not ensue that every State of the Contederacy stands
ready to subscribe to those shares and loan to the Cen
eral Gcvernment their credit eny amount necessar
To 0lO fbo ,,h,or So4io hoir ND Tho