The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1863-09-08

Hustcu, aBu W ID YOUR attCutlDn IS re
spectfully invited. General Richardson,
intelligence and experience in all nilitar,
matters entitle his views to great re-.
spect, and | confidently commend then
to your favorable consideration.
! The General Assembly, at its last ses
sion, prescribed that no Confederate is
sues OF date anterior to April 9th, 1868
should be received in payment of Stat,
taxes. am unable to comprel,end
either the wisdom or policy Of this lcgis
) lation. 1t is calculated to impair conf
dence IN the currency of the Confederate
Government, and, indeed, in almost the
only currency iii circulation in the great
er portion Of the State. Ii these ISSUES
are no. to be receivable in payment O.
State taxes it is inferable, at least b,
those who are not fully informed il, re
gard to such questions, that it is because
those issues are not as valuable as sub
se'Iuent ISSUES By the Government, OF
tor some cause or other they have not
been considered a safe OF reliable circu
lating medium. No matter what caused
) the exclusion, it is perfectly plain that
the effect has been Ia iepreeiate the cur
rency and to arouse in the public mind
the suspicion that it will not ultimately
be redeemed. Very few persons in or
: dnary business transactions stop to ex-
anime the particulars date of note which
they are about to receive Very few can
remember the particular dte of the note
discrcdited 10y the law. The consequence
Is, rs soon rs they ascertain that notes
; OF some dates are not receivable in pay
mcnt of taxes, and they do not know
which, they become shy of receiving any,
and all are discredited. When they are
! told that some of the banks will not re
ceive them on deposit, and that some OF
the railroad and other transportation
companies will not receive them for fare
or freight, they of course refuse to re-
ceiye them, and a general depreciation
ensues, which it will be found next to
impossible thereafter to prevent
| In very many eases this money has
been paid to our soldiers, and by them
sent home to pay their taxes. Some
such eases have been brought to my
] knowledge; and the persons who were
in TINS situation, on finding that it was
not receivable in payment Of State taxes,
have very naturally complained. If the
money was good enough to pay the sol
dier, who receives but eleven dollars Del
month, why is it not good enough to sat
| isly the claim of the State when he,
agent applies for State dues ?. We have
no State bank circulation, we have no State
| Treasury note circulation; both Of these
descriptions of notes having been hoard
ed as fast as they could be collected by
moneyed men. The consequence, there
fore, is, that the holders of the repu,liated
| Confederate issues are driven to the ne
cessity of shaving off those they have,
| in order to procure such as will enable
them to meet the demands of the State.
/ While it was not the intention Of the
Legislature to place the tax payers in this
condition, such is inevitably It's effect
| They must have such III ney as will an
| swer the purpose, and TO obtain il they
! must apply 10 such persons as have it,
| ana must pay them such price in these
! rejected Confederate issues as will com
| mand it.
! The ouly reason have ever heard assigned
/ III VI tHIH tiitt IL
| was designed to force. persons holding this
currency TO fund in Confederate bonds, and
| thus retire il from circulation. This would
| all lie very well il every man who had these
| issues III hand had no Use for them either for
the support OF his family OF the payment OF
debts. 1t unfortunately happens, however,
for this theory, that four iiths ot the con,
munity have no money 10 invest. All they
| receive they lave present aud pressing use
| ~ r.Ili Ia.
wants oi those dependent uponth hem. Fund
| iu", fall SUCH is therefore an iinpossi
| tiity, and the circulation th,.s rejected cant
not be retired in this way.
Congress, lceling the difficulty, and de
| srous to compel the funding, passed an act
which provides that all notes of issues pre-
| vious to December ist, lSG2, should bc fund
| able in eight per cent. bonds, if presented
| by the I'D day of April, 1868, if not pre-
| seated by that day, lut presented before the
| ist of August, 1863, they were then iunda-
| bic iii seven per cent bonds; and these issues
are not fundable ut all after the lst of Au-
| gust. Notes issued after December lst, 1862,
are iundabic in seven per cent. bonds until
| August lst, 1863. and after that.date iD four
| per cent bonds. Notes issued alter April
| lst, 1863, are iundable in six per cent. bonds
if presented in twelve months from their is
sue; but if not so presented, they are fund
able in four per cent bonds. This looks to
me very much like a repddlltion to some
extent oi the obligations assumed by the
Government and Il is not, therefore, sur
prising that such legislation should have
created uneasincss III the public mind, and
aided in bringing about depreciation, and 4
want OF confidence in the ultimate payment
oil these obligations.
Other legislation on The part OF Congress
has tended strongly TO produce the same con
clusion in the public mind. The mode III
which taxes are to be assessed upon credits
in certain contingencies, may be mentioned
rs one that tends directly to the discredit OF
the currency. Better far wonld it have been
TO make these ISSUES a legal tender III pay
ment Of debts than to resort to ii compul-
sorry process like this to force its reception
by fhecrcditor; and while this is being done
our LEGISLATURE is urged to reject the saline
paper issues in payment OF State taxes!
When the Government casts suspicion up
on it's currency, and the State Governments,
and the Banks, ,sd Railroad Companies do
the same thing, then the people may wellbe-
come aaunea. The consequences cannot
fail to be most disastrous We cannot change
the action of Congress, but We can remedy
the errors Of our own legislation, and thus
show that we are disposed to uphold the
credit aud currency oi the Contederacy.
Tie appropriation ior the support OF the
conyicts in the penitentiary is exhausted, and
it is neccssa y that further provision be made
at the earliest moment for their maintenance
during the year This is owing to the fact
that the prices Of all articles necessary for
the couyicts have greatly increased, and are
still advancing The condition. OF the couh-
try must be kept steadily in View when legls-
Iaiing on subjects OF this kind, aud We must,
n regulating appropriations, bear iii mnid