Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-11-26
The Bank Convention.

The Convention OF the representatives. o. Banks 10 the
different States of the CoIfederacy met Augusta
on horday, and afjournep Tuesday evening of this
week There representatives of banks from North
Carolina South raroiua Georgia Tennessee. Neither
Virginia, Fl rda Alabama, hsi-sipp nor LousiARs were
represented .. g. PARSLEY, Esq, Of the Commercial
Bank, and VIM. A.. WEIGHT F. of the Cape Fear Bank,
the only delegates from North Carolina Th follow
ing plan agreed upon by the ugusa Convention,
whek is substantially the that proposed BY the
ouih Carolina banks, of which plan O. MoRDEcAI Of
Charleston the author:
Whereas, experience has demonstrated the duss to
be collected by he Government and which Treasury
notes are made receivable inadequate to absorb
fcent amount OF the notes, te prevent the cvs
creased paper currency and it deemed essential
of the people and OF the Government that
be adopted by the Government fund the
entire amount of the aid issues much thereof .ha
reduce the sum OF the currency to two hundred millions
less Fer the accomplishment OF this object the blowing
measures to the country and the Govern
l. That a issue Il Coupon Bonds be made to the
uat of Thousand millions Of dollars. The bonds
bearing six cent interest Coupons payable annual
in coin and that in future, to meet the wants of the
Notes be abandoned as far az pIact5abs aad 10 ia sum
cient for all rsqareMent be edoptsd TIE true policy to
sustain the credit of the Confederacy.
That Act be passed levying tax Of sixty nisns
be collected annually during the whole period
Ods and that he coed a Of sh. be
pledged for the contauancs of such tax until the stury
cen coupons Of the above bonds be received
in the payment of this tax in lieu of coin.
That b.fore the bonds shs be efersd for sale
other prios above they shall FIRST be
apportioned among the States OF the COnfedsrney and
hata Con missioner shall DE appointed for each State to
make known to the tex payers in each cocon District
of bonds to pay this specific tax, and who shall
sell at to the tax In each District tho amoust
bonds required for the OF their that
Trsasury notes of all issues be received Ia payment for
the said bonds and that the said, payments sha be
quired nstslmsnts suit the circumstances
OF persons OF moderate means bat the privilege Of pay
ing Tuil at any time shall be accorded to all.
4. That all existing distinctions between treasury notes
Of different Issues and dates be abolished.
B. hat the interest the stock of the fifteen millions
loan be paid by checks the treasury and that the said
checks be received payment of the export duty cot
IN the the the bonds of the
Sc loan.
That five per cet eat san be established similar to
tie first original Call oan and that all Treasury be
received the Treasury therefor and that the
five per cent and four cent call loans be sboEhed
T. That the right of the holder Of the Treasury Notes
which upon their face uadabs in eight ceat stock
ought to be guiZad and eight per cent at short
period provided fer that purpose and Also that all the
privileges attached to the original six eekt call loan
be restored t. the holders of all outstanding certificates OF
III 1t lOsR
That an increased duty be levied all imports
during the continuance OF the aud tha the
be collected in coin approved bills On England
France in the interest the fifteen million loan.
8. That Issue Department be created by the Govern
men and kept separate from the Treasury Department,
whose duty shall be to supply issue OF Treasury
notes exchange for the amount that remain 10 cir
culston OF the issue and that the Issues shall
express the face OF the bills that the receiva
bic in Of the public dues except such
cfcally required to be paid in coin.
TO- That there should be issue OF bills of lsrge de-
facilitate the transmission of fand. and the settle
@ balances.