Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1863-06-25
For the Journal

or the Journal
MEssRs. EDITORS Il greatly surprised at the
hue and cry raised by many people against the LATE
law OF Cougts5 passed for the purpose OF inducing OF
If preferred, coercing, the hofers Confederate
ry notes issued prior to April 9Th 1868 to fund them
Now, that something had to be done in the premises
must be eoSitus 10 every thinking man, the ume oil
our currency, already too large, daily increasing
and that IL the increase Dot in way che kd
1t was equally obvious that the whole currency would
in time become vaueiess, from its excessive abundance
and in doing greatly jeopardze cause for as is
sufficiently plain, money getting to be ah1nd
ant, that 1T diminshes in vlue The Government Das
now to pay live or e2 prices for ything it buys ard
with the continued Increase OF money, would soon have
TO pay twenty or fifty pric and IN that event. 20
sustain ITSELF would be under the essity OF obtaining
supplies, then paying for them with treasury any
currency excessive G amount of gold would pro-
duce the same results Every Involvement held out
to the holders OF treasury fund them and there
by keep currency within reasonable limits its only
salvation. But three operated defeat this
most desirable result First, the ignorance OF por
ton OF the people who do not think upon the subject
all second the cupidity of spectators, who thought
they could make by trading with the money than
by funding it and, third, that great many reason
with themselves after this wise-l won't invest in Gov
eminent Bonds, fer if our fails will get of what
money have On TO somebody else. | will not
undertake to say whether the plan dopted By Congress
to meet the difficulty not the best that
might have been done; it is what they did do, and
what must govern actions and instead of denOun-
body eIse we ought promptly to aid in carrying
the objects of Congress by striking of circulation
the Treasury Note issued previously to the 9th of pr
$685. so that people may either fund them, pay Con
federate Taxes with them hold them till the is
over and call on the Government to redeem them and
If the Banks viii have the to refuse them it will
be done, otherwise not and the purposes OF Congress fa
Tor II the Banks continue TO take these they
Will pass among the people whether they possess any
value or not The Government does not repudiste the
bills, it only conditions that if the holders OF them wish
10 invest IN Govern meDt bonds drawing certain rate
u interest, they must DO before time,
Valt till the war Is over in the meantime it will take
hem for taxes other dues to it. Or If there is any
epudatiOn IN It, the government driver TO it os
holce of evils by circumstances over which it bad no
ontro, namely the continuance of the war, the cupid
y and want of patriotism of those who hold the mon
T. repeat the only safe course, is for to throw
hese Treasury notes out of circulation and only
bose issued after the 9th OF April, 1868
which there is and will be an abundance S
}: use, ard let the holders of the old i
sues fund them, pay their taXes the Confederate
government with them, or hold on to them till the war /
over or IN the meantime they should have for
amount, they could doubt exchange them those
no did want them for small discount, and in nv 8
dgment the choice lies between that and riskiDg the
hole, and our cause with 1t. | repeat, / am very
UGH surprlzed at the ilIiberal views taken OF the i
on OF the Govern ment in the premises by people in
neral, aad more especially at the harshnes5 of the
larIest0d COarier the Editor of which ought surely r
IRE liberal views. NJ a