Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-12-10

~ u..su.l.sss sifs Ia opll GA giih lLs Ssets'sfy
Al Che Trsssuy that som, sddions legislation Is ef-
genital 10 restore and tuisain the cufreuoy Tho
cures heretofore adopted, strong a. y we're, hsvs
sanding wheo the OF February, 1854, passed,
haa been greatly reduced by the process Vt undng and
ef ts ation bl. still something else to improve the
currency and give 2dsnce 10 the country seems 10
be wsalrg. Prices have not fallen IN proportion to
the diminalion OF the currency. Satisfy the country
that the paper mousy issued By the Government can
and will DO paid, and you will have removed the main
c.use Of its depreciation. The plan recommended By
the Secretary of the Treasury, aud Embraced, With
some fsW notifications. In the. bill OF the committee,
ought thlLk, 10 satisfy the pubic mind that the
Tf notes author Esd TO be issued III rest upoa
stable ounda ion; that their ultimate payment would
be we'll secured
The LIST tectIon Of the bill; exempls treasury nO1ss
fsom ali iax.ton,
Toe 81 81 ion provides that pending the war one
fifth Of the treasury notes annually reesid into the
treasury In payment OF taxes shall be cancelled until
the shall have been redccsd 20
hundred and 6fy millions. ~
Toe 81 sec!ien provides tha! after pssos the tlths
received by the government OF the annual crops OF
cotton corn aud wheat N the ratio of fouI -ninIhs
cotton tour OF corn and one uiaIh of shsst snail be
applied to the redemption OF all treasury notes 10 ca
cuation ill the whole amount shall have been redeem
| I'd. Tee cotton II tie amendment proposed byhe
committee 10 ado ed be valued at rs cents per ib
con 81 ptf tusne, and wheat at ~.
Tue n section ntil uls the tai kind ON these
articles after the war, provision that esst .
aJipg the same shall rcsive credit for their then
market value 30 az to tqaa z, their taxes with other
taxpayers.
Ins section provides that holders If tfeasuiy
notes Williog 10 avail themselves Of the lien ,fsrSa
on cot on corn aid wheat may convert the same into
treasury cert Hcstes bearing per cent interest from
zoe inns of the c00verslon, payable snLuhliy--the
holders of such osrhoa.es 20 receive payment there
for in cotton, and wheat ct The paoes aud In the
proportions stated &C average OF ons.ftsn annu-
IL, q I'll the Who.e amount 10 paid.
Tue Oh s;c;ion provides u a. ali planters and farm
els liz bio 70 the taT in kind are 10 be AoSsd to use
these TrsssuIy cer fcatts In payment OF their taxes
II they prefer 10 do co.
Thtss erhfo ltss Srs made LssIgolbls and the pub.
e a th is sesmny pedgsd tor me iuihlhaent OF the
brOSitioas OF the ko. The three ading articles Of
eJttop corn and wheAi, wsro tetc ed a. d cur for
the redemption o. the eurreLoy, because OF the O.
ha! they Of grta.er, more uniform, and more Ger
/ Iain yslds than other productions OF the poL Pro-
ducefs Of these articles wi have no tesson TO com
plain OF their selection, Tor the reason that they re.
i've credit on tex Gootun for lh,if market vaius,
when teLved to tue government 90 AZ to place them
upon al 90 Iality with olh,r TAI papers.
The obJ question then 10 be considered IL, will thie
pledge sec the Ultimate redemption OF the tu.rency
now out and TO be issued?
TIE amount Of Treasury notes to be Issued is limit
ed by law, AID THE Limit wi bI annually reeuosd
DOR the process by Who'll onI-hiIh OF what may b.
eeivtd IN pay mGnt Of taxes will be ;led III III
circulation is Iecu,ed " one Lundlsd and fy mil
llona
Ine security provided By the bill my BE- fahly
| estimated as foI O1s;
Anru,l cop Of corn supposed to be raised in the Con
fsdsrate States, in the exciting state of thipgs-
200 goo 900 bushels-l-l0.h 20 600 900 atone
collar ...................... s 40. 900 DOC
rs 100000 busneS Internationally,
26Co.OOO. al 81. ..................' 5000 90
| OolLol--ayersge CT, annually IoI D years
aotr The VAr, 8 600 0C0 bags, one-tenth
500. 200. at s'20 ........o...,..... 81 500 co