Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1864-10-26


the banks have limited capital Of about
$60,0OO,00O, and beyond this sum have no
power TO purchase government bonds
The great mass of our citizens, then of every.
class, must combine, and take government
securities, and nothing else, in exchange
for. treasury notes, or the public debt must
infallibly go abroad. There is no single
class Of our own citizens who have the pow.
er to purchase and hold 81 500, ,0e0, GOO Of
bonds. The question, then, is; between
public debt being taken BY. our entire pop,
,ulation of all GLASSES, or BY foreigners; In
the manner and on the terms already indi.
Gated. Judging from present indications,
there will be, mo difficulty in finding pnr-
chasers for onr bonds among, those who are
sending them abroad. Shall they be allow
ed to go abroad? There can be no escape,
from the ultimate payment of the debt; if
held by foreigners, We could not eyade il
if we would if held BY our own people,
we would not. if We could and under no
circumstance, / trust, would suggestion,
so dishonorable, be gravely entertained.
/ In > the consideration Of this question,
therefore, such an apprehension as this
should be allowed no weight whatever. -
Every man must take home to himself the
conviction that, in proportion to his proper
,ty, be is the debtor for his share Of the ma.
:tional debt, and the question for him to de-
,termine is, whether he will hold that share
of the debt himself or with clear percep-
stion of the consequences, he will permit it
Itobe taken and held by foreigners. y
!! If it be true that the public debt must
:infallibIyb paid thateyery man'sproperty
is bound forits proporsionate share and that
all must pay taxes according to their wealth.
ito defray the annual interest, then it follows
that all are equally interested, in limiting.
the expenditureslto. the smallest possible
sum; and in purchasing and holding the
bonds that thus constitute charge upon
their states. aaks le r5z.-sss - c; +aisa:.
The expenditures depend iu q great de-.
gree upon the price youahall fix: to- you
alone have Congress ioonfded the poWersof
exercising any control over this question.
And through. you may those engaged in
furnishing supplies to the government, and
for the payment Of whom the public debt
increased most easily and naturally learn,
how much better they are served, when
your moderation in restraining the public
expenditures, confines within more prudent
limits the mortgage upon your estates; and
with how much greater safety they may
themselves become the purchasers Of these
mortgages, then permit them to pass into
the hands Of foreigners. So -
The whole question, complicated as it
may at first appear, is perfectly simple, and
lies in nutshell. Congress has ordered
the following expenditures to be made, viz:
For pay of the army, ~ = S75, ,OOO,0 600
For clcthing, shoes, material, 4=>, - >,
transportation, &c., 125,0QO, 900
For provisions for the army, 100000, 600
,,.ssgs.l. sSOO,OOO,Oe0
They. have directed these expenditures
to be paid for in treasury notes, and in Ger
ti6cates of indebtedness, bearing six per
cent. interest and free from, taxationj and
for the security and ultimateredemption of
the treasury notes, they have provided nom
taxable six per cent. bonds, which they di-
rect me to sell for treasury notes. .Is y.
,You have now, before you the whole
scheme of the currency, and Of the govern.
msnt finances That these supplies should
cost no more than the sum provided, de,
pends Of oourse upon the prices; and the
prices are to be regulated by you. ,.
i have endeavored; to show that the best
interest Of every citizen consists in the es-
tablishment of moderate prices, but no ar.
gument seems to me as forcible-a "a clear
statement Of the simple facts Of the case.-
This have now endeavored to make.
If We suppose the purchases to have been
made, aud the community to be in posses.
sion of the $500, 100000 of treasurynotes,
the next question is, will they pass them
from hand to hand, in exchange for proper.
ty at extrayagant prices, until they fall into
the hands. of foreigners, and are exchanged
by them. for Confederate bonds? or will
every citizen take the government bonds
himself? ] have endeayored to prove that
our true interests consists in following the
latter course.
Hoping that you may concur in these
views, and that your deliberations may se.
suit in promoting the welfare of our suffer-
ing country, Iremain, = -. - -
.; ,'-ss<saa' Your most ob't'sery,t,
- @ca GA. TRENHOLM, !
80 Sec Of Treasury.
.. ~. Impressment Prices. j.
The following list of leading articles with
their prices, have been agreed upon by the
Commissioners Of Impressments for the
States Of Florida, South Carolina, Gebrgia,
Alabama, Mississippi, and Tennessee.
Bacon, sides, per lb. " "...:.s1.S7
Bacon, hams. :.......,......l.5l
Bacon shoulders, ers,....,...................I25
Beef cattle, gross, per lb. ..."........... 26
Brandy, per gal :. .............. ........".3.5O
Corn, shelled, per bushel. el................2.25
Corn, unshelled. lled..........................2.lS
Corn meal, per bush. .............:....-s.2.25
Coffee Rio. per lib b,,,.6O 90