Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-02-27
FEHAN0IAE NEUTRALITY-SUSPICIOUS. OF
TIE EssEssa.

ing the financial measures Of the lsto CoHgsesa.
Below We give some extracts lEom late ex-
changes, compiled by tbo Charleston COnyisF.
Tbs MAeon Telegraph ssys:
The people arc neailessly alarmed about the
magnitude Of the Eaw tax IN connection with
the tremendous deplesicn of the currency. They
say i viii practically be twenty-five or fifty Par
cent instead Of five II must be Tesollected,
b Us7eT, thas The Government win be folesd,
noseHs vsteaS, 70 bring flruaEd tie Hew issus or
increase the issue Of small bills. TIE people
| will b. compelled 70 have cauent money, nor
/ can the Government ask its creditors 70 take
notes which il has declared out Of eirenlAhoa in
. few days. VIXEN the tax comes to be paid,
therefore, money viii be made easier. So of tie
/ S.ste Tax Tho enormous depletion must lsFealy
redues vslusticEs, and this viii make the tax
easier to tto people, although ths revenue cslcu-
lAtiols Of tbs Treasury Department viii have to
I be cut down coTTespondiBglY.
The Columbus Ska Gays:
] We have advised al cur people 10 observe in
! good faith aud assist the Government IN carr.
I ing ont, in letter and spirit, any currency bill
/ that, Congress might adopt We adhese to thas
| advice now; though We must confess that the
1 bill adopted is bitseTer pill fhEu We had an
/ Fieipssed aud shst we shoald rejoice if the new
! Coz ggess co1ld mitigate Its haTsher provisions
! Tho Atlanta COEteasrGeg closes 3 Eotics with
i the following remarks:
1 The unceT5sinty in the minds Of orr etiEsrs,
ss to Tho zeal operation and effect of hs currency
( bill, and the apprehension hat il viii lssd 20
/ the probable Tasuls q ihs suspension Of nearly
! sll business, iraaoratiyely demands the rss5-
/ ssnbiing Of Cougreas without delay. That
bedy ought 10 Do iH session by The frst Of April
/ ThsIe is al absolute necessity that the Plesi-
/ dent should call together the nov Congress in
advance ons month Of the psIiod nsmsd By tbe
resolution foT It's Resembling, 10 TeclifY one Of
/ tbe most illdieested measures that was ever
adopted BY legislative body, 20 wiz: the now
currency bill.
The Macoa Telegraph Of the 23d says
In secordance with this provision Of he tax
act Of 1868, the treasury agent in this city Is
/ still issuiug certiiea.e8 Of depssiie foI taxes
! made il notes Of ever Eve dollars, and although
I be has received instEucti0Gs under The laws
passed the I7tb and 18Th instant, they do not
direct hn TO discontinue the issue Of lax csItif
/ Gates, which, it Is presumed, they wonld have
dons if these acts repealed the foregoing clause
in the tax SCI of 1853.
The Inquiry has bean addressed By telegraph
to Richmond 20 ascertain The exact ssEte Of
fsols and TO settle the question whether The tax
os Of this year arc in ssc. payable 10 the curTsn-
cy az il stood before tie passage Of the recent
sets-sutiees, Of eOurge, 20 the thigty-ihrse and
JcE E9AAt NlAAiaAyAA AA4 bAAi1 0fGE lNg NAlA-
L. after the FIRST Of April We hope to get an
answer to that Inquiry in time for the present
issue, IS If will materially affec. tbs value Of
he bills over i've dollars. II they can be de-
positsd st i've per cont interest Go meet fulurs
aecruiBg taxes. this fset win relieve in part the
tendency to rapid depreciation.
The Rsle:gh (N. c. Conj:derats says:
On sch g subject, 70 please everybody was
simpl on impossibiliiy Congress has mat the
nes .ssiiies CT the Taiion. IL has laid 3 tax to
meet The wants Of the Goveinmcnt-snd il holds
out q syEtem 0 funding adequate 70 absorb the
redundancy Of the currency--t0 make the new
issue equal 60 gola-so destroy hoardiRg, and 10
save tho nation from bankruptcy TAe5o Is no
TeDudissi1n 10 tie TsGtseI-snd The bill sp-
oIosches e5 MAR equality ss coEId bs expected
The Rome Courier sAys:
Tto currency iii provides for greatly feduc-
ing the present outstanding CoatsdsIate notes,
and gsusTui lush for investing Confederate
money may be expected. There is as least enc
CHARGE for all TO make psrmsnsut investment;
viz; il the 4 per cent CeEfsdGTste bonds hay
iug twenty yesrs TO run, End We seriously uUsg-
tion Whistler any bs.ter inv5strueEtcan be fcUnd.
Every sensible man haa long Eincs seen the
euaInent necessity Of greatly reducing the cur
rsncv, snd no hz7a no doubt tho p1sssal bin
will Withdraw as ruueh IS rTCHid be pTudsut or
desirable 20 accomplish st Cnes. The tax bill
isvIes Eve per cent or real estate, aud personal
property, aud from 10 10 300 incomes and
profits. Tii; Is 20 m-IS than If ough. 70 ho 1n
Ell 7.so ara 81 home aud -1sEI1Z money, bat Il
wiil 5s torIibls Cn mzay lliszg, UE3, neglect
ing al business inters g., hsva devoted .heir n-
tie attention TO duties a th3 Ee-d Thouga Is
nav thus be very baTd en- some. yet She Tealzz-
ton Of the absolute necessity Of greatly rafiu-
cirg fho circulating msdiEm viii probably cause
universal scquescauCo
The Richmond Wi;g says:
We would clutlu cur citizcag acairrt disp0s-
ing too rc-kteCsiy of the ConfedoTn-s currency
sEsy new hold Shvlccts- who snow It's value,
arc dsosiy Interested 10 dep5eciainz { 10 sdd -
the urzss of thsr siTesdy iiigottsn pains L is
ths policy OF every ore 10 sscurs At once gUffi-
Gent amount of feuF per cent. bonds 10 ma5s
His tzxes. s1d be csnnot lcsa TaJFe BY submit
tug 20 G. tax Of oRe-thiTd Of the remainder for
the beoe6t Of the G 5vsInment by exchanging it
after 1sg April for the new issues lhan by pay
ing il 0at new for articles advanced proportion
stely in pTice. To paYs greater advance on
Az,iees than Cne third theiT former prics is
clearir losing husiness We offer but = WoTd
of sdY,ce held on 70 your present notes and
! exchange them for tho u6w currency, If y0u DO
not wish 70 encourage the sharpers, who wsaid
Tuthlsssly esp the vitais Of the Government fer
their individual gain.
The Rebel renarks with its usuGl point:
We rcgTst % see that Some Of our e6tennpOrs-
riss Of The press have already commenced their
dezurciations Of tho legislation Of Congress
uooa the currency We ara ct z loss TO con
csive what possible good they suppose esn grow
out Of their warfare upon this Legislation, and
are surprised that they do not see the evils which
must necessarily result fTom,their ssEsuits Our
currency is inst nsH in a condition, when it will
not bear any further dimingtion Of popular con
idonce. L Is sufficiently deprecated, and needs
no stimulus TO its downward progress, What is
needed now, is ccrfdsnce in the shility Of the
! Government 20 sustsin itself and its Currency,
and 20 insure this, va mus have ihs sctive and
earnest cooperation Of every loyal citizen.
The legislstion which has jest been adopted
/ is by no means perfect. 1t is not what we de-
sired that it should be- bat i was subject upon
which there we're wide differences Of opinion,
and very great diysFsiiy Of sentiment. Congress
was divided as 70 what system should be adopted
to redacs our too redundant circulation, and to
| improve its character. All admitted the abso-
lute necessity of doing something to prevent She
| currency ffom falling worthless from It's own
weight. The plan adopted was a compromise
between conflicting views, and was probably
the best that eoald be agreed upon But
whether it ig good, bad or Indifferent, it is now
| fastened upon the country, and the question IS,
/ whether We shall develop what there is Of good
in il, by earnest and pstri0tic efforts to rake it
1 result IN good, or whether we shall defeat the
| object and purpose Of Congress by unTeasOning
/ aud woFae than useless assaults upon its work
| The Mobile Register and ddDsTtiSsr remarks :
! It is impossible TO doubt that the holders Of
| treasury notes are great gamers by the legisla-
| ton which has just been made pablic on the
currency. Fer DO it known that there was
| party in Congress- and in the country that ia
vorsd tho policy Of dropping it dead lOss on
! their hands. Wiser and more honest counsols
/ have prevailed, and instead Of repudisting, the
Government endorses aud provides for it as an
| exiting bona dds debt, It is needless to urge
upon the psoa.e 70 iuhd promptly, aad thus ia
las Government. The bill itself provides suf-
feioRs summons to this course of duty. The
tax will drive il into boads, and ne msn Of sense
! VIII keep it cont in tha eolan beyond the time