Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-03-29
MORNING EDITION.
ATLANTA, GA.
TUESDAY MORNING, HARCH % 1856
TmE PoURP PKR CsvTs.

We have heard it stated By some that the fouT
Per cent certificates now issuing, could not be
assigned and it has also been asserted, with
much posidvsness, that they could not be used
By an assignee for the payment Of taxes. One
gentleman writes us, also, from Alabama, that
81 impression prevails 20 some extent IN that
State, thas they viii ao5 be receivable al al in
that State, for taxes, sfter the lst of April.
Upon The Authority snd at the desire Of the
Treasury Department, tie Richmond SsztissI
announces that they SsiA be Teesived ia the pay
ment Of the taxes not only Of the perssn to
whom issued, bat also If avg asSigEss.
The certificates are sssignable IN The form
usual with certificates Of stock, AID holders are
advised 10 take the usual business c0urse Of
making sn assignment bsfOrs magistrate,
using the form to be found on the back Of all
Csnfederate registered bonds, bat leaving
blank Tor the zane Of the Assignes. The nsme
Ct any holder can be inserted to suit occasions.
The Enquirer very sensibly objects to the
mcds Of assignment thus semtofieially an
nouaced, snd thinks It will diminish, very
greatly, the va.Ue Of tbege certificates. Like
registered bonds, they viii se7er command the
sane value Is coupon bonds. Even for tax
purposes, the notarial Enforcement will greatly
impair their value, and when they arc to be pur-
chased with the new currency, CT the old, ct
three for two, the question IS to whether It is
wiser TO buy these certificates, or TO psy taxes
il currency, is one very difficult to answer. It
nay be 70 the interest of each individual TO
fund as much Of the old currency in tie four
per cent. certificates IS viii Psy his taxes, but it
sppesTs very Questionable economy to procure
surplus in the expectancy of these certificates
commanding their par value in new currency.
The unsettled and uncertain condition Of the
currency prevents the most experienced fnsn-
ciers from forming an opinion as TO the best
policy for individuals to follow il this matter
Same hold the opinion that four per cent. esr-
ti6cAtes viii command high premium; others
that they viii not be worth more than 6ty cents
ig the dollar in the new currency" It would
certainly be much more convenient to the busi-
ness public if the department weuld receive the
certificate with the assignment used upon an or
dinsIy bill Of exchange, or other commercial
paper. Il would simplify transfers, and save
much trouble.
Tbs Sentinel Is also informed by the depart
msns that when certi6cats of deposit, present
ed by a taxpayer, shall exceed the amount Of
bis taxes, the tax collectors win be authorised
to give E.n new eeTafca,s for the ezesss
For example, if citizens tax be seven hun-
drsj dollRrs, s0d he give in certificate of de-
pOsi5 for one thousand dollars, he viii receive
new certificate foT three hundred dollars Thus,
q certificate lor = large amount may serve the
successive uses Of several taxpayers. FTac-
tional paris Of hundred dollars, however, the
tax payer viii b required to pay in money, ss
nc bond Containing ouch fraction will be issued
from the treasury.
The denominations Of the bonds 10 be Issued
in redemption Of tee certificates Of deposit now
being given, viii be sjx, and no more, viz: one
hundred, two hundred Eve hundred one thou
sand, three Thousand and Ave thousand q