Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-03-25
FINANCIAL AND ooa4EscAt
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Between the present time and the lst OF pril,
holders Of Trestury VII have - ad,p, oue Of
three courses, or pur. ua each them 10 p.rt, VIZ:
lst To fuad their notes, x'eptfves, which ore not
yet fundable,) in fcur Fer cent lords
a. Tocarry them until q 81 Of April, apdtrebsrge
them for the currency at apparent lo OF OF
third ofthe amount. o.
81 To invest the amount in something repuilsd
present or prospective nae that MAJ he sold after p
April at price not less than Sst per cett. redustbu
from the cost.
Those who have not yet funded an amount sufficient
to their taxes for tie present year, should do 70
without further delay. Those who Rave a surplus be-
yond that amouot mast determine whether 1t /,
txoed'nt TO carry the amount to Is. April put IL in
10 bond', merchandise in money liable 10 the
tax. l. ascertain that all the currency will rot be furd.
ed before the I'd of April and that the potes nov chang
ing hands every day. 10 sales and retaes will ultimately
be left upon the hands Of those who will have to meet
the tax Of one-,hird. Tire large msorty of persors
have dsposedo their funds that Il ey win enter eee.
fully and mOnsylessly upon the ew financial era con.
graduating themselves that they will not lose anything
by the Tar on the currency. Those Who carry
the tax OF one third, may or may not ielci.
tate themselves. but they will be prepared with the
remaining tvo-thirds, for whatever may turn up"-
The former viii embrace the sellers, after LIT April.
Che latter will corsttu'e the buyers they will hold
the money The fact is clear that sellers will be more
numerous than buyers when the necessity arises SO it
will arse, for putting ino the marke. whatever las
been bought a means of eVadng the tax, or with
held from sals to asoi The reception Of the present
| currency.
Many persons will be embarrassed in their calculations
Of the future by the action of the bank naus yes
terday They have resolved we learJ not to receive
on deposit after ls April any OF the presen currency,
excep: the s2's and Sls In determining TO reject the
larger denomin aens tie banks have sced udiciousy
they will expedite the conversion of the old currency
into In rejecting the fyes they will cause some
inconvenience t, their customers the notes Of that
denomination will constitute the large portion OF the
currency fer several weeks after lst April The recsf.
SHY OF using HEM in making chang, will prevent their
depreciation, unless the amount in circulation becomes
burdensome but that contingency may be prevented by
the action o. the banks which will have tendency 10
hClders to iu "a them in four per cent bondr
1. is emnenty desirable TIA all of the pre- ent cur
De NilLurtWn from as spec dly
possible, and the acton Of tie banks is therefore
In the right direction. But that action need no.
enbanas any one. The III section Of the "Currcucy
u" provides that "no call ctrfcIte shall be issued
until after tie 1t April, o." which implies that they
may be issued and after the 81 Apn. The 5h
ton Of the oct provides that after the Let April
"he holicrs of the notes Of the old notes. ex-
cept those Of The determination OF hundred dollars
after they reduced to 60 IS cents In the dollar
by the tax aforesaid, may convert the lane into call
certificates bearing interest the of four per cent
per annum, payable two years after the ratification
of treaty Of peace with toe United Sta es, Qnless
sooner converted iGto notes"
Under these provisions of the Currency Act" hold
of present currency Except $lO0s and s5s) may
not only find pa,s OF deposit for ,m after they are
taxed bur iSe four per cent interest on the amount
deposited Moreover the certificates Of deposit will be
transferable The fves not receivable on deposit
IN il they axed
The following is list OF the prices obtained
yesterday at Nessrs. Lancaster & Co.'S auction sale Of
bonds STOCKS et:. NJ. T. W. X ssee, salesman Tie
bonds except cotton loIn) sold with interest
added to day OF sale: