Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-07-14
Tho Rebel Financial SIIuAtIOu--Ths
War can be Carried on Without

Iho Ike bel FlnanclAl SlluAtlou-SA he
War can be Carried on Without
Money.
[PrOm the Atlanta, (Ga.,j Register, June 25th.I
When the money power is backed By ig-
norsnce or meanness, the people are sure
to suffer In many portions Of our State
the old issue of Confederate currency will
not be received in payment for the necessa-
| ries Of life, at more than thirty three cents
on the dollar, and a great many refuse to
receive il at any price whatever.
There is Il class of citizens who are uu
fortunately too ignorant to comprehend
the plaiuest provisions of the currency
bill, and hence they are disposed 10 place
all of the old issue upon the same footing
as tn one hundred dollar bills. They will
exchange their products for new issue on
ly, the consequence of which is. that spec
ulators who deal with them, let them re.
main in their ignOrancs 10 order to get a
large abatement of the price by payiog in
new issue This course of traffic necessa-
rily creates a demand for the new, and a
discredit of the old currency, even 10 that
class of mercantile society who know it to
be wrong, but still are daily humOring the
fraud; we speak of 1t as a fraud, because
OF its practical workings among those who
are compelled to suffer.
Iu some leigh borhoods corn is selling
at twelve dollars bushel, payable in new
issue, or twenty dollars (oeside the dis
county, payable 10 the old.
The natural course of trade has ten
dency to throw the best aud most availa
BILE currency in the hands of the wealthy
and we can hardly believe that it is owing
to the couuivauce of government agents
with the demands of the speculators, that
has caused the disappearance of the uew
from, ampnu the naEsRa We n
know however, that brokers aud specula.
tors have it, aud control it, and that great
Inconvenience is suffered because 1t can
not be had by those who need it mOsl-we
have heard of it being sold at premium
OF from FIVE to ten per cent. 10 otner places,
but we trust that 10 such fraud has oeeu
or will be imposed by the money power in
our city.
Currency, ofauy kind has become alarm
iugly scarce. The auount absorbed by
fuudIog. did part Of the work. and now
the neglect, or rather the failure OF the
government to meet its obligations, has
produced striugency which is ruinour to
the "depe ndent class" Of our cItiz4ns.-
There are lauudreds of persons with quar-
termaster's aud commissary's certificates
iu their po ckets. who have nothing avails
BILE to procure the necessaries of life There
are thousands of soldiers on furlough who
have not, and cannot get a single dollar
of pay, wheTewiJh TO purchase d bat, a
knife, or piece of soap. The apology for
this is, that the Withholding of this pay
ment will ch eapen the commodities of traf
fic. Il has not done it yet in the slightest
degree. The persons who have snytbiug for
sale are, gen orally speaking, rich enough
TO hold then. Bacon is still S4, aud hJur
has advanced to $50 per huodred. IL has
also been urged that the imminent military
pressure at Richmond, has, eud stiil is
preventing the preparation of the new cur
rency. This can hardly be, for if we are
correctly Informed, the issuing department
with all its clerks and note siguers has
been long since transferred to Columbia,
S. @.
We are not alleging that the Govern
meut is ut fault iu this matter, bat AS pub
lie journalists, we feel il our duty to make
known the fact that the most needy classes
are sadly suffering for the want of money.
Their complaints reach us from 4 thousand
sources-and we desire this pressure TO be
made known through the medium OF the
press. We presume, however, that the re
suit of the recent sale of the iron clad Sc
curities known as six per cent. Confeder
ate Bosds, offered at Columbia, will be q
more palpabie argument than anything We
can say. The Bonds were good enough,
but the money TO pay them was not IN the
country.
This leads US to remark upon the suffice.
| of ~ 80 notes." that there is fhaHeIa!
reason apparent TO US, why this class OF
our currency should De discounted by mer-
chants or brokers. When they cay that
| the Government has declared them to De
"bouds," We answer, that every bill issued
is bond. Bonds with coupons are not
used as currency because they are TOO
| bulky. Tbis objection does not apply TO
the 80 notes. When il is said that they
are taxed, we reply that the interest is two
| dollars and thirty cents 10 excess OF toe
tax When il is said they are not receiv-
able in payment of taxes, We answer, that
thev are not wanted tor that purpose, 9th
erwise the per cent. bonds would not be
| selIIug at from 80 TO 60 cents.
| f ght per cent. bonds are now selling at
from o TO 20 per cent. premium. and there
! is no disability attached 10 the 1-3O Notes
that does not attach TO these bones. Hence
we reason, that it is the speculation of the
brokers which has put this really desirable
currency so Il At IN the market We there
fore urge holders TO hold them il possible,
for they will in our opinion take their
proper standard before long.
The Goveroment certain , has power
to reform many of the evils which this
srringency in the money market Is pro-
ducing. Aud in dong so lis Owe opera
tious will be more successful. IL Is =
well known fact tha; owners OF horses aud
mules and beef cattle 10 many instancrs
| conceal their stock, or else sell TO some
government contractors for tess Prie,
fhIH Is ofsrtG them tn esTtyIeltsS oy Toe
impressing agents. They declare thai