Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-08-23

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our cor script gatherings whenever and sherever
found. Our naval commAnders-Or pirates, If that
name be ore AgreeAble-should be instructed to
attend carefully to this basiness in the future Shall
our enemy recruit his shattered legons in all lands
aud in every cline under heaven, aud we have say
ia The mAIters Surely not.
Letter from the Secretary of the Treasury
The following letter from Secretary Trenholm to tns
Governor of South Carolina is the frat public express
sioa We have had Of the views Of tina! important tunc
onarS respecting the financial policy Of the Govern
eIt The public will be pleased with bis assurance that
there is nothing in the present circumstances Of the
Treasury to inspire alarm, but on the contrary, every
motive fos confidence" Bat the pleasure derived from
.his assurance viii be materially depressed when the
reader arrives at the passages in Nc TronhOms letter
in which the opinion is expressed that the action OF
O,peress at IFS last session, establishing the nan a
policy Of the Government unhappy, and must now
be universally admitted TO be erroneous. That legsG-
ton created and constitutes "the present circum.
ssances of the Treasury. II the legislation was "un-
happy aud HsrrOneOus" people will be apt to ask them
selves how eau it be that the condition Of the Treasury
is so satisfactory
The late Secretary disapprOVed the financial
measures OF congress. Il was thought to be an
unhappy circr ms ance that the officer upon whose
action, in enforcing the policy thenssdopted, so ma
teraly d,peoded i.s success should have lacked conf
dence in it. His withdrawal therefore greeted with
general sasfac ion. We fear that the original anxiety
my DO reaWaksned, when It is discovered that Mr.
TEenholm is no more rapport with Congress than
was Mr. Msmmnger 10 regard 30 financial matters. For
our part confess that do perceive that the aO-
ton of Congress either is or mus. be- universally ad.
mtted 20 have been "srfOneors We do not perceive
that the consequence has been precisely" wi a. those
pfedioed" who Ofopnion that the proposed egs-
a.on 'weuld lead to universal distust and til greater
depreciation" Ga the contrary, hold that the dis
trust which prevailed pior to the action of Congress
was much diminished by that action and that the depre
citation which then existed, instead of being "stil
greater" now, is very considerably lesa reference
90 prices prevailing then aud is sufficient to estab-
lsh this assertion The dsust shat sill exists is not
in consequence Of the measures adopted bat in spite of
them.
Bu. We do not propose to financial discussions
and regret to have ielt 10 incumbent On us to cay
tbs much. The tone and general views OF Mr.. Trea-
holm's letter all that can be deered;
TsIAsuRT DEPARTMENT, O. s. Al
RICHMOND, August 5, 1864.
To his ExSeilsRey Governor Bonham
DkAR SIR; Your very kiad and encouraging letter Of
SO.h uls. received yesterday II Is shall prove TO
be my happy fortune, through Divine blessing to con
tribute in any degree TO, the welfare OF my country
shall be more than compensated FOR ell the sbors and
s-Xejes TO which have bs9n appointed. Expressions
Of confidence aud good Hil tue part of my fellow
eitizana sueh ycu have teen good enough to COL
vey 70 ms sre most grateful aud encouraging | re-
gordf ha Traaa NJ ha 2tatr
peculiarly the trearury Of the people, and there is moth
ing in the power OF thas would co soon restore
70 condition Of case aud prosperity the universal
aud generous supper; OF QUE people There is nothng
ia is pseseut circumstances 10 inspire alarm but on
the contrary, every motive for confidence. An ali
psrVstag OF embarrsasm mt has been the char
aoer y, cur legislation. However periodically ia
tended, il bs denied that the measures adopted
BY Congress for the reform Of the currency had the un
happy effect OF inspiring he public mind with feelings 81
fear sA istTu3, TO the course that would ultimately
be pursued in relation TO- that part Of the public deb.
that is represented by the Treasury notes. Apprehen-
sOas cf ultimate Reputation crc p like an a-pervadirp
poison IN the minds 8 the people, and gresty circun-
so'ibed aud dminilhei the purchasing power OF tn
notes.
Taere Wers many distinguished and plriotc men in
Consrs o lesty be lived that tbs great if not
she sale, evil OF the euTrinoy TO be found in It's
rsdundancV al1ne A1d reasoning rom this Ireniss
they inferred that ctr.esp5ading reduction Of this
immediate r,duciO lon in the price OF all salsa6e com
mGdiLieS Othtr1 entertained diff rant opinion, aud
believing tia sue Purchasing power ald value Of til zee
notes had Cro4l aud sensitive dependence upon the
denee and good will Of those who we're called upon
20 exchange th subslance for them insisted that
reduction Of the lsy, by any measure that disturbed
he confidence OF the people in the good faith of the
Goyrfmen would lead to universal dslrust aud still
greater depr cRticu.
The rsjori;y was unhspply found to be of the ir:t
opinion; and il must now be universally admitted |
think tina. the policy that prevailed was erroneous,
AMI tie consequence precisely such as had been pre-
dc ed by thoss who opposed l.. The immense reduc-
ton Effected By the tax Of SS per cent levied upon
TIE currency and by tho process Of compulsory fund
lag product va title eec, upon the prices of com.
modiiis1 Everybody regaIdd with disnust q new
issus Of OF the sams cha aoter the last and
resting for their support circulating medium upon
the ssme Pledges ahiSh bad ended in disappointment
before.
That this is the difficulty We have to encounter
think every candid person must allow, and car
not refrain firm INDUCING the hope that new end
sOu0der pol ey viii gOvsra future LEGISLATION TIE
patriotism OF Congress s 10 be called 10 QUESTION
nor at liberty TO doubt their Wir gaess 10 re-
nourcs any policy that may be proven by experience
20 be erroneous and mischievous Our people az the
same ime should DO SILENT and In this respect tie
patriotic citizens Of the great and suffering Common
y, lth Of Virginia hsVsset noble example.
o. my arrival In Richmond round that thl con-
mssioners of Erces hgd RXsi tho tcheduls rates for
wheat aud cora $50 IN s24 per bushe speclively.
for tho months o. August and Sol 70 nber Toe feeling
Of disappointment alarm with which Was inspired
By this circumstances you easily imagine. Tois pain
tel feeling hOEsVer soon changed fer of renewed
confidence and bopa by the tarntri OF YrGnia. Pub
Q meetings held il tbe sgricalt / eouOes, and
solutions a sed, Idly EVowiOg the iupossibiy OF
maintaining the Pablo iaith II the Cover iment we've