Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-12-13
REMARKS OF MR PERKINS, OF LOUISIANA


n, the BIZ for The Reduction and REDEMPTION of N.
Currency made III the House Of Representatives, On,
Saturday last.
M PERKINS said that no did not intend 20 debs,a
,he provisions of the bill at this tms but would call
atsntion to one Two features in 1t that he thouob
obIectiouAble. The amendment just adopted Hxsd Ibs
nr.css Of articles TO be paid iR kind after the war Al
Hv, cents per pound for cotton 81 per busbe
for corn and 50 par busbe for wheat As the certjf
TO be issued by the Treasury to be paid four
rntbs In cotton, fournnths in and enc ninth n
wheat the practical ope alton of the bull will be that
any individual paying into The Public Treasury $50 90
of Treasury notes at this time az thew as
so as 10 be worth only 81 to for silver, would Obtain
from the Government certificate Of payment 10 kipo
haaring per cent interest-eXemptsd from taxation
and sscuripg to him, the faith Of the Government
100 pounds Il eottor, 40 pounds in c1rn and bushels
IN wheat delivered 70 him at the end of tue war al
ne NJ the seaports of the ConedsracJ This seemed
70 him TO be paying very highly for the redemption Of
our Confederate notes. "A. genteIa advocating I'll
sasure las ug-d that the State of Virginia might II
II becomes law, take 81 900 900 Of gold now Iype
idle in the banks of this city, purchase with 1t $50.
600 600 of Conf derate uotes convert them into these
Certificates OF payment in kind and sfter the var he
able from the sale of the PRODUCE received from the
G ,Sernment 10 ray back in gold he 81 900 600 bor-
ro1ed of the banks AID make $3.50 900 clear for tina
statel Did is not occur to members that II q State
could do this any bank, or broker, monied ndiyd-
nal could snd would probably do the sAmef Are the
resources of the Coniederacy next sustibe az 10
nj ov of individuals making such profits ont of them
From mistaken policy Of Mr.. hemminger and those
in Congress who supported his vieWs the cotton crop
which could have been had at nominal price at the
beginning of the war, and which would have been a
substantial basisfor public credit sred to pas
into the hands OF specul4orP to be wasled In gins
and outhouses through the country We have now
already taxed heavily the dsrent interests of the
country to pay our army aud keep the looms In CD
ration. Having done THE, ii is now proposed
BY this bill 10 mortgage the future sgric ltural
products in order to redeem the Confederate
notes now In circulation a1d so important is ii
deemed that for every $50 Of these notes, eouiya.
lent In silverto So 1t Is proposed to gave 100 lbs in
cotton 40 bushes in corn, 10 bushels in wheat worth
no der any crcnmsal css In the ras lsas. City dol
lars In gold but which, after the var la tho great
dsarth Of cotton, will yi' at least 800 In gold Our
sxlrsmites must indeed be very greet which iusilT
us In such financial operation. Bu Mr.. Chairman,
this Ia not the worst Of it, the advantage of the spp g.
ola ion ia the notes In circulation is to enure on
indir y TO the Government and directly to the hold
era of them In the Tran. Mississippi there IA scarcay
any of thsfe notss in circulation. 1t is the Bame am
til, 10 Mississippi The Indebtedness Of the Cover.
snt to the citizens Of that region for supplies has NOT
been paid. They therefore are without the means OF
nvestir in these certificates.
Nov, Sir instead of plsdgirg away these tithes In
the iutare would them pay off Ihs Government
purchase OF all quarter Wster and commRsary SUI pies
that may be required in the future The farmer would
gladly give his surplus above liz present thes for these
certificates of payment In kind. Do this and You viii
hear no more complaints Of impressmenL Instead Of
having to sack supplies for which the farmer was un-
wiling 10 take Confederate notes that Wrs daily de-
prso atIng supplies will seek you to be exchange for
these certificates.
Let your hsus of Treasury notes in tie future bs
confined to The payment Ct your troops ard retired
ofesrP and the u1t in oireustiop II Jou restricl
te. issue to such pas mens will be sbsorbsd by taxa
ton to "a small an amount as may be deemed wise.
II this casing to issue Confederate notes for supplies
and the payment of tsIss does not reduc, with suf
6cent rapidly the present circulation you have only
sell sufficient Of the HEs hundred illioD which now
command IS per cent. premium to bring them down as
low a. you deti o.
NJ. 0hslrmsu-I merely throw out these Views that
the attention of members may bs called to the mpor
lance Of tho amendment dst acted on and shs seek
another opportunity Of scu4sing az large the prn-
ples OF the BILL regret, sincerely, cannot give to
II my support entertain great Teepsct for Mr. TrsD-
HOLM and would give great consideration to anything
that he might recon- mend But fear, by the sdop--
ton Of this bill, We would sacrifice great future re-
sources, sill OF which will be required bsfors this war
Ia over, for temporary advantage from which others
beside the Governments would be most benefited