Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-01-16

DEAR SIa:-I select you the medium of subm ting
same random suggestions upon the currency, because
of your former connection with the financial manage
ment Of the old government and with the hope of
arousirg the latent energies Of mind, upon which
high esIma,e has hereto ore, been placed, by your
eountrtmen and which, csndor compels me to cay, can
not longer remain inactive, without rpsning the i'm
pressOns already prevalent into fixed belief that you
are either iGd erent to the crisis trough which your
ccunty il passing, that you are not equal TO the oc
casion We will not willingly accept either of these
propositions. You had the reputation in Washington
of beiBg good fnaucer, and t is to be hoped you did
not exhaust the OF your mind upon chat
eiete government Surely you will not hesitate to
else its remaining energies IN behalf OF an Opposed,
bu thank God, unsubOued mother, who has done
much TO enroll The name OF her favorite son upon
the scr. OF hsto y. Frankly you have either to
your dormant fac alties subside into the ms gLif
Cance aud oIpoe which invariably follow the occupancy
of an easy chair take pea'ure in disturbing its
quiet or Withdrawing you from its security but our
rulers sesm so well poised in their selfeuciercy and
SO confident of their ability, unaided and alone to con
duct this struggle to successful conclusion that the
authority Of name" would appear requisite 10 dig
pel the usiOn that all the brains Of III. Southern Con-
federacy have collected and concentrated in one
individual head.
This delus on has been the cause of many disasters
which it were now useless to dWellupon. But we shall
never recover from the fatal mistake (of which
You wsr5 an advOcate) Of combining ourselves
b defensive war (n the face Of al! experience aad
In oblivion Of the great advantages reAped iIcm an
opposite course by the great Frederick under the false
impression that the seizure Of Washington and the
cupancy of the enemys country would exasperate the
North" We will pas tie false honor which de-
prved US of our Just proportion of the vessels of Che
United States, and the bad management which has
sicce failed to repair the error Nle We uScrupOSly
seized on forts and arsenas aud keep Of view the
prevalent opinion that fl have been promo ed from
no higher motive than private friendship, while others
have been deprived Of commands rom the equally un-
worthy sentiment of person pque; and, finally that
the Cabinet has been selected, apparently more with
refer, nee to the pabty OF its members the wishes
of their chief than their ability to hold and affirm opn
ions of their own. We will let the dead past bury its
dead and address ourselves to the absorbing subject
of the currency which is second in Importance to
nothing.
In the public debt Of Eng!and that nation has wisely
held TO the ineonrovertbe maxim in politics. Chat those
whose private Interests united with the interest Of
their country viii heartily wish thai country thrive"
The Federal Government has UrOfted by it, example,
and besides its own issues OF green backs" TO
known amount based upon the Success of crushing
out has created individual credits to nearly four hun
died millions of dollars The Confederate Government
on the contrary, has relied solely upon the patriotic
shirt which il known to pervade its people, aud in It's
financial operations has repudisted everything like an
apoes to the interests Of It's subjects cusGiy bad
no resting place among them; indeed il has acted inde
pendently of the people, and done much to estrange
them from an enthusiastic support of the Government.
MANY facts could be aiduced which would 90 prove
this assertion In support of il speak from per-
sona knowledge, that more than gentleman, either
in person by letter, proersd to Mr. Memminger, in
the early part Of this contest their plie OF every de-
scription 20 be converted into coin and II the propo
son had been graciou,y recsived the example would,
doubtless have been universally followed, and before
thiShave formed the foundation for currency based
on spsce. 1t is not too late to appeal to tue patriotism
of toe people, aud yet 20 reduce 20 coin all the gold
and silvtrwsre Watches jeTelry &c, in ths Southern
Confederacy The dihicuses uodsr which We are now
laborng for the want of circulating me -ium, based
uoon SONG stable fou datiOn, will call for desperate
remeGics bu. we may not yet have TO resort 10 this
exped emit True the disease is deep seated but f0ru-
nstely not incurabe
As matter OF course, properly adiuse tax bill must
form the ba is Of all remsdial measures bit others
should be adopt as auxiliary In the first place.
would classify all property holders and say that those
who own property held before the wa, should pay
comparatively moderate tax upon lis then assessed Udl
n would increase the the present vdiUs of all
which has sir changed hands, for purposes than
inyesment For all property purchased for speculation
or saCs Investment :" would propose tax fully doc
bl, that amount. Lay specific tax on every man
who has bought sold any species OF property for
profit down to Old clothes and also tax all be
made Tax all gold and silver coin, 10 kind and re
ouire tax in coin or kind to be paid upon gold ard
sly reduce such things to the possession of the Gov
erament aud soon create tho necessity FOR mint Rs
oure every one who has absolutely refused to receive
Confederate money, to pay his taxes in such currency
as he has manifested Willingness to accept.
As auxiliary to such bill, which should be esti
mated to absorb the present circulation in five years.
the amount IF individual indeb edness ought to be as
certained and the government should at require
the holders OF such bonds evidences of
debt, to be exchanged fol Confederate bonds pay.
able in specie at the end of the war, and tie inter
est also paid annually in specie. Dsbtors .could thu
nav their individual bonds in Confederate notes. which
would make them really circulating medium aud 10 q
short time nearly If quite equal to gold and slver
To insure t6eir par value reduce the standard of Il
coin now circulation at least twenty per cent and at
once establish mint Of our own.
The constitutional objection to making these rotes
legal tender Is obviated by this PLAN and truly pa.r
otto man win doubt its feasibility or object to its en-
forcemen You conscript my and impress the pro-