Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-04-16
From the Mobile Register.] =
THE NEW CURRENOY-PRICES.

Inc nrst OF April has come AID gone, and the Con.
federacy enters upon field OF currency expert
ment. The wses; 6nsnei i heads would make but In.
different guesses the effect Of the lite radical egs.
lation on the impor ant subject OF prices What tEty
viii be on the credit Of the Government is more clear
and certain. Some have maintained that the Govern
ment has affixed to It's credit the stain of reputation
OF part OF its debt and that permani nty
shaken in it's good faith for the future. 1t is least
debatabe whether the legislation against 500
notes and the enforced dicount of one-thrd upon all
treasury notes Of the denomination of fve dollars and
upwards to be clasfed under he head of taxation or
reputation. If paper 'ney is subject Of iaxstou
as well as other species Of property, there would feem
70 De no good reason for giving that tax the ugly
of reputation.
But what is certain u.s. that the acls of Congress re-
ferred to, were 70 none 30 Necessary and will to none
prove 30 beneficial the holders OF treasury notes.
These acts essential arrest that downward ard
RAPID career to worthessness which would have surely
resulted in wholesale reputation. The end could not
have been distant, vhen, in chmond a busbel of
| meal commanded $50, and roast of beef SIS
ereak down was near. and Congtess has me The only
thing that could 30 done to prevent IT, Wa think that
the holders OF treasury notes the last that ought to
compiin Of the They have been their salvation
aud they have made lucky esolp. from comrlete
blow up of the paper bubble, 'leavng not wreck be.
| hind, aud wholesale and hopeless reputation.
As is, what the; get is worth more than what they
had with the cost paid for IL euperadkd, and thty
havo the additional security that Me- MemmiDgsrs pow.
er to rua bis printing press is taken away the Govern
ment Is no longer TO be supported upon its own paper
issues, but by borrowing on specie coupon bonds and
by ample taxation.
Al to the effect prices il has been remarked that
10 far easier to put up prices than pull them down
But SO Urge reduction Of the circulating medium must
necessarily affect prces. These have been stimuli ted
the two facts OF redundant currency aud scarcity of
saeable commodities The latter scarcity in the mar.
kents has We have always believed been as much due
70 the deprecated currency as to reality. The certain
tendency OF cheap aud constantly cheapening cur
rency is to cause to hold TO any property they
possss aod 10 invest their currency almost anything
as better and safer than the money.
A farmer la, a hundred thousand bushels Of
wheat He keeps IL ou OF the marke. as his best iu.
vestment greatly preierrng IL to the only money he
can get tor it, even at hgh prices The couse.
quence bread is and enormously dear in the
Market while the barns of the country may be full OF
t This view is owed by the fact tina, it not only
articles oil food that are really fciroe-such, for in
staDc as those that shut out By the blockade Ike
COTE and tea and those that oaly raised within tho
| enemys lines, as sugar and the hke-hat command
these enormous prices but other articles of home pro-
ducton, and which are plentiful they ever we're,
bear the same high figures.
Taere ia abundance of corn in Mi,si,sippi and Ala
bans, and we have to gse $40 bush 81 Tor meal Il
may be sad tina. dtf,ent traasportano and the nju-
dcous aimaistra.ion OF the army commis sariat ac-
counts Tor this. Bat how will YOU accoun for Il that
mead OF caooaSe that u.ed 10 br ng hty cents now
sells FIVE dolrs head of e;tuc, mas gone up from
Ave cents to doIr aad fab which h,vs not been for.
hidden to increase TO ssim by any proclamation Of
Lincoln, bear the highest prices of all. These things
all grow at our doors JUST abundan ly as thy did
betJre the war; and is only costly to raise and
70 catch them the deprecated currency has
raised the apparent value Of every hing else.
Restore confidence 10 the currency and those articles
that have been boarded nvss.me will emerge
from their hiding PAGES and be thrown upon the mar.
kes. Toe increased supply aiding the improvement in
the character aud the reduction Of the volume of the
purchasing medium, wilt act together to lover prices
That such VIII be The resll, there IL little doubt.
But those who expect 10 see 8, grea charge miracu
lousy wrought in moment, VIII be disappointed. IL
must be gradu rsf5sm fos it will require time for
old habits and ideas to be broken up and the new re-
htion OF money I'D commodte, 10 adjust themselves.
Meanwhile t is tho interest of ALL buyers and Sellers
to put end to the OF i1sion as soon as DO L.
50 let il be the study OF all bring about the revolu
ito, as speedily as possible.