Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1864-06-17
S9llli-9perkIu 9tan6arA
Substance Of the Remarks Of Mr.. Giimer,

SUBSTANCE 81 the Vi 81.
OF NORTH CAROLINA. go. ~.
On the Bill ReLtting to the issue Of Certificates q
indebtedness by tsc GOesrnnss = Of the C'HJt@:
erpts States. i, ='ss Ga. s.
Mr.. Gilmer, Of N c., in substance. said. that he
concriyed7 that the Chairman of the Committee oi
WAYS and Means was inerror in suppOsing that the
amendment offered by the gentleman from Alabama,
or the other amendments offered to this bill, II
adopted, will either njure it Ur destroy the useful
ness of it.
Thc.smendmeut offered by the gentleman from
Alabama in substance proposes to let the holders
of these certificates, them in purchasing SIX per
cent Government bonds. This, or something oil
the Kind will add strength to the measure IN Oon-
pres and usefulness to the country that there was
much in the views of the gentleman oil Alabama,
(Mr Pugh) so eloquently and forci6ly presented 10y
him last evening; that this AMENDING mt is move IN
the right direction that the policy heretofore
favored by Congress has placed the financial con.
dition of tie country in confused, ra:nlhed ana
complexcd situation. We have loans oil several
kinds-S per cent, z per cent, per cent, per
cent. bonds some coupon, some registered, some
with interest and some without call certificates and
evidence of debt various and diversified that the
people cannot understand the condition OF the
financial matters of the country.
Mr.. thinner went on to argue that 1t was mat,
of great national concern TO get all the evidences OF
the nations Indebtedness in simpfted condition:
In this as in all others, simplicity adds force, ana
secures confidence and satisfaction. That II Con,
gress, as in reasonable period, can be done, Will
so arrange as to place all, or most OF ALL her IN:
debtedness in the shape Of Government bonds, and
reasonable proper amount Of Treasury notes, the
money affairs Of the Government will be greatly
improved, lie conceived it highly desirable to get
all the Indebtedness of the Government into the
shape of bonds, using from time to time, only
reasonable and limited amount of Treasury notes.
no ha,., 10 10 will
the Treasury taxes sufficient 10 pay the annual IN
terest on the debt He argued that, when this
SIMPLICITY shall be secured aud'the Treasury sup
piled from taxes with money enough 10 ray the an.
nual interest on our bonds, the Government VIII
have no difficulty in getting all the money she
wants for her uses. When the people in the shape
Of ttieS, shall annually have supplied the Govern
ment with one hundred and fifty or two hundred
millions in value they cannot Afford to pay, ;hey
cannot, without great oppression, pay into the
Treasury annually, whilst the war and its many
etlef calls upon us, mere than the interest on
The national debt If the army is led and clothed
kind by the people, and the interest on the debt
is annually and promptly paid plenty of money
can be had upon Government bonds, Qhe clrcula
ton Of the eountry) and prices of all commodities
reduced to wholesome and desirable state, and the
necessity of creating enlaTging tie national debt
greatly diminished. Things will begin to assume
healthful, natural State
promptly and stesdiiy pays the interest on its debt
its bonds sought after as investments. Reduce
all things to their natural standard, and this coun
try can and will raise money enough to pay an
nually the interest all the debt necessary to be
made in the securing Of our liberties and indepen-
dence. This accomplished and the country reliev
ed Of the ti:hes, the interest can be paid yearly,
and as the country grows and increases in power
and wealth. the principal can annually be decreased
aid diminished until eXtiuguished
Mr.. Gilmer argued that the county and its real
interest and credit had been greatly injured by the
late Reputation policy. That thereby vital stab
had been given to the faith and credit of the Gov
erhment. That they had suffered much and seri-
ously by this policy. That it would take the coun
try Icing time to bear this down. That It would
have been far better to have called in and diminish
the treasury notes to the extent, even
greater, by qlraL0rern tax upon the money ITSELF
and every other species of wealth. He insisted
that we should profit by the errors of the past
Get into the right way, and all would be well, and
further lights for independence and peace would
soon break and thicken upon US. =