Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1864-08-24
Treasury DEPARTMENT, c. S. ~,
Richmond. AuguSt ). 1851.

1REiSURr DEPARTMENT, y. >. ~,
Richmond, August ., lSGl.
70 HIS ErccUcAcy Cor. Bonham.-DE!R
SIR: Your very kind and encouraging latter
OF :2.lth ulr., was received yesterday. Ii it
shall prove 10 lie my happy lortnne, through
riie Di:iue blessing, 10 Contribute In aay de>
gree 10 the welfare oi' ny ccuutry shall he
urre .Esn compensated for all Tie labcra and
nllxie;irs 10 which have been ippHia;el. lax
pce>soDs q confidence anI e.,od Nil cn the
la-t ot M fellow litizenS. such rs YOU lave
been Sood enough 10 convey 10 me; are most
grateful ans. encournging.si regard the Trcasu
ry oi The Confederate States As most pccu
liarly the treasury Of the people, and tl.e.'e
is nothing in the power ., man that would
so soon restore it to condition OF ease snd
prosperity IS the universal and GENEROUS sup
port of our people. There is netting in its
present circumstances to inspire alarm, but,
on the contrary, every motive for confidence.
An all pcrvadiug cause OF embarrassment
and distress has hcan the character of cur
logis!ation. However periodically intended,
it is not to be- Gcn;ci that The measures adopt
cl Ly Congress Ell tho reform Of the cuercn-
cy had the unhappy effect of Inspiring the
public mind with feelings of fear and distrust
as to tho course that would ultimately be
pursued in relation 10 that part of The Public
debt that is represented by the Treasury
notes ->ppreheusions OF ultimate repuda
Iion crept like an ali.pervading poison into
the minds Of the people, and greatly circum-
scribed and diminished the purchasing power
OF the notes.
There were many distinguished and patri-
ctic men in Congress, wEo earnestly believed
that the great, if not tie sole, evil Of tie
currency, was TO be found in it's redundancy
alone. And reasoning from this premise,
they inferred that corresponding reduction
of this large. volume Of the purchasing ne
dium, would produce an immediate reduction
IN the price Of all saleable commodities.
Others entertained !: different opinion, and
believing that the purchasing power and
value of these notes had critical apd sensi
tive dependence upon the confidence and good
will oe those who were called. upon to'ex-.
change their substance for them, insisted that
a reduction Of the quantity, by any measure
that disturbed the confidence OF the people
in the good faith of the Goverument would
lead to Universal distrust and still greater
depreciation.
The majority was unhappily found to be
of the irst opinion; and it must now be uni
versally admitted, think, that the policy
that prevailed was erroneous, and the conse-
uuaaces precisely such rs had been predicted
by those yho opposed it. Tbe immense re-
Suction cffectej by the tax of 5S333 per cent.
levied upon the cIrrency, and oy the process
Of compulsory funding. pFodpced very little
effect upon the prices Of commodities. Every
Body regarded with dietrust new issue cf
notes of the same chara: ter as the last, and
resting foT their support "a circulating me~
dium upop the same pledges. which lad ended
10 disappointment Iefo:e.
That this is the true difficulty we have to
encounter, think every candid person must
now allow, and cannot refrain from indalg-
lug the hope that new and souRder' policy
@iil govern our future legislation. Tho Pc
triotisl, of Congress is not to be called in
question, nor are ne at liberty to doubt their
willingness to rsnounce any policy that may
he proven, by experience, to be erroneous
and mischievons. Cur people, at the same
time should not be silent, and in thisrespect
the patriotic citizens Of the great and suffer
ing Commonwealth Of Virginia have set
noble example.
On nv Arrival IL Richmond, found that
the commissioners of prices had fixed the
schedule rates for wheatand corn at S30Gnd
S24 per bushel, respectively, .sr the moaths
OF August and September. The feeling of
disappointment and alarm, with which / was
inspired by this circumstance, Sou can easily
imagine. This painful feeling was, however,
soon chauged for one Of renewed confidence
and hore, by the farmers of Virginia. Pub
tic meetings were held in the agricultural
Counties, and resolutions adopted, boldly
avowing the impossibili.y Of maintaining the
public faith, if the Government we're forced
by the people to pa5 such prices for SUPPLIES,
aud patriotically insisting upon redaS2ion
os.the standard rates, and their establishment
upon basis sufficiently low tossnspire CEN
idence in the currency. The result was,
that the commissioners re-astembled and re-
auced the schedule prices to ST. for wheat
for the month OF August, and $5'for Septem.
Der. A wiser and more patriotic course was
never pursued by any people, and I would
respectfully appeal to you, as Chief Maris-
trate Of our gallant and patriotic State, to
suggest and encourage similar meetings and
resolutions, on the park.pf our own people. ]
have an abiding confteIce that aecueral a
and we'll established belief in the intention of
Congress, under no circumstances of tempta-
ton or trial. TO shrink from the observance of
the most rigid good faith in the money deal.
ings oftho Government, will enable US to
overcome all our financial difficulties. That
such is their real intention, cannot doubt
but this determination should be encouraged
and supported by the public declarations Of
our people, expressive of their own resolute
will TO foster thercredt of tho Government
BIZ the establishment Of low prices, and By
the patriotic support of its Treasury. What.
ever differences of opinion may have existed
in the past, or whatever errors may be sup
nosed to have been committed, may now be
buried in common grave. We are making
D new start in ourdnances, andauder cigcum.