The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1864-11-23

possible 10 restore and maintain the value
of the treasury notes as currency. The
Accomplishment Of this end is ot such vast
importance that it is. Of all others, that to
which the resources of the country should
be devoted and applied. We're il possible
to anticipate the productions Of future
years oi peace, and convert them into mo.
ney for immediate use, the expediency ot
resorting to such = measure could not be
doubted. May not a near approach 10 II
be made by deyoting a portion of those To.
ture productions to the purpose OF impart-
| ing to the Treasury notes high aud stable
values | submit that this may be done,
and spectfully proPose plan for its ac-
cemplishnent.
Il is an nc, pledglng the faith Of the 60.
vernment against the issue oi Treasury
notes beyond the amount authorized by the
Tact Of 18th February. 1864; exemptins the
notes IRON taxation; providing tor the ap.
plcation Of twenty per cent Ut the taxes
annually 10 the reduction Of that amount
until peace be declared. or the outstand-
ing sum be reduced TO si5O. 600 600; con-
,inuing the iax in kind alter the war,
and appropriating an ascertained propor-
tion thereof annually to the redemption or
payment ui the circulation, until the whole
shalt be retired.
[ propose that the redemption shall be
: made from the tithes Of cOttun, ~hest and
corn, at prices 6xed By the act, namely
,, cotton at fifty cents per pound. wheat al
lsur dollars per bushel. aud Germ a. two
dollars per bushel; that the notes be re-
ceiyed after the war, frsm all persons lin.
bIe 10 The ,as, in kind, in eommutstion ol
their tithes; and that the Secretary oi tli'
" Treasury be authorized TO issue certificate,
: in exchange for Tressury notes. bearing
+ six psr cent. interest. secured aud redeem
:, : able in the same mannrr and on the sam.
terms as the nstes themselves. Tree frou
taxation. and receivable after the war !,
: paymsut of the tax 10 kind, and that al
: notes, receivaed into the Treasury 10
" these certificates. he cancelled.
: The effect Of This measure would be ths
- a present prices. the entire popalatia
would be interested ia exchanging the'
= pr.duetios. for treasury notes. The
" would Constitute not only safe currenc..
:, bat : profitable Investment, Tor 10 the "a
" tio OF ten dollars Cor one, as compared wit
specis, the produce obtained 10 payment
- the clos. Of the war, would cost the follor
= :. ing prices, viz; cattss. 1--we cents pc
- pounJ, wheat forty ceuts per bushel, an
=, corn twenty cents. These nom'nally 10
:" prices would not operate 10 the prejudIc
- ef The agricuiturist. for his tax. being
- :. lklnd. would neither be Increased nor d
- minishpd by the price. II Is irue
= ~ would have a collateral interest ia commt
~ with tax psyers generally Qar ol course .
~ interests will be taxed 10 the redemptit
=. of the notes al moderate rate. In III
:. respect, his interest would be protected
'v the prices stipulated by the act, which d
=, ~ not Too Inv fer a time Of peace. But
- they were. q full compensation would
- = erue TO the tax payer in the immediate G
=. hancemest Of the notes aud consequent (
2? ducton Of expenses. And the Produc
=" -. would find a complete indemnity N I
W sale of a burhei OF corn now at iour d.
:, lars. and the appl,catlcw OF the motley
III the payment VI a tax hereafter ol q
bushels,
inp ln suggesting the three afuciss OF G.
,ns ton, wheat aud cprn, - specihs Piled
.nt for the redemption Of the currency, no !
! ul muuity from their full proportions oil ia'
in. iiou is intended 10 be implied, IN resp'
Of other objects cf the tar 10 kind, Or .
led subjects of taxation whatsoever. The
war are only assigned 10 this particular eff
mn or function because Of their peculiar adj
= orI tatisn thereto.
: i The following 10 an estimate Of the
-, sources to be thus applied. viz: whe
.sr twenty-five million bushels. Indian co
,snt two hundred millios bushels, and cote
n,a. two milIisn bales. A tai OF ten per ce
ain would yield as follows.
10 wheat. Two million Eve hundred .hou.