Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-12-23

t&1>s<-@s y -, e1191z
asaai sAssfssssss,st h.ss4 EIls q ssslls fsr d
creased % n6fs than enc APpdred minions BY the
cad Of 1883. yssy then msda the piper Issued To-
gal tencer declared refuaal TO receive it, was an
on pgulsl ment Of the debt and the party refusing
il either ior property or gold and silver wsa to be
deemed enemy OF his eou TRY, and bis surplussup
pties taken ct an arbitrary valuation. As nss bills
we're, however, constantly iensd those In circulation
continued TO depfeoiate until in September, 77s the
amt unt out-resched one hundred and sixty alions.
Congress then resolved that Oh account should the
issues eIceed two hundred Millions, aud publIshed
an tdhtss TO their censtituents, sudssyoriug 10
prove the ability ss well as the deposit on to
redeem their bills from the future resources Of the
county In ita Increase Of population, the vast wealth
of It's agricultural products, aud the Ayas Of ils
Western lands. "They Indignantly replied the idea
OF violation OF the pBghied faith OF the nation 10
| the following term.": "fhe pride OF America rtvots
at the idea. Her cit ms know for what purpose
these emissions were made, and have repeatedly
plghied their faith for tho redemption Of them. Tiey
are TO be found Ia every mans possession and every
man Ia interested 10 their beng redeemed. They
must therefore, entertain high opinion Of American
credulty to sup the people capable Of believing,
on (us fseop, that ell America will against the faitb
the honor ani the interest of all America be ever
prt vaed upon to countenaI CO support or permit 30
ruInous, 60 dsgrtcsiuI q measure"
Notwithstanding the resolution Of Gong ress and the
solemn pecge Of lls address, which have just real
Al increased TO more than three tuadred mi-
lion, and the idea Of Iedssmog the bills at their
rominal value was abandoned. i
Ia Mare 1850 the States were required to hrng them
40 for l. 20 be exchanged or Anew issue not eIceet.
ing on,V Menheth part OF thai nominal amount The
new bills were to be redeemed In SIX years, bearing
An interest Of Eve per cent based credit ofthe
Individual States, and Their payment guaranteed BY
the United stsIsa- Jownal Of Congrsss, vol pages
262 and 26e scr 1 -
lib. h,..ur. an proceeds to Say The new system Of
finance was equally Iafaili 6. The old bills were
not brought In, and OF course, lev nex ones ssued
The general tssAsuy was empty tbe army W.T. out pay
or clothing end oitsn without provisions The States
we're called upon for supplies and specific Mislss,
To keep the arm tegeihsr Cooerfss was obliged 70
frse msusy By drawn & bills Ga their mn.s;sra IN No.
rope, Without shy aslps saos Of their payment
TIE ppniinsnhl bills 90 last bseins Of 10 little va-
10 ma. der osasse 10 ehsIate AID In the esulse q
toe ,sis fs0 qasny died In the hands Of their poe
ss,.ors- P,Iisu' o. aud Political K,l@y 1a,ttd
6la.ss vi. ii pages 100 aid 1877
have saic, n !. Chairman, that We shoald p.of
BIZ this anarisl txpeiluIre OF cur forefth.is, 30
propheic oil evil 10 VI under eniilsr cIcumslAnces
We may do so BY RETAINING IOm pleigipg the faith
VI The Government to unnecessary, will not ssy i'm
poss ble oonailoas aid by resortipg In time TO a
system Of r. Gel viz sul Plies and fptc 10 articles,
without the NECESSITY OF suing for Them Paper cur
ret cy that other sise fear Il viii DO Impossible io
up, any more than il We, for them to guard against
edundarcy, and eorst qaenIiy retudi los.
will not b, able, wisht U. uesI ts,ng on tie pa
euce of the House, to discuss fully all tie details OF
the bill before U.S. and those OF the substitute II red
The substitute 10 no. in all rtfpeots what dsare, bat
Aless Oh jec ionabls than the BILL Their olief offer
snce IL IN what have already stated 90 the arst pro-
position Of rle Secretary And IL 10 TO this lha
will call the attention Of the H. use. The ,b c; oi
both is to secure Gu rsney that will NOT be cons ant
4 An III
vide for lie wants with tie least Ioaible GU ley MT
in the manner least the peoples b. this
meaps the putEc credit will be beAt eslsS.ished an.
the Gcvernment entbhl 10 meet IN iull all ils OIL
cations,
The sscrsiSry prtpofes to apprt pirate certificates
OF payment in kni out OF the th,s sotrue to the
Government within tie next 6so years alter the ter
uioa,ion of TIL war; instel Of the i've hundred MIL
lion bsnd, exempt item ttx ,den and with interest,"
stcred by pledge ei eSpor. aud Import duaes to The
tede N ption OF the opistshdh tufrei CT.
The 81 bsti ute tfsHd by myself proposes thai
certificates Of payment In kind shall DO used Ion
the purchase OF afternsster aud eonnissary sup
oil es thus max ng unnec ssaIy any Excessive hsuts
~ the ia ufs, aud that tbs Oastanding currency /
shoud be abb rbed by a4Iiion and tie sale OF To,
Ave oundred million bondf as provided BY the leg
i,liou os lssi Congress-. will sac bm aJ objsc-
tops 10 ~ s cfeiaIys plan, and wherein they do
n I apply to that of red as a substitute. |
The pILc pal provisions OF the Secretsrys bill are
,staned By the y5sttue, the only material d.fsr-
apee between them Is 10 the point have sta'sd.
le Rt a. ol lection 10 the bill ID that Il pledges
svsy a most vaiu ,b.e resource 10 the future for
mast obligation anesdy provided tor in the right to
,uves ia tie Eve tut diCd million bonds OF the Cow
ommsnt, & mpt from taxation, and with intefes,
se ,ured by the ample pledge Of cur export and i'm
M NJ dates Those boz de sufficient 10 amount 10
absorb even with existing tsxation The whole Of the
outstanding currency. Thsy command prem um,
and the 8. cresry has power ct any tine to plso.
them on the ms'fsf'
would be unWjse IN Uons eis 10 sttsnptio
for the alders the outs andila uirsnoy on
iJss Of enfsou as for jis iea or wroog dore
the ders OF 1t BY the taxation last ssssior TIE
lamar soninR would Nqure compensation to those
Who, tsyiog originally the tight to invest in eight p,
cart bonds, were forced 10 invett In those bearing
less rate OF interest.
Rat shou Congress even pass the Of the ,cre-
try. il uoull not accomplish the ebi,o opposed As
ths ps mt holders Of O. nfs ate otes rel not as
Oe, raj thing ID ss thst paid Il tax the currenoI
The Secretary co that the 10 fell oh q upon oh
cl,ase, d an the weaihycapita IL LAYING protected
the mseves by speculative Investments. Tnis has also
ba, asssrtsd by members. fis be 80 and IL is not
necessary for my sTgt m mt 10 ada |. dsry IL 10
Main that tie capitalist and m MED men OF the coun
rt ara not the proper bsnefCisiss OF any compeuss
ting Is0isatior But In whose hands is at this time
The currency OF the cCuctrJ Many OF our soldiers
have not been paid for months aud those that have
tesp at present prices, have found their small plt
tsucs soon disappear. Il Is rot 10 their hands.
The fsrms re- 10 many psrts Of the ccuatrJ have b.
,ystem Of barrier sni sxshange of supplies for arr
o,ss that has made II nnecssssrJ for them 10 have on
tspd as general rule, more Treasury Q, than wa
- on red for taIes A, this time the Gov rlmsnt IT,
ss IL eIchApg Dg for supplies in hss'ss ppi Iot rea
snrv potes, hui srtlcies Of necsssty-yar cot on
cs,ds. "a; aud undersa. that this system has ex
tsusIyely prevailed elsewhere In Its dealings With peo
pie in tho interior.
teut men tell me who have had bette oppor unity
of Judging than myself that your issue has as yet
fop nd its way ony 10 limited extent among the pso-
nle, Of Alsbams. and hissifspp; and have letter
from the Governor of louisiana (GeD. AleD) an er-
tract from which will read, sbo sing that Il has not
pons amor z tho people ofmy State Ewas address,
10 one of cu Senator's ard Is dated Shrevepor', Oco