Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1864-01-08
enactment of such laws by the State aud
! Confederate Governments as might be ns


euactmeEt of such laws by the State aud
Confederate Governments as might be ns
eessary 10 correct it.
/ csaaoss too earnestly press upon the qabe
tio consideration the great importance Of
c1aauizing the.feserVed force Of the State
Every element of strength, whether Of
| nies rs or men, which is now LEFT to US, must
Sc epa5tined as al auxiliary to the armies
| in the ecld. :. The Confederate 6 Government
has our essiFe: sbaa5 of militia under its
command. consisting Of the able bodied men
of the State, aud now proposes "a Organize
our reserved force do not inteal, ces-
tairIy at present, TO raise any question
about the right to do 50, but | confess
should be much ceaeerood 20 see it exercls-
led A sovereign State without soldier
and without the dignity Of strength strip
ped of all her men, and without only the
form of pageantry Of would, IN
deed be nothing more than wretched de-
tendency, to which should grieve to see
our proud old Common wealth reduced =
| Recent eyonts painfully adnonish US, also,
of the necessity Of thorough and complete
Organization, and, doubt not. the General
Assembly will. on reassembling. on the 9th
instant. promptly relieve US of all uneasi.
ness about the legislation of Congress by
the passage Of a-short, yet comprehensive
I act. clothing the Governor with full power
TO organize the reserved force of the State
n such manner as may best promote the
public interests. having due regard, Of
course, to the character and to the limited
objects to which it's to be applied A gen
erous, confidence on tie part Of the General
Assembly in the Governor. to whom the
executive power Of the State has been en-
trusted by the ConstitutSon and the people,
/ is. it seems to me, a constitutional duty -
But, apart from that view of the subject,
respectfully ask it, because it is impossible
for any human forethought to provide. by
| Legislation, for the varying circumstances
which may occur during the gigantic war
III which We are engaged aud because |
cannot believe that can abuse any trust
confded to me, Or fail tenderly to consider
the feelings and interest of ny fellow -citi
zeus IN regard to the military duties which
they may be called to perform.
The currency Of the country. consisting,
as it does, almost exclusively Of Confederate
notes, with which tie States and all the
people thereof are identified, calls for the
most careful consideration. It must be
thoroughly reformed. The facility with
which it is created, and the enormous a.
mounts which are daily issued, naturally
lead to waste aud extravaganza, and inevi-
tably to vice and deprayity. Far better
would 1t have been had we adopted. at the
beginning Of this war, hard money curren
cy. A judlcious system of loans and of
taxation, combined with our great staples
of cotton, TOBACCO and naval stores. of which
the Government should have possessed it
self, would have furnished Us such resources
as ,solle have literally supplied our waats
and planted our public credit upon basis
which would have given us the confidence
of the world It is useless. however, to
speculate as to the past. The practical
duestlon is what is best now to be done
Virginia IS deeply interested in this cues
tion, and. as her Governor, feel it to be
my dusy. although with hesitation and diff
deaee. 10 express my views apon his inter
! estlog and Important question.
/ FIRST. Provide by law for the issue of
one thousand millions of dollars. at i per
centum per annum on that part which takes
i ftp the currency and s per centum on the
residue, coupons attached; interest payable
in specie or bank currency
Second Declare that the Confederate
note currency shall cease to circulate as
such, and shall be funded ia tie bonds au-
thorized to be issued
Third. Make the banks Of established
credit the 6sca! agents Of the governments.
TO sell at not less than par, all bonds which
may be in excess Of the currency to be fun
ded; to issue their own notes as a ourren-
cy. and to transfer. ~sohsn ard wksrs ueeded,
the funds Of the Government.
Fourth. To tax freely--taxes payable in
-necie, or il the notes Of banks acting as
Government agents, or coupons Of public
debt. ~ -
Fifth Let the government new take into
its possession the cotton. tobacco and naval
seefes Vt the couatry as auxiliary to loans
and ,Axes
There Can be but little objection 70 this
Il is well knowu that q large puetjon u
these articles is in the bands Of speculatoos,
who have grown rich 10 the midst OF gener
al SufaEiilg and distress
This scheme would, am, persuaded, act
like charm IN the immediate reuosattcn
I of the public credit. Ii the reduction of
the ntorest The public Will End satisfaction
as an evidence Of regard to the resources
OF tie country. Besides those who will
own it, will have acqoi cd the ability to dc
SO by enormous profits; aud, At aloss. ii can
only DC regarded as a special tax upon the
rich. which has numerous precedents, and
which they can well afford to pay.
In the selection of banks we should have
agents Of tried and approved integrity tho
roughly informed as to the most judicious
system ofcreaits, and with the restoration
of currency new at heavy premium, snd
withpwhich the people have long been fasnil
lar, we should at eace see revival Of con
idence that would gladden. the heart Of ss
cry patriot in the land 1t does seem to
M, that this scheme wonld open most au
sp,ciousiy and if sustained by liberal tax
alton and a judicious sale of our great sta
pie, it would dlspel the clouds which hang
over aud obscure our financial system, and
let in a bright and hopeful future.
In aid Of any scheme Of finance, however.
J | regard it as of the first CONSEQUENCE that