Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1864-11-17
$4,000 900
100000
45,oc0 coo
AGO nAn nnn
$le2 900 600

The cert aes of n1ebtedness provided by the act OF
mnt nicpated and the of tn Sc secnri-
tles taken In payment by public dt3rs ls Cco
per- ABOUT 81 OO0 COO only From the sale of bonds
loans hypothecaton Of bonds about SIS 600 OCO
raised and from The new issue of treasury $685.
The large and rand ssucof treasury notes the to
be regret ed from The -iure sures relied upon
to their valne ard reduce expenditures The new
NOES are received by The public at value scarcely any
h e than ne DID, and as consequence, the expenses
The currency demands the immediate and graves con
slderatl # Congress Unless uniform and stable value
eau be given TO TIE treasury the effort to carry on
through their instf entay must be neces;a j..
y abandoned Acquiesenee in eplorabl prsc alton
to ut the rain to which it leads One hundred AID
Thirty Te oars il currency, the prce obtained for ore
hundred doa in six cent bonds equal to Fix dl-
lars only ia specie and to sell the bonds rats 10
real " 10 dispose Of III nine per cent dIscou
Or IN o. words TO give bond for hu ldred dollars
In ccnsderation OF the loan OF six dollars.
There il not man If property The cou7try who would
not prefer aay fair measure OF taxation rather pro
cure temporary and Teacherous prosperity by the sale
mortgages on his estate at This rate.
The depreciation OF the currency, proceeding from re-
dundaScy aud the want Of confidence in its ultima
dempton, can Only be corrected by that shall
both dmiosh its sni ain The public confidence
he measures adopted ny Congress to reduce tbs
rency did not combine theae elements OF
ho:e Eh0 had taken tie old notes relying the good
tai N OF the Government en- finding them suddenly priv
ed OF oGe-thrd OF their nominal value, alarmed
and received The De notes under strong apprehension of
repei ion II the measure 1T the tne, too that the
currency act provided for calculation exceeding four hun
ded million o: dollars, crcumscribed reduced
demand Tor the note by making the four per cent bonds
rec2Va e IN the payment of taxes By the ist day of
UOO QUO the already bean
s1ed and eas than $40 600 coo suced for the payment
the collected Depre citation need
at and proceeded rapid a that by the lit
day OF October gold WAS sling at twenty-five dJlars for
The necessity of providing speedy and efficient remedy
for this condition OF things Is obvious the bondH have to
be sold tor this currency; the be collected
it, sud h-nce The OF The Government for the
c.ase o. supplies vii consist OF this medium Admitting
ha the amount which be raised from these is
nomi ally equal to the estimated expenditures there yet
eeCuy against such lur her decline in The value
the notes as Will disaPpont present Ca cnaton and ada
enormously the Emulation of tie pubic debt. TIE
time, heeiore seems 10 have arrived when Congress
sbou he restore ard sustain the currency
provision Tor its hon Tabe redemption, resort
the # specie AID bank notes Ihe adoption tie
IasI alternative feared, would produce great embar.
in the community and the imp disability of OBJ
taHDg adequate ply ofpece and bank notes for the
the GUvernmGn would necessity for
OF universal mpre5smens tJoWcd ~ cacGIable
suteElng and Stress.
to carry tbs all agreed. Our enemy
short OF unconditional surrender OF life,
disposed TO hss ae, which not, but TO
uuue the ,The adopiOa therefore, OF permanent
dege opment aud eia The
specie payments beng for Ihe present imprac
cable the inquiry whether l. Ia possible aud
maintain the value OF tie Treasury CURRENCY
The aCcOmpls OF this end is Of such vast
that II 5 OF all others mat TO winch tue resources OF the
cOuntrg hu be devoted AID applied Were it possible
anticipate he Productions OF future years peace
convert them into on5y TOR Immediate the expend
elCy Of TesOrtipg could be doubted
nay approach to ii be by devotng por
ton OF ihos Iature to the purpose lmpat
lug to the treasury notes high and stable value sub
nit that this may be done, AMI utiy pr pose
plan it's Accomplishment.
II act plCdslng the ah Of the Government against
the Issue OF Treasury notes beyond the amount authorized
by the set OF 18th february 1854; exemptng the
from tsx4tion providing the application OF 20 per
Of The annuity To the ucti0n OF That u1
peace be declared or the outstanding be TO
$4,000 C0o continuing the tex il kind ter the and
appIopriatpg ascertsned proportion thereof
&c The redemption paymen: OF The Circulation, until the
(To BE CONTINUITY