Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-03-20

Delivered at LaGrasgs, Gsargia, on "a, 1St da.
Of EsFsk, Is64.--s

Delivered at LGGrGsgs, Gsargia, on ~ lst day |
Cf 2sTsks Is64---S
Ladies and FeuoT-Cisizsns
1t syourTight "a constituents to have sxPlsn2-
ton Of the recent legislation Of your Congress- Il Is
my duty Of she Legislators, to furnish YOU as
far as u " be able vita that explanation, Il IS my
pleasure also this oecssiOn because sidrsss nos
cniy constituents but those Wko from my youth, nave
been my nsighbors. and through all yicissiHdes have
i yI mot pretend tia. tha Ie Eslstion is in all
spec.s such 1 preferred In tRs details presume
every member Of the Congress could point OUT some.
thing which he desired 70 change or ecoia snzsess
somethlng which he desired add Iaaeed this legs
lsti8n, Ike all Of its kind, in Government where cen
sent and power makes law, Is compromise les
man who will not be content unless he csn get Whst N
all respects be dssiGes, VIII not make wise
or q GOOD citizen for popular a0vernment suen an
one Is only ht to govern or Be goTeraed by poTeE
As whole the egi ilaiOn IS Wtse, appropriate sna
bs3sfei, n rsGuissd rDusIsI nsrvs to adopt Il;
Be Justified only by unusual crisis and " " dsEaHna
uuTsuzl patriotism for ehss-fal oaedienes Ths eri-
SIS Va al zee. Tbs the Congress las exnoited
believe the people viii manifest the patriotism.
On the subject OF the currency two evils we're a1hlcs
nE tbs country First ihs circulation was too grsat-
it was enormous. Itwas daily. urly Increasing 5n-
emss without, and fsons vi hin had also sueceedsd IN
getting a large amount Of counterfeit ties shost
Prices were inflated in proportion and unless arrested
bankruptcy rspudistiOn ard failure were inevitsble
The great object wss get rid Of this eirculsiias-
retire the circulation This must be oGne without psr
slysis to the Goverzusut AM without collapse ia com
mereisl An 4 social circles.
There were hut two legitimate methods Of getting rid
Of the currency: By funding and y taxation. The
first method must be compulsory because voluntary
funding the Congress had tried for more thsa two yesFs
with every form Of simulsRt and persuasion, aRd It had
failed. The second method must be heavy, because
WITH heavy increasing debt and inflated and iDhsti1g
currency, light tsxst0n woald be not only inehse12L
hu rihuE The two methods g tossthef, assisting
each other We compel luIdlng By taxing the circus-
ton not funded. We lesson present taxation BY fund
us the circulation sHd thsrBby Poitponiag ne Gay OF
psvrospt Having thus stated the mischief to be
died and the theory adopted Tor the remedy let as now
examine Ia popular language and syle ths practical
] - 4huAra av71af1-T
In payment Of yoar taxes for 1863 and 1854 sni in
payment q any debt you may owe tie GeTernmsnt
psvabs during the year 1854 sxespt duties On exports
sad iuDers you can use any genuine treasury noie OF
suy denomination on condition that you will maks s1eh
payment by the FIRST day Of April 1864 or II by that
daV you will change your treasury notes ino bonds or
esrtifcates. Now then # you do not know exactly
how much you viii for taxes or 6toerWise, or for
.r reason IL is not convenient to make pa gusnt imme
dis civ calculate nssFy az you can how much you
will owe 60 to the nearest funding sssnt Of the Gov
eruent aud leave your money tire asury Hotes of any
sza0 vfth him and take from him bond certificate
Of The fet aud this bend certificate tie Government
wifi receive at par sny tine for any such debS
o If Won have more N m7ney thsH you viii teus
the government you hand it all TO this fund
ing agent by the FIRST Of April snd he viii hand bond
for ths fuu amount Of every dollar, which bond Will
bear interest ct four per cent per payable in
twenty years. and the interest payable every SIX months
/ Thus y5u can find investment for your money at
par without paying i've prices for property. On this
/ bond y0u will pay 10 tax II loo4
q II vou do not thus use fund your treasury notes
Z
shove the denomination Of five dollars, which you hold
on or after thst day you must pay TAX Of thirty three
and one third per cent or one tnlTa OF me amount
You can SIN after that date, use these notes except
those Of the denomination OF one hundred dOIaFs IN
paying your taxes and such other dues to the Govern
meut, and you can still fund them IN four psr cent.
bonds bus YOU can only them at sixty six and two
thirds cents in the dollar Y0u i've dollar notes
a. par until tbs first dsy Of July nszt, but and
Ser tbs date thee also sre taxed ons.thIrd Notes
below i've dolsrs not taxed at s and are not requir-
I cd 10 be funded
naion Of one hundred dol as dealt with still
severely Jniil the hEs day OF pri you these
notes a. Psr in paying yo1r taxes and IN faadag Du.
/ ring the month Of April you can only fand them st
cuethird Of After the first of april they taxed
additionally ten per ssnt per month until ia dx snd
twO-thlrd mcnths by the hrst OF November they sx-
! mir. They labor under stu another disadvantage
After the first day Of April treasury nots viii be
issued II Is Intended 10 mt this sssus and thus make
II always good Nov you hsvs treasury notes under
o-e hundred dollars do no. need them pay tax
ca and 10 not wish TO fund them In bonds tue Goys-n
rspt will take them up with the sax Of onetbrd de-
dusted that is will give yoH two dollars Of the new
notes for three dollars Of the cid notes But the hun
| dreJ dollars csnnot be ezchs sRsed in this way.
So you will perceive yOB eaR use the hundred dollar
| notes IN but TWO Ways; l. In paying your taxes o.
| o-hsr I1es 20 the Govsrone1t as mentioned 2 n
IN m H. eItbsr way before the rHt day of April sext
mar You can use them only for funding during he
month Of April-snd then 81 siEtysix and tTyO thd
cent? on the dollar and for every month afsrwsrd:
you lose ten per cent additional from the taee OF the
note until All taxed swsF. So by 81 means tund A
ghass remarks do not apply to the interest earring
| treasury notes These now bends and only taxed
like other property-fve per cent
Well Sgu Will say one bird of the note fs heavy
t,r spd tan Dsr cent usr month additional the hun
dred dollar notes is still hesvier And the beaviest tai
Is sin 10 be mentioned IL Is tLs On Al Nea nete
above the denomination Of ve dollars not used Ia pay
nsut Of taxes exchanged notes. or luudsd bl
the first day Of JRnusry 1850, tax of one hundred Pc
.en+ Is levied But II yea pas either Of these taxes
vour own fault sni thg fault Of the law IL yo'
Iii h. ,roInns and dsposs Of the notes hsTe toll
| +ba nrst1 q NJ Anil,
OF the tsx attached 10 them IL yoa a. not visa 70 rum
them End WILL sf.er the first OF Aprli exchange sasr
for new notes. IN ny opinion you viii lose nothing, 10
although You will got only two dollsrs for three yet as
" II presently show these two dollars VIII be worth 3
much il not more than the thTes ars now worth At a
events congratulate you that there can pc no tenPta
ton tosv1ds this treasury notes TAa tax stek
to the notss like sin 10 the eouseisnee feunay dzrse
with ssvea field darkness II you VIII, the secret place
in which you hide the notes. but the sx viii hnd ser
as essily as ID the sun light You msy bols them ava
IA strong vaults and iron safes If yeu Ike but ths Is
III brssk te strop rest bars AZ easily as eobweb4 Yo
nav take up your notes and hy into the euenys hne
or cross to the other continent but neither federal oeye
nets nor the oceans prevent or delay the 60
lection of tax You may run Cnth fsin5 win -
hsuston you rest on ths uttesaos eo1nds OF Il
sarh ma behold this i1itsbls tax collector has keI
with your pace, and without WEAKNESS = ey your si1
Z ACCOMMODATING the currency bill is general tax oil
You will fully understand ts preFtAons' ey praet
cal rs,r5cfions sadl viii not devote mueh space % I
confederation trest il here psrt 81 the hnanci
osue to pay TIE debts and carry on the GSEernasen'
t zen, on tressury notes The property take
3 tbs bf was bsId or owned on ths day Of the pa
s of the act The property Is to be assessed aecor
& 10 tts value Ia 1850 unless II be land slaves, eottc
= or tobacco purchased since the hrst Gay OF JsnuA
s69 which must assessed at tbs price paid II 81
Il , On profits IN trade aud business, there is gener
tax OF ten per cent and tbs profits above tWent
Eve per cant made By banks aRd nt soek eoIaP@ll y
In 1853 sad 1864 there Is also tax OF twenty nVe
ir There are few exemptions from taxation. apPlyl
4 chiefly 70 soldiers ami their families, 10 enureh y
ohcoi n-ooertv ard 10 property in p0sSsssion or or
IS NV a important 10 rsusmbsr that thsss taxes
IN addition to TIE taxes levied by the tax act o! e'
:. and tnxes under both acts sre to be paid In 1854
Tho AK in kind or ithng law as It IS Called IS q
10 n force but he farmer Is allowed TO deduct tns VA
ID OF bis Ehss from the i've ger cent eSie9 on ho ~
p of his property as he has employed in agriculture
= Wi ths msans adopted accomplish the end propose
"a VIII the currency be rstiredf
A. hs OF non Interest bearing Treasury not
san tbe frst day OF January, 1861 amounted n ro9
h nTrobsrs 10 750 OCOOO0 Of dollars satisfied tn
~ ne cjreulstiop on ths frss day Of April next viii
" nine hundred millions II the people 40 nos ta %
We exchange their notes. ss provided ~ tne l&m, ns
to bs taxed out Of existence. except about eieHy o
of he denomination OF i've dollars and nader py as
dav Of Jsuuary next / sssume, therefore, thst Ias
old notes will be either funded os 4, 1vroe
rs dred dollar notes viii all be funded or USED N
re OF taxes The OaRno, bs exchanged. 1ns -. 49, ~
rs pei argo funding, say 0J0vg wv over sh ~ Is y ~
- amount absorbed by taxes. Ths ta1es loL 70 90 h
o. ROT vet been dsduotsd which viii amount 70 ons y
drsd mlIio1s The old lgW will raise one hnnal9a 9
ions more for 1854. The new tax bill VIII Ia IS1S
=. hundred millions and perhaps more. There "I %
us tb-es hundred ulgoas which TO be exensnsse
rev, notes which viii retire hundred u1illops;
- vim raducs tbs circulation OF nine hundred millions
TO, two hundred millions. Let recAPitulSae ooo
N Circulation out lgt April, 1861, 9SO''NOS
1 From this dseac'- 9ssS I00OO0J
= D Taxes Tor 1854 under act Of 1853, toOS5S toOC50i
- 3 TaKes for 1864 under act Of 1s6i, @VV0'''
ne 4 Amount funded by act Of 1851, sbOye oo ,oo
Va amount required TO pay taxes, N0''N0S'
of & t,pe third Of the balance tax in e1- - 10,
change for new issue, WV
Bd, Making total absorbed ana retired Of 'VssO'
is s9oo o91o
ne Leaving balance In circulation Of only Szvo w ~
- This 5slance Of two hundred millions Wiii Oe - -
0Ss the new issue, sad IN addition to gettng ttO % =
Ii hundred millions OF genuine circulation, We - "
"a roilions Of the counterfeit notes in eireuiAeo
"a which ha,s also s-seled the currency The anoo'
- y, 4, he eXeept -