Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-05-25
THf KEW sosE9E on flsANoE
TIE following communication, from the Secretary Of
the Treasury, was laid before the ssnsts Monday,
and referred TO ire nsrc neminit,ee: ~

Hon. r H. 4. Hunter, Prssidsnt pro tesp.. l. III
sIR-Srce The date OF my :tpn Of the 2Ytns,sn',
neatly three weeks have Ella ssfd Dng that psriod
was intended to make ssle at pubic ansion. at the
capital of part Of thesx per can. rnexible boz d.,
win view 70 es abIish the rate at VII Gu a could DO
made at evr, commercial point within the Conf derscy.
Military necessities have prevented tn sale, snd still
rsouirs ity postponement The aid which &c WAS *
ed the Treasury would derive from that source H.
therfore delayed foe at eas: r,onh, and fer the e.
psndures Of That period Treasury notes OF some other
substitute becomes ncsssary. The ans provided By
Congress for supplying the wants of the Government at
this time coastal o.--frst the limited new issue OF
Treasury rote second of the sales of the said six per
cent bond; an thrd Of certificates Of Indebtedness.
In my report of the "A Instant bsve shown that the
whole amount derived from taxes during the present
year wilt afford al 10 paying the current exp1ndi-
sures Of the Cove nmens This regard a. CO Impsr-
feet feature of the x bill ard have recommended that
is be remeded b. additional taxes The collection OF
these taxes csnno take plaza In time TO the
gency, and resort must be had TO one Of the other
sources.
10 the report have Sc! forth the reasons Why
an increased Issue Of Treasury notes would Be iDud
cioas, and il these reasons are deemed adequate TO
justly the conclusion IL fol that resort must be had
the third mears of supply, namely: certificates Ct
Indebtedness.
Tbe great lsadipg vans Of ths Government 70 be
supplied at homo, clothing subsistence and rans
poration. II mrasuces be adopted which will
abe these wants TO b. supplied wholly or in part
through cert stes OF indebtedness great relief will at
once be Obtained. The railroad companies have gem
orally exhibited much patriotism that 1t is highly
probable they will readily acceps certificates In pau
payment of transporta iol :.
The other great wants are supplied by the manufac-
turers, formers and planters, who manufacture the
clothing and produces the subsistence stores of the
try II these parties could be induced to accept cerf
Gates for such Gces the subjects of purchase
n
tat by resorting to specie basis for ell purchases
aud mpressments they could be made more acceptable
both to the Government and owner. If all articles
wheu impressed were valued OF the prices Of 1850,
shen currercy Was at specie ssndard or at their
present value in coin, and certificates uers issued
for such vaue, payable two Yeas after peace
ia SPECIE the interest in thu msanlime to be paid sem
annually in coin, its market value in Confederate
notea substantial security Of thu highest value would
be obtained, The party giving up his commodities
would be better satisfied with the price and mode Of
payment During tie continuance of the he would
receive the rate OF interest as though his properly
had been valued 10 Confederate notes; and after the
war he would receive lie fell vAue in coin. The Gov
eminent would be better satisfied because whilst paid
higher interes. during the war Than il would do
der the existing a,, it would, after the war, save the
loss to which the present exaggerated prices have ex
posed IT, As no material abatement in prices has 90
Cured since the nesting of Congress- it 10 obvious that
the supplies voted by the last Congress must be largely
increased uoess such of relief should be
adopted at tbs present session. respectfully recon-
mead therefore, that the impnssment law be amended
in conformity with the above suegcsons and that DO
extended to ali fpes which may be necessary for the
support Of tie army and navy also recommend that
reasonable proportion OF the railroad transportation,
based upon the charges OF 1862 shall be pid in the
way. As the eash,ex OF railroads very
large and require supplies of mony for daily use. It'll
probable that one-tnrd Of such charges would De as
much az t.ey ctuld afford 70 lake.
70 enable the Treasury to uees the payment OF the
interest these ceiiihcats it would be sdyisablete
furnish it with ths means Of procuring CON. doubs
advantages would thus De gained. Tho Government
would be enabled to pay lis interest at lower rate and
the paying cut OF so much coin 1onid reduce the diff.
ference between the market Of coin and Confederate
securities. would, therefore, respectfully command
thai an additional spprop iaion be made TO ensbls fe
Treasury to purchase aod ship much cotton may
be made available Tor this purpose Ten millions If
dolari would probably be eulcen at the present SEES
sion.
Respectfully su6nit.ed,
&c MrxHIsGxR
Secretary OF the Treasury.
Yesterday, the chairman of the committee reported
the following bill, which placed upoa the calendar
and ordered to be printed:
BILL to be entitled An ACT to auhorizs certificates
OF Indebtedness 10 be given for property purchased
impressed, and for transportation, and 70 provide for
the payment Of the interest on said cest6cates IN
epecie.
l. That when certificates of deb. are issued In man
and form now prescribed by law in exchange for
private popery, seized impressed or for purchases
made for the cf tbs Confederate Government they
shall be Issued al tho election OF the owner OF eaid p.o
perty either for its mkst value in spece at the time Of
lp;esment, 20: ts value according 10 the average
prices prevailing dudlg the second and third quarters
II the year 1880 This said slus shall be ascerianed
IN ha ed N IN
provlsions of the i'm ressneut Law now in ex'aence
The interest upon he said cert6ca sha be paid in
specie, or if paid in Go fsdeate Treasury notes the
amount thus pad sa be az al in value to the said
specie.
O. That the appraisers at large In esch State, for
which they are appointed shall estimate and declare for
eschmonh the value in specie of the Confederate Tres
sury notes in such State aud The local appraisers shall
ascertain the specie value Of property impressed at
market iaes by first sscerain1g their values In Con-
edera.e Treasury noses ard then reducing them to
specie standard according TO the monthly valuation Of
the appraisers At large herein provided The inter
est upon the said 6cates IL paid In the said notes.
shall be paid according to the vslle Of said notes h
specie during the month in which the said interest falls
due.
The certificates thus Issued shall declare upon It's
face that psyab in specie two years after the rat
fcaiion OF treaty Of pace with tia United States Of
America, aud the same may be converted at the
pleasure OF tie holder at par into the unit xabs SIX per
cent. bonds authorized to be issued under act elti
tied An act to reduce the currency" &C., approved
l7tb Feb, 1854; butthsss certificates only be con-
verttd in sums which are muples of one hundred dol
lars. The said c'r.fcates may be gwen by the Secre
tarY Of tue Treasury, his dcreiod, in exchange fer
property impressed Sc zsd BY the Confederate Gov
erpment according to law.
A. All claims upon tie Government for railroad rans-
portson shall be adjusted by payment Of two thirds of
the claim audited in Treasury noef; the remaining
third shall be down he rates of 1890 and
be paid certificates issued in the form bereiabefore
prescribed. Add in case the railroad company should
be willing to aceep. than one-thrd in certificates
such additional amount of certificates shall be issued as
1860
That for the purpose Of procuring spy pre-
vide for the payment OF the interest on the Mates
herenbeore mentioned the sum Of ten millions Of doll
lars bc and the is hereby appropriated TO be sx
pended by the Secretary of the Treasury not otherwise