Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1864-03-16
The Rebel Finances-Bigh p,is..
[From the Richmond Enquirer p =

IiOAI Inc fslcInOnu Enquirer P.h-
On the publication OF the Currer,
passed by Congress, prices immediately a.
ed up Everything has an upward To-
Yesterday, lctishy ultieh had BEEN se7In9 ;.
ago for $50 per gallon, coul4 not b 5l1..t
sl20. Broae7l sugar $3.50 PEI. po,,s5 I
hogsdead, and none offering. Some Of 4b.s
ers have absolutely shut up and refused
business at all, preferring to hold on :.
goods rather than receive anything
shape of money larger than a s. note
All this Is but the result of The ,-s
panic into which the country has been +f-
by The unexpected reTaadidtio1s Of a port.ar I.
currency. II IS, holeseer, tie mere iufsg
tide, aud It's reti,iz ariH reduce prices 10 h..
standard 1t seems to be pretty gene.
conceded by all parties that prices viii
the currency appreciate, and eyervth:ro
better" after the first of April
But IL is much easier to carry rri..--
than 10 bring them darn, and the refr..
of prices viii not be so rapid as the 5g-
The total issue of treasury notes by
rebels in present circulation, exelas7s
1928, 900, 600 Of 80 notes. IS said t.
S72O, 000, 900, of which $500, 100000 ares
to be in 800 notes. The act which has
duced such an elevating tendency in prize.
thus described:
It allows the holders Of above five DOH
in value to fund the same. Those cas-
the Mississippi till the Ist Of April, 1864
those living west of the Mississippi tin
Ist, 1864, in bonds payable in twenty yas
with interest at fo11 per cent, payadls
January aud July LIST. Until the bonds
be prepared certificates viii be issued. t.
bonds or certificates are receivable for
ernment duties, except export and isrz
duties. In case, however, these notes
not funded, the holders must stand a S.
in them after the dates above specific
onc-third for after these dates the Cove.
ment viii discount them in ali paymg
made for taxes, postage, or even funding
the rate of 334 per cent, and IL not fun
or exchanged Tor new notes before the lst
June, 1865, they VIII be taxed one Luldgq5-
/ cant, or, in other words, Tee made vaIuel-.
But the fate OF the 500 notes Is a-
worse than this for after April Ist o..
east side of the Mississippi, and july Isl r.
/ the west, they cease to be .receivahla q.
1 public dues and are TO be taxed. or in OIL.
words shaved and ara also subject 10 q =.
per cent. additional tax every month. F.
/ PAYABLE in these notes. So that the hold
if any should be fool enough TO keep thar
viii find himself rapidly mourning :
1 debt on money which the money itself "a.
not pay. The legislation viii comneI ?.
| prompt funding or burning of the $4,000
/ geo 500 notes. This amount taken fron-
4 circulation viii Leave $500, 0UO. 900 But-.-
/ Of this vii! also be promptly converted IN.
4 bonds, for the bonds are TO be received
/ public dues, while the notes will be den-ar..
/ ed one-third after April and July. and ur,.
! exchanged for new notes viii be valua'ess
/ The Secretary of Treasury is authorized
/ issue, for future expenses, six per cent bg-=
| in SlU0, or multiples of 800, PAYABLE :
/ thirty years, interest semi-anuuaI These b
/ Is 10 dispose Of on the best terms be c-
| TEev IRE free from taxation and secured p
! expert duty on cotton and tobacco. C6r.
I Gates. however of indebtedness are mt
/ the same footing as Treasury notes above fl
dollars, and, after April and july, must
taxed one-third. The fye-doIlar Trcasu
notes are 10 be shaved as the others. ouIgu
time with them Is extended to July 1st. q,
Of the Mississippi, and ID OF October We.
They are not liable TO be taxed out OF ezts
ence-
But the incest little swindle on q a conf
ing public F" Is concocted in the 1Oth and 10
to increase the number Of bank depOsitorg
But the 10th says that if any bank of &
post shall give its depOsitors bonds autd-
lied by the Ist section in exchange for Oh.
deposits, and specify the same on their bon
By some distinctive mark or token, TO
agreed upon by the Secretary of the Trea.
~, then the said depositors shall be entit
to receive the amount of said bonds in Ire
ury notes bearing no interest, and outsta1
ing at the passage of this act" In 9th
words, if depOsitOrs make deposit Of fun
more valuable than Confederate notes. ban
ers are authorized to substitute bonds uu
chasable with Confederate notes in lieu
them. That may help the Government %
the banker, but how, about the dep0sitor.
The Secretary Of the Treasury Is prohib
ed from Issuing more notes after the Ist
April, except in exchange for the old al
then at the profitable rate for the Cover
of two new notes for three old ones. T.
old $50 notes, Of which there are SI2g. 90.
600 out, are no longer receivable for due
but are directed to be funded. We do III
believe that the whole financial history OF Il
world viii furnish any parallel to the sapie
legislation of this rebel Congress, which 81
by legislative enactment seeks TO reduce
redundant currency by virtually destr0yI
its value one-third After such an adre
scheme Of swiLliing as this, what faith W
any capitalist have in the fUture finance
projects of the great repudiatOr and his Ct
adJutors? And what guaranty have the
that any limit OF issue viii be kept by so pc
fdi8us government