Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1865-02-02
TO TIE HOY. HUMPHREY hfRSHALL,
I.L,I ur KETREsLNTATIKES

Iu ans .l,i aJter pledged myself TO demonstrate
t..t .s .~-..l- treasury tttuuc1tts ana i"hdihS
r..- 90. proposed 8ni-levyius ara appropriate export
-... -..-.s., may ,u t.mmisist volume OF cur
rome. Us tH.Jtviyc tle public confidence. pIedge1
myself i-s,le. 70 prove that au appropriate export
t.t. vli when oU. foreign commerce reNlNe'' cred'e
10 flaf. ta OvlJil ln i ece oN the oreisn consumers
.oI our products ample Jo pay the interest on our
-.af.., deceit sud 10 restore the value OF the cur
-e.cy DID tle specie standard This J now proceed
90 1..
NOM currency was now convertible into gold ITS
81. fus. ..ull he equal q. gold. Congress have 2u-
t..r-, the Issue OBJ Treasury notes because Il was
f.f...i. O. obtain zoii or otherwise obtain funds
.... Do. The debts Y-.r.l- FOR ie c1h'Ho" 0q."c-,
and .arr, uu tie Government OF the confederate
- State, Tie Secretary ot the Treasury SAYS IN
Dill, V-Irrt. ..rb5t the Government must be supplied
r---. s.I.si.rt means % carry on the war All are
-.ra-I On oar enemv offers rs no terms short OF
...rgsiuieusi surrender " hic, liberty and pro-
a.rty end ug choice Is leit us even Il we were us
posed tu hesitate. which We are nor 'u' 10 continue
Tie wrr Iif Nct..t- t+fre''re o. q permanent
. -.r.-at system o., finance is Indispensable 10 tie
r.l i.-.l .r.sa. sui uucalstrUiued use OF our re-
...l..- return o. specie payments being ior
she present iulrarUrse'e. on. q ,-'s''s' /"
-....e...s fI fs,'ar. at 0ot1D, ts rdtle or ne
--.-. .-..s - r.-r.scu. The accomplishment
cFtF.s end o., o.. such ggst Importance, that 1t IS Of
al others that tu wbicGtle resources OF tie country
,rraiI'fe devoted and applied.
-...rss., language oi tbc Secretary agree
~
Tr-l.i ul e, Ter ys % D. possible 70 differ as 10
st rla resource, OF the country are. ami the man
l.r ia Which they are Co be applied lie admits
E,. TL.ctte Government must be supplied win
sr t..ra. means ts carry ON tiie war.
a. Iuat specie payments beng lmpracucSDie;
...lt .rv IS veturrIt Is possible TO restoIeand
s-.i.ts-u ,-g value OF tho Treasury notes as cur
4...r-
he proposes system ol-oucfouS, unjust waste
E.r u1tJrsl unnecessary aud unconstitutional tax
-...r . .v,.riA 80 odious that every one, capable
r. rejection must know that nothing but the pres
sage 90 tle n-r could induce tte'peopIe 10 submit
90 atsr pea. 20, longer than E7y he necessary 10
g4ueEltu- A4s imposing it. The aoeIpt TO Plelge
I'll. -.t. of tie Government 10 continue =. IS 4
I.sGi g.... should aud VII prejudice the luDiic
.-.l.i t.... o, sustaining &c. Yet tie Pedse ma!
81. limited 90 the out Standing Irka5uty holes "u-
t.g... .s OBJ. issued by the act al tepIl"E! 4'th'
I.si sgt system adopted which |ill ehSo'e ile
o. yer-.eatt 10 fund JHe uutesSo which that act re-
t-.s Irs.c.J yt paying them OF by TAXATION as ne
proposes Js. DO. As i understand his s!stemi ne
Contemplate, ,u annual tax of six hundred mlIhons
e. s,.sr, believing that by reducing me sum 'oi
Treasury ugrss I'm circulation 70 Sl5O, OOO co., ana
--..ilio- thet 90. be paid m taxes quarter
yearly tie demand Tor tie notes .tr tue pay men' OIL
take. Nu So increase their value as 10 make them
.ysiI0e s, currency object 10 the system nor
only 1se.r,e the take, imposed 10y II are unequal
unjust ..l institutional tUt because they are
-.......- ..uu.r.s,.r,. The secretary himself
,,-, faj The depreciation Is caused by the redun-
....uIr-l.I ut the currency. concur III the nece>-
s.y vt diminishing the volume, h0t DO NOT concur
'p ttv j-uel thSt,.u p tax .oI sooV oo' uVO Pay
.tl, quarter yearly Vie currency Toe reduced 20
sl51 CgI uDJ ami TIN, s bv pali INTO the Treasury
every uu-J. days 1t can bee ae an paid out m such
manner u.s. go DE distributed among the people so as
~ euaai- them tD pay all back again every ninety
DAYS TIE statement OF the proposition shows II To
S- imprert5c5ul-
Dgu.rrr.ng luuy IN the uece,s,tg OF reducing the
,o.ume Oh The sum requisite lur use, as money,
,DrU eut.reS q Stem oi funding " Inch VIII do
tl,, ...f. fr unequal or oppressive tNNdtlph.
Isle would .--c certificates rccel' Stlt IN pay
-reut o. aII Puoic dues except the export dHues,
sul al. payments from Che Treasury should DC ~
s.-. g-rtirrst.s @, SOD specie.
g. I .ggli msl, these certificates legal tender,
ursyucuty 81 o.. debts except export duties aud
tl, Interest cl tie uUded tett.
s. These cert .sratos and an outstanding trea-
s..r. notes should Ue tuudabe. AZ tie Will OF the
t.li-r. il roE. Ga bonds aud, n not funded IN SIX
mouths from tine date Of issue they should lie taxed
fyc per cent, aaj am additional five per cent. for
a-rr H5netr dly, thereafter during which they are
Lvtisuded.
4, Il, t.,as should be rcdeemable at the plea
ssI, oil tbs Government and bear Six per cent. per
.auru interest, payable srml-auuudllyr IN specie
81 si.1uI Ue free tfHm taxation, amt az all times
recoverable into treasnrg certificates, dedactng
rive per cent for conversion the coupons to oe re-
csir..s 10 par With specie IN dues 70 the Govern
Itut
l..
o. OBJ &c coupons ot the funded debt, an export
..fr. .l s.i cyportatle commodities corresponding
.-- eIts.. Of such duty, ON the prIce.ln the Tor
Ell. 1u1r.gt sU as tlat. the price paid TO the pro
d...f un the home market should not be less than
i, would receive jt there vas no such export duty
g. Congress. have power 60 regulate commerce
v..n .arc.su nations. aud under tins power they
st.aII .rtl-sre the taking Of all eNportabie arti-
cIr.. especially cotton tobacco aud naval stores
and So regulate the shipments as 10 command 'he
I.i.,t price, iu ihe Foreign markets when can DC
E.ftl tI... r rkgts. It being admitted that we
are compelled 10 issue and Use the public credit inc
k..t question:, ULat shall Ice the form OF the ctea'
.l., .slllut Congress nave issued Treasury notes
as cup,nry, aud are eXkTe'SlY aulhoFl@eu
o. pass a.i is,, Vtch shall be Necessary and proper
GOT crrr ing mth execution lu powers vested 0y the
t.r ..t... .r Ole Government Of tie Confederate
.-s, 81 m any department or officer thereof. Inc
l,-.-t. bejI,, coEcedcNJLe right 60 make it a legal
t,rIcr cannot lie doubted. 1t is expressly granted,
f 4. DC necessary and proper TO regulate the value
of lie currency tuUs created.
Itr,iurcl ~ tie Secretary adults that the depre-
e.'-,u vi Treasury notes IS the consequence OF the
r--.nd.n,y. tie volume may be immediately III
.,u.l 10 Ire sum required for use money
o. funding Gs proposed It. cannot be SO
g-..i,hc3 i2 amy eoucoVaole period Dy
he system which the Secretary proposes. His sys
ts., rests ON immense taxes, 80 OnerOus and OPP
r,l..- chat lie apprehension that the people will
sirit 10 IL after peace, will impair, instead OF
Sr... iau, The public credit Mine rests on export
6c.s.s. ti be paid I'm specie or specie coupons oy
enc foreign Consumers OF our ioreign eNFor.S, auG,
as I' tni. extent tine proceeds OF these uues wiz
roI.svr our ev-u paorlc from taxation, the pubic
Nil lave confidence thst they viii be enforced
T-nsror sr.h circumstances, the export duties which
lr Irera tina De gple from taxation, and therefore