The New York herald., 1865-02-16


Mat. soEAoE AND rREAsuRs y.sDs TO BIZ IN.
PREsssp ETC.
prom the Richmond Enquirer, Feb lsl
The reduction Of the public debt simultaneously with
the dedication OF the productions Of the country the
dence OF the nation, imperatively demanded ~ wen
by sound policy as by even and exact justice II the
should be given up to public good Il equally demands
that discrimination between kinds Of property be
made and more than ALL that kind Of property shall
not be fosered and protected by the sacrifice OF all oher
kinds And especially 10 this true when the properly
thus sought TO be made good has been obtained for not
onet tenth It's full value The indebtedness OF this con-
ederacy in bonds certificates and notes, amounts 70
abosg tro hodnd miuionsfor Vhich the uernseM nas
MT received the pse value Of too h'.sd cd naons .an
there be wrong injustice In reducing this ndeDted
ness and bringing 1t within the capacity OF the
Of the country 70 pay, and to provide io s y
about what the government received for IT,
If the public debt reduced to four hundred millions
and its interest-say four per cent-made payable IN
more than they paid and the country be relieved OF
great burden which oppresses all classes and par
azes the Of many TO contribute 70 the pubic de-
fonce. IL
the arbitrary reduction Of the public debt Where the
principal rredeemable the interest has been reduced
Thus England in l71s reduced the interest ON part OF
the permanent debt fom six to fve per censavlng an
IN peE which s
charge diminished f3 94 In l74S the four per
cents were reduced to three per cent TINS was
were TO receive four per until 26th December 1885,
from that time till the 25th Of December 1857 they were
u
interest reduced three per cent In tho year l75l
several of these stocks consolidated into one fund
20 nns is V
rous other stocks were consolidated at the same PERIOD
TO the amount Of fl7 100 a24 forming the commence
of the present three per cent reduced annuites
Again ssThe three per cent annutes, originated IN
1880 by the conversion Of the new four per cents which
had been formed 1922 from the navy Ave per cents
The stock created in three and half per cents in $780,
was In 1874 reduced to three and quarter per cent
Tn Tho rnta Ofi was re-
duced TO three cent and after 1874 may be further
We fnd France, in 1854, reducing her five per cent
into four and half per cents by decree Of the 14h
Of March, and diminishing her annual charge 49, 900
francs. In Spain the alterations Of the public debt
through conversions changes Of arbitrary or expe
dent character, have affected no less sum than
paid her colonial debt Of At the rate Of one
FOR eleven and forty for The present price OF gold
in these States the rates at which debt
converted These examples In the history OF other
nations might be greatly extended but referred TO
to show that conversion and reduction bear rea
To make what remains after conversion and reduction
valuable than what II before is no more repudi
alton than the e. taking Ak Of all the cotton tobacco &C.
for the public defence, so the former may be
made with justice for the public credit The
cent would remove that ocean Of figures on which
finances tossed in imminent peril OF swamp
all ideas Of enumeration, and do much 70 destroy our
credit Two thousand millions. Think Of III Who can
estimate iH Who can comprehend in Not the people
whose bone and muscle are 70 pay It, Mo- that army n
1e trenches, haes', shoe1ess oodess, naked hungry Y
fIng Shall these men, after years of such suffering,
work and toll through long years Of labor and privaton
and bequeath to their children legacy OF work and
toll to reimburse the bondhoder who, having now paid
dollar Of gold value then demands tent Let the cot
let lie sosd ss s'Is saes x s.ssise S ''''''
Having reduced the public debt to four hundred mil
every bond cericate and note leaving the country
from that which is now most alphabetically called
new currency. Two hundred and fifty millions OF
notes. undabe in four per cent specie paying bonds will
furnish that currency These notes paid out for the cot
ton tobacco, &c. would give currency to which gold
could never bear the nordnae proportion It susans to
the present currency because Of its being fundabe in
specie paying bonds The Indebtedness Of the country
would then stand four hundred millions four per cent
bonds-two hundred and fifty millions Of notes exchang
able for hundred and fifty millions Of four cent
bonds for which the government would hold as redemp
ton fund the cotton, tobacco &c, OF the country-a
fund amply able to pay the debt and provide in great
measure for carrying on the war. Taxation then upon
the endess chain" principle returning TO the treasury
each the amount demanded for public expenses
would place our finances on firm and sure footing.
Prices I'm the South Increasing with the
Expansion OF the Rebel Circulation.
fFrom the Richmond Examiner, Feb 1aI
The circulation Of the Treasury has now reached
the limit of five hundred millions Of dollars The pletho-
Of money Is not felt to be great II was with tho
old issue, from the fact FIRST that the aggregate circua
tion Of me old nearly dse as great; and second
anomalous circumstance that with five hundred mil
lions dollars In circulation, there should be scarcity
Of money at the Treasury scarcity o. money IN = the
usually held in mass. The anomaly, however, Is not
difficult 10 explaip. =
By artificial irenns and means wholly unncces-
sary and unwarrantablc the value OF this money
has been so deprecated that 1t requires at least
fifty times much OF II to make any and every
consequence that each inovsdal citizen must carry
in his pocket fifty times as ,auch money for current q.
pens,s as he formerly found necessary; SO that Il for
merry 1t required circulation of millions Of dollars
perform the every day business OF the inhabitants Of
specific Of territory, 1t now requires just nifty
times much OF the present currency OF five hundred
millions OF Confederate notes TO perform the same func
tons for the same territory II Is very easy to see,
therefore why money Is scarce with circulation OF
Ave hundred millions outstanding II is all in the pock
cts OF ae people The people obliged TO possess great
quantities Of 10 be able to make purchases at ALL and
each Individual having heavy amount on his person, 1t
Is very plain that an aggregate of Ave hundred millions
must be kept in pretty active circulation, and has not
much time rest in the strong boxes Of bankers or In
the vaults OF the Treasury
Now IL tho Treasury were 70 90 on issuing It's notes of
circulation until the aggregate amount OF paper ascended
from Ave hundred TO SIX scvcn eight nine or ten hun
dred millions OF dollars the effect would be To render
sixty seventy, eighty, ninety, or a hundred dollars
necessary TO the purchase OF what fifty dollars will
commando and the exaggerated anomaly would be
witnessed, of circulation amounting to- say thousand
millions Of dollars being cxtant, simultaneously with the
existence Of the same scarcity OF money In its usual de-
posorice, now prevails
The fact that the specgIa of The cor r1cy haze
h1feQ gfiIfd oeeT Lie treasury IheN put up new
battery around II every day two In the shape Of
brokers' SHOP and their guns bear down upon it
from every direction They do not that their boarded
goods, wares and merchandise groceries and specie
shall be deprecated by any circulation which the govern
men IN its necessity, NAV pat forth. They elevate the
price OF their property with each additional issue from
the Treasury. They have got the exact gauge OF this
business OF paper money and though the confederacy
may load itself With hundreds OF millions Of debt and
the soldier and producer may find their pay looing in
value every day yet their property improves upon the
common dstress-they prosper AS the country blecds
The Exchange OF Prisoners.
(From the Richmond Examiner, Feb. 13
The NEw YoHK HKRALD confirms the statement OF n
general exchange Of prisoners "includng colored
troops''-as II we had refused TO give colored
soldier In exchange for white one. When the colorcd
soldier indeed happens 10 bc slave cannot return
him 10 those who stole him from his master; but with
this exception coorcd troops always exchangable.
The Uaion state Convention OF Connec-
tiCut.
NoMrsATIoN oP CANDIDATES FOR STATE OFFICERS.