The daily Chattanooga rebel. [volume] (Griffin, Ga.) 1864-1865, 1865-01-16
CONFEDERATE MONEY.

This paper proposes TO coEderss some views OF
finance, recommended by the Secretary Of the
Treasury to Congress, TO be applied to the rsduct
ion and regulation Of the public debt. aad to show,
to some degree, the proportion which that debt
bears to the taxable capacity OF the country.
Under representative Government, Il il not msss-
ly . e privilege of every snf.snehised citizen TO
cast HI. ballot, but Il is duty rs binding upon
hin: - ;hr exercise of his suffrage is 10 Inform
hfs,'i e hs operations cs the P-iucpies his vote
IA given TO uphold The sys:eIn, whether wise or
unwise, by uinh taxes collected and disSurscd
r,uss always u source of ntsrezt and anxiety 20
eTe;y citizen, because above all other powers Of
Government, The taxing powe. more directly
to his .ire-side, advance o 10 defeat the effort.
of his industry.
late letter from Mr.. Trenholm to the Hon
s. Lyon, chairman of the committee on "ways
and means, furnishes = lusd and concise state
ment of bis recommendations for the establish
meut of ajnking fund for the ahsorptiop of I.
portion or the debt.
!; in recommended to rcduen the Trezsurv no,s.
used currency, from their present circulation Of
,Ooa to sl50, zoo, GEO. The reduction in to
be accomplished by means Of Taxation on proper
~. and IL sales of Government. Bonds It il
sough: to appreciate the currency value of the
s15o,e9o 800 left outstanding, By rrovidir- for
their uti=rars redemption after the war vhsn thew
will be no longer used currancy. To secure that
end, there should be . continuation after the war
of the preseRt iaI-ir-kind wheat, corn and cot
ton. The proposed tax in kind il limited tn the
great staples enumerated. because of their general
marketable demand, and because Of tho uniformity
Of their production in the dffsreat States; while
the practical operations of the plan propo.ed.
would be simp!ifed BY reduction of the sements
ut work within it. If Virginia cannot pay tho
quota assessed her in wheat .ad corn or If Ala
baus cannot pay hers in cotton and corn, at h.sd
prices then each must meet the deficiency in money
arising from the sale of other produce on her own
the account of her citizens.
But Mr. Trenholm suggests to the sspsrate
States, simelsz and more immediate plan for the
reGemT ion by each of its quota OF Confederate
Treasury notes. than that instituted by the tax in
kind suppose, for example, the quota oF Alses-
ma in those notes, tie be $40 00e &c., or enc ,s ath
Of the whole. II she will borrow from her Banks,
or from her citizens, $4,000 oUe in gold, ahs esa at
once buy up, at the ratio oil twenty for ous her
quota OF Treasury notes. In other words she
may transfer an Indebtedness of SO, 0oo ooe 10
the Confederate Govsrruent, By inenrrinz enc Of
100000, to her own. That being done, she will
receive certificate Of exemption from all l.hiltry
or tax on the score Of the Treasury notes. Can
the State readily assume the proposed deb. OF can
she decline tofdo SO, and EARLY bear the one now
hers? 1t is easily proven, her RESOURCES Justify
either of the two her policy may choose Her cot
ton crop alone, In the Lass year Of pesee broaght
to her eitiEsas more than s2o, 600, 600 In geld.-
The tax in kind years full crop at cents
per pound, would bring the g. ooe, 600 reqairsd.-
wide United States statistiei.)
By what conjeciural, yet probable estimate, may
The vRlus Of the kind to be collected from
crops, to ks produced after the war, be approx
imatsd7 The enquiry, (fer illuE,ratioa) may be
confined to tine cotton tax. II is found to dspesd
on two primary considerations frat, &C. what fi,it
will the invasion Of the enemy probably reduce the
slave labor Of the cotton Suites, and secondly viii
gold be high low in the general market OF the
world when our Govemmsn. offers tho tax cotton
for sale.