The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-05-24

DKpRro1Ar1oN or C1TY CuRRENcY.-There are
few persons resident in the city who have not been
annoyed by the refusal Of some parties to receive
the itymoney except at heavy discount. This
money was issued by the'cty as certificates of in
debtsdnees for which the corporation held them
selves responsible and it was only after long de-
liberation that it was decided by CouLcil to adopt
this plan rather than burden the citizens with
heavier taxes It was to relieve the citizens, but
especially the defaul6ng tax payers, that the bills
were struck of, and it was expected that they
would be favorabIy received by the community, as
the money was returnable at par to the city. At
first this proved to be the case or the depreciation
was 30 sght as not to affect the treasury but it ap-
peared to be too good an opportunity to make
money OUT Of the, necessities Of others, and the
bills were bought up by parties at large discount,
and returned-to the city at par.
This depreciation is peculiarly severe upon the
city officials sAheyare- AN Of them-paid in this
money, and they must either submit to the extor-
ton Of the shylooks or wait until the treasury can
redeem their bills. It would have been an easy
matter for the citizens to have acted in concert
and taken the money at its par value, but they
seem TO have forgotten every consideration but
self sgrandizement; the past has left no whole
some lessons, and as long as they rise they care
little who suffers. The city has acted her part well
il not wisely for rather than sue the Taxpayers
abe granted them time to recuperate, and, like in
CRATES, they have stung the hand that preserved
their property. Paper money can never be con-
sidered at the same value gold, but tho City OF
Charleston, has never failed to return her bonds,
and before the war City 6 per cents. were consid-
cred an excellent investment. Tho war has i'm
\ poverished corporations as well as individuals and
it ia difficult matter in the present emergency
for Council to meet the necessary expenditures ana
make both ends meet. Repairs are necessary in
every part Of the city, but if the finances are ham
pered they will never be commenced and our fu-
ture prosperity be but a dream. 1t was an OLD
adage that corporations had no souis, but it Will
become o truism if their pockets arc cmpticd, TOR
then they will be COZ pelled to turn deaf ear on
all complaints and only do what is absolutely ne
cessary to keep the wheels IN motion.
II the citizens do not prove equal to tho emer-
eency, and show by their countonanco and works
that they have faith in the city money they will
eventually be the greatest sufferers. a few, but
unfortunately very few, continue to receive tie
hills at par; but when the depreciation is 80 gen
eral and done, too, by some whv were the origlna-
TORS Of the plan, their action con be commended,
bnt not followed. We appeal to all who have the
welfare Of the city at heart and desire to see her
take her former position in the wo'd to assist her
nov in the hour of need. A concerted action
vould accomplish wonders for confidence would
be restored the city would be relieved, and above
all there would be the consciousness that they
: had done their duty.