Year: 1863

The Legislature-Confederate Currency.


The Legislature of this State, which will assem-


Die In extra session to-day, TUESDAY will no doubt
at once consider the subject of receiving rejecting
In payment of taxes Confederate Treasury notes
issued before the 9th of April 1863. The present
law, which authorizes the reception of all Conled-
crate issues, was passed prior to the action of Con-
gress and of the Legislature of Virginia which to
some extent, discredits these notes.


After some reflection, we are decidedly of the
opinion that common honesty and sound policy
both require that discrimination should be made
between Confederate issues but that all should be
receivable alike in payment of public taxes 1t is
true, the action of Congress breaking faith with
the holders of the issues previous to the 9th of
April 1868, in relation to their value as fundable
medium, and the action of the Virginia Legislature
rejecting these notes in the payment of taxes in
that State, have impaired their value and conse-
quenty diminished their circulation but it must
be borne in mind that in all other respects these
issues are just as good as those of later date. If
the Confederate cause succeeds, they will all be
equally good as a circulating medium but if the
cause should fail, they will all be worthless and
the only good paper money we will have will be
the Bank notes and State Treasury notes. And if,
in the end, these rotes should all be lost it will
make no diferenc, whether the loss falls directly
on the State Treasury or on the people at large.


ANY other course, it seems to US, would not only
embtter the people against all Confederate issues,
but would be the cause of great inconvenience and
heavy loss to the taxpayers. A law respecting
these notes may be passed and published in every
County in the State, and yet thousands of the un-
informed will attend in compliance with the present
law, at the tax-gatherngs, with these very notes,
and will be compelled in order to pay their taxes,
to submit to shaving operations which will'be in
dustriously carried on in every neighborhood. The
honest and uninformed would thus fall prey to the
shrewd and knowing; and it is the especial duty
of the representatives of the people to protect the
former class. Besides, rejection of this currency
by the Legislature would at throw it out of the
Banks the people generally would dscredit and re-
fuse it, and thousands of our most worthy poor
the wives and families of our soldiers included
would find it uncurrent in their hands, and would
not be able to purchase with it pound of bacon or
peck of meal. 1t is true, the government at Rich
mond would be responsible for all this {; but de-
sire to the people, if possible, from these evils
and we do not wish to see them excited, as they
would be- against the government on account ofsuch
evils


But we take higher ground even than this. No
matter how this revolution may terminate, we want
to see North Carolina emerge from it with clean
hands and unstained garments. Honesty is al1ays
the best policy. Let our State be honest if she
should lose by it all she possesses. Let her shun
the appearance of repudiation. 1t by no means
follows, because the Confederate government and
Virginia have done evil that good may come, that
North Carolina should initiate their example.


While on the subject we invite the attention Of
our readers to the able article in our paper to-day
from the Charleston Courier, headed Astounding
Revelaton-R The Courier has spok-
en- the sentiments of every honest man in the land.