Clipped From The Times-Picayune

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 - -w-ajivsaenropor-toonstv lavw-viably rada-It,...
-w-ajivsaenropor-toonstv lavw-viably rada-It, SI 81 bo . Fri-' and we to the tn. has Post- V a w that to will for the the in eve- ice the a lor our this in Rail- a Or oi. and four on car be facts per- ' received an old to who an of the his home, Times,' the said of adrer-tisement. by John offer and advertisement. to this Messrs. T orpin, SMALL Si'TE CURREXCY. TLe great embsrraecmein. tbe rP:le of thi ity are now suffering ut-der is, literally, tha which arlees from tbe lack oi procunnar tne necaries of life. " e do not say the lack of those netessaries, for it 's notorlcos that they are in abundance, and within tbe reaou of all who can and will pay the eaormous prices demanded for them. Wemeaa, sirridy, that the mosey, or u representation ct money, wbicnl tbe only one that can be obtained by those who must eat to live, and woo, If that money cannot obtain wiUi it the means of living must starve, is not considered to be money at all by those who alone have the mean, of providing them with tbos. necossa- 1 nee. ine sellers nave virtually repudiated and discredited the great bulk of that which the buyers have received, on competition that or nothing aa currency, and which is, in effect, no Currency. A visit to any of our markets will fully ex plain to the most incredulous very satisfac torily what we mean. Tbe purcnaser is asKea, before his joint is cut, " what money do you pay in T" and if it be not in that particular pedes of ablnplaster tnat tne caprice oi we seller settles as good, you may as well be without the pretence of money In your posses-eion, and may go nungry, that day. for all he will de for you. So the tradesman keeps his hop doors shut, and will not let you in, for tear you will demand something of which he has perhaps an abundance, and will insist on bis taking what is called currency in payment for it. So the gardener will not bring his vegetables or his eggs to market, in absolute dread of being obliged to take what has been declared to be currency. They all say they ar not obliged to sell their wares, and they had rather keep them than sell, or exchange them for the only money we have to give them. Some, more adventurous and more willing to run risks, bring what they have to sell to market and put a premium on their articles of trade, in consideration of the possible loss they may incur by taking the problematical currency we offer in exchange. And that premium is an enormous one. The rich can afford to pay it, but the poor, nay, the man in middling circumstances, cannot, The result,. so far as these are concerned, is as if a famine bad stricken in the land, and thousands must starve in the midst of comparative plenty. For such a state of things it is natural that the thoughtful and the provident among as should have cast about for a remedy. To correct such an abuse it was to have been expected that thote to whom has been entrusted tbe care of the interests of the people of such a city as this would devote their beet energies, their most intelligent efforts. The City Council, in order to diffuse among the community a healthy confidence in the value of the paper money issues of firms and individuals in onr city, caused to be published a list of those they considered sonnd, and made the municipal authority responsible for their redemption. This was a step in the right direction. But it would seem that it did not reach, although it approached the cure of the evil deprecated. Still these issues were not ascepted by the mass of sellers, as, in their estimation, an equivalent for what they were aeked to dispose of. Something further was needed, and the city authorities have wisely met that exigency. They have adopted resolutions requiring from each and every individual or person who has issued notes or checks for change circulation, a statement under oath of the total amount of their issues up to tbe 6th inst. ; also to 'require from said parties issuing said notes a spscial deposit in the hands of tbe City Treasurer of ample security for an amount equal to their issues, as above sworn to, or such security In favor of the city of New Orleans as shall prove saf'afactory to the Finance Committee of tne Cumuion Council. Moreover, to require the surrender by said parties issuing small notes, to the Chairmen of the Finance Committee of the Com mon Council, of all plates or blanks in his or their possession, which plates or blanks shall be destroyed by said Chairmen. The Chairmen of the Finance Committees of the Common Counoil are then to cause to be published the names of those who shall comply with the above requirements, adding thereto the amounts of their respective isauas, and the amount on speoial deposit or the value of the security given to provide for the future payment of all issues made by said parties, and the Chairmen of the Finance Committees axe instructed to institute proceedings, through -the City Attorney, in the name of the city of New Orleans, against any individual person who shall hereafter laeue their respective notes or checks for small change circulation. The resolutions adopted by the Council then go on to autnome tne r inance uommittees to issue city notes, signed by the Treasurer and Comptroller, or their deputies, equal in denominations and aggregate amount to the small change circulation of individuals or firms, as above sworn to, and the payment thereof secured, which city notes shall be redeemed with the proceeds of the securities received from said party or parties issuing small change circulation, and which proceeds aha 1 remain pledged and be specifically appropriated for the redemption of said small change circulation. And then, as soon as tbe city notes are ready for circulation, the Treasurer is to give notice in the public prints that the individual notes or checks, as above named, are no longer currency, and muBt be presented for redemption or exchange for city notes at the city treasury. This, it will be seen, is an assumption by the city of the securities upon which the :s-sues of individual notes have based their issues, and of an obligation on its par to meet them at their nominal value. We anticipate from this arrangement tne beat results. Will not those to meet w&oec scruples, and to secure whose safety it has been 'made, do their part in contributing to the relief of the community ? A Fiw Mors Theatbisal Items. The Ru-toil Tork Bache-lie has we last by i BC. all. be not tbe to a is "

Clipped from
  1. The Times-Picayune,
  2. 13 May 1862, Tue,
  3. Page 2

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