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The Daily Dispatch: February 1, 1862., [Electronic resource], article 11 (search)
differ, it seem; upon the questions concerning the manners which the Government shall use their credit. Some are giving to the Government the exclusive right to issue a currency to the extinction of bank paper. It is quite certain that the banks will not accept the Treasury pain of buying Treasury notes for their circulation, simply because they have not capital enough to do so. It is estimated that the amount of revenue necessary for the Government, if the war should cease on the 1st of July next, will be two hundred and fifty millions a year including a military and naval peace establishment, and the interest on the public debt, and a small sinking fund. The whole sun must be raised by taxation, direct and indirect, and, it is believed, that even the loyal States can sustain it. With a taxation of two hundred and fifty millions, a treasury note circulation of like amount would be supported, and it is contended that it will stimulate industry and afford facilities for busine