Plan for the improvement of the Currency.

In the House of Representatives Thursday the following plan for the improvement of the Confederate currency, and the relief of the finances of the Government, was submitted by Mr. Russell, of Virginia, and referred to the special committee of seven, raised for the consideration of that question:

  1. 1. To prohibit the issue of Treasury notes, except in payment of existing Habilitate and contracts, and of such interest as existing laws authorize to be paid in Treasury notes.
  2. 2. To levy a tax of — per cent. on all the Treasury notes (over a certain small sum) held by any person on the first day of every month, in addition to the other taxes payable in Treasury notes.
  3. 3. To authorize the Treasury notes not now fundable to be funded in bonds bearing four per cent. interest.
  4. 4. To provide for the future establishment of a sinking fund applicable to the whole debt incurred during the war.
  5. 5. To increase the tax in kind, and (after a certain time) to repeal the act authorizing Boards in each State to regulate the prices of impressed articles.
  6. 6. To issue commutation bills of convenient denominations purporting that the Confederate States are indebted to the bearer in the ruins there in specified, and that the bills are receivable in commutation of certain taxes according to law.
  7. 7. To allow the taxes in kind, (or such of them as the law shall determine) to be commuted by the payment of coin, or commutation bills, aerates about equal to double the prices of the same commodities at the beginning of the war.
  8. 8. To limit the amount of commutation bills to be in circulation at any time to $150,000,000.
  9. 9. To authorize bonds to be issued to a limited amount, secured by a pledge of adequate export duties, and to be sold during the war, without limitation of price.
  10. 10. To impose such export duties at once, and authorize them to be commuted by the payment of a small fraction thereof, in coin or commutation bills.
  11. 11. To allow the commutation bills which shall remain outstanding to be funded in such bonds at par, after the war, or sooner, if Congress shall think proper.
  12. 12. To receive deposits of coin or commutation bills at interest, in Government depositories at Richmond, and other places.

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