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The Daily Dispatch: April 29, 1864., [Electronic resource], Raid in Western Virginia. (search)
The five dollar notes. It is a useless and unavailing effort, that of attempting to check a stampeded public. It is plain that there is a panic touching the five dollar notes, which are doomed to death, as it were, on the 1st of July, some sixty days hence. They already assume the ghostly reputation — they smell of the dark vault wherein they are to lie, in musty confinement, until submitted to the flames and their unburned ashes shall be scattered to the winds. So people touch them rel Government credit. The law has its thumb on the fives, and we have no idea that it will let them go. Nevertheless, let not the people be too much stampeded by the depreciation of the fives. They are fundable in 4 per cent bonds until the 1st July at par and after that at thirty-three and a third per cent discount; and the 4 per cent. bonds are receivable in taxes to the Government. There is really no good reason for their rapid depreciation. They are like the new, but the promises to p