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The Daily Dispatch: May 5, 1864., [Electronic resource], The News. (search)
erate notes at par. The object in first passing the resolution was to sustain the Government in tire action which Congress had taken with reference to the currency, believing at the same time that merchants and others would do likewise. The sequel, however, had proven otherwise, and some steps were now necessary to save the city from any further loss. The President then offered the following resolutions, which were adopted: Resolved, That the resolution adopted by the Council on the 29th April last, requiring the Chamberlain to receive and pay out five dollars Confederate currency, be and the same is hereby rescinded. Resolved, That from and after this day the Chamberlain and all other city officers are required not to receive Confederate five dollar notes except at a discount of 33½ per centum, and to pay out the same at the said discount. Upon motion of Mr. Hill it was ordered that the above resolutions be published twice in all the daily papers of the city. The