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The Daily Dispatch: September 12, 1863., [Electronic resource], Proposal for a Confederate Credit mobilizer. (search)
perfectly understands the consequences, unless a stop be put to further issues, and the volume of the outstanding notes be reduced to a third of its present bulk. The great question is, How is this to be done? The tax will do much; but Mr. Memminger's remorseless printing press threatens to neutralize all the benefit that otherwise might be expected from it. While it is estimated that the tax will call in old issues, or prevent new ones, to the amount of $400,000,000, Mr. Memminger's assMr. Memminger's assignats are pouring forth from his fatal machine at the rate of $50,000,000 a month. Unless it can be stopped we see no good to be derived from either the tax or the sale of the cotton loan bonds. Doubtless some steps will be taken to that end by Congress, unless we are to be overwhelmed by these assignats. If it can possibly be arrested, then, we think, the tax and the cotton loan might be so managed as to cause a reduction equal to the demands of the country. When Napoleon III., upon ge