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. - 1 1111 1 1 * [continued fkom first page.] did iu obligations of the community, to the amount of the Treasury Notes in circulation, and the fact were fully known, there would bo no discredit of the Confederate currency, and no injurious effect, but that resulting from execs*, " But the whole property of the country is bound for the ultimate redemption of the Treasury Notes;k' so you say. Suppose it is; and there was no doubt payment Could be enforced ; that would not cure the <*vil of present depreciation from excess, and would only obviate the injury from discredit. Uut a government (or a man) that would compel a creditor to lake 20 cents in the doliai*?as V*****-' says emphatically and deliberately the Confederate government must do?and that, too,-by a bold usurpation?will never coerce itself to pay its debts in full, in coin, or .anything else. Mark mc, sir! Those who .tmniw , ...... jvv. U IUI UIC Gordian knot of the legal tender of such currency as tiiat of the Treasury Notes, will soon cut it with the sword of repudiation utterly ! If it* is good?41 especially good"?then no compulsion is necessary. To attempt compulsion is to pronounce its condemnation?to write across its lace?4* not good !" The case is embarrassing?alarming, if you choose?but not hopeless. Any legal tender save that of the Constitution?"good and lawful money of the State of South Carolina," as our hoods read?that is 44 current coin"?15 charlatanry ! What then is the radical and art tin cure ? Taxation sir ; Taxation ! Let the government create a debt against t'le community to the amount of the excess of the currency?its debts to the community?to be paid on the first day of July next, if that bo possible, and then the discredit now tainting that currency, will cease; and the excess, too, will soon he removed; and the Confederate currency?as was the Bank note currency in" 1858?will he restored to a sound state by the relation of supply and d niuh'f. murium ac. Note.?So far as debtors are concerned, there is absolutely no obligation to than, to receive jLivuruj-v i>oies hi payiiient?none legal or moral. Why then docreditors, and especially all our banks receive it? Because of their relation to country, ami the cause?because of the incidental mischief that would result from their refusal to receive it. Banks (and others) see well,enough, the ungenerous advantage that is4 taken of their rciuctaucc to do incidental harm to the credit of the currency, and are deliberate! v, putting all th'ir eggs in*one basket. M. or Mie* Gi* iicn* Sloaacwall .Storkstm Kichmond, May 11.?Buisuess was suspended hero to-day nflsr 10, a in. A special train containing the bodv of General Jackson arrived at half pa.>t three. An immense coucour-o h d assembled on Broad street and the Capital Spu re, awaiting the train. The body, attended by a l uge military escort, was removed to the Governor's mansion, where it will bo embalmed* To morrow morning a grand f.iti.ral procession vvi 1 escort the remains from tliu governor's mansion to tnc Capital, where they will lie is; slate during the /day General Geo has issued the following: Headquarters Aumy Northern Va., } May 11, 1863. C General OnUrx Xo. CI.?With deepgvief the Commni ding General announces to the army the death of General Jackson, who expired on the 10th ins!., at i ? ? > Til e ci:trii?l?* ski.i ami energy of tins great and good so' her, i?v the deree of an All wise Providence, are now ;<>-t to in; hut, while we moun: his death, wr ?VcT that his spirit still lives, and will inspire the whole army with his indomitable courage and unshaken confidence in God, our hope and our strenght. Let hi* name ho a watchword to his corps, who have followed him to victory on so many fields. Let oliiecis and soldiers alike emulate his invincible dotormation to do everything in defence of h's beloved country. (Signed) K. E. Lee The Cat Out or the Bag.?Tin* N*o\v York Tribune, in its zeal of defending Admiral Dnpoiit, lets the cat out of the bag. Itsavs that Admiral J)upont "did intend to rosin no the engagement on the succeeding day, hut in the meantime the commanders of liw of the iion elaib?the . eokuk, Nantucket, J'atapsco, Naha'it an I Lassaic-'-iept/rted their vessels as unlit for dnty-defiving him but ?t>n gnus for the r n w si of an attack." This sc,.|iJ;, :i little bke the \ ankoe iron-cluds sullered in tiio "rcvou nois&auce." t'auniai TTEHJ Vjf? J Jack May 10.--The Natchez Courier has information, by an arrival from Port Umlsoft, !hut Kirby Smith, with 10,000 raw troops, had whipped ilanks?whfppod him badly, driving him to Washington, La. '1 lie Confederates were from the opposite side of /.he river. cteroi j. \vihtAKeti, YTOnuent. - - -?m 00 \ ? f fje Cntnbrn Conffkriite, AT TflRSE DOLLARS A YEAR, PAYABLE INVARIABLY HALF-YEARLY IN ADYANC Terms lor Advertising: For one Square?fourteen lines or less?ONE DOl LAlt AND TWENTV-FIVE CENTS for eac insertion. Obituary Notices, exceeding one Squire, charge to at advertising rate. Transient Advertisements and Job WorK MUST B PAID FOR IN ADVANCE. No deduction made, except to our regular ad vertisin patrons. T. T. HERSHMAN, KcLitor " r It i DA v, RI a Y 1571963. received and had in type, for last week' issue, a very interesting letter from our Arm; Correspondent, which we would have beei pleased to lav before our readers, had not ai unavoidable accident to one of our forms o type prevented its appearance. The date 1 too old for publication* now, especially so sinc< our victory at Chauccllorsviile. XPcrsoiial. We had the pVasuruof a vi.it ;'io:n our con Jicre, Lieut. A. A. Gil nfur> of the Smutci Watchman, and now in service, connected witl the DeSaussure Light Artillery, stationed 01 James L-html?wjio, when occasion offers, w< have no doubt w'ill be as effective in the fielc J as he has always been in the columns of thai ; sterling sheet. These meetings are now, un , fortunately, more rare than they were wont t< : be, and editorial visits, like those of angels " few a d far between," arc appreciated am enjoyed, as we suppose those heavenly one: j would be, could any one he a recipient of tin n ! in these degenerate davs. We have to acknowledge many favors in tin shape of advice, commendation, iustrnetioi and friendly reproof, kindly bestowed unon 111 by our correspondent " Merrimae," in tin course of the discussion upon the currency which, we presume, .our readers will he glad U hear we close, to-day. And we arc nlmo.y tempted by the sad u adieu," with which hi present article closes (addressed to ns, we flat ter oillselvos- and in w 11 i. I. * .?n -t. 7 % lmvc no lot nor part) to lay aside t'or the ucoa sion, the formal ^editorial " we." and stepping forward, hat in hand, make our acknowledge it:ontii like a man. We have received tin praise of not being misemployed-?:io :ligh encomium (negative lliottgh it 1 c) in thes< uays of "corn and bacon nabobs'' and (shal we say it?) 44 representatives" of ereditoiswin refuse Treasury Notts, lint as if to dash on delight at being so commended, the fact ha been discovered and published to the work that our thoughts, like carelessly handled silk r? m * will get tangled, and violate that oidcr whicl is 14 heaven's lirst law." W e have long sua pccted this awkward infirmity of theirs, am trembled, hst in spite of ali our efforts to tin contrary, that, like murder, it would out. Well out it is? caught, tried and convicted, they an called up before the black-capped judge to rc ceivo sentence. The emergency is desperate and as a last despairing chance, we would rug gest. as a leason whv sentence should i. \ hi passed against the criminals, that pos Tly ; law in optics might have a bearing on thec;isc viz : tlie one which states that the npptn'-anei of perplexity and confusion in objects, some times results from a defect of vision, as well a from the actual existence of such a slate c things. In the interest of mercy,.oh judge, lo this fact have its full weight. But then, again, have we not listened t< nappy auguries of the future benefits to conn to us from the study of Shakespeare, whis pored by an oracle of that Bard ? By one \vh< himself illustrates the advantages of that ant kindled studies? "Whence but from thcs< ; armories of controversial weapons came thosi ! telling shafts? Has he not hurled at our con I 4 fused head, bolts forged by such diverse arti i sans as Shakespeare, Paul, Coke, l>ickens anc llosea, (to say nothing of that favorite steel pointed one, about "sauce for the goose h sauce for the gamier," uliich smacks of tlx " complete" cook," and might, from the subject be related to "mother goose"); has lie not, w< | say, hiuled these missiles at our devoted hcac with an energy and power only to be comparec j to the exploits of bis namesake, on that mej movable March day, in Hampton Roads 1 | Henceforth be Shakespeare our rode mccum i True, cfur rhetoric has been rather "high flown" for his severe taste, our declamation off S6cn iseen~ nenrtire u?. - - w-i Q vi"; ,7 " r ' * 44 windy" and our obtuscncss sufficient for him f to suspend over our heads tho denunciation, launched against Israel. But Jthen the kind. K adieu. Let it bury in oblivion all that seemed harsh, and throw into bolder relief that goodness of heart which prompted the well-meant li advice and admonitions. Tlyj proprieties of ( ; public position (however humble) must not be *j violated. We can never speak our thanks as b wo would like to do. We will feci grateful, jr even if we cannot express it. i To return to tho oucsticn of the currency. ; We would remark, that how 4* Merrimac" came = -to imagine that we intended to drag him or | the class to which lie belongs, into association s i with extortioners, ilovpurcrs of widows and orv pbans, and oilier such ugly and unpopular - - ' --- ' uur eoiupreiiension. V\ c q fear that again lucre has been a confusion of f " ideas and persons essentially distinct" that s would not square with that canon of discrimi-? nation relating to the ''litiwkc antl tlje hand* O saw." For the purposes of our discussion, wc have divided all (Confederate) mankind, not as Charles Lamb does in one of his essays into debtors and creditors, but into those who rc1 eeive treasury notes in payment of debts and 1 those who refuse to do so. According to this 1 i division, Merrimao belongs to one class and his j course, as staled in his communications, identical with the one which we have all the time 1 L . I , advocated, which every man pursued until re- ; eently, which very few now deviate from and j ' which we contoud is the only right and patri- ! ' otic one. For, he tells us in his first commit- ; 1 nieatmn, that " I have never refused treasury ' . . , . . - I notes in payment, eituer in my private or any , 1 other capacity, hut hav received large sums, : and expect to receive such currency." And lie i ; has, he tolls us, aided the Government by loans i , of a liberal portion of his estate. J>y r.o ^ means would we place him in association with . i the Extortioners, Shy locks, &o. All honor? ^ i say wc, heartily and sincerely to conduct at j ) once liberal-minded, far-sighted" and patriotic, j I * Let his example he imitated by all, only in re- ' s | ceptioi* of.Treasury notes and our object in 1 . this discussion is accomplished. ^ i lint with an inconstancy between theory j i ... - t i . i ai u nj-iinr'i', w men lias not been at all ox- ! i . . . 1 P j plained, whilst Mcrrnnae (paitiotieallv ::s wo j 1 tliii.k! receives these notes in payment in largo I u snins, ami expects te continue to do so ; ami 11 whilst all hanks do the same, and are expected L. 1 to contimic their conduct in the future, cither 1 I to display his%skill in dialectics, whereby to 3 i make 41 the worse to appear the better r.rgu r 'meat;'or to fay the way "jor a change in this s hitherto general practice, we have as the con1 clu.-iou at whit li lie aims in his agreement, nothing less than this, viz: that treasury notes i are worth onlv twontv cents in the dollar, and I that there is no obligation legal, moral or patri- ! 1 j otic on the part of the creditor to receive them ^ j in satisfaction of his debt; that, in short, to J , : do so, is entirely one-sided in its effect?affords j c ; an undue advantage to unscrupulous and grn- j . geperous debtors and violates in every purlieu- j lar his favorite gastronomic maxim. Then the j . natural question arises, w.hy is the thing done? j b .\ ro we not justified in the conclusion without | x i going through the ingenious arguments and il- | ? ( lustrations adduced to establish a position so | i. entirely opposed to the practice of all who arc ' . interested in its truth or 'falsity (even of him s ! w ho maintains it) that there must lurk some j !.;Iacy in the steps by which it is reached? ^ Undoubtedly so, in the discussion, not of abstracting but of matters eminently practical. y And we entertain the opinion (which we have L> space only to allude to) that much of the fal. I lacv will he found involved in the assumption, ) ; that gold is the main and only standard of ] value wherewith to compare treasury notes.? 3 "\Ye consider this to be no fair test in the ex2 ccpfional and deranged circumstances of trade . and finance produced by a great war and a rhvid lilficl'afln Ac ' ? _ i_vmui.hul-u witn real esiato 1 ? \ stocks of different kinds and other property . (whose value is not enhanced hy real or sup5 posed scarcity), treasury notes display not one- i > half the depreciation as when compared with i , g?,d- ^ j In ordinary times, and in all timcsr hereto* 1 1 fore, individuals were willing to receive any 1 1 currency which is received hy the Banks, but ] . we now witness the anamoly of a currency re- . ] ccivcd by the Banks at par, and refused by in. i di\;idual? except at one fifth its nominal value* * , j In explanation of this curious fact we have an t intimation that thore is some peculiar relation f \ existing between the Banks and the Govern jnent which would make the refusal to receive | these notes "inflict incidental detriment" on 1 the cause. Would not the detriment spring I from the discredit and depreciation caused by | such refusal ? Does not this refusal by indi- I victuals inflict detriment similar in kind, and I only differing in degree to that wliich would ra ensue by the Banks refusing them ? If so, is not that conduct so far selfish and uupatriotic t , If this conclusion be incorrect we cannot im- $ ??ginv what there is (so far as this discussion goes) so difiicuit in the respective relations sustained by.individuals and by Banks to the Government that makes the conduct of one disas trous, and thc&amc conduct by the Other harmless unci innocent. All is mystery, perplexity and inconsistency, and Miat too, about a very plain matter, until we get hold of the elue (which we contend unravels this labyrinth) hinted at in "MerrimaoV* first article. There is uangyr repudiation, sealing and of refusal to pay interest promptly. The Banks are two patriotic to manifest any apprehensions of this kind, and to this weal- . tribute the reception by them of this currency. , But individuals .not occupying so prominent n place in the public view may evade this hazard , (with some little fuss and noise from impudent clam Orel's and ingenious debtors) by refusing this currency, but will they not have their rcwaul. Will not their specie debts ultimately $ be paid in Gold I Gold I Gold I Gold I ' Bright and yellow, hard and cold, Molten, graven, hammered and rollf'd? And is it-their fault ii" in the mean time the Government is embarrassed?receives incidental detriment by this conduct ? This is one of w the questions propounded to us. and which we leave, without discussing, to he answered by every oiie lor tnmseii. In reply to, another question we will state* that we deprecate this discussion as necessarily involving in it a calculation of the chances of repudiation, sealing, & which dishonesty we trust and believe cannot and will not he com- I mitted by our Government. Wo further dep. ? locate it because it also involves the contemplation o! a state of public morals (we hope never actually to exist) in which a "selfish, defaulting, repudiating, faithless, swindling constituency'' will have a Government that exactly rrprcsenth them, when, of course, our experiment in self government must fail. And finally * we deprecate it on account of the pretexts which "McrrimaeV' argument will a fiord xlo some to alter their hitherto public spirited course, and cause them to act in a manner very' I . different from his own conduct. I in conclusion, we would state, that if "Mer- ; limac" 11us aimed to prove the abstract prop osition, that a promise to pay a dollar is not a dollar, "no more, no less," and that no man docs any harm in asserting* and vindicating this truth, then there is little or no material difference of opinion between us. But whether it is a dollar or not, is it not our <jnty?docs not patriotism and public spirit dictate that ivc should receive it c.ft such, and that we should give up \olcntarilv, (not by legislative enaclncnt) our legal right to demand gold and silver ? If not, why do the Banks do so, and the majority of individuals?" Merrimac" among them. It is the dcirimcd to the cause which would ensue from its refusal that make far-sigh ted and sagacious men receive this currency; and we consider those who arc willing to inilict detriment for the selfish purpose of receiving their legal gold and silver as clearly unpatriotic. True, it may 'involve a sacrifice as. far as the currency is depreciate (nothing like eighty cents in the dollar, however,) but what of that? Who has not made sacrifices, who will not have to make further sacrfices in the future to maintain our liberty and vindicate our indipcndence? * ' Corn tor the Army. A very hrgent appeal is made by the government. to the planters of Kershaw District, for promptness in semling?their surplus pupply of corn, fodder, peas, &c., to the nearest depot from their respective plantations. Bags may be secured by calling at the South Carolina Freight Depot. Hams and Shoulders Fink hams aud siioulo'krs?also Brown Sugar, Rice and Salt, just received and i>r sale at the " Old Cornor. May ft k. W. bonney ?