Several weeks ago we attempted to show the necessity of some
action on the part of our Legislature to place state warrants (on War and
Defence Fund), on a proper and honest footing.
These warrants being then hawked around the State at twenty-five per cent.
discount. We are glad to learn by a
gentleman direct from Des Moines that the passage of a certain bill, this or
next week, will have the effect to bring the price of the State warrants up to
par or nearly so. We expect to be able
to quote our war fund State warrants next week at ninety-five cents. They are now being bought at Des Moines for
ninety cents. There has been no good
reason why they should not have brought this figure any time.
The legislature has passed a bill by which the State assumes the collection of the
Government tax in Iowa. It is now
proposed to pass a bill by which the State Warrants will be taken for taxes, or
for the Government tax – as the Government owes the State more than the amount
of war fund State warrants issued. By
this means these warrants are at once given a practical value or use, making them worth so much money for a specific purpose, and a
purpose for which there must soon be some provision made by tax payers.
We do not know that there is any sale for these warrants in
this city at the present time. But we
advise holders not to sacrifice them – the same advice we gave months
ago. The warrants of the state of Iowa,
and bearing eight per cent. interest, ought never to be sacrificed for a figure
much below par.
–
Published in The Davenport Daily Gazette, Davenport, Iowa, Tuesday Morning,
February 4, 1862, p. 2
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