| From the Memphis Appeal |
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| June 11, 1861 |
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| Important Railroad Action |
| The presidents of most of the
southern railroad held a convention at Chattanooga on the ?th inst., at
which much important action was taken. Among other things the roads
represented unanimously agreed to receive in payment of all
freight and travel over their roads the Treasury notes of the
Confederate States. |
| With the Vicksburg Whig,
we regard this as eminently patriotic on the part of the railroads. It
must be a powerful support to the government of the Confederate States,
to find a body of capital thus representing over two hundred millions of
dollars invested in railroads, whose gross receipts we have heard
estimated by those capable of judging, at not less than twenty-five
millions of dollars per annum, thus, as it were, put at the service of
the Government. The effect of this generous and noble action of the
railroad companies, must be to create an immediate demand for Treasury
notes as a medium of circulation. Received at par in all parts of the
Confederate States in payment of all freight and passenger travel, to an
extent, as stated, of millions of dollars per annum, they must be sought
for and kept in daily use as an unfluctuating standard of value
throughout the whole country. |
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