CONFEDERATE NOTES LOSE VALUE Fine content war-date A.D.S. "J. T.", 3pp. 4to., Columbia, SC, June 29, 1863. In part: "...Whatever tends to discredit the Treasury notes issued prior to 1st of Dec. 1862, contributes to their withdrawal from circulation and therefore advances the object of the government in limiting their fundability. The means resorted to by the government...are questionable...The intrinsic value of these notes does not depend upon their being fundable but upon their being received for dues to this government and upon the certainty of their ultimate redemption. After the 1st of August they will be upon the same footing as the new issue of small note which are not fundable...Dealers in money are very naturally disappointed in their expectation of huge interest from the government during the war...the people generally are not moved on this subject...The most of our citizens have confidence in the credit of the government and it would be unfortunate if that confidence were impaired by any action of the separate states adverse to the circulation of the non-fundable notes...". Very slight offsetting, else very good.