Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1842-01-06

The following remarks upon the National Ex-
chequer, we copy from the Boston Atlas The
remarks, under the present aspect OF affairs, are
worthy of consideration.
The National Exchequer.
| We think it will be conceded by all Intelligent
men who understand the situation OF monetary af
fairs at this time, that, if Bank were to be char
Iarad present session of Cnnpress,the STOCK
would not be taken up. There is not sufficient
capital in position which such plan Of invest
mcnt would command
Waving that objection, however, and snppos-
ing the stock wonld find subscribers, let US look
little at the probable effect For yenr,at least
it would doubtless be unavorable. The necessity
of getting together large a capital, and thereby
for some months Withdrawing it from the business
purposes in which it is now so advantageously
employed, would necessarily produce severe
pressure all over the country-depressing bust
ness. producing failures, and creating more dis
tress than we have seen since 1537. Then II
would take number of months, after the Bank
was fairly under way, to return the capital TO It's
accustomed uses and to restore order. We do
not mean to say that Bank is not h best plan,
on the whole, and under ordinary circumstances
but that. in these disjonted times, and IN the
present financial difficulty of the country, it is,
if not utterly impracticabic, at least inexpedlent.
VIII not the Exchcquer answer the most ln-
portant purposes of u Bank? 1t will add 10
millions to the currency, in species OF paper
that will answer all the purposes OF Bank notes,
and command entire confidence from the Saint
Crox to the Mississippi. THIS currency will, to
to the extent OF, probably, two or three millions
of dollars If not mo.e, take the place of Gold,
which every traveller finds it necessary to
provide himself witt--and cause the return OF so
much specie TO the vaults of the Banks, thereby
increasing the strength Of those institutions, and
adding to their ability to serve the public. So
far, we think, the Exchequer will do better SER
vice than Bank-for it would take the latter
two or three years to obtain sound circulation
of Is millions, and the former can command It IN
a few months viii it not, therefore, do all that
that can be done toward an immediate restoration
of sound and uniform currency-wlthout any
DyeliminayV disturbance and distress-in much
also, instead of producing great present evil for
the sake of ultimate good, come at once to the aid
of the business community These, it seems to
us, are important considerations, which can hard
ly be over estimated.
As to the other great point of regulating the
Exchanges. This agency will not furnish a capi-
tai fer men to borrow and trade upon, it is true
We begin to entertain doubts whether such a
facility would be for the general good at the pres
emit time 1t will be well, perhaps, for the ma
ton and for individuals, to let 1912 be a gear of
settlement-The capacity of the Exchequer to
regulate the Exchanges will be very great-much
greater, we apprehend, than is generally sup
posed Confined to thirty day bills as the long
est, the average will probably not exceed fifteen
days-and ten millions employed in the collec-
ton of such short paper will turn over some
200 millions in year, The one half of that OPP
Grafton will make it a sufficient Regulator,