The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-10-19

TREASURY NoTEs.-We annex from the Madi-
sonian an article on the new issue Of Treasury
Notes, which in some sort may be considered
cfficia,-
Treasury NoTEs.-The Richmond Enquirer has
some comments on the subject OF rumor VIII ch il
takssiroma Wing paper respecting supposed con-
'empated issue Of Treasury notes Ii quotes from
n paper OF The true Be nton stamp some OF lie stale
repettions OF the Id parry slang about Government
paper. II treats Mr. Jefiersoh's very deliberate
very carefully aud repeatedly expressed opinions as
"unguarded," and not entitled 10 consideration II
s wonderful with what facility the authority OF The
great apostle ef Democracy can be quoted one day,
and deiided the next, by his pro essed disciples.
As we understand, The act OF Congress OF March
3, lSl3, provides that when any OF the Treasury
notes then outstanding shall he redeemed, at any
time before the 1st OF July, 1874, the Secretary OF
the Treasury "may cause other notes 10 the same
amount 10 be issued IN place Of such ms may be re-
deemed under the Limitations and other provisions
It the respe Give acts by Inch said notes ori.
gIn.lly auihorzed and issued" I'll e limitations
u1dtr winch the outstanding notes were issued are
hat the. should not be- OF denomination less than
fity dollars. and should bear interest at rate not
cXceedlpg six per cent On the Bird March, 1913
there were outstsD IDg Treasury notes TO The
amount OF neatly twelve millions OF dollars Pur
suint 10 the authority gwen by another seton ot
ne act of lS43, loan Ut seven millions OF dollars
vas obainee at per cent and small premium,
with which the same amount OF Treasury notes
bearing SIX per cent Interest have been or will be
rrOeemt o. rs Inc remaining DVe fUlIllouS oil notes
bear interest OF six per cent very desirable
10 call them in, that The country might, soon
practicable have the bene fl OF the presen red iced
value of money Accordingly, notice has been
ven by which interest ceased on nearly one half
1T The amount the 3lst August last, and will
cease on the whole amount as the respective issues
becomc due.
But, ss :" the wants Of the public service" 10 the
language at the ucl ct Congress, require from TIME
10 tine the issue OF notes Ia supply the place II
hose thus redeemed. The inqu ~ btcaDe necessary,
what DE- NOMINATIONS woul1 b. most convenient tor
ne public service, and what rate ct interest could
re adopted " h Ch would save the most 10 the cOuD
Try, aud yet not ob-ruct the receipt OF the notes by
he public creditors
For some years the government has been exposed
10 great card, delay, and expense, in the trans
portaton of specie 10 the remote points OF the Uuon
where Its dIsburse ments are made. All these could
be obvated by the employment OF Treasury notes
os a low denomination. which could be RENTED
with perfect safety by The ordinary means TO the
discussing agents. In fact, applications Tor such
notes by those agents have been frequent. Accord
ngly has been determined tor the present to issue
the m of the denomination of fifty dollars
IL was.a matter OF Some importance 10 save the
interest upon five millions OF dollars. Mr. Wood
bury, while Secretary had issued notes, some
bearing two mills interest, and others two per cent
They answered the main purpose of facilitating the
operations OF the Treasury, but in the then cond
lion OF the money market, the rate of interest was
not sufficient to PREVENT the notes being immediate