The New York herald., 1845-08-08

the week ending August I'd this and last have been
as follows
w... .,,,.,u a,n " Wr,SsnS ;aas RAnHoA1; ,s,,
FF9s,sRsess F1ssbs s ss%s ass Sss .s lsss ~
sisls7 1883 GA
The decrease has been in the passenger receipts.
The receipts at the Boston Custom House for the fiscal
year ending June 80, s44, $5O37979 la, and for
the year ending June s0 ls45 So % showing
increase in the year just closed OF $34797 co. The
for July this year. S7565OO against $4,000
for the corresponding month last year being increase
Of S44500
The value of foreign merchandise imported into Bos
ton for the quarter ending June So ls45 was
of which SA5iAs7 came in American vessels and s9l9
352 in foreign vessels The value OF exports for the
same period was S2ll2662, of which s4i6,22O were in
foreign merchandise, and 81 600 l42 in domestic mer
chandise.
We annex comparative statement OF the business OH
the Philadelphia and Reading Railroad during week in
lsl3 IA and AS -
w.., Pr rlApElsnra PEI AND RrAgIso RAhnoAp 20.
Coal uansport;i tons 1886 s.sSa s5iss
The increase in the receipts of the week this yearwas
about hundred and twenty-five per cent and in coal
transported, one hundred and fifty per cent
1t has been announced that the policy Of the present
administration in relation to the government finances,
will be the establishment rather the re.esabshment
Of the subTreasury specie system. On the 4th of
July, ls4O under the administration of Mr. Van Buren,
the Independent Treasury act approved and the
18th OF August l84l under the administration of Mr.
Tyler it repealed having been in operation but
year, month and nine days No other law pass
ed upon the repeal of this providing for the safe keeping
of the public moneys and the deposes therefore
made in the State banks upon the principle pre-
veus to the passage of the Independent Treasury
he bauk ctou bocb IN ,;r
vera attempts have been made by Congress provide
some other method of keeping the public moneys but
the repeated veoes of President Tyler prevented the
tablshmen OF any plan and the old has been retain
ed Tor the want of better During the session OF the
congress that repealed the Independent Treasury act
the President recommended the adoption of fiscal
rangement under the control of board of excheauer
The plan proposed met with little favor During that
session two bank bills were vetoed and the exchequer
plan was stlhorn. This the first session under
Mr. Tylers administration and the several attempts then
made to provide system for the safe keeping and dis
bursement of the public moneys having failed no other
plans proposed until the session of 1884, when the
Independent Treasury act of ls40 which had been in
operation little more than year, was revived passed
the House Of Representatives and rested upon the table
OF that body We have doubt but that the bill as
passed the House the 2ls day of Dec 1914 by vote
OF l2S yeas to Is nays will be taken up immediately a
ter the convention Of the approaching Congress- mass the
House without alteration and be again to the Sen.
ate for concurrence Every efoat will be made by the
President and his cabinet to carry it through and into
operation The organ of the government at Washing
ton says that among the resolutions adopted by the
Baltimore Convention was in favor Of the Indepen.
dent Treasury These resolutions have ever been re.
garded by the President as indicating the policy by
which his admnist alton should be governed The In
dependent Treasury was sustained by the of the
PRESIDENT and OF the Secretary of the Treasury and
further experience has only confirmed the views then
taken by both The specie policy will be sustained in
all IT'S ygor the coinage will be ncreased the foreign
gold coin, which does circulate will be converted m
rapidly as possible into the half and quarter eagle: and
all other proper means will be usei ncludng the re
commendation Of the Independent Treasury to secure
10 the people an abundant supply Of the constitutional
currency"
Inc organization of the Treasury under the provisions
OF the pi as last passed the House of
requires the agency Of individuals prescrbes and rer
es uutes 10 De performed by the proper officers and
agents OF the government const.uonay appointed and
legally responsible These persons are required to take
Tue ordinary oahs OF Office to give bonds sufficient
security for the faithful performance of their dutv The
act provides Tor the receipt of the money collected
INTO the Treasury Of the United States and secures its
safe custody until it shall be drawn out in the form de-
ssnaed py the constitution The trcasurers and other
proper officers OF the government appointed and respon
sole are TO have actual possession of the public money,
ana are TO De strictly accountable for its forthcoming
Hnen legally and regularly demanded. They are
charged Keep tue money actually in their possession
IN the treasury and not to permit any purpose what.
ever one cent to be drawn theIerom but in
with appropriations made by law and regular state.
ment and account Of the receipts and expenditures of all
puohc money shall be published from time to time
None Oh me pubic money according the provisions Of
' p is 10 be deposited with any banking institution
whateVer; and 1t provides eventually the collection
the entire revenue in gold and silver These provi
SONS ehect complete separation of the government
from al banking institutions. We have given above
some OF the requirements Of the independent treasury
system according 10 the bill that passed the Uouse s
representatives. during the last session of Coneress
which WILL without doubt como I'M aoe;n in -, o;;,
shape There is vast difference between tho nrovsors
ei that act aud the in operation Accord;no n
e independent treasury act the revenues of the govern
e CANNOT oc dIawn from the places of deposit for onv
'e' P"iPose Una" 10 pay appropriations made by law:
f's.'H, " oeVice' or Tor any purpose whaso.
ever can single dollar be drawn from the roasnrv c
t"f IL mas been once deposited there unless il be ,r
some payment on account of the government Tho az
sing system IS Just the reverse of the ono nroood
inc deposits in ihe State banks are used 10 advance 49,
speculative movement Of the day. ana are loaned 70 tho
commercial classes, the same as anv otbar ro. -,
IN oaes' me deposits under the present system rather
su"m'e uaoe ana commerce, and tend in n meat ,naa
sure 10 produce an imitation in tho banking movemcut
ana IN the currency generally The government demo-
$40 III 'h's CITY are pretty equally distributed among six
banks these banks make loans these deposits close
~ 70 The amount to merchants and speculators ana an
impetus Is thus given to business gcseraly which as
increases, creates additional demand ior money This
demand IS ielt by all the other banks discounts are
made to supply the additional wants, and general es
panson takes place. In the midst of this imitation the
government draws upon the repositories FOR a large part
oil the doposs an immeaiate cnnlractnn talna rlace