Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1846-11-07
From The Baltimore Patriot.

lhe United States Loan--1he Treasury
Notes made a Currency The Secretary OF tho
Treasury has concocted another scheme TO raise
money, and that is by opening shops 70, tho
sale Of Treasury Notes, in sums to suit custo.
mers who have more than thousand dollars.
Mr.. Walker thus announces, in the last Wash.
lnnglon Union, the opening Of the Treasury No.s
shops and the manner in which he intends 10
conduct the sales:
TREASURY DEPARTMENT, Oct. %, 1916.
This department will issue treasury notes 10
the amount OF three millions OF dollars, bearing
an interest Of five and two. ffths per cent. Der
annum, payable 10 the order OF persons or cor.
porations making deposits therefor in specie in
sums not less than one thousand dollars, with
either the treasurer Of the United States assist.
ant treasurer at Boston, New York, Charleston,
or 81. Louis, or treasurers Of the min, q, PhiIa.
depha or New Orleans.
The notes will bear even date with The date
Of deposit.
r. J. WALKER,
Secretary OF the Treasury.
And the Union officially explains that tho
New York banks having declined to buy The
treasury notes at less than six per cent, but tina,
several propositions for loans on terms less than
six, and approaching nearly to five end two 6fbs
per cent, having been made by individuals, and
declined by the Secretary, i. is now, we p1e.
sumo. seeing he could do no better, determined
upon retailing the notes, and TO fix the nteres,
on them at FIVE and two ffhs per cent. A,
Involvement for purchasers it is announced tina,
these notes. so sold, twill be receivable for pub
lie dues, both in the land office and custom
house, as we'll before as after maturity, and
must be regarded in the light, for many uses. OF
specie bearing an interest; and at the rate now
proposed, We cannot doubt, (adds the Union,
that there will be large demand for these
notes." '"'''
Here We have It at last-a Government nam,
Currency, irredeemable in specie, but receivable
IN paying debts to the Government. The notes
are 10 pass from hand to band-all the restric.
lions which the Secretary heretofore pu, upon
heIr transfer and their payment, are abolished
me endorsement OF the party buying them be-.
ng all that is required to change their ownership.
we cannot say whether the sale Of these notes
will be as large as Mr.. Walker expects: bnt
we rather suspect that the peddng them on, in
ne manner he proposes, will not give them a
character in the market much above that Of
'ther irredeemable shinplasters, and that tba
'ales will not be quite so active as that of "we,
Gods saved from some wreck, and announced
TO be sold at runous prices.'
And this is the work OF The Sub. Treasp,v
ard'm money, Paper,haling administration! Wbsn
dr' Polk came into office we were prom;,ed
hat we should have nothing but specie. Wa
et nothing but rags-not bank rags, redeen,,-
lie in coin-but shinplasters, intended for ci,cn.
a'Ion' and Of character similar 10 those issuea
y individuals in the times of the Van BnTsn
experiments on the currency, which were ere.
elvaole in the payment for goods purchased a,
no shop OF the undersigned
At Montreal IN tho 1eu