The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-10-08

the hills and the sky that il inspired even our friend
gift Of song this morning The second Assistant Post
Master General makes pretensions to compete with
the Bsvdere Apollo in the line Of beauty, but he sings
The Rev. Mr. sprole is having portico and cupola
added TO his church AZ street. The columns Of the
portco of brick pastered to represent granite and
the dome Of the cupola being covered with tin lie is
determined that the church Of the administration shall
take the shine off" all its auxilaries IN Washington
The fevers and fever and agues rapidly abatng
this parish assured from the number of the
Of the convaescent that we meet in our daily
Gen. Brown, of Tennessee. and lady. still continue
their soJoSrn a%0ns u; at the nor old
No important news from the seat of war; though
thing Of great moment is expected by every mail from
And, with the impression that we have given enough
for one sitting please convey to your readers the undi-
THs DocroR.
wAsHlroror Oct. 5, 1886.
additional News from Merieo.
Lieut. O'Brien Of the Washington volunteers opera.
ting WITH the main army of Gen. Taylor arrived in this
city from the seat of war, this morning He left Camar
60 on the 2ad September, having given up his commits
sion from spell Of the fever and under the impression
that the parties in the war about to enter into
the receipt Of the news Of the ssturn Of santa Anna
consequently resigned Lieut. O'Brien having since
learned that the war s to be prosecuted with renewed
vgor is DESTROYS of returning forthwith He says that
Gen Taylor did not expect to meet enemy in Monte
rey, but that the town would be abandoned on his
be induced against his own will to make stand at Sal.
tillo. the next town in the mountains The army buy
nothing Of the enemy but milk and beef the Mexicans
ave cents pound for beef It's Observed that IN he
children are left behind. From iii. it ]: supposed
Is collected in advance of the army. large mum.
Der OF the volunteers were on the sick list. and many
and men let their boards grow the trouble
shaving and Rssvsn the Lips from being biistered
We obliged TO Lieut.. w. d. Porter Of the Navy,
for the following extract Of letter received by him this
morning from acaptain Of the volunteers under General
a Z" CAMP CAMARoo, MEXICO, Aug 80, 1916
I've have marched here, It's miles, foot, from Blu
rita through the enemy's own country, without moscs
Camargo is situated the right side of the river,
river is deep and beautiful one 400 yards wide and ex
cellent water when settled This is rich level beau
lul country the finest for sugar cotton corn and to-
specs, especially for health and if American hands,
would soon bring 5000 per acre"
about the same in substance the intelligence received
from other sources heretofore The prospect Of fight
the campaign and an opinion Is expressed that the
war might be closed in two months, i the department
ders taken down. wi therefore, be the very thing for
| the Army. Forward, march
Speaking Of the army, in late letter, we styled Capt
Ruggles, Of the regulars in Mexico, lieutenant, and
also Captain Todd, late of the Texan Navy. With the
army and navy, rank is matter Of sufficient importance
1rcasury NoIcs.
New ORLrArs, Sept IS, 1916.
JAMES GonDoN BENNETT, Esq, New York.
DEAR Sin lin the money article which appeared in
have cause and
tons for securities steady but they rule
two SINCE This depreciation has produced
cpally by the doubt and uncertainty that still exist
direct loan to large amount being required to carry on
the operations Of the country The issue of treasury
notes does not as yet s work very well They are at
it with the greatest dculty they be put into cir.
cuation at par. II is more than two months since
an issue of ten millions Of these notes authorized
and only about one million has been issued This, in
connection 9TH the fact that the Treasury Department
finds 1t impossible to meet the demands upon it, is good
evidence that something must be done to remedy
the evils Of the existing financial system Of the
1.-THE law authorizing the issue of ten millions leaves
it optional with the President to raise that amount of
by issuing notes. bearing interest at the
or any portion of that sum. II is the opinion of
shrewdest fnanciers that treasury only
of the ten millions viii be issued, and that direct loan
will be raised for tho balance. There no doubt but
that loan could be very easily effected
universal opinion among capitalists that the finances Of
the country would become settled upon better basis,
issue q treasury notes which would become dsp,ecs
ted in value tAe moment they made their appearance
The government cannot put out these notes to the
full amount authorised unless they kept par in
the market The greater the depreciation the greater the
difficulty inl getting them into circulation. We
Let u.s. in the language of the illustrious Madison
anime the subject isrther and see if different view
The depreciation Of treasury notes was not owing to
any want OF faith in the government to the scarcity
Of money, to any defect in the system. The sscur
ties offered in the market able in twelve months
bearing only nominal interest Of one mill per centum
per annum; consequently the discount required was in
leu OF very moderate interest for one year. and not
It true that these securities bore on their face the
words receivable in payment Of all public Dues but
whether receivable before or after maturity aid not ap
maturity. ~. : ~
Again. was not known here that any law authorised
them to be received, and II not, Secretary Of
The Treasury new administration might in country
where we are blessed with the law only master
feel bound to wait for amendment TO the law before
they carry into effect the Of their predecessor
which, however well intended, may have wanted the
The collector Of the customs for this port at first hss
taed about receiving them, and took day to consder
The banks refused 10 receive them and the needy ced
tors who had been long waiting for their money
impatient to realise something to meet their own
circumstances the great discount you mention was sub
mitted to for day or two.
and Others to explain this subject and to convince the
public that the treasury notes would be Immediately
ceyed IN Of all public dues and for lands sold,
and that they would either be funded with stock
ing six per cent per interest or with specie or s
equivalent on presentation the treasury of the United
states, az well before AZ alter maturity.
The effect OF these considerations was 10 cause the
price improve In the Market insomuch that tho dis.
count had been reduced to IL N per cent before
the receipt Of the Washington Union Containing the
Treasury Circular, which Is in words and figures follow.
| ing -
TREASURY DEPARTMENT, Sept IL, 1896
All treasury notes as well before as after maturity
redeemabe here at the Treasury Of the United States
specie In sight drafts Of the Treasurer OF the United
States equivalent to specie and payable In specie drawn
at his option upon Baltimore Philadelphia New York,
Boston, the public repositories at such places may
| be mutually agreed upon. (signed)
r. J. WALKER, Secretary of the Treasury.
The publication of this circular, together with the in
formation that the deposit banks at Phsdephia and New
York receiving them in deposit Of par had the e
feet put them up within half of per cent OF par
at which the bank holding the government funds
viz Canal and Banking Company, and our large ex-
change operators have taken large amounts within the
last three days. to be used Northern Exchanges, to
meet the checks which they have been selling at or