The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-26

engravers Immediately, and to-day exact copies
of them appear in the Herald. They will aid
our readers considerably in attaining correct
knowledge of those brilliant engagements
They speak for themselves.
The Finances OF the General Government
Probable Policy Of the Treasury Depart
mcnt.
In about six weeks, the representative branches
of the general government Will convene a.
Washington, for an indefinite period, tor the
purpose of taking into consideration the affairs
OF the nation, and devsing ways and means to
regulate the affairs of Mexico; to carry on the
war, Unnecessary, vigorously, or to establish
form of government in that country the best cal
culated TO bring about an orderly and prosperous
state of things, out of the confusion and chaos
now existing In that section of the world. The
first and most important movement to be made in
relation to this matter, is the raising of funds to
meet all the extraordinary expenditures of the
government This must be done by new loan,
to whatever extent the exigencies of the time
require.
There is no doubt but that proposals for six
per centloan, for twenty thirty millions of dol
lars,woud at once be taken, upon terms as favor
able as the last loan, and we have no doubt
but that bids tor much larger amount
than that required Immediately, would be Of.
fered. The ability of the government to raise
money Is unlimited. The sonly question at
present unsettled is, in what way can it
be raised upon the most favorable terms, and
the vacuum made by the withdrawal of
large amount of capital from different employ
ments, filled to the best advantage, and to adj
vance the best interests,of the country? The
issue of Treasury notes, so far, has worked we'll,
and we know of no way of raising such large
amounts of money, better than the last adopted
by the Secretary of the Treasury. That system
has been practically demonstrated, and not found
wanting In any respect, 50 far availability is
concerned; and we can suggest only one i'm
provement, and that is, reduction in the demon
ination of these Treasury notes, which would
convert them into more available circulating
medium, and give the country currency other
than based upon gold and silver.
The Treasury notes of the denomination
authorised by the last act, cannot go be-
low par in the market, in consequence of |
the demand that must exist for them to |
carry on the commerce of the country, |
In regulating exchanges between different |
sections ofthe Union, for payment into the GUS |
tom house for duties, and for all payments to the
government, where specie would otherwise be |
required. These uses for these notes, will |
always keep them at par, or at slight premium;
but if the denominations were reduced, if there
were in circulation fifties and hundreds, instead
OF five hundreds, how much more convenient |
for all the purposes of business and how much
more advantageous to the government in raising
money upon them We cannot conceive what
objections can be raised TO such a financial sys-
TEN.
These, denominations of Treasury notes cannot
be such stumbling block as many hard monly
advocates would make it appear. There would
never be wish on the part of the holders of these
notes to cnnsra-s IL - ;~.~ --ace and even in the
event of such thing happening, it could always
be done for at least the face of them. They would
be much better than any bank bill for daily use
in trade; they would be better secured than any
bank bill in the country, and they would be-
come 80 generally circulated, that many of
them would never be seen again-never be pre-
sented for payment. They would be so much
sought for, that a nominal rate of interest would
suffice, and large amount of money could be
raised in this way, at rate of interest full two
per cent less than in any other way