American telegraph. [volume] (Washington [D.C.]) 1851-1851, 1851-03-29
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coMoTryE, we understand, made a preliminary
trial the day before yesterday, on our railroad,
for the purpose of testing the best mode of at
taching the battery, which seems to be a diff
cult point, owing to the jostling and oscillations
of the locomotive, 1t was run out over two
miles, and the best speed ON straight track
was ten miles an hour The locomotive weighs
ten and a half tons, and has fye-feet drivers,
with two-feet stroke 1t looks exactly like a
passenger car.--Ndt INT, Of this morning.
MEssRs. EDITORS: / perceive, by to-day's
paper, that some rather harsh remarks Gas
deem thcm) are made relative to the circulation
of small notes and believe not from the great
mass or business portion of the community, for
they have felt for months past the greatest in
convenience from the scarcity of smaller change
than one dollar. And this circumstance led the
citizens, as am informed, to petition the house
of Selden, Withers & Co. to issue notes of a
less denomination than one dollar. They'having
declined, some others, perfectly responsible,
having concluded to issue said notes, seem to
have brought down the ire of another portion of
the community upon them, who declare these
notes to be o nuisance. If those who denounce
withs silver change, am firmly Of the opinion that
they will see no more paper halves and quarters.
But it must be borne In mind that merchants
have to pay from two and half to three per
cent. to obtain silver, or do less business and
some portion of the community would rather
that state of things would continue to exist be-
cause they arc benefited thereby; and no mar
vel that they do not approve of small notes
The truth of the matter is, that experience has
taught those who have paid any attention to the
matter, that money willregulate itself. If there
is an abundance Of silver small notes will not
be circulated; but if that is not abundant, some
thing else viii fill the vacuum.
The great hue and cry about gold some years
ago led the banks Of our city and those of other
cities to suspend specie payments, (and they
were as sound after as before y yet, during
that period, no one Of our citizens, as far as
have known, was loser to the amount of one
cent. And notwithstanding Congress passed a
law that no corporation should issue q smaller
denomination than ten dollars, yet have been
informed that some of them were the first to
break it, by passing one dollar notes. And
what is most singular, the very persons who
were instrumental in making the law referred
to, recognised the issue of small notes in the
States and Territories where they lived. Many
mems minds have changed on that subject; and
it is no more reprehensible in any individual or
company to issue halves and quarters than one
dollar notes. 1t would have been well, perhaps,
if the Grand Jury had brought the subject up,
and tried the corporation officers Of Georgetown
and Alexandria, who did, after the passage Of
the law of Congress referred to, issue one dollar
notes. would say, in conclusion, that what
can't be cured should be endured; either pro-
vide your silver, or take small notes. For my
self prefer silver as change, but have no OBJ
lection to take responsible paper when cannot
obtain it. s. j. r.
MARCH %, 1851.