New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-01-21

nj
ishle soEress tz much ineonEesnee nd e1neHEssnsni
tss re.- ed fora the e1sston ErsExI1s- - Cougres
begey1 say vhst reef sal b eT,sn3sa I'D Toe sab
ee. y s1hsnif.ed % t8eI con- aSrsfi1n-
The lncorvenerce arsrg from The scarcity q syt, -1-
are sui conroes and % s1ch 81 eIsr' - CAD. od'y 9T
,oure brsstiye action ts remedy tie evil Whether tse
gold sr1se- from TIE coE-lu4d henTy ifz1 II re sE,
srd ia ccnenent 6ep-sciesed Vaue, foz1 ses a7d
aDusus demand Europe so1 sly-T. from t calss
combined. " NOT very a'e.a ds5ss az Prese1t tr
sss r. ,he; or b0,h oftese osasss, there j. - a
beire removed - e 70 create any redscon toe yae o.
oliver
IT, s.i believe = Se fact IN. assrsDss IN ne rsis'iv-
vsIe 81 The meals from t1e inDerse AID .
e.ess sspyly Of Pcd which bas oesB furnished if9 Ca
vrnis aid A1stsIis, tere can - bar Lite dosa- s1cn
aiterenee VII osntnae % ine-esse - .hs.s - 20 P'a
Indication hsf there VII Be rcdnced S17py f'n to-
,o1roes bt on The eofrtry every prospect o. I ia
Their increase.
circulation ali the slvrr corn Of fell weigh aud wat htfe
remains in to- sHos Of tie community consst Principally
in tie worn pieces Of Spanish oOusss Of ts fractional
Isrfs Of collar al 81 which Of hight weight, and
many OF tea ten 70 twenty per cent below taer nominal
..e 20 rerey for hs sres existing gT bat tie sdop-
ton II the principle eInbrzcsd IA TIE h Ech plsec the
conan Of such reauced weight - vii allow 4 20 cir
ouiste with the goe ooInsss Of sssbsaed weight and
Gnenefs.
The yf0poel silver IL hat con " not With
violation Of contracts b made legal tender i9 TIE
payusut Of ,ebs and that cold wond thercfr. harseF
bs he ou7 efa tender Il = Ue tst heretofore the as
Of the United >tsres have recognized the Of either
metal ega tender, ard = wss II the option Of the
creditor @ select which he Vo1d receive thfre would Be
very seTeus objection 20 changing either the weight
st@SeaTd 1neHsss q any portion Of the com But th
no: fact Wh the debtor ssy With which
deserpton II com 3. Will pay hs debt and the uatar
ana nsvitsbe corseGueEess ~ the premium T1cs sTer
be1TE have been 10 esabsh. practically, fod a. ,s
only legal tender Nor any less equitable objection
BE- advanced continuing gold legal tende- = no.
proposed 20 reduce eiihcr the weight OF ie tn OF that
DESCRIPTION OF coin fhstevcy creditor will eontuls %
receive precisely the quantity Of gold Tor any
nm the tine he may hsye made his contract. sor
does the present. future 1creafed cereaf On N the
yrlue OF sold orn any jest asint It's eontn
ned ., legal leader Z. is present. and tneness for
such depreciation IN s actual value 4 not rcat
regards slver has been progressing gradually fog
sn6 a that be zad r. thai the deprecs
ton Is more fspd at this time formerly and Il but
natural result Of the uncertainty and want Of stability in
L. tie present state Of things Is connected with this NIB
the public service tat als1 the and
yenence Of the entire community reqnrc that some meas
rubject Therefore respectfully bu earnestly recemmsnd
ed 20 the prompt attention of COnErrss
would again call the attention Of Congress, to the sub
Government and dispensing with the present bv fund
which h maintained az annual exper Of ron $3.50 900
500 eco which might be saved ineres, BY the spp
cation Of that fund the redemption Of pubic debt be
ndts the advantages 10 the bus community and
general trade OF the country by throwing the amount
Of that fund into circulation Of keeping couaay
dead capital IN the vaults OF the Mint.
The Of the bulon fund during the lat year has
been nearly e70 Gee and II has been applied the im
mediate redemption Of mint certificates the de-
POETS Of gold dust assyed and their value aeansd
which has generally been IN from twenty four 70 forty ezt
hours after such deposits made and the bullion flnd
then made good so such Essayed gold could Be
b. worked into coin 70 Be employed ia the redemp
tioB Of other certificates.
The plan which the Department would recommend would
be- 70 issue certificates under the authority Of Congress -
be duly registered and signed the Treasury the need
nl amount ak seven millions Of dollars IA Of
sloo $500 sltoe 5000 and $1,000 each payable th-
order Of the Treasurer OF The Mint 10 be distributed IN due
proportions 10 The Mint and ts rsscctve brAaohs and
soon sssny deposit Of gold bullion sssayed and is value
ffof at.n
certificates except the fractional part Of hundred dol
lars, which would always be psd IN coin. These ccrtiG
oies being receivable payment Of dues 20 the United
States would ~ al times command their full par value and
would promptly and obeerfuy he received deposit
otsh by the banks aud held by them specie capital until
their cuomsn required them for the payment Of daes
lands. They would sccnmul5fe principally 81 the crest
InaTs Of commerce in the Union and could be transmitted
by mail by the different receiving officers ~ such points
the Treasury might direct avoiding al the ri ard expense
winch attends the transfer OF public funds IN specie
from points where It collected and not required for pub
As these oericstes were paid in the large Commercial
sesports the gold coined could be such
points fon the Mint the braneh which may have issued
The certificates snd the latter would then be returned
Mint is branch for the purpose Of being again issued 20
new deposors The expense OF transmitting g5d coin 10
The points where u might be required IN order redeem
the certificates which had been received by The public OIL
would ~ course b paid by the United States spd
would require but small sun probably not the twentieth
part OF the amount which would be annually s.yed In To-
eresi by applying te present bullion fund TO the redemp
ton OF the public debt.
No objection could be urged this plan on the grouna
cate er en- amount q sold slTssay sSasy IN Possession Of
the Government These certificates would not be intended
for circulation would they circulate hand hsad
but would remain with banks b,ntor or individuals until
required for payment 20 the Government and the rcceiv
ng cheef shond pot be permitted 70 tens ba, only 70
CON- from the bullion for which they rgnAy issued
Thee certificates should likewise always be redeenable
n the Mint after reasonable time being allowed f the
coinage of the gold bullion which might Be xed st not .x-
ceedns twenty days after the bullion had been As.syed
IL Is proposed that the certificates thus issued by the Aat
md its different branches should be ndscnnately and
generally received 81 all points OF the Union such
he ucfusous and the great differences In the rstss Of e
change between different places would them be
used as remtsnces and throw heavy expense upon the
Treasury for the transportation between distant points Of
amounts in specie sufficient 20 equszc tho exchanges
u leas the extent OF the issues Of such certificates IL
caois for instance the eKchsnEe the Atlantic States
" the issue Of there would be ian d.,siy
forwarded to NcwNogk 20 be used a. this latter point IL
payment Of duies and the United States wond BE- OBLIGED
transfer Ct heavy expense all the coinage te Brsnoh
Mint a San Francisco IN orasE to redeem is certificates
New NoFk.
The remedy for this would be- to make the issues Of N,
Min, and m existing or sny bTaRches In the Atlantic
States TO be receivable only ~ tie Atlantic eepOrt th0so
issued ty the Branch New reanE 70 Be receivable
only she ports the Gulf OF MexoO aud ell the above
az u the land Offices in the Atlantic and wa.Aeru
States while the issues OF he BIGnch Mint At San F.p
cisco. pat into operation al Ill be receivable
st al the Custom Houses and land Offices the Pscihc
IL the present syste Is TO be continued, and bulou
fund Of millions 70 be siatained the balance n tie
Treasury cannot ceGysneniy be reduced below twelve mil
hons o, doas a. te s3sieHi Of an Independent Treasury
Millions g. tsFe the n~cafp At all tiucs
at the HvUcsous points wheSv the pubic expenditure
nscs.
SURVEY or THE COAST
II gives sreA pleasure 10 refer 70 the progress Of this
Important era during the four Ast years The whole
divided eleven sections and active operators
have been carried diins this whole period With only
link Of ;. miles souih OF the Chesapeake be tiled up
unhsoktR isssu'aton extends frum the mouth Of
the kenuebec Ryef Name 70 the hrbSf 81 Beaufort,
Nerth Caona The topography and hydrOEraphy have
made corresponding progress The Esrbors Of Portsmouth
N-wsurvporf, Ipswich Glcsccatsf
Salem, Neihest, Massachusetts, ard Others, have beer
surveyed New shoals have been discovered aid sounded
out in the vicinity OF Nantucket TIE dsuzegous sho.
along the scs-eoss of Delaware Msryl.nl AID yirsins
lsucsas Shoals aud FrynsPup Shoals have been made
Known 10 TIE navigator N eScecut preliminary charts Tie
survey Of the Chesapeake Bag yearly eSiplef.d aA
thsi tf tie rivers flowing IL has been oofaul-cel
Some Of the os important hsrbos ca the Southern s,t
As HsteTss. lElet, Ocscoke Inlet Beagozz HarbJr Car
tssi kntrsnce Roman Shoals Ch4rl-soa Hsrtor North
Eeiste River fytee eance and the Savannah River awe
be surveyed and TIE ehartssr wall be pukih
ed Ios survey Of Cc2S town HGboE, S0n;h Carolina
and OF tie ensace % John River Flosds have bee
The r lAr,cn and recoaaoss~sse OF tie
Neinres o. Csle Fear enzs3ce GeOgcfoWu HsYb- CO.
korAn, Charleston, North Edsse Ssvaa1sh sa6 enr1uc
TO Tire St Johns are gradually Ard sesdly sdssuciur
In few years gnhrok series with pcuts vel d.
tesriued By Astronomical and other excavation VII orr
he eoat frorn the Peaobsc0t Ryet n Maias 10 IL Sc
Atr1's IN flogida Ihe Of ~