The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-12-18
The United States Government IN the Ex-
change Eusiscss-Das gerous Precedent -
sun- treasury System set Aside --KonolSoiy
M ls Elslf,.

change Eusiscss--Das serous Precesse.,-
suo- sreasury System set Aside --nonolsoiy
Ia In. Field.
lFrom The II. Louis InteIIgencer DC I3I
Wotaye never known o measure Of similar cnsrectsr
szis general surplso and regret Ia tis comma
", ,hsn the Official announcement, Of tie Uaited 3t.e
Assistant Treasurer cay bsfore yesterday. that 10 va
iLree Gunrtrs 4 mlion Of dollars IL ~as q tie
u unvsrtsl regret tbs. Secretary 80 abe aud popul
w Guthrie IN tie y. narse q me legitimate cute
b. office should sgrize tue close OF HIS "a minis
iop tho adoniion II roliry wRh tho best IN
cis ct tho Msst viaat,e Of to- principle OF The SAP
Tcssnrv system, and lsgrany i1coc s.eni with a.! tn
arguments by which TIC cenocr afic party esablshe.
tnb uets my syssfain iEe cou-sry
let Is naiyzs thi- Vtment o. NJ Guthrie ami SIC
be bass and the iul bearing o. t. There $4,000
2 coin in the Sub Treasury ut New York The Govern
acpt psecs 500 oco at - i3u Iresd OF scnang for
Md, ny eaprf The coin for New Yorkto 3. Louis the
foFssIrncnt "a sei drafts 10 st L'u's payable
b. suo.iEcassry % Neg YORK. fr taeAsaole smoi
re rssss me gales. tia. $50. o. Will be- oai him ey Ia
ha au and busre o,s. Lou, IN oou, and this
CIR wi be eubtTacts FROM the vaults OF the Bsnk Of Ms
suIi ard OF re private BANKERS Tor, w1si 10 the same
wthb.id from berg depeilec siin the aut will
tktd up 10 the trong ooxcs' OF the government. 10 ba
retained uli stiprei iemoso points u vl,d
rerI cas DUNG the neg, year the e.ec, vii be 10
oct OF the channels OF !. Louis trade nearly
uihon dollars. during the whole win'es Of whs right
70 IL opes TO the business af toe city In many
nuSiies ruoh operctor would bs dissstroas. We
dtuot wasiner Ioul.vili-Ir Gushrics city, where
q IL Q eitcut 20 get ~ould 10, fnd such = move
mtni wholy upoearabe.
TIT 80, that the proposed sale OF exchsnEe will cr
!.
TIC necessity tia. mpels Vie government 70 ~ Wns,
DOCS the government make ny tue movement The pre-
niU charged on this government exon nsa Is OF ons
pr cent? or upon the oEtra 500 oco offered s3si 6o
Yer yuch IL the pa,ry OF the goycrnmant PROFITS
itch should be added OF couysc tn. moucy esvcd ny
not aao,rg The needed cola tom New York 70 5, Loa
~ exprces-ssy Jnpch more 81 100 Ia all. THIS
he amount Of REVENGE de.ci BY thin ne. mode u hand
M s1bfeoo Of government money. We leave II % Mr.
Gcthric " ssy vbsiher The confederation OF puDii:
SONY bj wholly oDrtens piibe ~he the
orn nay,j II aa nEd where tae profit TO tbs q,
vfTrmer q g-neG tic txpcnre ~ grcs' city, whose
uirfprse, ,ohaiig ard prmPSry are "a hoaor 70 "a.
raikh
sr. Ca1hr ca icnas shall place his saingsion o. ~
rrouud that I. 10 Q plain bus.ncss trsasas ioa-s
question r he righs al cnzrio Of b. co GUY, 20
auiy he met perform hort regard W pcrsogs or
rufiser--:ten ~e wiiasly shif ths argansrl Aa1
rake Esgc sgalrst the Sccrrlaryis course roErrs
2. foipic- o. Jaw ans pubic FASH
!, ray ha mai ttstun treasu'y law viii admit The CO..
siruCu,r tat the soscTnr.nS my ir4nster money b,
stccsrgts Technically, ttc tr'y - tie Iait0a ssasa
Sgfse II rs'- r,v,nue there Il no arihcrity - tsi
the rubac deposits q; interest," thgr3 aotSoFizs
syshg 10 exchansei b., yoi TAP pasor - Mssec2ri
oe. not puhsgs seine 90 ra,1t q t-aaspcrtsnon ald
II he medium OF c1Ghs0Ee apehcs tre pu,pos,, tns
course q tae secretary nasy % legally saiisincd
But The slug Of s-rhanre IN 10 manner As nov PRO
rcSec. bold Il a, siia the principles Of tho
uessury sysam Tho obJsci o. ryetsr wss Y make
: cor e'aie s.rn-ai,r between the rovernmsrt and
baugs was Is oiyss icdel, ofrcts o. persons bav.
ag ccnsroi ~ The fecsrai treasurc of All or,oTtuay
afo poxey " control the nsens aads - a. y override
Hui aesng IN exchange Il c,rcom,,aa. Of barking
VIM rsrsl 10 back H. q trenig millions CT more. the
mot Overwhelming monopoly ~ paced N me hands o.
he head Of the Timed sies Treasury Department VI.
Guttre msy be honest H. n honest and parotic and
would ro veld the rower tina, tns control 81
tho Upred States exchanges )uld give him. bot S all
be succc-sors be AZ honest and rarotie Lct ne sup-
ecee 70 put the case strongly, ina black republics N
shoua 10 elcc3e President ard a man Of like faith
sfoDid Nh NJ. Gushries chair and tna Loulsvlc bad
s,rfsvcs herself By q determined opposition 10 the
ses.ics Of thsse ptrscrs 70 pc-er what sould NJ.
pctses.Dr the p7ver 70 deranse arr destroy tho Gnan
9 81 syst m 81 Louisville, oy brngrg 70 boar surp'u,
o. thirty mlcr DOLLARS 70 rob ke1tscky Of her con by
40 oppressive policy Of exchange
4 rot Fr cuihrics precedent, dangerous cne'
The Park Of the Urfed STATES w.s sfvocstca By ~
htsres or the rrourd That needed 10 tresua,s
exchapge1 The opponent, Of the bank dopicd boh toe
neccssiy snc utility q such reSu'aor and msntaned
that II len alone. exchange -oald '.reeuias thea
United states destroyed the sob treasury law
pa,sce TIE government retired her revenues from The
u,es Of baskrs snd ssshanse Ara ,nrs snoagh ~
So vindcaied esiabisbed, aud the BUSINESS
COURT CONFORM 70 the new order Of things. Men
baFkes their capital the business OF exchange rt.5g
- ,te ruhjtc iaan that the government would recp
oof The re.a 10 the highest degree salsfsctory
Fzchsnscs assumed regular rates and obeyed kno~n
lav snd tho commercial world knew wha. 70 rely on
pat rc- on q eucoen this whole policy is se, ssde
Al the Unred states government, with he millions o.
ssrtus capital apps.rs ,ne ooa, s sne ene.rss is
TIC rYivs,e bankers 70 cope with sush ansag MIS-
pow car exchanges ''reeuse themselves" ooey any
trovn AVS with powerful naonopors. stepp nc
psstrlv on the Held VINO ell know vhsn and who're
70 ok of TIE Demonstration Of this power It's
ftc5e IN the bosom Of the Secretary and provision
een b. male ssslnst ifs Ell cts WHAT but the its.
sst-nrs uncertainty and fluctuations vil result from
ni,r alton this dangerous policy inausuratsi ~ NJ
Guth,itY Exchanges cannot .reguMe ,hemse'ves" ncr
Tits BE- tsey followed, lf the preceden. Of Mr. Gahue
r III into custom.