New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-10-26


Mississippi Is to be added to the list of States
witch bave prohibited the circulation of bank notes Of
less determination than ST. law to this effect goe,
into operation the Let day of November. This applies
to foreign bank notes. there is bank Of issue in
Mississippi.
The Norfolk Bark, Conn., has not suspended.
Messrs. Beebee Brothers, highly respectable tea
house have been obliged to ask extension. Taere
were several rumors of prominent failures current in
TIL street, but they were entirely unfounded.
The annexed suggestions in regard to general re-
demption agency in this city for uncurreo money will
commend themselves to the parties interested. Tney
are from Tkompson's Reporter, the Editor of which,
Mr.. John Thompson, has made banks and bank cur
rency the study of the main portion Of his life Should
such ar nsti ution be established there few men
better fitted by practical experience to conduct it than
Mr.. Thompson, and his "delcacy' should not prevent
his taking prominent part in the movement:
EXCHANGES AND CURREScrEs-Unlesss some De.
cisive policy is adopted, and that speedily, paper
money must cease to be currency, and prices will
come down TO the standard of purely metallic basis.
Every reader Of this paper knows and feels the
sity Of putting gold into bis purse The merchant the
traveller, the farmer, mechanic and aborer feel want
OF COZ fdence in paper money or at least fear that
bis paper money will be rejected when or where his
pece ssities compel him TO use IT,
'SThe shortsighted political economist will say
l.es
inste ad Of bank ragsr Such EXPLANATIONS are fit only
for The stump on the of an election. Gold never
was the currency Of the masses; it never will be.
Abolish paper money, aud our currency becomes
Nalianised at orce.
What decisive policy can be adopted 10 other
words how can baIk notes be restored TO confidence
so as to pass beyond their immediate locality
"New.York is the commercial and financial heart OF
the &C ntinent. Every paper promise to pay that is
knorn to be good here is good all over the country.
Heie, them Is the basis Of operations. Bank notes
must have fair and fixed value here. Banks that
deserve circulation must, now that the brokers
not regulate the currency have some arrangement for
the quoting and buying their notes This arrangement
must not be at bank where nonI residents, strangers
and email dealers have admitiance, but it must
he where all can have access.
"a Redemption Agency might be established in this
city that VIC ud embrace all the United States and
Canada. The amount Of capital required TO be CON-
tIibuted would be but fraction OF the benefit the
banks would derive in having their y restored
TO universal confidence. The saving to the people at
large would be millions. Nothing bu. delcacy pre-
vents the editor Ct this paper from offering his services
as agent OF the agents to found this udispen
sable institution. VIII some more competent person
.tep forward and will few banks step forward and
take the initiative
Our he art would be in this good work. Our sub
scrbeIs merchants, bankers, railroads hotels, Sc.
would rejoice to hear Of progress
The Detron Tribune has published full and socu-
rate statement of the lumber business of that Safe,
showing the great extent Of the business and it's value
The recapituation is thus given:
+ tai lumber on Eastern Sope...........+6 600 40
Tetsl INN Der on Western Slope. .....-..Sls $4,000
Total lumber OIL Moth Peninsula ...... SOto,ooO
L.th on Eastern Slope................lo5ooo 900
lsth Western 81 Pc '''''''''''''''''l-'e 10000 100000.
Assress.e value Of lumber. - &5 30
Aggregate value OF iAih ...''''''''''''' $4,000 -.
Agre,,.e Of capital emplOyed...;.... 6lls6sO
SHINGLES There are ARG NUMBER o. shnsle mA. u ".