New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-02

Arrears Ct in,sre, and n:eres. topdt 3SD7 So 70 80 -
Registered canal debt............... stOo,f7s Is
JbTsgst.I.d canal ieb,.............. lfel,5 sos OIL
Arrears Of iIterest ca unregistered
b0nts,.. LVIe.o' - ,os e q,
Total debt on Jan. !, sl2ea,l4 q
The interest on the regi.tered debt is entirely paid
Up ard Oh the lst of July last the Canal Trustees sid
10 cent OF the principal out of the proceeds of the
caIsl lands. There have been paid during the four
years rdjng Jan !, 1857, over and above accruing
interest, g. 5Ss $40 10 and pay nent on account OF
prIcpal must continue Until the entire principal is
Maid az the interest taxes levied to qnidss the debt
eslze over 81 600 coo per enDum, as The above state
meD shows therefore, with the reduction OF the debt,
and the quent decrease in the payment OF inter-
est added 10 the Increased receipts from the tax there
s strong pIobab ty that the Stste Will be able 70
hquida'e its entire Indebtedness In ten years Ire
arta rs Of interest have been funded into y cent
boros interest 70 commence In 1860. The State can
rot create any rev ceb'.
From The Cincinnati Commercial.
Suits were commenced in the United States Circuit
Court on Saturday, by James Lee Il Co. OF New
York agsptt eight banks of this tate for the recovery
Of various sums Of money amounting in the aggregate
to 1891 600 for drafts 10 that amount indOrsed by
tt en- which were drawn on f. Ludlow, Cashier of the
Ohio Ii ard Trust Company Bank and made psya
bic to their order and also for money advaoced to the
CeeDC anti be oraits being unpaid ~ maturity. Inc
quits sie az follows: -
James Lee Co vs. The Bank of Marietta Claim 100000
1 s Sl ., ssSS the State Bank
Ohio sprI g6ed for thbeen bills OF exchange and money
SANE w. The Ckco,be Branch the State Bsat of Ohio
for o0OOc-tqrteen bile OF exchange and money
sIs Ite-S bills and money
Same vs. The RO,s County Bank in Chieothe for sSOC-
Same Va The hhen. Branch of the State Bank of Ohio
same vs. The Bank Of xeria for s35cco--sx bill, and
Seine vs. The Piqua Branch at PIG. for ssOooone bill and
the attorneys for the plaintiff
From The London Time' Nos IL.
The Intended sunmoning Of Parliament Is the most
satisfactory announcement that could have accom-
poned the Suspension Of the Bal Charter Act While
The cautes of that event fresh they must be tho
roughly sifted and exposed. -,
is FL eard every contract is made in gold. Any
man who comes der engagement to pay certain
sum on a certain day pledges himself to deliver so
many eoyeIeigpe. He cannot be released from this
except by the consent of the ether party and conse
aueptly iotbiDg can be legal tender in discharge
CT debts but gold. Gold, therefore, the true cur
1ercy and every attempt to substitute anything else
supiy an attempt 10 break contract Government
NAV eealize such process, just as it may compsl
an who is entitled to 20I to take 49, or instead Of
horse that has been sold to him to receive cow
but it can do this only at the expense Of every prin
ciple OF public morality.
When the Bank Charter Act was established, l.
Isced Ell gland upon the footing Of having an entirely
metallic currency The total circulation was about
1885, co., AID thenceforwaId no addition to or SUBJ
traction from that could take plaza except pre-
csely in accordance with the natural dow or ehu1 OF
the chosen metal. Here was sometbing apparently
involsbe 1t made difference that the t6eo oVo com
the Bank of and f9O0 OF those OF country bark
er ard that these instead Of being actually OF
gwen that this element Of ciedt wond al
The point liked and weaa never ENC Ss Ss
regulate every TRANSACTION. Ill, l., ., h,ur .,, of .
nation with pure currency subject disturbance from the
csprces Injustice e1eer cies OF ana vsn
be found contend that who hes contracted to deliver
thing may be :o se 70 9oa,e AL sn
being based on gold gold % Dc et 20 rs as &
ect.d to any k than that resulting from the Legitimate
variations its mEhet value He might find when his pay
ments due that Of Il worth &c y cent per an
nun or y cent bot that would be risk voluntarily vnder
taL. entered .o his contss VIA, he would lose
the woai GAIN aud
could interfere with justice 70 alter tins
relation than they could .ees to give .ei TO man who ad
found iDccnyeent 70 do So because he had accepted
80 and the price had uesnw nile advanced TO 3D..
appeas that tins question OF the power OF relaxation"
finally rssed The pover hss already been vice
PsriJ1en will be called decide If It shall be permanently
sssbsteo The suon is simply whether the Minister or
it may appear them expeden that q. debtors who may
have United themselves % make payments in note. repre-
credit thus uIing The prleent creditor who has calculated
that al that the demand for gold would be such render
bis position Of great sGyAnge. No doubt the Govern
letter had not appeared Thursday money would have
So5 SS syn been but be- hsncsfoR the law
Of the country thst in disturbance prices from
panic AID conduct Gcvenmes will step between those
VINO oulo pec,,ey lose BY IN psnic the bene
party end tn. injury OF the other II 50 the principle
mutt app consteI y ana the farmer who has made
deliver grain the manufacturer who
ha goods must he should be threatened with
intervening rise OF prices from wld sisrm at pos
sbe failure Of deficiency OF mat rial or labor be
10 eon acts as viii sxtrcl hi. painful situation
But for OF the past week respectively London
dpsncia ideas OF eishbours might system
would be in harmony vita Continental than English
h. mrHe that x.Yf1 kaf. .f.nf
s,6ce the entire interests of the country national pride and
n.i,epey .nd b. hSvsh in stree theory Goysm@eat,
us except inp.Itiay enforce them would BE- better
We ale sscit niy advanced ior such state rather hsH
that thing nOud be brought to chAos thai in the
shape either Finance Minister Bank Commssione
be allowed 70 n.ePose and say This confusion mus,
be stopped. vii sdJls Jour relative claims %
sve relief ssanm the otner You unfit to be lefs to
"soufelyes al it 10 TINS foI me TO step IN -"
Bsor. ADOPTING such conclusion viii be the duty Of Par
to interfere III eli,'s eASep oJ HPrns WITH aud
oslns the currency and Whether it not through the
entrI, that this tampeDg will always be Tesoted
he quencs Of their own ononct upon the couHJ
hat we nd ourselves periodically dsracd b. such
From The Lcsdon Neos hor II.
The fluids opeLed firmly tins morning., but coon be-
came weaker owing 10 large sales Tor account Of
nous banking Establishments. Among others, tue
B.tk # England sold, for delivery . cay or two
hey an amount of Consols which IS computed by
soc OF The bet informed persons at not eis THAI hif
million. Considering the magnitude Of these reali-
zstoIs TIE market msy be sao % nave evnced crest
con pars,iye frmness which Is chiefly owing 70 tne
irv.,tments cf the public; yet in he afternoon the
tone was Fat, and the closing quotations were TO
q cert teloE those OF Saturday,. II appears thar,
o1irs 10 the exte 70 which tDe drsD upon he banks
r,op,css was neInt,ed 10 proceed before the author.
ines could b. Induced to suspend tins Bark Charter
Ac. that se, IL row really iDfIipged On Tharsdsy,
whom tbs COVE rumsIt letter w.s issued, the bank re
serve il said 10 hsvs sl to bali million, oTns 70 the
epormou, ,.ert Of the sppiosons whioh induced
BY ,be p ev s,ling distrrs % hrdsy sTpsArs, te
Act wss f.st intrsed the srorHt Of notes isss:d in