Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1857-12-22
CURRENT NEWS.

Tbs UTAH ExPEDIUoN.-The Union contains the
official dispatch of Col johnson, of the Utah expe-
diiion We quote the following:
You are already apprized by the proclamation
of Brigham Young and his letter to Cot Alexander.
which transmitted the 10th inst, of the politi-
cal itude assumed by the Mormons and The resis-
lance they mediate To the just authority the gov
erument desires 10 exercise in that Territory, and
and the generai-n chief no doubt has already con-
siderei the necessity Of a conquest of those trait
people, and has estima ed the force necessary
TO accomplish the object With a full view OF the
whole subject before him, his great experience
would not be benefited by any suggestions Of mine
will, however, mention that unless a large force
sent here-from the nature of the eountry-a pro-
tracted war on their part is inevitable. tThe great
distance from source of supply makes it imprac-
ucabte to operate with small force. 1t in fact re-
qures the employment of such force 70 guard mum
erous trains OF tae supplies leaving but a small
portion, if any, for offensive operstions. move
ment Of troops from California, Oregon and by mis-
route would terminate a war With the Mormons
speedily. and more economically than if attempted
by insufficient means"
Gov. WISE ON BANKIyG.-In his late Message to
the Legislature, Gov. Wise, Of Va, thus commune
cafes his theory of BANKING. He says.
l. That but one Plary of banking be adopted
>. Tat each corporation be Independent, and be
uNi aLlyhtu 70 udNS "a brdnCl or branches.
j. That each be authorized to issue only two Of
notes for one Of capital
4 To issue ID rec of notes for one Of specie and
no more under a forfeiture of charter.
.. To redee all its issues in specie.
o. BE reqfured to register all their notes issued, in
some Cover lment Office.
I. To issue no note under $40.
s. To Je separated from the State aud its finances,
except 60 far as negotiate loans and tOreceiye de-
posts oi public funds.
q To be limited in dividends TO seven per cent,
anu 90 reserve all surplus that per cent for
Contingent fund, to guarantee specie payment
TO- Ilat greater governmental control be reserV-
ed over them TO supervise their proceedings, ana TO
FTerea' Violations Of their charters.
H. That whether the Stale owns stock in them or
not al least three Of the directors be appointed by
the state; 10 be sworn commissioners, TO report
quarterly the condition Of the banks and that said
commissioners be not allowed TO own stock in
borrow from the bank while acting as directors.
J.. And that for sufficient cause the Legislature
or She Executive should have power institute pro-
ceedngs TO close the bank and put IN course ofl-
Oxidation.
ID. That the banks be allowed to bank upon a
limited amount, say one half only of the deposits
made IN them.
Tn IssUE OF Treasury NOTEs.-The PrOposedis.
sue Of q asury notes by the government, will not,
it is said, exceed $4,000 600, of the denomination
in the discretion Of the Secretary, and which, it is
believed viii MOI exceed three per cent per annUm.
The Washington correspondent of the New York
Times writes:
The Secretary has received assurances from
New York that this rate will command at once all the
money the engagements OF the government through
the winter will require over ana above his current
revenues from customs. These revenus he is now
induced from general inquiry % believe will more
rapidly r.cover from the effect OF the late crisis,
than was generally supposed on The assembling of
Congress It's also intimated that the Secretary
will empioy part Of the issue Of the treasury notes
at "a nominal interest provided further inquiry and
tie early prospect Of renewed activity az the Gus
tom-house ana land offices, and the nature OF the
disbursements at the West and the Pacihe, where
sslu notes would he desirable as a medium q e1-
changr' should authorize the calculation OF Their
having Tree currency par with gold.
" Ile three per cent. notes will at once be placed
with the sub treasurers and at the mint, TO be ex
ehangeI on application for gold All the notes will
be made receivable for government dues, but will
contain no funding clause they are to be redeem
ed 81 the end Of the year"