New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-12-31

Tho CIV Five Percent Stock Of 1853 about - OOo'
zoo Comes due on and after the Let proy., and the
Coutroler ia busily engaged in arranging Tor the
payment He will pay portion, aud will no doubt
he able TO exchange large amount Tor new st ror
Cent stock, due in thirty years. Some parties nave
.r,,s made this exchange which increases their n'
co,,o ar fifth aud more are ready to make the ex-
change.
The snplcations for the now Treasury Notes are
s,r reiarqie The Notes il il believed, viii DE ready
for delivery about The 18th Of January Mr. snowden,
Of the Philadelphia Mint, has. We notice, prepared
uamonlet entitled, "A Measure proposed to Secure to
tbe People Safe Treasury and Sound Currency, in
which he proposes what would be practically Ma
t;onal Bank of Issue, based upon specie deposltes
The idea We think not original with Mr. Snowden but
tson,s il We are not mistaken to Mr. Robt. j. Walker.
Sma man Of the kind was also urged upon Mr.. Secre-
tary Guthrie by Mr. SubTressurer Cisco OF this port
bu, without effect. The scheme would undoubtedly
nr,duee the best possible currency fer the people
sbundsp ,ly safe easily convertible at par in any
nar, nj the United States and available for remit
ts,cas between the different parts OF the country Ii
is however. the mere substitution Of paper Tor god,
and Il, OILY merit the greater convenience oil the
an, over the other IN the usual settlements Ut business.
M. Snowden's plan is ~ follows;
Firt. To authorize certificates to be issued on de-
roSit of gold bullion at the Mint ana Va oranehes,
and AT the Assay Office in convenient sums, st the
option of the depOsltor, aud payable to bearer.
Scrord To permit similar certificates to be isSaed
A, the MINIS, aud at the Treasury and Assistant AM
Trea-ures OF the United States, on deposits OF tue
gold 20 NJ of the United States.
Tn advantages Of this plan he assumes 70 be:
Seenri,y. This will De readily admitted, for no
better could possibly be given than specie oaSs WIN
the guarantee Of the Government. rs.o,.ox.
. To lessen the practice Of boarding. ii holders
conld he made unauestionsby secure there would be
no irduceInent to hoard. To show the extent Of the
evil Of boarding il may be briefly sisted tDat OF tno
three hundred millions OF specie known 10 De nca 10
the United States lees than one hundred uiions arc
in circulation aud held BY banks
. The specie deposited would not Dc "nnoi""n
from circulation. -, .o.,
reserve to be Withdrawn at any time when special
demand for coin might arse, without the shghfest
d;-iurhance of the commerce, finance OF loan market
s. substItuiiny Paper for Specie Currency would
ayoid the loss wear, clipping Ut CON, &c ihc
amount of thi. saving is shown by the statement OF the
los =. The English Government from E7f to us in re-
oninipr their coinage which amounted to $50, w.
Thi. aving would probably pay sll or large proper
.ion of he expenses Of issuing the certificates.
We do not exactly see the reasoning BY which Mr..
Suorden arrives At his fourth conclusion Certainly,
If the specie was Withdrawn BY any special demand
for c. in. there must be An equal redemption vi ee'un
caes and OF course 3 consequent contraction Of the
currency producing stringency in the money market
In conclusion. Mr.. Snowden says:
"Tte whole coinage Of the minis up to the ysn o,
June Isl, amounted 20 upwards II SIS OOoov.
observe that Of ths amount there has been reeesW
rce the 1t OF January 1879 Of native go ths Pc
ductlou Of the United Ststes, the sum Of
II IN addition 20 this cum add the gold pfc"od N
hu.s;a and other foreign eountrie. dsrnS satc
prod which may be stated TO BE- sbout ~ $500
and the production % silver bullion from 81 source
hich i at the rate Cf so 900 800 snnIm WI o.
seeo tiat within this comparatively taes petiod inc
woris supply Of the prseioa. Dsn so hA. oesn W
| creased 10 the extent Of y ,spro'oW ~ view OF
ri. o-ra inc -eae and Of The irr'hrr suppnes winch
x doubte.s for years to ccne be received iron the
sane sourc.s il may vel BE- eonridered whether m
e"nptry 80 highly favored With the production OF gold
| .nd the suuI. Of silver n ours, some measures
| sbouH not w. sdcptsi BY which the people, in like
,nsn,sr win the Government should enjoy the ad'nn-
| tsg-- ~ specie currency"
| Annexed IL xtfer FROM Philadelphia banking
boo- 10 their core -poedea,s in this city:
vTbe Garden and Ambcy Railroad Company give
roice ths they have pledged with their note. dated
Dx.nter f5 1851, at l2 moahs, Their bonds Of 1872
Ma Gl h snS sa4 to et5. 81. &S to So. ~. u