Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-10-07
Treasury Circular.

Gov. Cobb, has issued the following circular:
"TREAsuRY DEPARTMENT.
September %, 1857. I
Notice is hereby given to the holders of stocks of
the United States that this department will purchase
such certificates shall be received here, duly as
signed to the United States previous to the lst day
of November next, at the rates heretofore offered
and paid viz
10 per cent. premium on the loan of 1912.
l6 per cent. premium on loans Of 1S47 and lS4S;
per cent. premium on Texas indemnity per
cent stock together with the interest accrued in
each case from LIST July.
Certificates of stock received here on or after the
1st day Of November, until further notice shall be
given, will be purchased at the following rates. viz:
per cent. premium on the loan of 1912;
IA per cent premium on the loans of 1S47 and
1885, and
per cent premium on Texas indemnity per
cent stock, With the accrued interest payable there
on, respectively
When certificates Of stock inscribed and transfer
able on the books of the treasury shall be received
here assigned to the United States between the LIST
December, when the transfer books will be closed,
and the 1st January, when the half yearly interest
is payable, the accrued interest for the half year
must be expressly assigned to the United States by
the stakeholder as no interest for the current half.
year be included in the settlement, but the
will be payable by the assistant treasurer the in
terest schedules as heretofore.
In all cases the purchase sums will be settled in
favor of the lawful holder of the stock who shall as
sign it to the United States in the mode prescribed
by the regulations of assignments of stock and
mittance will be made of the amount by draft on the
assistant treasurers at Boston, New York, or Phila
dephia, at the option of the party in whose favor
the settlement shall be made. One days additional
interest will be added from the day of receipt here
for the draft to be sent by mail.
HOWELL COBB
Secretary of Treasury.
The administration of President Buchanan has
been doing all in its power to arrest the panic and
restore confidence among business men. Gov. Cobb
has been engaged for more than month in shaping
the operations of his department so as to give the
largest measure of relief practicable to the money
market Every dollar which could be legally and
properly dsbursed by the sub-treasury, has been
paid out; and the amount of specie thus thrown in
to the channels of circulation, has been of material
service in staying the financial embarrassments
which at one time threatened to overspread and Sc
riously injure the whole country.
The Government is acting wisely in freeing itself
from debt by calling in its bonds at a premium.
The revenue is not only ample for all proper and
desirable objects, but there is surplus; and we
know of no way in which that surplus could be bet
ter employed than in redeeming the public bonds;
especially such policy is pouring out the pre-
cious metals among the people, to the advantage of
all legitimate business operations and thus arrestng
the tendency to general suspension by the banks.
And herein is the wisdom of the independent
treasury system demonstrated. Instead of stimu-
lating issues at any time, it operates as con-
slant but salutary check on bank discounts; while
at time like the present it can be brought at once,
and to material extent, to the aid of the business
of the country, by diffusng among the people the
only currency which really constitutes property,
and without which as basis bank notes would in
deed be mockery and delusion. Banks find
much of their profits in boarding money-in hold
ing to and dealing upon the basis of the precious
metals; but under the simple and economical sys-
tenn by which the government collects and dsburses
its revenues, the precious metals are never thus
withdrawn or boarded, but kept in constant cir
cuation, passing into and out of the hands of the
public officers and giving strength and life to the
currents of trade.
What better investment for one who has United
States Stocks than to have them redeemed at pre-
MUM of from eight to sixteen per cent, and then
renvested in North Carolina State bonds at 90 cents
in the dollar!
COMPLIMENTARY PARTY TO Hon. THOMAS L.
CLINGMAN.-We acknowledge the receipt of ticket
of invitation to a complimentary party to be given
to Hon. Thomas l.. Clingman, at Gudger's Hotel,
Ashevie, on the evening of the I'd instant by the
citizens of Buncombe and other Counties of his Dis
trict We regret that it was not in power to be
present. Mr.. Clingman is worthy of every compl.
ment and every honor which may be bestowed on
him by his neighbors and fellow citizens generally.
WHAT IS A SPECIE PAYING BANK ?-Is it bank,
asks the New York Journal Of Commerce, which
pays specie so long nobody wants it. but the mo-
ment there is any special call for it. twill not SUBJ
NIT to run?' From the example of Philadelphia,
Baltimore, Baltimore, Providence, de-, we should
say that in their view, this is the proper definition
of specie-paying bank. If it be correct one, the
whole idea of a specie-paying bank is humbug.-
Such IS not the meaning attached to the term, eth
er here or in Boston.
THE "IND1v1DUAL LIABILITY CLAUsE."-The pub.
lie may now perceive in its most impressive light.
the importance and value of the " individual liza
bity clause in bank charters for which the Dem.
ocrats have always commended. bank may sus-
pend may fall yet the noteholder is as secure as
possible, for the bank is not only bound to the ex-
tent of its assets but the stockholders RESPONSE
BILE in their private capacity to the amount of their
stock, and in some instances to double the amount
Time, the great trier of all things is constantly
demonstrating the wisdom and soundness of Demo-
cratic principles.
N. G. STocKs.-The following is extract from
private letter, written by reliable gentleman of
New York City, and one we'll informed in monetary
matters, to gentleman of this City:
"Nothing has stood the terrible times here better
than North Carolina bonds"