The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-15
exception TO the necessity which hsl

exception TO the necessity which he's
wrecked the faith end reputation Of our
banking institutions generally. Tho enviabls
position which the Chemical Bark holds amidst
the ruin by which II Il surrounded, fully Illus
trates the justice of the axioms that we have so
frequently advanced on the subject of banking in
this country. We have always said-snd the re-
cent disasters fully bear out the assertion-thatif
the banks pursued the legitimate course Of their
business, and kept clear from connection with
speculators they could never by any possibility
be reduced TO the painful alternative which they
have Just been driven to adopt
In the measures which it viii be necessary to
have recourse to to prevent the recurrence Of
these terrible monetary reyulsions, the example
of the Chemical Bank, standing out, as it does in
bold relief from the failure Of its sister institu
tons, will, we trust, exercise its full influence.
That which in one instance has been effected by
the steady good sense and business capacity Of
few practical minds, may serve as useful guide
in the changes called for in the general system.
TIE FEDERAL TREAsuEY-PRosPEcT OF AN
EARLY CALL FOR GOVERNMENT LoAS.-The
receipts from the customs from the lavish impor-
tatiops under the late administration, were such
that Mr.. Secretary Guthrie was reduced to all
sorts of shifts to get rid Of his encumbering sur
plus revenues, but which, in spite of all his
efforts, and in spite of all the wasteful devices of
Congress, the lobby spoilsmen and the Kitchen
Cabinet, still kept accommodating upon bis hands
Even as late as a few short weeks ago, there
were twenty three millions in the treasury sub
ject to draft but now look at the following
report, which we published yesterday from re-
sponsible source at Washington, and mark the
rapid ebb of the tide
STATE OF THE TREASURY.
Appropriations 10 the present nsoal @85 3l8 2e6
Amount expended 70 Oct. l3.............. T,l66,74s
Amount Of fands ON hand 60
Current receipts per week ................ 100000
Dealing in round numbers, let us see what
these figures indicate. OF the appropriations for
the present fiscal year of sS5,OOO,oe0, there have
been paid out some S27,OO0,000, leaving
balance yet to be paid of S5s,OOO,OOO To meet
this sum of liabilities by July next the Secretary
of the Treasury has balance on hand of Sc ,000,-
OO0 and our correspondent reports the treasury
receipts at 100000 per week. We venture to
cay that the weekly average receipts for the next
six months will not exceed S750,0O0, if it even
reaches that sum, for the country is full of TO
reign goods full of debts, and instead of sending
money to England for more goods, we shall be
sending our own products to England for money
for some time to come. Assuming, however, that
the treasury receipts for the balance of the fiscal
year will average $4,000 per week, then, to
the 30th of June
The recepn viii .eSo, ooo 900
Busncc on hand. 100000
Miscellaneous, lands, &c. ................. 100000
.v4AVVVyVVV
APpTOPYlnSons. ooWV,UU
Deficiency 1000
Very different this from the estimates of Sec