New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-05

i
lation.
And would oil turn bankers in case no notes of less
denomination than twenty dollars could gain crcula
ton well remember that upward OF forty years
age, the country Was for u time flooded with notes.
The irresponsible and obscure contributed 10 this flood
by issuing their notes for dollar and for smaller
sums, even down to one cent. They could not have
got their ten even five dollar notes into circulation
But how well known for honesty and for great and
sure wealth they be who could succeed i'll swell
ing the currency of the country with their twenty and
fifty dollar notes!
No; if the circulating paper shall consist of notes
lower than twenty dollars then of well ascer-
tanned and entirely undoubted responsibility will in
the end, alone supplyt. Ia that state of things the
losses of notehoders would be fewer and lighter
than under the eItoed banking system of our State.
But how innisasurably better off would depositors be
in that state OF things than under this system Under
this the private property of the banker is liable to
only very limited extent But under that which
am commencing the whole Indebtedness would be the
only limit of the responsibility. Under the present
system, too no disgr9eful disability and indeed no
punishment whatever awaits delinquency But under
thlt which would have take It's place, not only is
the failure to redeem small notes made felony, but the
failure TO redeem large and pay deposits is made
good cause for an ignominous disability.
The security OF the creditors of our banks greatly
oveuasd, and the delusion at this point needs be dis
PEELED. certificate of deposit signed by w. b. Aston
would in point fact be it. in his stead half
the banks in Newfork ven jointly pledged To pay IT,
80, too, the obligation OF Erastus Corning to pay
would be. backed by greater amount OF money to
pay than If possessed by half the banks in Albany
put together. From the nature of his properly, the
obligation OF james s. Wadsworth would perhaps be
snll surer than that of Mr.. Corning. Wha: a sound
and welcome share Of the currency cf this State il
would he IN the power OF each OF those gentlemen to
furnish And If al their to each note,
might not add that the currency they would furnish
wo"ld DC honored IN every part OF the nation What
l have said OF these gentlemen I might, 10 every
decided extent of the OCCASION nave said of not few
oeers. Sufficient TO say that among them all there
M19d be enough to step forth and supply the public
WI safe currency, were once the present unnatural
nJ aosud system displaced by one that is natural
ana IeasOAabe
SO 'h, makes the hard times ?" There is 20 need
ma 80 r,I< M question. people morally insane
;"s,,a,aa slavery among their institutions
sn;,an. ,; anu wicked 10 coufound The pre-
cred and obI;a,r., vie hole world with real and SAL
"u oonsa'ory law and 80 ignorant Of political
S ~n aud 90 lacking common sense as TO count
up ~ human bodies one TWO thousand millions of
iher wealth, ami to make tina, ss, 49,, vhjeb =; b',
"s.e, nc"a and ridiculous iency an essential part
"tue pass OF public and rational cySS't have srelv
no heed 10 wonder at the fcequen; r,cnnce Of Ia,
ute ~ the way WHY dc car eceOcnis.s "a cunt.