New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-12-20

The Mint now has deposit for coinage over three
millions Of dollars in gold, about months work. This
will be increased faster than it can be worked up,
less Congress should pass law making foreign coins
legal tender. The saving of the charge for coinage,
q cent, and of months interest, while at the Mint,
would make such law quite boon to specie import
ers. AS the occasion, however, is but temporary, we
presume Congress will hesitate before disturbing the
settled policy of the Government to meet the present
extraordinary circumstances
The produce markets are improving under the more
favorable adyices and orders from the other side Flour
j again IOc y Dbl better and grain has also advanced
Cotton il in fair demand and firm at the Improvement
Def lie quoted.
The business of the Clearinghouse to-day was
sli,Ci9,0OO.
In the open market for paper the appearances are
,riae nore favorable Frst-cass names are somewhat
more easily passed. and in cases at little conces-
sion in rates in favor Of the seller The change, how
ever i scarcely quotable. On demand money Is
abundant at 6a7 y cent
Tie Commercial has discovered that the 4th of JAN
uary rrox., appointed as Fast by the President is
legal holiday Tie act in relation to holidays, says:
SECTION l. The following days, viz The hrSt Of JanusTy
commonly called sSSSn1 cse AK S Day any day
pointed recommended by the Governor OF 'bls se or ne
& M an purpose. whs.soever a. regards the presenting fot
Fynen, acceptance and Of the protesting % d ssoyy
mtde after the Of his act De trestea anu
cred ssi the first day Of the week. commonly cseu '''
The experiment, recently tried by Banks of ex-
randng instead of contracting loans in period ofpanic,
has been attended by q success complete that but
few VIII now doubt the wisdom of the movement al
fhoneb 81 the start there were many misgvings as TO
tie rruderce of such banking In our Judgment there
has no, been more intelligent and opportune measure
10 ~, Ia financial history OF the
couniry-ahough it is policy which directly opposes
The notions of fossil bankers, and overthrows the
million theories of some of modern political econ0-
nists The principle inauguated by this bold measure
Is ioGIded upon simple business rule, viz: that pane
i. Intensified and increased by continued contraction,
while il If either dspeed mitgated by expansion
Tie Banks owing their very existence to the credit
yste cannot clog the wheels of that system without
finally stopping the machinery, and their own move
nen,s at the same time. Thus, when the poll'lcai
troubles of the present time gave the hrst panic I'M
pl'se and distrust began to spread, the DdnAs
pging TO old notions followed it BY sharp conrac
on This practically, was TO demand OF business men
The collection Of debts throughout the country III Pc
Rod of time entirely inadequate for the purpose Inc
effect wa electric-everybody wanted money al ohce'
and nobody wanted TO lend, for that very reasoh--eA
=. aroes bscsme embarrassed at once-the crop move
1oent stepped and there was general trying 10 10 I'M
possibilities in the shortest space Of time Under sueh
q pJocess the banks grow weaker and weaker as de-
posts melt away and their customers and debtors
break down under the pressure of the contraction
screw. The next phase Of the panic would have been
tbe withdrawal of coin by depositors, and Of course
susreron Of specie payments. The reverse action has
had precisely the opposite effects and although the re
rnoys Of dsrust and the restoration OF credit If graz
nal there is the most satisfactory proof OF result
which iustiies the predictions of those who LED on III
This bold but intelligent. financial experiment =.
The following is "a statement Of the movements Oh
Cotop for the lat week and since Is September LAST
COMPARED with the FIVE preceding year,;