, 1860-01-05

Currency Mistaken for money-"No. 3.
oehese IN lnol''ooai eNoft ana 'nnueoce 70
correct NE monstrons mlstaso o1 mooern soel-
sts, 1nat g1F1n8 general currency 10 ofo1
naEes 1t "'on:y-a. m,stake snat mas oe.'fo5eo
luz peace o. m'oo ol more men, o'o1ea up
nose eoou los'uue' aaa so'a no"ee' auu uou'
more na'sco.el, eenesa'1y III 'o's soonNt3, 'uau
ao!y otner 'nnuence "ns1e'er' say "ns' :
kno" "hen i assert tnat II eFeases "ofee taan
useless oeos' aaa then makes It's payment III
possible. Every ooilar ot oeos currency Is
''cSet OF lease 10 q ool,ae o1 goio o, sll'ef mo~
icy: luz on's mo"ss .nA' W. p'' oeo', "Au
:s ee''nsa'e o' ''s loss; tns 'nlng eanno' re ..
p'o'eo "''nou' a" a'7o'u'e .''' VI ."P"a' ~.
Aon's - ou sq1at .A4o3u'
'o"s 'na' II noses are 'equ'reo 'of pot'aoteae'''
&no paoA eseo''s 4of salets ano LUZ eou. eu'euss
OF oat!y oemaho 10 save tne transfer o' eo'p'
tue com must Iemaan IN reserve 'n'ne cone's
OF Inc oanS' oonar'ot oo11a!' aga'ns1e'es5 e'f-
eu'atang note ana unofa"n 'oan. 1ae elective
CIRCULATION OF com Is IN IT'S ownership. anu an}
attempt to circulate Its o"nessh'p, ana 1ne coin
''se'' ~ tne same time, oe1ea's ''se!'' u .aa
only result IN Tue u'te' loss Q! 'ne e''n' so!1t
as We are concerned og 'aro"1ng J" iof no'o'ue
INTO the nanos ol some o'ne' community qn "no
Psac'fce no s"cn 1ohs, OF less o' H. re e@""''
eot our ed1e o"o Aaee II LOO.
nls ooi5 "eM1n5 Gull to1' s0u .uaAs
IolS loss ""nou. pelns fulnea. hngiaaa aoo
toe oh'eo ota'es' ny iooeial'g4o'e luoof'
accnaao'a'c VAST anioan' u eapt.ai auu
wealth, 'a'se poruon !" "n'en lucy
convert INTO so'o ana s'!Fef' ano toen ous5
tnemseises 10 Inc utmost IN e3peAog Tue mo-
1t! potuon u Il ~ 'ue osnen' u sauee unu
Aa'u' 'Hose fes'o1s aFe 1nefea7'ns 'uel' e1'
po''s aeeo4oinsS' Aoo afe feap'oe aa t'n1aense
e,,' :. '"o ss~e0sou ~ eAp's. t' ~ naa naa
'o1'' As''' = 'as'as nute 'uau eioo'ovo'oo0
pe' aa"o4' uo'.5 ~ s"'s', ~" u,a'u 's~s
:. .'ol4 'ne IuNeo o'a'ee .au 1n ort eo'o
's"e euaDseo Ao1 '"'eA .'.n ~ 1'u'ops'
-. 80 - e' n.y.
oe~4>'e - 10 7''A's' 'eA"''e '"e''
- f'
"'"'0 oe'e wa capital @no 'o'o oAAA'
'1P.e''
lne ''o''oi ~ .uc eu''eAes nas improperly
'' ~ 10y ] eu e. uuso"1.''..'ou', 1., la.,eu
wv 80. '''l'ao " ~ @'e s's44suo 80 ~ ''''
'' A' ~ WYNN "Pfe@''
~ p - ."' "
-,,as.s ~ - as,:ar .,,.s.rs w.. - ~.
- c:-.:-:,..,- :. ~....,..t~-. - L.,
-, 49,, ,o.,1 ,'... .i -,
.,,a.a,. {. n.,,,;s, e.. n,.'1. .m;.,,
,s.ia .,.;.a, - -o.as. .,a,ss.;.. rs,,
q. ~ sao,,r. ,,o ,,,hi;, eaaa,o ~. ,.,;,.,.o
IL WI =, oo;. -, ,,..,- - ..,o;-. a..s.aa;. =.
-....-,.,,- -.:N.-,.... sNF:.,'
SA' "a''e W o''P"'"As" %'"s' " "A'a ~
we ~ ".lua' -" u, so,ue ea, ~ Ao'anse " sus
rass 1, .h.. .,a 49,. .s:,. ss auu' '1n, ~ ~
.:. -. .s,;a. ~. .aS,s,ar. sa1..s 49, -
-:A:y.N .r.,':r.s - 5a-.a s-:,,Is...
80 ~ :. -. ~ ~. 49,
- ,,a. H. ..,.aaeo ,u1,. ,. 49, s..-uo.a,.
s,,s',1, ;....oS. -. -. - as.pe.t 49,.
..o .,.a,.,,a1, ..-.d ;.a;,os.,., -, -. ,u,
c,,,;,,, d.; v;,torsst ~ -, d:,os;,. i. accord;no
=. .;.na ,.,a s,,.,,a. ,a+o -, ~ stortar t;,,a.
.han 1ond NJ nr,at on t,e rata If ;nteroxt br
.1:s.....:., s.t:.a ..,,,,a..;a, .,a.a. ..l a.;
al t
-. ~ 49, 81 ~. ;.s"oae.
.;s...o. IS ;,..ns;, for ~ Inv donon,;not;on 90
So. :, ..:-..:. -
:, ,,".'r - 1.4
~.
and long loans, that the circulation OF com or
COIN cert'hcates may De al actlse Is possio1e.
ta'nk this bank IN the hands Of substantial pre-
prlctoFs, would yield handsome pront to;'hsm
and vast nenent 10 thicago'
IL Will oe opsesseo that eap'@at "op!a pe en'
ptosea III 1h's oanS-.ne present savings oanks
ha'e none; Set tnese oanhs "lth no capital o.
tam pubic connoenee anu 'as1 sunS ou oepos'1.
believe lie deposits IN the Savings BANKS OF
massachusetts, amount 10 Sv5,ooo'ooV, ana lucy
operate largely 10 Inc expansion o1 tnc oept
currency Many ot them are o'rec1'y conce9n-
Cd III 1he oanSs ol issue anu suo9ec' 10 tnear
worst r'sk' that is to say 10 tile rsk OF s'ock-
holders WHO are oonnd 10 Inc extent o1 theif
stock to loot al' losses. as to tue element oi
r'sk IN soeh commercial paper rs Is a'seoanteo
In the banks OF the cues II IS "aen smal!er
thnn Ii generally SUPPOSED; II IS SO sna1'' sn-
deed, that bank stocks are the faSorlte and
profitable Investments IN most OF inc cities OF
the United States. 1t is said By we'll informed
bankers. that the average loss By bad debts on
the loans Of the New York and Boston banks
does not exceed one-tenth Of one per cent per
annum.
There ~ oo''nss DanS IN nos'0o, WHICH was
commenced On d sna'l scae ABOUT i've years
ago. ca'iea -.lne rive GEMS Savings banA'
"nleh aHeaas mas oePosl.s 10 Tue a'nouat Q!
s.'2Ve,'Vu' thlnh, 'neiclose' Iie es''"a1e VI
s1'''',oo' oeP'sl's 'oi DANA ~ eu'e"so' "''~
e"r1'a' 'o' sfea'4ty' 'na5 w hooe'a.e'
en'"'o ieeou.t'eau, a'so' Ae.pA'e A"uA'"s
casa account "1'nou' interest," I" Pfoa'o's ~
ae.''e e'feula''on u .o'p' 'ue "0'A .ou,0 W
pau. lo'' pu' as tns oa1A "ou.o Nv 4eno Wv
LUNGS IN mana On 'nose aceoun's' 'ne p"smen'
must DC mace oy commission Oh 'ne satt's
transferred or like the bahk OF HARRISBURG "
certain charge Tor each page ol entries On Tie
bank book.
A Bank organized upon this plan could
scarcely fail OF becoming popular Institution
and 1alylng point Tor the friends Of sound
currency. There can De no doubt TINT there 10
general dlsfrust OF tue present system OF
banking and currency although 'e" persons
lake paioS u 1nFes'i9a'e IL d WELL louaueo
op'A'.A P4e' '4' "