New-York daily tribune., 1861-08-12

change Of views upon Government finances. Mr..
Chase made statement of the condition and policy of
the Government, and what be hoped to accomplish.
He stated that the total public debt including Treasury
Notes was about Gil 900 OOO which is less than has
been supposed. He proposes to make use of the
amendment of the sub-Treasury act, permitting he
Secretary leave his funds in bank, instead OF depos
iting them in specie in the Sub-Treasury by giving
each bank an unnegoabe voucher for ts subscription
TO the oan and then drawing pro rata upon the SUD
scrbing banks when he needs money, and issuing an
equal Of Treasury Notes in stock, bearing inter-
est from the date of the voucher, and not the date
of the Issue. This is the arrangement we alluded TO on
Saturday, and gives the banks fair compensation In
extra interest for taking the Securities at par Inc
wants of the Treasury for the next thirty days are
about $4,000 0O0 of which the Secretary proposes to
obtain fifteen millions in New-York, ten millions IN
Boston, and five millions in Philadelphia No action
taken in the matter of subscription but the ques
ton came up at very fnl meeting of Bank officers,
held on Saturday at the American Exchange Bank.
Mr.. Stevens OF the Bank Of Commerce, was in the
chair and Mr.. Coe, of the American Exchange Bank,
was Secretary. Mr. Chase came in about O'Clock
and presented his plans to the meeting The feeling
among those present favorable TO extending
liberal aid to the Government, and one paFty was
ready make united subscription for one hundred
and twenty-five millions at once 10 be called
for as needed, thus controlling the whole ISSUE
The Willingness to subscribe was not however,
universal ard few bank officers stated that they
could not increase their Line OF Government securities
while others desired time TO consult their Boards Tie
matter was then haDced to q Committee of ten.
10 confer with bank officers in this aud other cities, ad
report to an adjourned meeting on Wednesday The
Committee consists of John A. Stevens, Moses Taylor,
James Galatin, Thomas Tileston, James Punnett, k.
w Howes, j. ID. Vermilyea, w. NJ. Morrison, John
d. Jones' G. s. COe, and will hold meeting on Mon
day Mr. Chase stated in his remarks that his right to
issue y cent Treasury Notes nearly exhausted,
and that he should probably resort to the $50 cent
TO pay contractors &c., and that these, as well
az the 730 3 cent notes would not be received for
public dues. 1t is generally believed the Secretary
will obtain what aid the Government needs, but 1t has
been matter of DISAPPOINTMENT that the Secretary
should have held three meetings with our bank
officers and capitalists, aud should have accom-
plished nothing but the appointment of Com
mittee. Several of the banks were ready on FRI
day subscribe to the loan 10 the extent OF one guar
ter of their capital believing ii the true policy of the
banks TO swim or sink with the Government, but
others were hesiating and disposed TO try the
experiment Of swimming if the Government should
sink, and thus hamper the action of the others We
find there is considerable opposition among the banks
TO the Demand Notes, calculated to bring about an
imitation of values by largely increasing the value OF
currency and also, for the reason that they would ds-
place more lees Of the bank note circulation. IL
does appear that there can be any general ae-
ton of the banks in regard TO receiving and paying
them out as currency. When received, many OF the
banks will send them TO the Treasury for redemption
The Bank statement of Monday will show a further
contraction of loans and increase Of specie which is
now 53 T. cent Oh the amount deposited