Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1861-12-20
rHE YANKEE PLAN FOB RAISING THE WIND.
Gnou Mes York Pspefl

The plan Of hnance proposed b. the Secretary Of the
treasury !, under consideration By the senate Com
ms,ee on Finance and the House Ways and Means Com
nittee The Sec,etarys views laid dosn in this able
ma Z: ns ~ B.cs. IS. Com
ni,see together 9th carefully drasn bill which Il 4.
though, .ip not only inset the reqaseu.n Of The gov.
.rnnent but the general approval Of the country
Greater rdvautsgs to be eHrsd 70 the bsnks and
banking associations than they nov POSSES. Trs IL il
proposed 70 secure 10 the country currency Of uni
Serss value; aud second 70 obt.n large deml md for
government bonds Il Is proposed that bureau Of cur
sepcy b, estahlshed 10 tbs Treasury Depsrtmeps su.
thofI,d rsivs from ell the banks bonds Of the
ted States deposit security FOR The payment ofsueh
bills ss the Secretary shall certify received 10 the
Treasury. fhoss bills to be made payable by the sigma
.ure Of he Cs1es or President ., The bank from whnes
they bs Issued, in coin or demand ness The benefits
Of this provision 70 bs opsn 70 oil associations for bank
ing pun ss NV existing or hereafter to Be organised
70 sdd 70 tbs Inducements fos investing in the govern
msnt h proposed 70 receive and pay out through the
gosefnment sssncis che notes OF such banks have
cured their currency By d6poit Of the bonds Of the
Unied ststes 10 the Treasury and TO induce oil insii
tutions se ones 10 inve,t their shos capital
in these bondz the Secretary intends TO such bank
ing associations - 6.cAl agents OF the governuent With
posef 70 eoiic. oil and other dueI coming 70 the
rovesnuent and wish authority 10 receive and pay
al bills thst ere seeured in the Treasury bill to car
~ gu. oil these obi sos embraced Ia ths Sesrsarys re-
port 10 nos before the proper committees OF the too
Houses ard oil probably b. reported 10 few days
Such BILL It il supposed vill enable the Secretary 70
ssssia I'll he money b, requires for 20 ysss beadA
Prom he S.s Tah Hssls, De. IL
The report Of the Secretary Of the Treasury 10 The e.
eiuyvs topic OF ion In meeaatis and AnAnc
circles OF psrsons Interested Ia existing banking
insiu,isns do not relish the Aa Of hssing TO rsdss
,bes pressut circulation in CON- aud t1sa send -
70 Washington 10 buy stock 20 basis ~ -
ssuss IN New EaslInd the northern pars q this See
and o.hss sections Of tho NORTH Mr. Chasea pen ON
~ 9th dstetinsA opposition from tho baokers a.
tho eafsty Tand banks ia this SAFE . quarter Of
century or more sgo Ia course u ime, hoseve- the
obynus sivsntg-s Of uniform aud perfectly secuv Pc
Der currency gill ontsegh ell the objections Of existing
backs sat she pspabe merits OF the free banking
sIsts oyeybore the asameus OF sbe sAfey fond bank
ers Ar, hosevsr the consest gill tahs ,ne. corsdefa
bl. ausisty fe With regard 10 she methods By which
Congress gill meanwhile. provide money " carry the
war; NJ Chase rcqiirss 10 round numbers, 600 900,
600 betseen this aud the Ia. Of July, 1888.
Il thi, report be merely states thit els money NUT
b. Obtained "by loans" ID does not indicate pset.s-
snos fsr any had of bad Treasury over any
Other hs sIyI nothing chou; the interest which The
eoesssseat should pay--in ~orl, leaves ths shcle
sues; &c Cons,esl Many Of our lad bs1hsfs seem
borrss 600 600 900 gay e35 Co0,0O0 month f0s
eighteen moa;hsbsicre jelly 1863, o. On ordinary ssts
OF interest.
re Aaaks 70 dAy ead into the Sub Treasury q, os5
CSC 10 esli, ans dse.adsa sses being their kls. pay
taeni % sco,uat q The last loan negotiated ~ nr.
Ohass Tia aggregate proceedings Of TIC negotiation
ssFs zee OSS $50 and todys psyneat leaves 90 o00.
oe0 sab ct 70 tbs drsh of tbs Secretary 0dsss have
sess resolved tao sub re.ssrss Of Dossoa Nss York
and Pasieipha 90 al Treasury notes bearing
ds,s Aug 49, the public having ABSORBED about ~ OCo
90 u thtn.