The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-30
HERALD SATURDAY, NOVEMBER 30, 1s6l.-TRpLE SHEET

cago, NIX q 70; Cleveland and Toledo, 3i% a
3dIS; Chicago and Rock Island, 64ta 5iA; Chi
cago, Burlington and Quincy, 59A co. Della
ware, Lackawana and Western 65 a.; Milwaukee
and Prairie du CHEN, 30 a 81 x; Illinois Central
bonds, rs, 81 q SO; Delaware and Hudson Canal, "a
80; Pennsylvania Coal, rs a..
The forthcoming report OF the Secretary Of
the Treasury will be read with unusual interest.
u is understood that ON the subject of the
tariff the Secretary, after laying down the gene
raj principles which ought TO govern our financial
policy In timo Of peace, win show that, in time of
war the necessity Of outstanding the specie strength
OF the country compels departure from those
principles, and win recommend not only that the
high duties Of the Morrill, tariff be acknowledgment
in GASES where they were evidently established with
view to protection, and not revenue--but that
the duties now levied on articles of luxury,
manufactured abroad, be increased 80 as to
reduce still further, If not wholly to prohibit
their importation. Tho country does not need
the silks, laces, dress goods, costly carpets,
jewelry, fine wines, &C., which we are in the
habit Of importing from Europe, and during the
war We cannot afford to pay for them. A pro.
hibition duty levied on such articles, a. war
measure, will furthermore have the advantage of
teaching the manufacturing nations of Europe that
their interest, like our own, 10 inseparable from
the success of the United States government; for
until that success is complete, they will find no
market here for their goods. The war ended, Mr..
Chase will probably intimate that sound policy
would require the enactment of strictly revenue
tarif--that Ia to say tariff imposing on foreign
JxA:o~ s~1A a.
and levying duties upon objects Of general con-
sumption rather than upon objects which can be
made here. The necessities of the case dur.
ing the war secure to our manufacturers all
the protection they are entitled to ask. With
regard to the currency and the public debt, Mr..
Chase will probably enter into . review of our
financial history, with view to show that tho
provision Of the constitution comforting upon Con-
gress the control Of the commerce Of the country
has been unwisely allowed to fall into neglect He
will probably recommend an inquiry into the &C.
tual powers conferred on Congress by that clause,
with q view to discover what remedies exist for
the case Of Northern creditors who have been de-
fraQded Of their just claims by Southern debtors,
acting under pretended acts of spurious bodies
called conventions and congresses. He will dis.
cuss the subject Of United States notes. payable on
demand at the various sub.treasurics through
out the country, and will probably show
that II would be great advantage to
the fair trader IL the internal COM
mercc Of the country were carried on with the aid
of such currency, instead Of the deprecated and
always uncertain paper money issued by the coun-
try banks. We are inclined to think that he will
ask for authority to issue $lOO,o 900 of demand
vnfo NH I'D Inv
on the circulating notes Of banks entering into
competition with them. He may perhaps deem it
needless to soy anything by way Of proving the
soundness OF a federal currency, though 1t would
not be out of place to remark that there mnst be at
the present time about 800 900 900 more specie in
the country than there was year ago, and that, as
the present circulating medium Of the North owes
its value to the government stocks which are depo-
sited az security for its redemption, currency
which is in effect government stock itself must be
at least az good as the best bank notes afOat.
With regard to the public debt Mr.. Chase will in
all probability conne himselfto very careful csti
wat:s Iqfah aeasRds on ths duration 9t the
decrease, a. the country is getting pretty COM
plete supply If material Of war and military
equipments. II the government assumes that the
contest may be protracted beyond the winter, q
vote Of $3.50 900 900 may be asked for IL the mill
tary plans justify the belief that the rebellion will
be either crushed out or closed up so as to die ont
of atrophy before spring, an appropriation Of
$50 900 900 would probably suffice.
The business Of the Snb.Treasury was as fol.
lows to-day e
FOR customs. OBSERVATION-DISCLOSURES. $4,000 90
-fOr lTeasHIY HCteS. IUO,SIS 10
Payments, including redeemed p. notes 2.se3,o34 80
baahce S,obi,7s2 n
The exchanges at the Bank Clearing House this
morning We're 24353243 4s, and the balances
II TAI 1896 As. .....
The statements Of the banks OF the three princi.
pal cities Of the Union for the last week compare
with the previous one, and the corresponding time
of 1850, as follows:-- tss.
ZodNs Deposits. SPECS. Circulation
N York, Nov IS $l5s46s6 isS35ssA 46s0S3 1905 so5
Boston, Nov. 49,. g. l0S 23S5135l 75SQ23O G3g2
Paila. Nov d.. S0lslsl 22s69Ooi I1Nl05 s234 SS4
Total $2s2 9Ss s5 I79a.2zc7 1915 4 49, SO