, 1861-05-28
MONETARY.


w kAE a%108L2AEQ( &f1QG TO the QHT
basis that has been adopted. The railroad stand
ard Of ralnes for Illinois il ssi adhered to bys mn
3ozty OF Dealers and wc learn from Railway naans-
gers that they expect At present to adopt no other
But the action Of few ce1ax brokers who are SELL
ing exchange at 10 per cent, below It, has rather
unsettled matters. It is to be hoped that somebody
will make money BY reAfing this currency and
converting 1t Into bonds; but to see some Of the
very men who have cursed the community BY it.
suing millions ofit, now making q little, fortune
every week out Of the fears Or necessities Of thb
people, tests une'a forheazanea to its utmost ca
paeiy They have It Il true, acted within the pro-
vlslors Of the Law but there Is "a higher 1aw't
whose Judgments are not regulated by the NILS.
takes OF tho Willy legfelation at Springfield and
according to that they can scarcely escape, The
Ta1BuxE, In months gone By, faithfully warned the
| public against their echemes and now that they
are reapng fortunes out Of them the only thing to
Is fot III to bear Their 1oeses as best they
can. 20 ~"
* This afternoon 3 List WAS circulated headed
"AznenAN1s' LrsT,'' reducing tho prico Of the
bills Of the banks On the railroad list 10 cents on
The dollar. VIC consulted with several Of our
leading merchants and found, 70 fhr as they were
concerned, It WAS Issued without their knowledge
and consent. They proposed to adhere to the rail-:
road list for the reason that at the present price
Of bonds the fates wercl low enough. As long as
the railrcads take the bills at these rates for
freight, the Board Of Public Works for water rents
and leading merchants for goods, they will "go.''
In this connection 1t gives US pleasure to state
that E. L Tinkham, Esq, at the request Of mum.
her Of our leading citizens has consented cstab
lish for the presenta =; r..
CLEARING HousE
for retiring Illinois currency, where holders can In
afew days or wceks at most realize exactly what
it is worth, less q Email per ceataEc for com.
| missions. This Office viii open this morning at
No. II Wells street, in the zuoms recently oecupied
BY Geo. Smith & Co.'s bank Mr. Ttnkham has
been 20 long and 70 favorably known in this city
snd the West as banker and a gentleman Of the
highest integrity that he needs no recommeuda-
non ht onr bands. The plan he proposes will take
Inc WIND out OF the sails OF horde Of hungry
ehafpefs, and afford the people the mcans OF get
ting I'D Of their Illinois currency for al 1t is e1th
in The market.
There Was very little doing in exchange to-day.
On the Board Of Trade 1t was nold at 5 per cent.
premium for Indiana Currency, and at IL discount
gold. Some Of the brokers sold ut 10 per cent
pfem1nm lot Illinois currency at the railroad
Ta1uee. :.
s @'s s'ttnnR WILL oepositoFs as last
a. so iar as We ean learn an anicable
Of the banks as offering to depositors 85 ceuts On
the dollar in coin, on Of conrse fair average or
his deposits In Illinois currency. Some accented
one and rome the other.
Editors Daily Tribune:
crvrs- WI, vor x,,n,., .n,,..
Wisconsin currency that in taEen At 1or ~ Mf
Eaukee will be received, is now received, at par
- vueaso. R-C.
' uta.Ae' ioe 'ne past week OF tWo has
eeeu ~ nnsettleo taat no reliable quotations could
80 g. ~ "'seonsin money. AS everything
~" 80 .suaeeu " coln slanaaro, 1t would not ba
a. ps5' ne nave Aket II at 10 per cent. dis
eouI lot ne last tofee OF four days. and shall do
~ ,ons ~ eaa Dc converted at present rates
=. 11"n ~ nuAee' re presume the current" Wis
eousAn ns1 "oaio % TAKEN at about 10112 per
eepa' ulAconn1' AS coon as matters assume
more oennl'e fhape' Wisconsin money will ap-
.' raoa-A os@ses tne 1ates fnltng Tor exchange In
-.N.. !ne oe'9s'"es oi th1s morning, quo
44s eno u4a'As' LOT SATURDAY evening, says:
nnehsnnss e9nunnea ~ s. nIm today but nomtnally
could e5ase at ner eenf 11rogn Guztomsls a. they
at the banks were 6k@7, but they dia Int eef
imaqSh' M as sellers found customers enough outside
iarse transaetton n' Tor small sums. In
reTf rsta TTnha,..z9 - LII oe cputloered me cnt-
in The ma,ntensnca - }nomeaet' nafe no confidence
dass and none ~ theIR y, R1sseat Iaies beyond few
tarn cm9 Of ,s haree t their buyieg rate to not
Of AM earlT DECLINE Tsha d.and tas M taolcatlo4s
good and hence there Il M nhect IL LOT endeneJ
Uacaent Wipenns;n 'a. 1ono o9e5 ntus or no p5oat
cent: the brnIe1s snd aore ~ n4s @ @aasancea per
buying It at &c On the 1oar VI 'ne oaesesa are
come OF our bankers had reports to-day that
there WAS "f2re up', In afi,wantaa a,a ~
change had rome mn IN ~ mr. ca1t ~ a a.a eN
give 1t AZ 1unor, which tomorrow morning may
confirm CT d1ssipate.
s1ocKs.-This evenings closing Wall street
rates. as telcsraphed to F. G. saltonstall & Co..
No ~ Clark street, were as follows: New York
1en.sa' ~ saieha, q; Rock leland. s2x; Bur
lng1oa d Quincy, o44; Illinois Central, 67K;
Tennessecs, ~; Misaouris, 414; virginias, IS.
SOUND BANKING. /
Nov lint indescribable eyils ATE upon US, grow
Ing out Of our loose syetem Of bsndng, it Is well
hv eooont =, -. ,.,lf., ~ suss Aie enioseeu
~ soseut tae.s "n,en ON people VIII not be likely
to forget: The following paragraphs taken from
c,o.,1v ,na snaa.,. ."ss*s.ysesF' Fel'esates 80
..eA's a." eosea'9 LIS S1e"a often expressed In
these columns that we quote them with pleasure,
y A tt4eo " LIZ care1ul re-
11...Dee -,D ~ oai 1eauets: ts:.-....
=, n1I3uz e r.. t*st Sao n,ysI proaLap1c bysrem
~ ~ T. Ia. 81 NeM yileana; The bsnks Of
may eaty afe compelled, bT law, to keep an amount |
the 10 Of he liabilities
fttx - 9g ~ o ~ Ies In tae bank vaults about
- X - - ~! " ESAt. ~ epecles N New Vrleane,
"a na+ '9o' e. eaalMement, M INC banks held Sc
mstnH ~ = - G & aa1 ~ pel cen! n exchange,
Thie 40 pea cent. o. assets available as CASH
ia.s nis ge speeaa feseIve enables the New Orleans
LILLE H. taeat uniformly
-uusa Glsh I. ae sAHe as dut1oE prosperous
ta es, Huo ~ is !nposslpet 70 cause bank suspen-
fn, h.uI ~ slsea7 pasueAts unaef taei1 system OF
paHaahg: TadhgS
f,- hs1k o.a,e nsro ~ use as oasa oi security
es Of bank currency would then be directly inter |
es1sa p H. 1@paong @ tne state Geyernmeats, be
depeud upon tet @ ered{ ~ aaa property you'd
mand for these stoeks as d basis for banking.
would prpyldca permanent market TOR them. e1.
nance their price, and prevent their being forced
upon the market at low prices during \ cr7sis. If
Missouri, Virgins, Tennessee. and otber
slave state Etocks had been held only in those re-
there would have been no disastrous iii ~ nris'
and no Reputation or default In interest aid NJ
excessive debt as in the case Of TIrsini. r. r. MI
n0fs had held for banking uueeis sfnra 1es- ara.
third ofltabft1es in specie and bank nntcs s,cn
BY Illinois State and United St.tcs Gnycrnmert
would hare rcceired heneft fnsaod 1un LIMOS
the war. 3''-'~'e>' y 4A'D4' 44o1A
The products OF Illinois are paid for in spec{c hr
New York and Europe and that tpecle hefnnrs ~
and must necessarily be paid to ufinois uness ;ts
eRn folly permits payment In depreciated bank
Goses me new Illinois State loan and The United