, 1861-05-13
The following are Messrs. Thompson Brotht
quotations for CURRENCY:


I find In your paper Of the 9Th, two articles On
currency, signed '-Sonth Water Street," and
Merchant, and as this IL question next In i'm
WHO'S country, desire thronsh III The colu1a1s 'e Of
your paper to say few words il answer to both.
will first cay az no friend to an irredeemable
currency, and would not n ordinary times have
not ordinary times, and we cannot, az Is asserted
by some, get better currency by asking for It.
Eastern Of Western specie paying banks are alto
times, hence we shonld not be able to get any
thing that would replace the currency We now do
business with, for some months, unless perchance
tom or Rhode Island Central'' This has been
the opinion Of most Of the bankers here for some
time, and had thus feeling been general among the
occasion fer the late action Of the banks, The
truth was, that many Of the heavy depositors we're
doing very much to destroy confidence IN the cur
1ency, and the banks 4 taking the ground that al
their depositorE, II you will not keep na, take
care Of your money; we will not do your busi-
ness Now, ask any reasonable man If this Ii
coercion? believe ii consistency with ali men,
ard when I ask 8 banker to insure without pay,
what win not insure for myself, 7 am not doing
as would be done by. The question is asked.
with exchange at reasonable fate." IansWer,
they will, # the merchants viii let them. They
have established the rate at ten per cent for huY
ing and selling. and II the merchants will no: 60
into the street, and on Change, and bid upon each
bther, they will be able to furnish al the mer-
chants want at much less than ten per cent within
ten days. It is tntimAted that the banks will not
pay ont the better class OF the currency. Does the
merchant depoaite such Does he not sell to street
brokers all but the poorer elaas! +! and would 1t be
wisdom for the banks to furnish their enemies
with the material Of war 1t is said that the banks
send runners into the street, and buy exchange at
eleven and twelve per cent. This do not believe,
neither do admit that they have any amount Of
exchange to draw for and deny that sight ex-
change has been made for any considerable por-
tlon the shipments OF the last three or four days.
Now claim fret, that the currency Ia better se-
eured than any that We get in these timee Second,
that fair degree OF confidence, and uuaD-
unity OF faction will make it perform well aud pros
perously all the business of moving the crops and
paying the debts OF the county and city, besides
keeping in operation the various manufacturers.
and thus giving employ to hundreds OF laborers.
as 81 the banks are specie paying, their bills
must haye tho confidence Of the public, or they
will not perform the busIaesa oi the
country; and I Am free to say that If any
portion OF tho hanks arc thrown out
the confidence in all will be destroyed; the
consequences Of which would be the breaking Of
, many OF our Chicago banks, the imposeibi1ity of
moving the grain crop for at least two months,
: complete etop to collections in the country, and
large portion Of tie merchants. *nd throwing out
OF employment Of nearly all the laborers of tho
city Iappcal then, to all who have an Interest in
the prosperity OF Illinois, and especially Of Chca-
go to reflect, and let reason and jast pride In the
prosperity OF the Northeast govern them, and the
! Tar on currency will be ended. We can then fn1n
our attentipn to the other VET, with promise Of
, more honor than warning against the vitality Of
=, anr OWE prosperity, CH4g. G. W1eKEH.