, 1861-05-29
MONETARY.

A~+@N5 A19 9NA0WA%kS aQAkEug AuQ PEOPLE HCSm Ols-
poeed to take matters more quietly. The great
bulk OF our Illinois currency is dead past hopo;
but the question begins to bo asked, will not the
best bankH-those based On United States and
Northern etocl1s-nake good theie securities and
retain thelr charters1 Now that 10 many Of tho
"baser sort" hare gone to tho wall, their char
ters will be valuable to thelr owners, some OF
whom are responsible men, who hare their margins
as well as their charters to lose. In few months
more, under the amended law. they will be forced
to redeem In this city, Of In Springfield, and TIL
that time, If their securities are made good, they
would readily circulate at such rites the neces
stiles for currency and the condition Of the Ak
charge market might regulate. We state these |
facts as they arc, and people must Judge for them
selves, as to the proprety Of sacrificing the bills
OF those banks which are based On Northern and |
United States stocks, and have responsible parties
to back them. Their pieeent deprecated condi- |
lion Is doubuefs being improved By the owners Of
these banks to buy up their bills at discount and
by Withdrawing them to mako their securities
good.
For the stuff that has no owners and Is based
on Southern stocks. nobody has any respect what
ever. Neither should anybody have any respect
for any of It If the securities are not speedily
made good, and, Us eoon ~ the amended law re-
ouirss it. is not redeemed either in this city OF In
Eprinpde1d In coin OF in exchange at reasonable
.at.. -r ~ -. have no ,norc ..nromtses to nav,
a.h.n ,otoa~ ,s resnonsfh,e for the fn,dt,mant n,
.h,t nromfee.
NJ I,3,s,. and other pooa enrrencv Z. max
f,o ia snnearanee IN the channels of trade. An
mi. IA 1,e a1nected, however. the Improvement fs
21ow. md the Inconvenience Of using our seces
eton cn,rencv at railroad rates ia stu Beyere1v
fs1t Let our readers while handling other curren.
~ sen It c1oee1y for while our Illinois rejected ia
worth 40 cents and the poorest Of the stump
tafl,, bo cent? on the dollar. efforts will soon be
made to pasB of upon our people that which Is
abaolutelr worthless. The State Banks OF Ohio,
Indiana. and Iowa a,c-eood and for the time being
ehou1d circulate fteely but tho time Is not dis
tsnt when our merchants shonld sternly require
that their notes and tho notes OF all other banks
khou1d be reduced to I specie standard. Chicago
il tho great commercial centre Of tho
Northwest, and her merchants should
demand that her business should be done
upon basts ofvalues that is unchang1ng. AS soon
as matters become little more acttlea' on mer-
chants shonld credit their customers only LOT What
their money u worth N coln- Let taem 11glaiy
adhere to this syetsm TOT three months. ana II
never a1ter "ould oe cnaogea. ealcaso "ou" w.
come inc coeapest ma1kst III tne 01ssss'ppt sal-
ley and control It's vast trade 1of All s1fne' heal
capital "onld rapidly accumulate. ouf merchants
would become princes anu Ii a1e" generations
ouf baoks "ouln s17al tnoee OF NEW 1ofx III tuc
amount OF coin theg "oula nold- -.. ..
I'LL our merchants and business men require
1nels customers 70 conseft tae cus1eneJ aae5 pa3
them into specie tunds 1t VIII be scarcely possible
Tor the Marine bank7 and ether CITY lnstifat'ons
that would be established. to Issue any cous1de'a-
BIC Circulation. The currency Will ineYita-
BY drive the bills OF the home banks to their couu'
tefs Tor coin. Tho BROKERS' that hungry horde Of
ha1pies, who prey upon our hnehctal and CONNER
=. tssr a.t .hs.s 1.s, ' 81 -
~ N.ns' ses suen g"n' ~ - s-.1.-. ~. 49,
heEe to specie bas,s IN tnelr tfahsas'lons, tne
st.,5 ~ nv o.rn Co;n pon1d accumulate hers
stesa .. ool o"n. eom "oaio aesuato ss!,a nste'
a44 nanes np sse "a l' OF the a pes
t'oa Of The Mo- North TIVE West - ~ u.,. ..+ =,
= T,nthsm r.. ons,ed 49, tod,v - nro.n.rou.'v nm and
41ss', eFs11 -. f.Sse1s1 ~
ness public, The precise pei ccntage for convert
1n1 hoo mt r,t hen determined bnt Il Ia tbonoht
- s-'.s as ~. W, sa.as ~ ssas Tha
~. h.. ascor+.5rod ths+ - ccrts,,1x ,r,11 mt hc
ees Aaa aeo 'l'' ~ ~sA'A'' "'1A '10' ~
49, 49, ~ Tusaa +o. asv n,oro bns,,eo, v,s
.t,oa t,,a ~ r,.~s ,x7or ~ th,n1,.
WAs fnaugurated Exchange on New York sold at
mar nk ner cent nreu,fuun for Indiana and Iowa
| an.~rn.a,a ~ 1e@,,< INV cant a,ar,rrt for r,in
| .,.s- 80. 49, 49, ,,o-.,,- IL a.
y ~. s,o. ..as 49, hoaan.s 5000.
esoss. Is -. s.so 81 ~ Easr " -.
qnu r,. 4 $3.50 1,t,,s ,r
.1,s- - .-aha.es '',. ..s ,st,. .hsr, nno+,.tona
| Ns - N1~aa s - ~ s,,,as -..atsad
"o9.4 W 4 I. :. ~ ,,.o,.,1,,.,
50. eo4A sue, "4o ~ 1s - -, 49, 49,
4,..- 49, 90 1'""0
"1,a ~ 49,, ,... ,. :. Az