New-York daily tribune., 1861-09-06
TIE WAR FOR THE UNION.
rmorz wAsxyINerGN.
TIE National Eaan,
Of ghs N. X. Tribune

will DO sent ont to-day 10 the places selected ior
tho establishment Of agencies. They WIZ Do
opened Mt 500 different points in the ioyai
Stases. From the indications thus far more thaa
She cptiro amount called for viii be taken before
Tho expiration Of TIE fifteen days allowed by Ia"
OR receiving subscriptions. Up to tho prefeH'
sme, although no notice he's been gwen oi lDe
readiness TO receive deposits, the amouhI V0iuh
tarily rendered aud paid in has reached the gun
OF ONE MILLION AND SEVEN HUNDRED 'ho''
SAND DOLLARS, Yesterday million dollars was
reDaid % the AssociaCsd Banhs, sud to-day hsii
a million more will be repaid from tneso Ut
posito.
Thero is no reason why the whole amount re-
.u;r,a for the maintenance OF the Government,
and thu syppression OF the rebtliiOn should not
ne Furnished by tho people. They must in the
and, pAy, not only the interest required LOT ior'
siep loans, If any are made, but tho principal.
why should not the largs amounts OF gold, which
Uonld be semi.sunualy withdrawn frOm our own
srcula,ion or from tie Sus-Treasury or bank
vaults, and cent abroad Tor the payment OF in-
tereet, be 6isbursed among our own people
The rste of interest, 2 3-l0 per cent is higher
shan the average of Investments, even those OF
doubtful or contingent value while the National
loan IL based upon an assessed value if sixteen
sb5usand millions Of dolars, ali of which is
slodged to its payment. More than the entire
amount, which in oDy possible event can be re-
4nired By the Government, is lying idle in our
own country, owing To the contraction oi bu'l-
ness OF every kind. A general Investment III the
Rational Loan viii at once find employment iOr
this Idle capital, Of rates more remunerative than
eyen in the most prosperous times 1t is possible
10 secure IN permanent investments. Whenever
n general resumption of business shall make II
desirable to invest Otherwise, the parties holding
shs loan, whether 10 large or small amounts,
will possess a property, readily, aud at all times
negotiable, and probably at considerable pre-
nium. If the loan is left to be taken up by
large capitalists they will invest in it, because
Il is a profitable investment. BY opening Ma
t:enal subscription The advantages which would
otherwise be restricted TO the large capitalists
are extended TO the great body Of the people,
aBd every man in proportion to his means may
share in them. What "Sayings' Bank" or
''LOan Fund" can offer such interest, or give
such security, as are given by the Government
through the National Loan
There are other considerations, which in
abort time viii be apparent, which make gen.
sral investment in the Government losns highly
desirable. Within tho next six months il is
probable that an addition of $50, 000,000 viii be
made to the paper circulation Of tho country,
through the issue by the Government Of the So
and $40 demand notes. This 10 nearly double
the circulation OF all the Bauls Of the State Of
NeT.York; some seven millions more than the
combined circulation Of oil the Banks in all the
New England States, ard about fourteen millions
more than the aggregate circulation Of the West
ern States. No such sudden addition to the cir
ealaten Of q country ever took place without
causing general Imitation Of prices, and specu-
ktiye tendency. The absorption Of the idle cap.
Hal Of the country in the 2 $40 Treasury Notes
wll have tendency TO regulate this, and to keep
IN check the headIong movement which the first
few months of restored confidence and renewed
prosperity will generate.
One result Of this Issue Of Treasury Notes
payable on demand viii doubtless be TO drive
out of circulation the currency Of some of
tbs Western Statos, and to substitute sound
aud healthy circulating medium for the worthless
Srseh of "Wild Cat" Banks, and to this extent
tbis issue Cf paper mOaey viii furnish il, own
correction and remedy
A circulating medium more convenient than
gold, and every where current, will by this
means be furnished based on real depoass Of
specie. 1t ia understood to be tho firm determi-
natiOn of the Secretary Of the Treasury 70 keep
sufficient depOsit OF specie at the several points
at which these demand notes are payable, TO
snake it what it pursOrts to be, currency paya-
bic on demand, in specie. There need DO no
Gear Of any OveT.issue Of this paper. The pru-
dent foresight end caution Of the Secretary are
anficient guaranty Of this.
We are lkely, az another result Of tao present
esigency, to see realized the ideas Of many Of
ahe leading minds Of the Jackson;an period.
Tho benefits and convenieaces growing out Of q
National Bank, whose notes should be current in
every section, and for whose stability the good
faith Of the nation was pledged, were too anna.
ssnt to be disregarded Al haze been for loDq
tme agreed, however, that the existence Of the
cd National Bank was cut ebort because II DE-.
served to be. A gigantic institution, ip.r1sted
with the Government deposits, and with the
management Of ts fiscal relations, with organized
branches, and power Of unlimited bribery and
corruption through discounts TO those whose sup-
port II might be desirable TO conciliate. las been
sufficiently demonstrated TO be an engine Of too
terrible 6 nature to bc tolerated under free
Government. But the minds of mbny ia Jack
- II