, 1862-06-28
FINANCIAL. and COMMERCIAL.


FRIDAY EVENING, June y, 1854
The lively business now doing by the banks has |
somewhat decreased the supply Of currency. This
has a tendency to keep down exchange, which can
not be forced, under these circumstances, abeve
par buying, selling. Gold still seems inclined
to 60 up. The dealers are buying at s ann selling
a: e19H. Treasury 1otes [old) to-day bring per
cent, and are sold for an additional hall. The new
are only at nominal premium.
The present high price for gold is undoubtedly,
In measure, Influenced blythe passage in the
HouEe Of the bill authorizing the issue Of the
$160. COO Goo Of Demand Treasury Notes, fifty mil
lions Of the amount to be in denominations Of less
than IS. The bill it Is said will pass the Senate.
There Is no doubt that the banks fear
this issue. 1t must have tendency to greatly re-
strict and depopular1ze their own circulation The
people feel security In government issues which
thcE never can feel in the uncertain bank issues
from all parts of the country and thoy are in favor
Of National currency to the exclusion Of these
bank Issues. We can see that it is only bankers
who Issue unlimited promises to pay, money deal
ere, and some capitalists, who are opposed to it.
As to this fact there can be but opinion the
part Of those who are in a position to judge the
| eentiment OF the masses, As We hare said above
the high price orgod is the fruit Of pa nc created
By the bankers In anticipation Of injury to their
| operations by the intended Issue Of Treasury
| Notes, especially Of 5 small denomination. Upon
| this question We find communication in the
Philadelphja Press which takes our view oft. The
writer Gays:
The first question to be considered is. whether
the initiation in the market is caused By the
ieeue Of these demand notes. We are assured
isss iIpsA than @ afsy Millions Of dollars % Of United
States currency aaoat, and that the present
riae II eotn,: ard the !nastion Of the money
strain every nerTe to throw. out their iredeema:
bic paper. while they look up the United
of pFesn ne t9 5 saat
la la. " We 'eG; should check the banks. n whiel
are apecie snh'n gasmept to reap rche hssVes
States BE- compelled to fund theIr debt At once
have an opportunity to still further expand thei
currency, caaafng even greater imitation Of prices
theil % cileaatfon While lie United States resp th
= benefit Of that intereEt9 1nRsmuch as the Cnltet
1 states furnish the best and safest currency tn
present circumstances admit OF saving millions G
dollars Of interest to the people shall the sen
q policy BE- abandoned, and the banks be reinstate
S9s 9hst q IT, 1ee Of
2 | tasy Chase, whose past course has been ctowue
. with such eminent success, should not be ltghtl
Y assurance that the finances will BE- as suecoest
- managed in the future as they have been he1et'
5 u Be fhat t6
s many prominent capttaliets:
le The next question We wish to DISCUSS fs the pr
"A priety Of Issuing notes Of a less denoninattc
~ than IS. It seems to US that 1t Is obvious tn
n the issue Of small notes Till II % 9o Way eo%pe
colstio1: The only practical que.tiona a ts Whetn h 3
eaid Interest and, at he sane time provide
er currency in every section Of the countryt