The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1862-03-15
WIN ~ "hOIVANy
First Assistant Postmaster Genera
Important Action of the New York
Banks.

From the N. Y. Times Money Article Of Friday
The Associated Banks of this city, in general
meeting of the Presidents to-day, have recog-
nized the United States notes as the appropri-
ate medium for making their daily exchanges
and settlements with each other through the
Clearing House. They have resolved that the
United States notes should be deposited with
the Government Sub-Treasury, under the re-
cent act of Congress, on an interest of per
cent. per annum, the certificates of such de-
posits being used in the daily settlements at
the Clearing House between the debtor and
creditor banks. The meeting to-day resolved
to limit such deposits to $40 000, 900 being four
fifths of the whole sum authorized by Congress
to be received by the public at large, at all the
Sub Treasures on interest. The present de.
mand United States notes will at once be en-
ployed in this way; thus removing all questions
as to whether or not these notes are funds cur
rent in the business of the Banks, without
waiting for the substitution of the regular le-
gal tender United States Notes, not yet pre-
pared by the Department at Washington. The
supplemental Treasury bill now passing thro'
Congress will declare the present notes in all
respects legal tender, besides reafirming the
discrimination in their favor for Custom house
payments. 1t affords us pleasure to report the
judicious action of the Associated Bankers
to-day. Besides securing to themselves the
liberal interest of per cent. on the medium Of
| daily settlement between each ..other, the mr..
| rangemeut anticipates what must have been
| done under the act of Congress, on the appear.
| ance of the legal tender issue of the United
States Notes. The Association will be forum.
| ate if they are enabled to place as niue has $40
| DOC, 600 with the ub-Treasury before larger
| share than S5,000,O00 is deposited by Other
L n.,ks- H.. l. -
moves all present obstacles to the easy work
ing of the money market. The probability i:
that per cent. will soon become the rule
rather than the exception, on loans on stock.
collateral.
A gentleman direct jfrom Memphis, wht
spent several days there lately, assures us tina
the state Of trepidation among the people Their,
is utterly beyond description. Most of then
expect that the Union forces will soon hav.
/ possession of the town. Since Nashville ha
fallen into Union hands, they have no faith il
their ability to resist manifest destiny" Th
majority of the people, he says, ,el that if the,
had assurances that they would not be dam
aged in person or property, they would willing
ly see the city surrendered to the Federals, an,
trade and commerce re.opened with the North
Our informant says the general impression
among the rebels down the river is that Gen
Polk will make a stand at Island No. 10, an
then, as a last hope at Fort Randolph. :
/ GChicago Journal
At ball given at fashionable hotel in Ri
Janeiro last month, during the dancing of til
Lancers, the ballroom was suddenly mandate,
by rise in the river, the ladies being forced &
| get Oh the chairs and into the orchestra. In
few moments the water in the room was tw
feet deep, and many valuable Jewels were los,
The ladies, who we're all wet, were eventual
carried in the arms of the people to the uppe
rooms of the hotel. The inundation subside,
in about two hours