, 1862-06-20

National Finances.
We take the following synopsis Of the kind and
amount OF government Indebtedness, from the
abe speech Of Bfr. spaulding Of New York on the
Treasury Note Bill, made in the House Of Repre-
ecntstives on Tuesday last:
In what form OF mode has the credit Of the gov
erlme1t been thus far used fn the prosecution Of
the wat! Five different forms Of credit have
Eeen rcsotted 10. 1toans to the Government for
which obligations have been issued are as fol
J., United States notes without interest, made
legal teIder, and circulated ns money among tho
the peoples 1ran to the government, and the most
government. Il has given tie couatry % $ SOUND d
1atlonal currency In Which the people have had
entire confidence Every man, woman and child
having in hand FIVE dollar 1cga1 tender, green
back, note. has directly Or indirectly 1oaued
cs ming thereby in the perpe1uity Of the
government, is strong advocate for a vigorous
utinn Of the war. Affair test Of the loyalty
manifestation of confidence that they are perfect
~ coed The soldier and sailor give their sersi-
ces risk their lives and endure ali the hardshps,
Sickness. and p1ivatfons of the campaign, and
ctce1fulg teke these notes in payment. Supplies,
subsistence. and materials OF war OF all kinds is
esssr,y iu;nlshed and thGse grsen backs taken in
p pu1af with the people, and, being without inter-
est, IL 50 adrantageous to The government. 1t fs
dvrira5!c that il shonld be extended a. far as it
can be done without nndu1y stimulating specula.
tiops to such extent to cause an unfayorable
rs:cti to The legitimate busfnesa Of the country
2. The second kind Of loan has been the issne oi
bonds running from I've to twenty yeara, atst< per
cent interest per annum which ia an antageous
| notc 70: the government to borrow money, be,
| cause the debt IL then furdcd: and 1t Is also
favorable TO commerce, becauec It causes no dis
iErbencc in the money market or business
nf the eoan r. psna1d - the money Is no
| active business. hut IL obtsincd from capital
| 1ets who desire permanent Investments. aud WIN
| only want to uFe the interest half yearly Thi:
| node Of borrowing must recrsearily b, limited te
The amount Of accumulated capital in the country
held By those who are wiling to invest it in thi:
way ltis = permanent and safe investment in
Il hands OF those Persons p io want to use only
the fhte.ett On their accumulated capital.
B. Athird kind ofloan, which has TINS far wogset
very well in practice, are deposits io the treasury
are issued besrIng fonr and 11ye, per cent. IN
teicst, sid which deposits may be withdraw
hs;1lo fsen the on giyng tea days
bus borrowed over Goo at this iess:o {ow 1ate
interest. and the hill now before us proposes t
asnias anv 1os sad1en
that may be made foE these deposits. TIC Secrctar
proposes to keep on hand. n treasury notes read
| INIT depusifa which may 1t an5 time be In th
t-tasEry WiIh 't.ls safeguard: this kidd Of loa1
viii he very e9fantageors to the government a
4. Ctrtidca es Of Indebtedness at one yc1r utsns.
irg rer cent. interest per annun. give in psy
ment Tor supplies, trsnsporistion and natcria
| furnished in the prosecution Of the war. This
all advantageous form Of credit given to The go1
e nmcIt, because It is for definite time, aud .
the cus: omary 1ate of per cent. interest. Thi
form Of Indebtedness h1s ALREADY reached abou
SO {&p and Inay be etill further increased u,
oer tho law already in existence.
g. Treasury notes at three years bearing Z 81
| Ter rent interest pc1 annum. payable halI yearlJ
| md convertible into twenty vear6 per cent bond
| This ia most Objectionable for u Of bo7To1ytu
Of any that has been adopted, for the reason tbs
| r I fVf- mr. h{frhf
rate than this g1cat government, with nil It's in
TIC: &c power and resources, ought Ia pay.
thlpk this form Ct borrowing money should onl
be rcsortcd to when VIC cannot obtain money
curry on the war IN any other Way
The funded debt OF the United States, as repor
ety hy the secretary Of the treasury to CougTes