The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-13

in regard to the scarcity of specie. and espe-
cially OF silver still continues. A resolution
Of inquiry as to the expediency Of issuing Cor
poration shinplastcrs has been introduced into
the Common Council. Several restaurants
and saloons have already transformed their
pay counters into banks of issue. Even nickel
and copper cents are at premium. The six
penny brokers have succeeded in seriously in
juring the trade and mountaineering the peo-
pie of this city.
For this scarcity Of change there seems no
immediate remedy. The issue Of shinpasters
is Illegal and punishable by penalty Of one
thousand dollars Except the alleging Of the
silver, which can be done only by act of Con-
gress, we have seen no remedies proposed
to relieve the specie market besides shin
p'asters and postage stamps; and the former
are impossible.
Now, we regard this scarcity Of silver as
merely temporary If it will probably con-
tiaue any length Of time, we believe that an
embargo should be laid. as in Jehfcrsons time,
upon the export Of silver COIN No one cares
about the premium upon gold; for our legal
tender notes take the place of gold in most
business transactions. Every one, high or low,
rich or poor, Is injured and inconvenience by
the premium upon silver 1t is every ones
duty, therefore, to keep the premium down.
No storekeeper who regards his own or his
neighbours interests will parley for moment
with the brokers who now infest every
place of business with offers to purchase silver
change. Car and stage proprietors should be
public spirited enough to give out as much
silver as they receive, selling none to brokers.
Very few passengers in cars and stages now
offer bills, and the proprietors Of our city lines
undoubtedly receive large surplus Of silver
coin daily; for they pay out only copper or
nickel cents. A little management upon the
part Of storekeepers will do all the rest
We have before us specimens of shinplasters
issued by the Corporation and by our city
banks in 1914. They resemble small bank
bills. are very neatly engraved and are printed
upon excellent paper. One Of the Corporation
shinplasters reads: 20 The Corporation of the
city Of New York promises to pay the bearer
on demand seventy-five cents. BY order of the
Corporation. (SigneD John Pintard, New York,
26th December, 1914" This is the highest order
of shinplasters, and those of 1887 were much in
ferior No person wishes to revive that era.
The rebels should be permitted to enjoy the
exclusive control Of such kinds Of currency.
With . proper degree Of public spirit among
our citizens, this specie matter can be easily ar
ranged. The present scarcity Of silver is simply
apanic, and cannot last. The premium upon gold
and silver fell yesterday. Let every man fully
understand that he Injuries himself to an ex-
tent for which no premium can recompense
him by in any way interfering with the silver
currency Of the country. Some merchants may
consider il very smart trick to make few
cents on . dollar by selling silver to
brokers; but they do not consider that the loss
Of interest upon money boarded and goods I'M
sold, the general arrangement and incoE-
venience Of trade, and the deficiency in Gus
toners and purchases, will more than over
balance the premium in their profit and loss
accounts. Reflect little. Do not foolshly
give way to a causeless panic. Help yourself
and your neighbor by keeping the silver in
circulation and out of the brokers' clutches.
n
LAST OF THE FINANCIAL MEASURES OF THE
GOVERNMENT OF CoNGREss-Wc
perceive that the Appropriation bill was yester-
day introduced by MIR. Stevens-the well known
signal for the adjournment Of Congress. The
Tax bill and the Tariff bill have already been
passed, and measure has been brought in By
Nr. Hooper for the regulation OF the national
currency, including bureau to take charge of
4: in fact a national bank Of issue without the
power OF taking deposits. Its operations will
Of course be limited to Treasury notes now
ont and the ore hundred and fifty millions
additional of circulation demanded by Mr..
Chase. All these financial measures, 30 essen
tally necessary TO tie susiainmcnt of the gov
eminent and the carrying on Of the war. arc
naturally followed by an appropriation bill,
which completes the series and enables the AL
ministrstion to prosecute tho campaign with
vigor. In the meantime Congress, having
at last discharged the duties which II ought
to have performed at first ought to go home
a. soon as possible. All that it can do now
IS to talk, and such talk NJ It has INDUCED in
during the session has done enough Of mischief
already. by ali means let Congress adjourn at
once the country is sick Of It's eternal sing song
about the Niger, which has engrossed so much
Of the thoughts and speeches Of the representa-
tives OF the people that one would suppose the
blacks were the CHEF race upon this continent,
and that the interests Of tho Caucasian race
were subordinate to those Of Sambo, who
laughs In his sleeve at all the fuss "do white
folks" are making about him.
STRATEGIC LYNc.--Rcforc we received the
details Of the six battles which resulted In
McCicl.an's change Of position from the Chicka-
Loniiny to the Jamos river, an announcement
came from rebel sources, by way Of Memphis,
that Richmond had been captured. The SINH