, 1862-01-27

The following paragraphs which we take from
the Washington correspondence OF New York ex-
change Of tho 2Sd, shows that ne arc at last to
haye definite financial action at Washington. If
the Committee Will add tax upon the circulation
Of the banks to force IT gradually to be with
drawn, they viii meet the views Of the people Of
the West. Simply to ndd another hundred mill
ions to our currency would SO initiate the prices
that 1t would to very considerable extent defeat
the ends had in view by the Government in issu-
ing it. Scarcely anything could be worse fnan-
cally than for the banks while in state Of auspen-
sion, and the Government to enter into competi-
tion az to which could issue the more rapidly
sspromises TO pay
The bill reported from the Committee Oh Wars
and Means, to-day, provides that for temporary
aed to szne tue on liz credit Of TIC WStea sttes
one hundred millions Of dollars Of United States
notes. not bearing interest," payable to bearer At
Treasurer in the City Of New York, st the pleasure
Of the United states- and Of euch denominations
as hc may deem espedle9t pot less than i've dollars
Notce payable on demand, not belring interest.
heretofore authorised, fhall be receivable for all
dsbts t. and demands due 70 tne United nit states ahd
asaociations within the United States and shall also
detfs. p1bIie and prirte, sef1sn lie Uaif9d Sfafss,
and any holder oi said United States Notes deposit
Ing any sum not less than s5o or other than 1nu1-
tiple with the Treasurer of the United States. or
either Of the Assistant Treasurers either Of the
| designated repositories at Cincinnati or Baltimore,
II R
to the Secretary Of the Treasury, who shall there:
upon iEsue to the holder an equal amount in Bonds
be desired bearing Interest at the rate of Eiz PEI
cent, and 1edeemable at the pleasure Of the Gov.
ernncnt after twenty years from date; Or p sums
retary # he deem it c1pedient, may issue similar
bonds, the principal and interest of which MAJ be
s n seS % taS Fs saes Ndg
| shall be received the Fame as coin, at their pa.
value, in payment for any bonds that may be here
aftez negotiated BY The Secretary q the Treasury
Eball be printed on the back Of the United state:
Sosf lis se
note j. a LEGAL TENDER In payment efaN de5ts
public and E75rate, and is exchangeable for bond
70 70 enable the @ Secretary af t6e treasury to fln,
| the Treasury notes and floating debt ofthe Unite
States, he is authorized to issue on the credit
bonds to N amount not Exceeding s50o ooo 100, az
| redeenabe ut the pleasure Of the Gorernmen
'fb Tate q * % eea per amn payas
een1i-annualy; ard the bonds authorized shall b
q such de9omin tto9 nos 1ess thsn my ao1la1s
Treasury, or in not less than 81 5o0, for hict
II requested the Secretary, if he deems it e3
pcdicnt, may iseue similar bonds, the p.incips
and interest Of which msy be expressed In ii
currency of any foreign country. and payabl
there. The Secretary Is authorized to Issue sal
bonds at par value to any creditor creditor
, | of the United States, who may elect to 1eceiy
them in satisfaction Of their demands: psoridet
| That all such claims OF demands shall have bee
first audited and settled by proper accounting Q
{ | feers OF the Treasury; and the Secretary of Il
Treasury may also exchange such bonds at any tim
for lawful money Of the United states, OF any
the Treasury notes that have been Or may be iesng
under any former act Of Congress, or that may !
: issued under the provisions Of this act. IT
United States notes and bonds authorized /
act. or that have been heretofore authorize
; shalt be signed by the Treasury Of the Unite
States, OF for the Treasurer By such pc
/. sons as may be specifically appointed BY Il
, Secretary OF the Treasury, and shau be cou
i tersigncd by the Registere1 Of the Treasury or
t the Registrar by snch perEons as the Secretary
the Treasury may specifically appoint for such pu
!. pose; and all the provisions Of the act entitl
IAN act to authorize the issue Of Treasury notes
q approved On the I'D day Of December, 1851, 30
a. they can be applied to thie act. and not inco
siatent Herewith, nre revised and ro-euacted, al
the sum Of $500 naa is appropriated to enable t
Secretary Of the Treasury to carry this net in
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