Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1862-01-23

by the committee II is said that grave doubts are en-
tertaned of his confirmation. Strenuous efforts be-
ing made by his friends to Ii for him. but the Of
fcers Of his brigade anxious to have in his place
OF military experience, as well as energy and abi
v.
GENERAL LAHE ABOUT TO TAKE THE FfrLD.
The contested election case Of Frederick p Stanton
against General Lane Is considered OF the in
teresting that came before the Senate. Ginera
Lanes right to his seat confirmed by vote OF TWEEN
ty four TO sixteen 1t is understood that he together
with bis staff will shortly leave Washington for the pur
pose of assuming command Of his division. There Is
perfect harmony of views between him and General
Hunter, who is 10 command Of the Department ~
Kansas His friends tonight complimented him with
serenade.
LYFAIRs ON THE LOWER POTOMAC.
On Tuesday the rebel batteries on the Potomac fred
twenty-sx shots an oyster pungy, but did not hit it.
Yesterday a feet Of similar vessels the blockade
without being greeted with such salutes, and arrived
safely at Washington
SUSPENSION OF SPECIE PAYMENT BY THE OHIO BANKS.
Cleveland, Jan. 10.
The Legislature of Ohio to day passed al act author
zrg the suspension Of specie payments BY the banks Of
this State.
One Of the conditions of the Bank Suspension law Is
that the banks sumo payment Ia fifteen days after the
New York banks do.
PLANS FOR RAISING REVENUE.
Views aad ans which IA intended to avoid the neces.
sity Of imposing direct for the purpose OF raising
revenue. This proposition looks to the raising Of two
hundred and twenty millions Of dollars year-one hun:
dred and fifteen millions on eIcifes and one hundred
and five millions on imports levying high duties on
tea coffee sugar tobacco liquors and other uIuries
and allowing only thrty6ve millions OF revenue from
ordinary impor.s.
It's proposed to issue three hundred millions Of de.
mand treasury notes. and thousand millions Of six
per cent bonds redeemable after twenty years. the de-
nand notes be convertible into the bonds at pleasure
1t s also proposed that the government shall receive
specie deposit and issue certificates, payable at any
one of Ire Dependencies Ia argued by this process the
coin Of the country will be drawn into the Treasury and
the certificates will circulate in the place OF specie.
strong array Of facts aud statistics is presented showing
the ability OF the United States, or the twenty-five mil
lions OF inhabitants of the loyal States to raise the two
hundred and twenty millions easily as the twenty nine
millions Of inhabitants Of Great Britain raise annually
from two hundred and fifty to three hundred and fifty
millions Of dollars of revenue. The proposition meets
with favor, and will be considered seriously by the com
uittee.
FINANCIAL AND COMMERCIAL.
Nav YORK, Thursday, Jan. l6-6 P. u.
Money is quite easy the rates Of call are T. with
exceptions at per cent Choice paper sells at T.
and good business paper M7as.
The quotation for foreign exchange was very vide TO-
day neither drawers nor importers being anxious TO do
business Tho latter argue that the resolution on taxa
lion passed yesterday in Congress will bring about fall
in exchange II seems likely that money will now tow
hther from the other side. We quote bankers sterling
bills la l.2 a llS l.2 Gold is quoted l4a2 Ia
There Is some talk OF resumption oil specie payments
by the banks but unless unexpected victories should
await our arms no Of the kind smelly be made
as yet.
stocks we're lover to day. Several parties who have
been buyers took an opportunity Of realizing profits
and some operators regarded the Washington news as
unfayorable TO stocks and sold out Governments de-
cned per cent and the general railroad list about as
much The strongest socks on the List were Erie and
Toledo both Of WHICH closed within fraction Of yes
te days prices Tho commission brokers report fair
business Those who have foreign connections have
been selling large amounts Of stock for foreign account
ever since The Mason and sde affair. Il Is supposed
that now that the mbrogio y settled. the foreigners
will want to get theis stocks back again. II, as sr.
pected the waning proportions OF the rebellion en-
courage the hope Of speedy restoration OF the At
thority OF the United States over the whole country
they will have to pay for them than they got when
they sold The following the last quotations OF the
DAY the market closing weak -United States 6s regis
tered 1884, 30 liz AL; do. 6s coupon 1881. SO S.4
go; Tennessee IS AZ l.2; Missouri 6s ~ l.2; Pa
,i65 Nail, 81 a 81; New York Central. SO a s;
Erie, 35 l.s; do. preferred, sc 81 q 81; Hudson
River, SO.
Yesterdays work In Congress and in committee at
Washington Is the chief topc Of discussion In financial
circles to-day i is gratifying to see that Congress has
ct last responded to the public wants by pedgDg IL
self to system Of taxation which shall yield $4,000
900 per annum or enough TO defray the ordinary
peases of oyernment to pay the interest on the whole
debt and TO provide sinking fund which sha exit:
gssh our indebtedness within reasonable time. ANY
iety on thsse psnts nay nov he dismissed WIN re-
spect the financial seheme which Is sad to baYe been
agreed upon the banks and the Secretary, pub
lie opinion seems hardly have taken SHAPE as yet
TIE pro comedies with the plan which has been so
irSqueny urged 10 this column, except in Two partcu
lars viz the new Treasury notes are not made legal
tender, and they are not convertible into per cent
boada but into 7.S6 Treasury notes. The importance
OF these devatons from tho plan urged by Us Is more
apparent than real. As both the banks and the Gov
ernmeut have Suspended specie payments the new Gov
ernmeIt paper viii be- practically, legal tender, ct all
events for all business Debtors under pree IisDg
engagements may be compelled to pay in gold bu as
a general rule, the business Of the country will DO
transacted the basis Of paper currency, whether the
new paper be made !sga tender or not ills, perhaps
an advantage have the Treasury convertible
into SO notes Of the end Of year, and these latter
conyeribe into per cents at the end Of three years
for Il affords the government two opportunities instead
OF one for paying them Of The o. .ct 10 making the
new notes interest bearing vas to otter an ndpcement 70
holders in the country 10 keep them in their possession
and likewise shield the honor OF government in the
event Of depreciation in the price, Il seems to have
been thoughess dsgraceul for government 10 have its
bonds spree ate han its demand notes. Without stop
ping to quire into the soundness Of this view, may
observe that il ia well understood that the new 65 notes
will circulate as money and that contractors soldiers
saors purv0yors 90 vil be paid in them-tbough the
banks Apparently viii not take them on deposit
ney IL easy foresec that this arrangement will lead
to difficulties hereafter
What Il contractor who receives half million Of
these notes to do with them he cannot deposit them
In his bankY II he sends them 10 Wall street for sale,
vho il there buy them y-the supply being at least
a 500 600 day VIII they not deprecate rapidly a.
to Ell the price OF the 80 notes. Of which the banks
hold $50 900 900, Ard will not the government have
to pay % much for everything Il buysl Doubts
have arisen with regard TO these Go notes which Mr.
Chase will bs authorized 10 issue. According to the
at ent furnished the Associated Press, the issue
yll be limited 81 900 600. IA the amount Of money
due contractors by the United States, at the pr'ssn
tps j. not 10 than $50 100000, this scheme would en-
able Mr.. chase to nav hii iehs and would leave him
$40 900 600 In hand-enorgh to Gerry on the
war Just a fortnight At the end Of tho fort