The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-03-07

OleFe TpHdn...... te,tbl 20 G6i 1880
rhero war, to day, large sac cf siap'e ribbons.
imr'ttel by P.ven a Co Too suendance was
lsrso aud the results very sati,,actory, many
duplicate lots we're sold
sale ~ s,Nony and French g,Nis sid vsry vol,
but tie dress silks were moNi' y passed..
The chairman ~ thu Sub.Comuitee ~ WAYS and
MosuJ states tina, Il was the inioniion Of ,ha Com.
u,hteo that the old issue ~ demand notes should
have been made legal tender, Lat a. the law docs
not make them e. declHalu-s at will speedily 10
passed making them 81 meantime, some " tho
banks do n"i take them m deposit because they
cannot usc them At tho Clearing IIlusc Il has
been proposed by some o' thcm, however, that the
notes should be deposited with the Sub. Treasurer,
under The new rulo, aud per cent. certificates
received tor them, 10 tho extent u about -
MILLIONS aud tina, Il elo should he used NJ
the CLEARING House, iustoad OF Ito loan GER
NAcN,ca now used. nntho Lu,@ are equal l, goli
Tor Custom House purposes, ami will bs legal
tender, II they are deposited wh tho Treasurer.
The hodor Of the certih alta will not got pail In the
sainc notes, but In new ones tina, arc receivable
tIr customs. lndar these cirrumstancos, tie
Banks will not like n part with them II IL An a..
ror - suppose, AZ many seem ~, that the Treasury
receives notes and gold on deposit, ~ return in tie
po'itcs is b. have the of the money, and u, il Ia
paid ont again Immediately, Il clnno, be returnsd
,o the dopoHitor. These will al. sst tholr pay ia
re now legal tender notes.
Honoy Is becoming more easy and lower In prlce
az the securities OF La Government ge, circul,ted
The banks lend their $40 notes " parties who
sell ihsm in the street at sSh discount and there
Is some demand for tho notes from tho public who
- tl.al a
dpn" al Os' per cent 10 known borrowers, and iu
some cases I, on god securities. Good single
names 10 at 0a12 per cont.
Tho Treasury Department is making rapid pro-
gross towards meeting the demands upon tho pub
ic Treasury With the means iha, tho recent avs
have placed in his hands. Tlo Indebtedness cer,l.
tca'e tanks have been already forwarded T. Wash.
ington u be filed on, and asusd. By this opera
i'm colitor or contractor who la,
gut his account audited may get one
of those certificates, fr tho amount expreauin, On
is face tha, the Government will pay the same
with per cent. interest Ia one year or ea,lier.
koal Of the creditors willing 90 take those, and
u g aggregate IL said 10 10 5000 900. These
Treasury bonds will command the money Al once,
and put into circulation immense sum now
locked up. Thsre ia no limit by tle law h. the
cunt II these tina, may be issund, and with them
tie Secretary may cJntuually throw forward an
imnons burden
The engraving o. the new demand notes IL Ia ~
great a state u forwardneza that many them will
be- out within ten days, and the remainder will
speedily follow while the Secretary uses these to
meet his curren, txrensss ray on the troops, &o.,
Il ndebtodnesi osrtosicG" will be applied ~ the
large creditors A. their accounts accrue. Hence a
that are now due will bo put one year ahosd, aud
all that for tho future will be treated ia the
same way Hence the real pinch in the Treasury
will be tt only one year hence, when the FIRST
tihy ates become due; at that time however, the
tSSeA will begin To he realized, and the % tho
DepArtn ent will doubtless he ample. Too rates
that the different securities will meantime command
must depend upon the degree - pressure upon the
maIksi,