, 1862-06-19
FINANCIAL and COMMERCIAL.


WEDNESDAY EVENING, June 49, 1863,
The Government wants more money. The wa-
| IL rot Jet enied, and more funds must be had to
put down the rebellion. Every loyal citizen wilt
! at once coy, cost what it may the Government |
E!nEt Ee sustained; the money must be had. As |
| the most direct and cheapest WBY to obtain It. |
Mr. secretary Chaee has asked for new fssue Of |
| Treasury Notes, and the Committee OF Wars and |
Means Of the Houae Of Representatives have re- |
ported in favor Of the measure. To al this. the |
| people will cay amen. They like the "green- |
backs.'' They look more like mcney thsn com /
mon bsnk,rags," and based as they are upon the |
entire wealth OF the country, their intrinsic value
and their redemption are secure. They have in
fact OF the essential elements OF real money
than any other substitute for coin that the Wit Of
man has ever devised. With coin and definite
amount, cay three or even four hundred millions
Of Treasury Notes, and other pder issues In cir
cnlnt1on, the United States would, IN our fudK-
meut, have the best circulating Medium possible,
for an agricultural, manufacturing and commercial
people.
But 1t Is sadly to be feared that the opportunity
for Congress to provide such currency is to pass
: by without improvement. There are Bome two
thousand banks vigorously at work competing
with the Government IN the issue OF currency
Eeing legal tender notes instead Of coin for the
redemption Issues and nearly all OF them in
etate Of suspension, at best there ls practically
limit to their ability and disposition to utter
their "promises to pay.' As yet ali this Is very
beautiful Money is plenty. Expansion ia the
order Of the day and everything is going on swim
9 mipgly. But the day Of reckoning must come, and
! unless Congress aEerts the storm, disaster and
8 Widespread ruin ruet ere long oTertake us. Let
t Congress lay tax comparatively light at first,
i but steadily increasing upon the issues Of the
- -
e will be well
q We need not hers repeat the nnanswerab1e argu-
is ments against debt currency that hare so often
le appeared In these columns. To issue another
u stbo,eoo,oe0 Treasury Notes without custaning
The senea OF the banks is absurd and suicidal
Ia .ag national dnsncia1 measure that the merest
tyro in legislation ought to recon from it at once
ef Business at the banks is not quite so good. The
ecstcity Of vessels to carry of the grain Ia begin
u u ming to be very eensib1y felt. The 1o# price o.
Il frcights some weeks since induced very consld
ID. e1able feet to make trip to Lake Superior
n Hence railroad president told ustoday that he
be found 1t difficult to get storage for his grain. Al
r. upwa1d turn in freights will bring back the flee
and thus renew and perhaps increase the actiVit
d at the banks, They have abundant means to TAX
- all the really desirable paper that offers.
70, 70, Exchange is not quite plenty, but rates at
unchanged. The leading houses take 1t from Gus
+oo,ara al nsr and sell Mt " A heretnf,-e II I
n the rate on collections, and for small parcels.
The market for gold is declining. III
Eates lo-aag "efe 4;a0o pe1 CELL. pu5!n
and 5kG6 per cent selling. The upper figures Il
@3e smaller parcels, There is rather more OF reta
OF | demand than heretofore.
on, MnwAuKEE.-The Sentinel OF this mornin
the save.
aes Rrsiress in the money market vrsterdav wa
No. dulle1 even than Mondsy--a fact accounted for
al; the unusual 1nactlon u the pfodace market.
B. there was any Perceptlbe change II vas thas Gu
OF reucy Tas lees scarce and Eaetern paper moi
nal eat1y dlsposed o.. tQIlng ratcs OF New foI
II. eight drafte Taf1ta IRON 70 pei cent. q
ncy count a1d "A the SELLING rales tos Dtnk eSehange
NJ hSM 1eah ~ aae s "ag n;e t,o IA :" IT,
IN. "a 1 e.. ~ iiSa He 49, hSi ~ ti ~ III
figure the s"E5ent fate or collections II
zee, @osL Eeaetai eeus pfl-e' ao"e'ef' II prooa
the Pfeniam. 4o.a4,,..a .o,,o,zo., T., .on,
1er, on W. a @ heiu 5p o. a. W. A. u Gos
So 9nenSe " NV @ a. wv ~ l,
sue. WIS 5Sse11sh au anu a1tuouGn ueale
aa inv M not care to bny at more than + Or st mo
Vi. ~. olu 1sEue 11saeu1J Au!es we're ~ pleiulul
~ * e1Nc1ssA11-ine eo@efe o. seste1oAg 1norn1
as ~ @ ..,
tg market couti inrcs easT al EAl1 Der cent for 90
lIs Is nHner The tendency ie ia lower rateg and It
J. l.. pIupaoe PeI tSAS. VII eouu ~ tne ples4aul
> aEie At ner cent. OccasfonalIv inyestments I
;; maGe n Iea1 estate morfparea 1T mr. c..nt
Ae: TheTa IA a mi sunnIr e eTchanoe anG the m,
lot 10 All, nt - az nnar hnyin2 and !! n, -
eCE- ! EeluuE Gu1A, nu1IR 1Gnencu h1t Assacet po