The New York herald., 1862-01-13

The new banking scheme is matter of great
moment at the present crisis, and one that should
be duly weighed and considered by all parties 1t
must be borne in mind that the bank represen.
tatves of Boston and Philadelphia are elected by
The banking corporations of those cities, while
those from this city are self-constituted. In the
conference Of these moneyed gentlemen, held in
Washington on Saturday, with the Secretary of
the Treasury and the Finance Committee of the
Senate and the House Committee of Ways and
Means, the bank men submitted proposition
comprising the following points,
l. That in lieu of the proposed issue of one hun.
dred and fifty millions of demand notes and
making them legal tender, the government shall
Issue fifty millions of demand notes, convertible
Into seven per cent stock, redeemabe in ten years.
and one hundred and fifty millions Of small notes,
bearing six per cent interest, and payable in two
years.
2. That the Sub Treasury law shall be repealed
and the banks shall be used repositories of all
the public money, except that received from Gus
IONS.
D. That Congress shall pass q joint resolution
Declaring that it viii pass revenue bill providing
Tor the raising of one hundred and twenty five mil
lions per annum by taxation, &C., in addition to
the receipts from customs.
4. That the Secretary of the Treasury shall be
authorized to negotiate further loans, without re.
striction as to terms rate of interest and also
10 obtain temporary loans by hypothecating stocks
In anticipation of sales.
What ultimate action may be taken on these
points time alone can show. We refer our readers,
also, to our money article for a consideration of
the question.
The steamer Pensacola succeeded in running the
blockade of the Potomac on Saturday morning as far
as Indian Head, where she remained until yesterday
morning. at which time she again started on her
way She was fired at by the rebel batteries and
twenty-five shots were aimed at her, but none hit
The mark. She did not return the fire, although
heavily laden with cannon and other appliances of
war, and fully prepared for hostile service The
safe passage of the vessel is a source of great
satisfaction to all parties concerned.
The rumors relative to the burning of Bath, Va.
Gre untrue. The rebel General Jackson has, how.
ever, burned Crst's Mill and some other build
ings, but any further destruction is not authen-
Ecated.
The news from rebellion is very important
From the usual files of Southern (rebeD news
papers received at the HERALD office it appears
that the rebellion is on the wane and that nothing
but the mendacty of the rebel press and the extra
bombastic proclamatons Of the rebel generals pre-
gent powerful reaction against JEFF Davis and
bis cotraitors.
The rebel volunteer system has proved failure
Many regiments whose time is nearly up look for.
ward with anxiety for the expiration of their term
Df service. The Richmond Examiner regards this
Fact with serious apprehension. That journal
strongly advocates the adoption Of measures not to
allow these rebel volunteers TO return home, but
recommends that commanding system be
hdopted-that is, to make the rebel soldiers re-.
main in service, no,ens uo1ens
The progress Of the federal troops on the north
ern frontier of the South and the late defeat of the
the discomfort of the rebels. They regard
Che federal expeditions now organized as intent
ppon mischief.
The Mobile Register Of the S0th ult. has received
From London copy Of letter addressed to Lord
0obn Russell by 7. Butler King, rebel agent now
In Europe, on the subject Of the adoption of Eng.
lish manufactures In the South in opposition to the
Northern States. The rebel agent tempts the Pre-.
1ner by saying, "You have only to hold out your
hand and take them"
The Burnside expedition and Its destination gives
,the rebels much concern. They are evidently un.
DER the impression that II Is destined for Norfolk
hE Yorktown. The Norfolk Day Book thinks the