New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-06-13

Government dues except duties on imports and H.
terest.
ii this authority he given, the proposed reserve Of
an amount, say S34 O0O000 not less than one-third
the temporary depotts, aud the replacement of that
portion OF the 500, 900 600 of demand notes. Say
$50 500 600, now practically withdrawn from crcu.
ailon AID held for payment # custom, will require
for the present least say 800 500 900 of the pro
posed sddi iona ssue leaving ual present
abortion TO the resources OF The Government only
So 500 900.
This amount, however, gradually increased as il
will be by the retirement OF the demand notes, Will
paid III for pobhe dues, and the replacement OF
them by other United States notes will PROBABLY
suffice for all demands which cannot be net from
conversions aud from Customs
If Co gress ehsll tit to authorize the additional
emission proposed, 1t seems highly expedieDt that
such part las he pubic convenience shall require be
issued in denominations less than So
am aware Ct the general obectious to the is'ue
of notes under So and co,cede their cogeDcy. In
deed under ordinary circumstances they are un-
aDswerable but III the existing Circumstances OF the
country they lose most il not all their force. The
country j. involved in the expenditures of contest
for national existence and il is highly desrabe that
the burdens OF ire people be made as toleiabe as
possible.
Ii the restriction on The Issue Of small denomIa-
ton he removed the wants Of the country will alb
sorb eircuia ion Of SIS 0V0 t00 and perhaps more.
The interest this circulation, soy 81 500 900
year, will be saved to the taxpayers.
Payments TO public creditors, and especially to
soldiers, require large amounts OF coin TO sat
isfy fractional demands lees than So Great neon
venienovs IN payment of the troops aro thus occa-
stoned. With every effort on the part OF the Treas
ury to provide the necessary amount Of CON- n Is
found mpracICable always TO sciify their demands.
when lhe amount required Ii furnished the tempta-
/ ton O. discussing oficers to exchange II Tor any
smnll bank notes that the soldiers or Tie public cred
itors will take is too great 10 be slways resisted.
Aud even when the coin reaches tie creditors 1t Is
seldom het but passes, III general e1iately INFO
the hands Of suffers and Others, and disappears al
once from circulation. The inconvenience, there
fore, TO the Government aud credilors, from the
abssnce Of Uni'ed States notes o. email denomina-
tions, are not compensated 10y anybody.
1t may properly be further observed that, since
the L. $. Notes are made d legal tender aud mann
tanned nearly at the par Of gold by the provision
for the conversion into bonds, beainY sx per cent
interest payable III coin, il is not cay 10 see why
small notes may not be issued n sat a. large ones
The notes made legal tender circulate as money,
and the Government may authenticate by device
and imprint small D0tes, well as small coins. The
limit is to be found only in public convenience
which il dictates denominations notes similar TO
denominations on gold leaving the small circulation
of silver Qess valuable than gold ms before.
Another consideration which deserves 10 be taken
in the account in this, that resumption Of payments
in specie. can be certainly and elsy effected
and with far less Of iDcouvenince and Ions TO the
community if the currency, small well IA large,
is Of Uuiied States notes. than II the channels Of
circulation are left to he filled up by tie emissions Of
uoDspecie paying corporatiooS solvent and insol-
vent.
| T csc considerations Of economy Of putEc sdvan.
tage and Of private convenience seem to me to justly
fully the removal Of the restriction upon the Issue Of
slual notes.
propose. further, TO make arrangements for the
necessary engraving and other work tor the printing
aud PREPARATION for the issue Of these notes III the
I Treasury Department at Washington. | am led TO
believe that very considerable reduction OF expense
can be thus effected. The prospect, III my judgment
certainly warrants the trial.
| With these objects have prepared bill which
prol ose to submit the cOnsldt ration Of the Com
mit,ee. The cJndI'ion Of the Treasury renders
prompt action highly desirable, and tfu.t II Is not
necessary to assure The Committee or Congress that
should the powers ashed for be granted they be
exceeded only with tie most careful reference to The
requifernents Of the public inioset.
| Whatever the authority granted gay be, 10 issue
of notes will be made except to lace notes with
drawn and cancelled, and to meet tie current eK.
pendilures authorized by Congress which cannot be
met from the receipts Of revenue, from the Increase
of deposl's and from the pSooeeds OF the conversion
| into iiye-twentes With great rG.pect,
! s. =. CHASE, stc'y Of he Treasury.
Hon. THADDE-s STEVENS, IN Com Of Nt3s 4ud Aieaus
THE PROPOSED EXCHANGE or GENERAL
BUCKSER.
The Kentucky Delegation III Congress waited
upon the President last ui;'t 10 protest. against the
exchange Of General Buckucr ioi General Prentice,
proposed by the Rebels the tine gu non Of gem
ersl or partial exchange Of prisone's. TINS morn
ing Carrot DAVIS in.rsduced resolution into the
senate recurring General Bucknor 10 be delivered
no 10 the civil authorizes of KcltUciy for till.
In a speech il support Of this motion. De described
Gen. Buckner o. the worsi Of scouudrsis, the Rebel
most deserving Of puuishuent-tc hang i" HON he
NANTES cd a disposition TO pus aside al c'nsiaera-
lions connected witt the suiierins of own officers
and soldiers iu the hands Of the Roles or with the
consequences in the mature Of retaliation likely 10
flow from such action.
Senator GRIMES explained tie real significance Of
tie resolution and the results Of H. ADDITION, iu the
continued incarceration IN iiltuy Rebel dungeons Of
many brave National soioiers, wiom tie Rebels
would NOT exchange Jules Buckne. WAS released.
Senator Browning followed in tie s<me strain
Neither Senator could perceive Low Geu. Buck
uer's case differed from that OF other Rebels IL Is
bel eyed that tie Government has - yet come 10 no
final conclusion touching the reply 20 &c returned to
the Rebel authorities but the probabilities are that
it will not be uufayorabe.
TIE MILEAGE RI uHM.
| Mr. F. A. Conkllng ID tde second attempt 10 in
fTOduCe the Dill tue
Of The army, SECTION eulbodying hs scheme for the
reo IN of the mileage abuse but 1t wa ruled out w
the Speaker on the ground 3hal At was not germane
10 the bill.
RULES FOR ARMY CONTRACTORS.
A section was added 10 the pay and emoluments
Of the army bill by the House to-day, subJectlng
army contractors TO the rules aud articles OF war;
This was not defended as substitute for tie bill