Smyrna times., 1862-01-02
NJ lSC ELLAN NEOUS.
The Financial Policy o. Cove nmont.. &.
Demand Treasury Notes.


loans to Government than the .hrd SD,O. .OOO,.
OOo. three instalmeris Of vi hiea have slresdv
seea paid. They will then rave on hand sllC..
oOO'"OO OF the loan, a sym very nearly euual
90 ihelr capitals. They should 20 20 further
u they could. They should retain means enough
10 afford all needful sccemrao aodssiers Ia the
H'r r:antile community. Il, a little over faur
mo ''hs they will have furnished sornethi.c
over million dollars per dsy. Il is not prob
able that sales OF Government bonds CEN bs
made Tor the future at an equal rate, Asi,s
wants are steadily inGrsasng, il must ,sek
other sources Of supply. Mr.. Chase proposes
20 make up the anticipated Gefcil Sy eS,abIisn-
InE uniform system of free banking, with
United States stocks as securiiv for ihe re-
demption of its bills. Py una kinE tbs law CON-
pOlsory, ha assumes that 8 market ecusl To
S2OO .VO0.0O0 would bc crerted iut suck srcu
rl''es 1hlS plan, which cIad not fell, il at.
tempted 10 De put into INN msds,e apayaticn, 10
f9rce three quarters OF The Banks into liquids
on ard bankrupt the whole community, recei-
ves' as Tar as We can learn, no response what.
eyer from the public, and will nst, we orssns,o
ns seriously entertained by Congress A free
oan6ing law may be passed, without anv com.
A lol
ter on the salute book.
AS an almost necessary alternative, il is
evident that resort must be had 10 demand
Treasury notes. Such is the uniyer,,I .on.
Victien The public appears ta be unanimous
IN the opinion that both the Gov .rpment snf
banks should suspend specie paymcnts--,h,,
their vast operations, with those Of tie nub, -
cannot be carrIee on upon a hard none basis
The only question remaining, then, le the -,f n.
ner 10 which The notes shall be issued and ;la
se; ;urIty prov ded for their payuenI.
y ispension Of specie pawn snt Nv the C,v.
Or 'nent should not, any mora thRa bv the
nanks, contemplate an irrede enable cure nov.
H Is plain that bank may suspeud w;;bo1t
really dspsecIatlR2 the vsl"a af u bills in cir.
ehttlon. The balance Of indebtedness being
a ways eatIy Ia lie favor, such k'ra are Deed
~ returned % It. and iis Liabilities cancelled
oy lhe payment of its bills geceiv4 ole, which
cans'tnt"s the greater portian OF its cap!,ai.
me dl1erence oetwsen payments al soecie aLi
Suspension by the Banks Of such paymeu,s
w0uli not De perceptible. excep, by the tesIinc
OF relief II would aferd. Specs does rot con.
stitase their eas''al. II is not with the su.cis
tnat tnelF Liabilities are discharged, r.t ky Of
setting the obhgat ems itsy hsId of ia. public
them.
without their bills receivable, it is ea,y 20
sa~ that 'Re ys!ue qf their sh!: !:-al.ons would r..
measGtca aipSst entirely by he specie lhav
h%Id. The Banks OF New E. Gland do not hold
one COLLAR in specie TO fifteen of immediate liza.
bllliyj yet their shares are WORT. az n, oh en-
tne average as those Of the Banks of N. York
that hold the largest smount of speci. IN rsl,n
g. their liability. A bill receivable for slO.O. %
- worth as much as bag Of gold Of tie ssne
nominal value.
I"vernnent now proposes to put out it,
promises to psy on deManG i, eInoat exac,
'n'aIlen "i !hVse !sa4ed BY the Banksp
LATER FROM HATTEAAs --Advices fer, Fla Z.
IsS4s Ia ct represent the crndiiion oI,hstr.an.
there as ~re ched. But lew Ut lbem ,rs .hsI
l red ~ barracks, aud nearly all Of Col. H,w
klns Regiment are IN old lents--eoDseouentI. .
ths health Of the commanG 10 very bad. IL !.
necessary thst tho plac. stouIt c-
hs'h' IN SrIer To prevent It's becoming enee
u 'fe the nAroor ot rebel raIes, blG L. henl.b
aud effectiveness at lhe troops holding II sean
!" Depend u ~" their beins frequentl, ehsnyeJ
IN anticipation OF sn s!lack ny i..s r.,hsls
"n'ch h's been recHnlly Ihreatensd. .preDar.
u'hs f"r deteHse have bs en- made additIooaI In
ih'se immediately at the ct. A new cams
s+s oeeh e'taslIsbsd several nlles up he Island
ia extra eruheauvns hive bsea srretad
uur troops are expSc ing sn attr ck Imnsd alta
" sy TxpediliOp kuOWn t3A.vs oesa E:leq Ga,
At Norfolk.
Ths pfo'is.aH' Of the bill for promoti,s N.
'hi'eney OF .hs Navy by rclIrelur all .Gieer.
40 nave b"sG 10 the service foriv. i've ve.-.
Gently passed BY Cungress and .aor.ved h,
'e rfsSid7"', affect forty.HIae Of cur comn,o.
'"es' wa" are IhGs 1e3t 1vsrsoard Tba
resident, hsweVeP. with Consent 4T the Sonata
'an continue 10 service srch as ne may Gestn
""Pstsnt Tor activs service ard il is uaSrr
I"od 'nat hs Will thus c0Biinue Conm.dnrs.
'"ids6OrOugh, DUPONT, McXesn AND Bell.
MORE ARMs.-Owins e. the Y;,ss fo,..;.h,
y Secretary Cameron. We viii socn have N
Tvs e"u"'y a' aoend'nt supply of good sd
sfylceable arms. Mr.. Tn lrlow Weed w,,,s.
fom PsF:s hat Mr. Schuyler, the Government,
gent tor the purchase ot arms IN Euroos. h,s
7'"PisIed his "issiOU, by obIe IDI.y over soe
u"dred 'hOuslnd rites in AIstris aud Sax,oy. |
qusl to any IN the wO:Id. an that as Ismsk,ng
TePafa1I0Hs 10 ship hem as soon Q . soss;D!s
Tnursasy. great quantity Of cIothinv. d.s-
,"eo t"r 'he National prisoners 10 thr rebel
s'NfNSb "C'h WaEu 70 NOrfOiH q Z Naty f,f
fHce. T"e gunboat Keystone STATE 5nd ar. |
tSed at Old Point, after anoIk er unsueees.r,I
ru'se af'r The pirate Sumter, haying ty,o
zee u snail P K on board. The !aie .kIrn an
9r~msrkst Bridge, was quite brlsk .f.,r. !
u which tie rebels lost, in killed ed wouu-sd,
'he twenty hss or thirty man.
iHcRsAsED TAX ON THL AID CofFEs bill
assed both Houses Of C IAgress, ct week. and !
.s' HE ned Oy the President. pro,idlrg for an
acresse Of the duties sn tea. sugar .colsss,s
I'D coffee The duty OF tea /. t. be 20 csuts !
er pound, on coffee 5 eeats, on suga, 81 3,
, aud 5 cents, aud on moIassss q esnts ser
>aIlsn.
The Fortress Monroe ceres poHdsn, Of the
sAhmore An1eriesn gives currency to The as. |
rssleu that Ex-Minis.er Faulkner actually
sisisd dispatches from his collss CUES in Fsr
y We 70 the rebel autherlt'ss at Richnond,
ma Wat be concealed severai iU the stem Of his
srgs piSe, d put number in Inc sh.n -