New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-03

orssent and immediate future. The hodllnE Debt Is
supposed 60 be upward o. fifty millions already uid
Il wll doubtless reach one hundred millions te'o
pesus of payment cfn &c provided by siy oi ibe
M hods proposed. The public crecitor- sre clam
orcls for tier pay, and a'e suffering fenons lnco
y.o,euce sud lore Tor want OF II. II u i IN the
: yer of Government to Jay EN-, good fal,n aud
I policy alike demaI that il should do 70 with
ossible prompliiude. To throw ulOu tie ma' ket
hundred mlllIOus If Government eecuiltics, 20 Dc
L. the highest bidders, in the pe-eDt CONDITION
iin2s. with the credit OF GOyeruu ell weaker I'd
magnitude OF IFS wants, tie mail et aigesdy
stocked With s securities, and II cai ilal avail
fr perinantut investments ala o,t exhausted,
..ta celv iil 10 reduce the piice OF q err ceufs
q, zoe g or les on tie dollar. This loss 10
overnnout aud Oh Is discred 81 lis Sc uiiIies murt
avoided u possible, espr Ialy wien we cousioer
thsse secan les would be paid for in iredee'na-
nank cufreucy-a currency III every respect H.
. ! 10 the legalizeO pal ar money ot Government
lirdnsmed ri eIuuiive, the laymeht OF pnhilc
t,rs ~ intorest-beS iiug Government seculhle:'
.., he sill wore. The utCe silies Of Tie credf
4. Wing lem would compel Il em 10 sell Il csc
q the Lighest bidders. Hence the sane de- /
+ wce would euSue, aud The same loss
- realized; but the pecunlary loss ~ 'lis case
al fill Iot Oh tho Government, but IN TIE hii-
, dutate DublN Crediion who rel ing on The good
ai,h Of Government, would ind 10 'nelr inn nal
their confidence had teen misplaced. An ALTERNATIVE
producing such results cai %, BE- enterAlle ed i0r
moment. ANY sacrifice wyus be preferable TO such !
q wsnrOn violation OF the public tnih.
II these views are COrrec., and Ii, as teheve,
fr.re M no other pTaCtiC' e Weans of metiu tue
5 Iu-e oia., wants OF the 4Ghc Treasury, 1t i,liuws
. @ he resOrt to Cove iient crrOit III tie 1om of
hiating notes becomes an absolute neecssi'N.
r resort creates ,a ljl, or rafher II trtusMutes
,reraiaent creoit into uOuty, wlic' Is one q the
4.,sk efficient and ayailaLle f.rins Of capital Gov
"a lnent thus becomes richer 10 Ike eNtort q the
sue without absorbing any Of T. c cal iGl Of iuGi-
lduals. J sm aware that you. Ike most oil er G'i-
sr.l Il 80
0opiinp dis e. Iedient With an much reiGcan a.
invaha swaloVs % uausealng pan. l lot OF
8 number, | believe The averslou 70 IL Is Ot vel
andec. but on the contrary that the measure ID
Sc u its.H Independent Of IT, necessity, ana tidt
( viii give us better currency than we e>er Ind
re. viii briefly state tie grounds OF O. j.. ttoi.
lley Is au instrument Of exchange. ltr oiii-e il
O.. azure the value and transfer tie cwuers ip Of
S. property o5,Iei ior sale. Wherc it consists Of
q GLd SILVER coin, its ayera-e III all commercial
t.tiie IT, as the statistics oi money prove, about
o. nfv dollars per c8P.t., tbs being tie qumity
r ir,d at The preseut tost Of producing ue PIE
e metals. TO ulake the exchange q ~, ley Tor
81 p coIunloGies an exchange Of eluyalert or
equal taiue,. al the quauuy were greater o. less,
i )ald Lot be true meaeuie Of yai"er. II ihe
rOieg consist OF coin and convertible paper.
tut acciega.e quantity viii sill be twenty doe
lars yer ceP't0, because the paper viii DIVE olt
OF 0cgiaiioL an amount Il cola equal 20 itself. SO
y Il o0Iai-t Of CON, convertible lai and l. ciiz
ir.saecinable pal er is aggregate viii st remain
tie SAP siucc The latter Wiil eX oi tie other
30 a!a.lu. eGuai IL In own i,suc. Hence Govern
nent paIeF Looey, made legal teuder, nislt be-
LsOtd 90 the extent 81 s o ger capita. wilLoul dan
Yer ~ ultimate GetasVnCut u tie CurrehcV; asd j.
tae suolnt cculd be kept within that limit IL would
D. the best aud most U.l'om ClrfeLCy ever kuoHu.
1hc dang Il and tie n schie are trauscrudiu- The
lmil OF so 10 Que Of population, which II e no
yot.o- hat the laws OF trade award Wien the
Teuer consists Of coin, or OF coin aud convertible
p1trI.
Eiir.r.ng the population Of the loval States az
o. goo, We need currency Of SiO0OJJO0'
pos to tho late bank suspension had of CON- tllh
dspctlrs and bank circulation about that amount
4 Il Lcw much les, because the 81 sion 80
Onre aashed uost Of q c0u frou circulation, AID
sisJ % ans ed the circulation OF bauk IOt,s. Ti-
leavOs hunE opening Tor Government Iaper
nouCy. Il is needed 10 hil tie cAs'iug vacuum. |
tlir. nearly Sit0t0O0UJ would be thus al soibed
VI nout Todu, any tsus!ble effect Oh NICE or on
tie or .uiatio4 Oh bank noses. Tue issne OF $50
co. 10, as pro- a, woua, LoNever 40 -si ii hiiy
~ te the cruchcy. and tAus tniduc, lIlcc; .utlt
Vtu,l tc merely sufficient 10 give heal iy lmulls
70 Luluess and thus enable me community Wiz i,.-
0hiy aud prom plitude 10 fay th,ir de'is rnd he
bea,y il,t- which an it JLem And even thlS iI-
OLs Would L0t he o. long cOninuaLcc. fnG tac Gov
elLUeaf inCHty would Ultimately disl lace al al
snon,i o. cola and bans notes.
A. Ger marked advantage 10 he derived from NE
b.gc ard lclalizsiIJn Of I'll, money would be Us
eou,Hlion Of Tue dOmtsiic e&c'ata a., ANA lis nn
!tIIniv 81 Nul.e everywhere Wi.Alh our boiteiT
Tbi. IA rautaee can scarcely lie Oyeies'imae d Do
taIoa eli bank usTeLsiou, when tie ratc 81 eA-
q .rrr o,tNccu different aies old seci"i o. tie
Uro1 Is known by l4st eAielence to clAer 20
w.tl,.
4. Lave sid before, tie only danger TO be ap.
pre- OH otd from tie O. ii- sud Il money j. us
s6ns-i. q issue -Four hundred uilhou- wouid e the
rs,iIun. Init ii We intended " abandon bo'n CON
an hank currency. lhrte Lut Cird millions
woq'G he tls naAimu'u, II We Intended only
q ff andOn The u.c Oi banks II CtlOit a.d
'... alton. fer ole hundred millions 4 q M is re
20, ierrlargc ana O.hor titns. cti.ns un;er i've
e, bt..r WLich colonization Tire PAPER money
Id itt hc i.sleC. Iiut 100 oue dcsIr,s tu aba4i-
,n.cr iaukiug tys EN-, a. taH no. al Irtsrut, nor
ewes, interfere i4Jml0gsiy with td4k motifs
4. Coudu,, toWaia he Gogeinrent iaE been
H., lpcul and Iaiuoil', ana L,uce the Govern
u.eDi ,Lould sc'uluOutis avoid any lie ~ Iotcy
hk,h o. cripple item. FIR tiis i,asOt Gtcm u I
iups.psf go isye 10 e thou one hundred and hty
Mill, o. Government money, when would s..irtly /
egria3 sac discounts Of ejaculation OF th- h1.ne,
= sile would preai y stf,u i.4c ineiy isc.p-i J.
e we q al thcii asse's including Government +
Iasru.y Lo'cs ald bouos. AUD Do your lioiao-,d
.rsiaY l4W fhail be adopted VIII gieatly f,.ni-
ia iL-.r iu cDni0iuiag 70 IT, pro,i iolt.
'te.c a.eI' b.le ~ ltators for Itl = tie fdo,-
Aon sol til- ucasuie base an uIlO4Lfrg .aifl in /
..eii -naud ess. Our Ieol ie have Zee, g.. shicl,a
I.ttnmtii pl"r money, iyIsJc.Ll-t- i.-ue /
uns iar revolution j 20 Wa, tie abuse tie
e. .trm, io. Is ure. LoOA a. Great Bii,.in Which
g. .'d 80 ai,Iost uLi.;euused War ~ In,i IA.
pJtoA ..f gsaft-I cd &C. liury, Win 20 oil. er /
tpht. ililI PAPER lltce BE- al ttDder, Which ~. e
To- ncA II that IJug ieipl uearly 1T pr vltn
greer ana ai 10 uue more iu IS ltgteut Discount.
shoti rt!rf u coAsii uuuua limitation 60 me 2
bMv1Hl 70. Government p.Ier money; nu', l1 49, OD.
sstce all confident lheie IL ot TIC oil. Ltes hazard
IL .sauiuB Tie OuAt prOi os.o.
- ' HilOitait, h0|eNc4, tnai thu measure sh0uld