, 1862-01-31
FINANCIAL AND COMMERCIAL,
MONETARY.

TurnaDAT, Jan. 80, 1862.
The money market continues excessively dull.
Discussions even In regard to the Issue ofDemand
Treasury notes, and other proposed financial
measures, have mainly become Aat, stale and IN.
profitable as Government moves 80 EloWly that
our people haye become tired Of waiting. Adyiccs
frem Washington however, asslte us that Home-
thing really will soon be done. As corroboratiye
Of that, we quote the followin. long extract from
the correspondence Of the N. T. Times OF Tuesday:
The Issue Of Demand Treasury notes, to the ex-
tent of $10O, 600 0C0. which shall be receivable for
al Government dues, except import dues, and bea
legal tender between nan and msn' may BE- rSgard
sec the measure matured. The fault is in limiting
the Issue to an amount not adequate to the public
removed b. future legislation. It was against the
ieeue of these Demand notes, and thc }egazing o2
IN ad o e?ta tna
to this datc. They desired notes that ahond run
two, three or more years, bearing mite Of inter
a. money would take no account Of, but banks and
capitalists. that finally fuudedkaud collected then
would and receive as mere atnitsn,foF 20 out
The banke and capitalists have lost their point;
Demand Treasury notes, bearing no interest, WI
asesled H. p d
This provision wifi, BY the creditor class Of society
be considered unjust But tn moras IT WI II not
| relationship between debtor and creditor The
pange and perls Of revolution which hare befallen
and laws-in spite OF Justice and cquity-changed
the relation between debtor and creditor: greatly
to the injury and suffering Of the former The man
sseR to tRe dsse
cifc measure Of value, which was mutually under
stood and acceptable to the promisee., But 3'G0 IN
gold aud silver now, at the season Of payment, is
found to be measure OF a much larger value than
il Was when promised. It bears premium in all
te current Transactions Of Lie wherein money Is Is
larger sums Of current funds, greatly to the impoy
n SSs I Se whs aTsbSSr szss
Neither party contemplated this inequality when
the contract to pay was entered into; Revolution
mo- moaisine III m he node Of payneSt and
tender which itself Will receive. merely relieves tht
oppression which IN accident has brought upon tht
laI1 and restores equality in the operation OF con
tracts between citizens Grant it that the cfedito
class loses something BY accepting Government
notes IN It Of daf Is Il 10 of III @
c1asses suffer so much loss and hardship: In TN
most nnfayorable view we can take Of the Law
that it guarantees absolnte safety to the credito
Class. The GortEn1htnt fnds itse!f tndole t9 pa
cues that what il can not do, with all its exhaust
less resources its subjects and citizens cannot dc
It pays its own debts therefore, in its own notes
in the same representatives Of value, whereby th
creditor gets the demand notes Of the nation !
exchange for the less amply secured notes OF III
! individual debtors.
This state Of thnes, TO be sure, is exceptional
brt is it not clearly right? Is it not an anomaly
is it not an absurdity: is it not a cruelty: TINT
the property Of the nation ct its command to pa
its own debts in gold and silver, and yet shoul
furnish laws, courts and marEhals to compel 4
i such inexorable rules would be heartleas n:
, chine, an instrument Of oppression, rather tia
! the embodiment Of the interest and sympathies
i people. existing for their protection and Weifar
! The writer does not giveus the particulars Of II
D bnl that is to pass, and nc must therefore ado
0 the good old rule ''wait and Sec" Our ownvies
t have been given 50 often that VIC need not rope
them here.
NJ. Exchange is still in excess Of the denau
r. The buying price is rar; selling x Of per ce1
:, premium The tiact that it has ruled at SO low
: figure for go many months is cure indication th
70 the West occupies strong financial position.
% Gold is rather frmer To-day, but the demand
t, still comparatively light The buying price is
,e ~ premium; selling 3 per cent.
v MuwAUKEE.-We quote a. follows from
T. Sentinel Of this morning:
~ Money matters were very nuiet ndwithout I
1e terial change yesterday. There vas not much
ID anything doing at the banks or elsewhere, the
ceipts OF hogs having fallen of largely, and the
~ dnce market continuing inactive. We rep
former quotations for exchange and specie, Eiz
ct f1o; ffeasufy Notes: i prem. Prem. T plt prt
nf THERE'S not mpch demand for gold and rates
-. irregular. While it could be had in smhn Sums
IN have been bought for less than 3h. Exchange
IS dull and rarely brings over Il premium a1
banks though the selling rate Is maintained
at q cent premium.
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