The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-08-28

An effort is being made by certain politicians q
induce Mr.. Chase to set up bank note engraving
establishment at Washington for the purpose Of
engraving the legal tender money, postal cur.
rency, &c. Thus far the Secretary, with his usual
sagacity, has repealed these suggestions, and de-
elined to create dozen or more new Offices for
the emolument of deserving politicians. He Il
well aware of the fact that new engraving
establishment, with no other patron than the gov.
eminent. could not compete, in regard to the
beauty and excellence of the work done, with the
long established and experienced companies in ex-
isteIce in this city, 1t would take years for new
concern at Washington to produce bills which would
defy the skill of the counterfeiter-as the legal ten
der notes do. Nor can it be supposed that Mr. Chase
is blind to the danger Of entrusting hired agents
of government with the power Of overissueing 60
vernment money, when he can secure perfect i'm
munity against overissues by dealing with wealthy
corporations whose whole capital is at stake, and
would be lost by such an accident. It is not 20
long since Cobb, and Floyd, and Thompson, held
sway in Washington. If there had been govern
ment bank note engraving Office in operation in
their time, they would have had few extra mil
lions struck off for the use of the rebels. If tho
government was over paying the bank note COM
panies for the work they do the politicians who are
worrying Mr.. Chase might have some excuse. But
it is a fact that the United States government 10
getting its work done for fifteen per cent less than
was ever paid for similar work by the. Bank De-
partment at Albany, or any other bank department
or bank throughout the country.
The moneyed public in Pennsylvania and in this
State have been lately busily engaged in picking
up the securities Of the Pittsburg, Fort Wayne
olla DaiI fary fhn
first mortgages have risen from 80 to 81. the
seconds from II to 81, the thirds from so to 81, and
the stock from 80 to 80. The advance arises main.
ly from growing appreciation OF the geographical
advantages of this line, which may be said to run
through fine country from our greatest centre of
manufacturing industry to our greatest depot of
agricultural produce. The present net earnings of
the road amount to FIVE times the interest on the
first mortgage, and to twice the interest on the
whole bonded debt. They will leave, this year
after payment of all interest and expenses, Q sur
plus equal to about IL per cent on the capital
stock.
The business of the Sub-Treasury was as follows
to-day
Receipts. 50 e62 s91 o.
Paymeh's.. S3I4,iOl "
balancc 7,l66,432 u
The Scotia for Liverpool to-day, took ont
$500, 775 in specie.
The Chicago and Rock Island Railroad earned
the third week of August
1891 ....................$ sS 36s
lS62........... ............... 2s,sT2
Decrease. NEUTRALITY-SUSPICIOUS.. 50 ,4o1
The earnings of the Cleveland Columbus and
Cincinnati Railroad for July were:-
1902. $l3l 1886 80
The Shipping and Commercial List furnishes the
following statement of the exports of breadstuifs
from the United States to Great Britain and Ireland