The New York herald., 1862-12-27

Americ'n gold.i3IX l32 Illinois Central 1855 7sX
Pacific Mail. 1876 q 1867 Clev & Pitts. 481l 40
N ~ Central .103l1 a l03M Galena Chi S2ia s2&
Erie.. 621 62X Clcv a Toledo. 72h 72%
EnSio1 EriS psssITsa s'rsa n Sn R ds @ st%
Harlem....... " 22A
The announcement that Mr.. Chase's financial bill
contains no provision for further issues of legal
tender notes caused decline this morning of "a
q "a per cent in the premium on gold, which is the
measure Of public distrust. The decline would
have been greater but for industrious efforts which
are being made by spectators to create the belief
that the Committee of Ways and Means differ with
the Secretary upon the policy to be pursued. We
have authority for stating that all reports to the
effect that the Committee differ with Mr.. Chase are
unfounded and false. There is, on the contrary,
reason to believe-though no vote has yet
been taken on the subject in the committee
that that body will adept Mr.. Chase's programme,
and report it to the House with slight modifca-
tions; and it is not believed that any member Of
the committee, with the single exception Of Mr..
Stevens, is prepared to plunge the nation into ruin
by further issues Of legal tender paper against the
advice of the Secretary and against the over
whelming sense Of the mercantile community.
In the language of not the least influential official
in Washington, Continental prices stare us in,
the face if we issue any more paper" The
bill laid before the committee by Mr. Chase
appears-so far as we can Judge Of its
tenor by the synopsis which has been pub
lished-to be well calculated to answer the
purposes of government at the present juncture.
provides for loans to the extent of 5000 900 0O0-
enough, with the receipts from duties and taxes,
70 carry on the war till July, ls64-and it empow-
ers Mr.. Chase to negotiate either six per cents or
7.30 notes convertible into skies. Lest there
should be any scarcity Of currency to pay
for bonds negotiated, it contempates the
establishment of banks of issue by indivdu-
ais, on Mr.. Chase's plan; the issues of such
banks being irredeemabe pending the war,
but secured by deposits of United States skies
at par, and redeemable after the war.
in specie. We have never, f6r our part, relied
much upon the tales which are current about the
scarcity Of currency. We know, from official re-
ports, that there is nearly $400 900 900 Of paper
currency now afoat in the loyal States, which must
be fully $75 900 to 500 900 900 more than the
aggregate paper and specie currency that was
afoat in the same States before the war. II is
rather difficult to reconcile this plain fact with
the alleged scarcity Of currency" If, however,
currency be scarce, the spectators say,
banks Of issue will be established on Mr..
Chase's plan as soon as Congress adopts the
scheme for the simple reason that it will be pro-
fitable to establish them; and means of Floating
new loans''-about which some Of our bankers
seem 40 anxious---will thus be provided without
initiating values, depreciatng the currency, destroy
ing the public credit and threatening US with
Continental prices.n 1t is obvious that specua-
tors will, in the hope of securing more legal
fuui IN tha ct fhot
viii not be taken. Congress has no right
to assume this to be the case without making the
experiment. The farmer, the mechanic and the
laborer, whose burthens have already been doubled
by the depreciation Of the currency in which they
are paid, are entitled to expect that these bur.
thens shall not again be doubled until II has been
conclusvely proved that Mr.. Chase's plan Of
finance is impracticable. The best friends Of the
government in this city believe that 800 900 900
OF 7.30 notes could be sold at once at sG q 9s. If
the Cabinet were remodelled, General Mcclellan
restored to command and a victory won over the
rebels the price would be nearer par.
The business Of the sub-Treasury was as follows
to-day -
Receipts .........."........... s57s,746 81
ror customs. l30ltO %
Payments ass SS ~
baance ,.....s..................... s,S96SlI 10
The exchanges at the Bank Clearing House this
morning were $50, ais rs, and the balances
81 $685. ,s74 40.
The Panama Railroad has declared q quarterly
divid, nd OF three per cent out c. the earnings Of
the road, and one per cent additional from the
earnings Of steamers, &c., payable on the 5th of
January the Continental Bank, a semi-annual
dividend Of three per cent, free Of government
tax, payable January s. the Park Bank, a semi
annual dividend Of four per cent, free of govern.
ment tax, payable January .; the Metropolitan
Bank, . semi-anpal dividend Of four per cent.
free from government tax, payable January 8:
the Mercantile Fire Insurance Company, a semi
annual dividend Of four er cent, free Of govern.
ment tax, payable January >; the Portsmouth
Company, six per cent (sls per share), payable
December IS. Of South Berwick, Me.
The statements of the banks OF the three prin
cpal cities Of the Union for the last week compare
with the previous one and the corresponding
time of 1861 as follows:--
yors Dec y, ara tsn s s z. RgS.;c q r, ss w wrsss sss
PS.s PS:sn Bss Bss a. a. Asss ssls sS I csS sHss ss
Total s2s7 sssIs zlsse4 SIS s7essssi 2a42e $50
Last week. s2 25S ZIG 32s031 80 90 2iS z5I592
Last year 2b246soi4 I7s5O6,4e 5to7oo0o 67sS ia
The statement Of the Boston banks for the last
week compares with the previous week and for
the corresponding week Of 1861 as foows:-
DC 10, 1862 Dec. q, 1862 Dec. 20, 1861.
Leans. ........ s56552,eo7 l70co,3lo 66,els,1ss
Specie so4. y, 1sss 5ccsc g;
Circulation si2060S soo5 ,s64 e.1l2,l31