New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-12-03
The following is an extract from tho circular OF
Samuel Hxllet e. Co:

Samuel Hset e. Co.:
The srIs,y felt to the forthcoming report ofMr Ch,se
still hangs cord tho financial horizon. Whist he
will recommend yet little than conjecture His
mind undoubtedly Influenced BY considerations peculiar to
position not .iey IN harmony With The s' ,o b. Ia.
Gently performed The subject IL one Of real difficulty and
preserving constituent record s tho solution ,hi. din
Guilty DO fer easier than he msstnes or rather tho Po
ton Ct ,f, sueh that only Que path len open for him
he only question for him consider 10 how be utilize
%. spa % 90. ,od.y .S Ss ar, ali the
prosecuting the wfood men, clothing aud munitions
Of eli kind. so far he has found difficulty whstever in
supplying the Govspnsnt With all these by the issue Of De
Treasury no;os tbs $40 OOO 600 ssued have evsisd
such issue plain to that tho snoImou, expenditures Of
tho could have been met, ana that without w. IN
EXISTS, the greatest financial distress. snd almost universe.
bankruptcy would have been tho result notwithstanding ibo
great wealth Of the county such result Is due simply 10 ths
which Government. has syaed iseH Of the wealth
How can il do ,h. for the fSturoi 1t can By shaping m
policy In harmony with public opinion. and by carefully
yodpg Whatever may excite apprehension alarm Money
Is moot abundant today Yet u oovernneDt shond cone
into tho mahei for comparatively small osn tho rates
would be immediately advanced loans called In and Few
oues refused cause whatever than dtrust as TO the
future Apprehension has the same eject upon me act as
the actual eIDsnce VI tho condition or state oil ata that
WAS feared
Gov.rsmsG consequently csnno. adequately supply ito
wants by direct loans Ths thnG impossible at the sane
tin capital abundant ard tue credit Of toe Gov
high But this ca A may be had TO any extent oy
policy which shall preserve confidence in the futurs-A
policy which ia tho necessary coalition of easy money
market
Two ssps Only neesuaryfurthsr Issues Of demand
notes and desirable security iGio which they can be CON
vsred. such may TO ioDs bOnd. though nay bear very
ew rate interest The effect Of tbs 81 demand noio1
to reduce the Undor tho Influence Of the previous
..us the ratio. Of Interest thi. Tor months tho
season have been low A. cent 80 lspg 40 such
prevailed conventions OF yaIt amounts OF these dem.nd
note. would have been ad. proper security been pro-
yis5 snd III, they began to effect tao OF as
essd could chen h,vs been tsd by ffesh issues
ssicn wien rae. .ol would be retired Ia similar manner
Ia
part Of ia obligations IN tho shape VI loHg bonds bearing low
s. Of issTss to an s1ens very nearly not quite equal
No other coare 10 now len open for Mr. Chase-nons
asi,. gndeT any ere am.anoes could prh,by be devised
IL 10 entirely in harmony with the puoe Welfare IL relieves
al spPssnson a. TO the foIe Such policy lends to Put
-. s.t ,sdIe.ts, and ore Of n.so,i.trs
,an d,cornsted with iisge Of demand notes 10 the dit
go. ,uce., And vsnt--bsyeen fult Treasury
ard no money whEisve.b,twesn seivy In all the depart
msns CT business, and universal enoarnsnens AID wds-
'Ped tsnls?y T9e peey 70 Dc Ss nss
40 mattel whs, Mr. Chase may recommend Necessity
viii dslsriEs the policy OF Cobgsss Any atsrna,iyes that
be possd By him en- ooverts behind which he
NAV s.sisy retreat They may provoke some di.ca,ion
AMI ts- attention from tue sYpAent neon,irenoy OF adj
voca1lnI OF sbe'ns policy inc'a'bsent wish the known
Of The head o the Tfsa.siy Aay attempt 'upef.ede
~nl Ieesainerd viii be uuey fntie As cannot got ore
fourth Of u. bs,. Of either beu'e 10 60 for the measure
optional the banks would avail themselves
II made compulsory within any period neee'sAy TO
,sppy money the PsssIs ersoacss Of ooysrEisn
IL would baHkraPs the wnols community
II could BE- .sepisd without rnoArfs"ins The public
would 90 nnuely harm Than god he whols ides
upon which ssley fund /, founded 70 radically false.
currency TOT the country ssys DO ono mat msssufes the
Volume Of urfchnd,s ps,siGg from band 70 hand The cur
e.ey gfths b,ls Conducted merely sJmbos o. or to
deeds such tTcnandss heeysr they ss issued with
out eoIsuonI nJury ilaisd upon The public cor
responding such sIcss "he!s securities ae fequedi 10
DO dep7s of the redemption Of such 'saes there Is con'
uos 10 pat eli cuatn without any refer
the real capital which sie ud be loo ked
10 then TedsmpnoE-tAe ol. reee'aDis Of Ihs 0aIA
Tho now.EuI ID system, where NJ security Whatever 10
eIaot-a the .snpaon Of Gs bill. N eca.ion Is vastly
ussr than ke~Iofk safety system, which 70
pforiJ. security The former saer and more eoa'
vsaicEt tue pubc and at tue sAo time nos pohaos
Tor NO Dsnka system conpes every b.Hs Ia New
En.asd 10 mae bills equal - Iold every day tie
u b.k at the center e tie system Boston bush
sy.iea only ed for tho whole cuanirJ, IL
s,od eurfsucy safety faud syAsni ~h.eA wsa ~
tine the iAo thai stcA attempted Ia lie
W cat lew IeAIs ago.