New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-07

what respect would bank secured by the
hypothecaon Of sse stocks and for the present iedees
BILE 10 specie be better than Government note capable Of
being converted into United States sccks imply by
taxation
The rate at which Government loan could be nscoted
would q course b. higher se. the issue Of the paper
ency than before bee money would De abund NJ
snd tie natural tendency Of this particular species Of money
under the feeling q drus. ia he public mind for
which The World il ia very bsh degree responsible would
be towards convention into weccused interest bearing
stock.
Having TINS answered the parcular queries popounded In
The Wo'd desire to saya few words in relation to the
general merits Of the whole subject.
am banker In the regular Of my business
every day thrown into Communication with mer Of standing
and reputation TO whom the Government largely Indebted
Tor supplies furnished by hem In order to fulfill the public
contracts they nave eHhaued their individual means ard
have buried 'hemseves in debt Their creditors are pressing
HEM aud they have not the with which 70 pay them
because they cannot get ,hrir dues from the Government
So urgent are thei' that they selling recog
uized claims a, dsccnnt Of from eight TO nine per cent
These mus. be paid They have earned their money! It
is due hem end they need II this moment to discharge
he own liabilities Every days delay in paying them IN
III B an additional blow the public credit renders the Gov
esumeni more incapable Of borrowing money and ncapac
a;es 1t from entering into contracts for obtaining ITS
upFes To pay such men ia Government bonds would be
digacefuL Tie aggregate Of their claims is enor
II they paid In intercsbeaing obligations, theF
necessities would force them dispose of heu In the mar
ke; the amount thu. suddenly thrown upon the market
would he infinitely geaer that market could bear; the
appreciation in ter value would he the contract
soui be heavy losers credit Of the Nation would be
ruined aud IL, capacity borrow the money -sary to
prosecute the would Re irrerievaiy They nuft
ecfrr be paid In money that money cannot he borrowed
pcdy enough ami eay enough to relieve the oyebur'
dslcd Treasury and the consequence thst II the Govern
ment has not money and cannot get money mus, MAKE
money.
In ihs state Of Affairs bullionist Though an, highly
approve Of ibis poraFy ue Of Cove notes made
ega ten irr II tie whole Of that Issue In fact 50
The Io,id effects to consider H. iredeemabe-i it were
TO be pdeycry impulse Of patriotism would urge me
acce sndto honor and IN lat manner TO aid the Gov
er1meni o. ratve fnd comroed by tie oycro~ering
uect-e. ofe moment TO resort TO this oHtrene IN order 20
preserve IT, own INTEGRITY. should look upon o. speedy
method Of collecting Necessary tar aud ouId caeeTfay
bear my share Of ,he public burden
And eatnot restrain ny indignation al seeing so many
caous made hinder uud delay tho Government ia its
e-cous to m financial diiealies by useless di''
cushions and tie sus-e,,on u endless theories II the Treas
ury not relieved inn sd4tely lie uui' end our eTy
anl navy mu.i dere cspal must be m to tie doubt
fui meFoes Of tie Sceorst., srd must be co-en TO
look upon powerful country dyieed end It's
ae to when the roof iai ns over our heads
Every nped 80 thrown 20 tho way o. the Gesefrneni
eycty dsc-,u wLch creates delay. swing cid and com
fort he rehs sll doing {, render their success
c'tsn hs SIC Ola the addition % their forces Of hundred
thousand DO noi .urre,e tn; 1le Ud tss reflected
fully ufoa the conueac-s il. course; but II hos already
injured .hc foroed currency IN advance Of It's issue
ald n g. succeed. ia delaying the scon of CoaTesi IN tie
matte fo ial.h larsr period g. win probably have tie
doubtful of f,us pence to h. distracted country by
the establishment; AID recognition Of tie 'eesl,d Southern
Corf.drfscy. Very respectfully,
Ae--.lo,k, February 2, lleA NORRIS hh4thlM'