New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-12

legal tender in 81 contracts has been approved BY the Commit
e Of Finance Of the Senate ard will probably pss that body
without Hal alteration cep, that the interest the OBJ
legations Of the Government viii he made Isysbe In specie
an Of Treasury a part Of the machinery
toa would have highly prope and iudici.us but
have crave fears Lat the inversion Of the pfope Of
islaon which provide some prospecye means Of psy
mert before creating liability, may prove disastrous The
scion Of conges in its shape justified the
Of imminent necesy but such necessity is The result OF
previous naton and with Competent management Of our
ty yet been touched Not person has vet contrib
utcd dollar to The war except contributors the patriotic
fad aud mpos. duties While the expenditures peace
footing have probably increased fourfd no ne financial
Ct any sccoun whaevc. has beer insuaura'ei
Tie Treasury has relied almost solely upon borrowing while
II hes aiken exactly the course most cat.I 20 Destroy the
credit Of the Government and involve The country IN financial
disaster No war ne magnitude Of 1ie wisigg
tuTe which Transports the available capital Of tie gts.
tay ceutrs 70 distant sections ard makes provision for It's
return. The banks were broken by diftubance n domestic
ealsrse MIR Chase drew gold on hi. baf losn For time
always owes tie city. When thee were harged the re-
ceased It can ouy bo Sc IN rnoton bv lapse of
tne or by system of taxation which ha draw alike hom
every section money for the support of the tyro in
finance might have Thu shiest prcvi.i
made to o7unteuct the Inevitable consequence Of such
transfers Of capital the cousequec Of
credit aud usua expedien an in violence
which later destroys all independence Of action and
compes the subject to drift poHerles in the event.
eagerly aping ct anything that may afford temporary relief
no matter how much II may add to the enbGrlssnen % to-
Only two short months ago the Secretary Of the |
Treasury earnestly condemned tie very lie is
u o. his Influence and power press through Conpes' TO
meet crisis which would not have existed with
HOdeo experience In fusucs affairs any Idea or plans
for the future.
The eond Of the National Treasury !. the great cloud in
tn horizon Mitry matters are prog essug iayoisoly-
owly 70 besure but tie yhelnBg strength Of Govern
le Ginning tell The rebel. appear tobe inca
pnble offering eectual resistance each
bcrns 10000 and lied with every engine Of
The Of there will 90 far to prehen-
soDs 81 foreign Tie fear 81 this bas resulted ether
rom the imbec,y which, admit, hsve 90 far displayed
lan from any reasonable pteIt for intere We be
eve shall have further for regret complaint on
tht Government seems to Lave thectusAy broken
through the web OF routine, iDcapscty which has re-
strsined efficient scton But all this does pay debts
demand for III, securities OF Govern
but such demand only have the effect 70 ncrsse
the disturbance In commercial circles which has already
forced the b ms 10 suspend
Matters cannot DO restored 10 healthy condition ill they
enable the bants specie payments Every day
with system rather Of system they further
and further from such asep Till h, taken useless to
eGPtc; souudness any Of the departments Of business
trade When is, We 'ha be the hIst TO second It, We
the OF Government ardent and We believe
able support, when such suppo most needed Ns
showed week after week what it, credit had and could
be ade be- In the face Of civil and Of continuous
defeat: the bends Of Government ads auced from H to ~
Ihs advance due confidence f,t IN its aud
strength But has taken adequate steps avail itself Of
this strength consequently IN the midst II victories its
bonds have sufeedh ssdla aud heavy decline IN
well IL peace finance Include every thing che while these
arc wlopg nothing can be night