Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-02-10

ITf1mihe New York shipptnE Last.
Pending the passage Of the financial h'i!
bv Congress, the financial situation conltn'
ues unsettled and uncertain, and the geu-
prnl aspect OF affairs rCmHi1s without rs'
sential change. One thing seems to be
pretty conclusive, however, and that is, that
the power TO issue $500 100000 IN month";
terest bearing Treasury notes, will not be
conferred upon the Secretary Of the Treas
ury, who, We are glad 10 believe, does not
wish any such power; but, on the contrary,
decide div objects to It's being conferred
upon him. The amendments which haze
been made to the bill which passed the
House are very important, and all OF them
are believed to be IN Improvement on the
original. II the bill pass in its present
shape, the Secretary Of the Treasury Will
be authorized 10 borrow 100000, 900, aud
issue therefor coupons on registered bonds,
payable after such periods us may be liked
by him, not less than FIVE nor more than
forty years from date, 10 coin, and Of such
denominations, mot less than $500 AS lie
may deem expediCnt, such coupons OrbOndS
bearing interest ut u rate not exceeding SIX
per cenlum per nARum, payable in bonds
not exceeding 500, annually, and on all
other bonds, semi.GnnuAlly, in coin. The
Secretary may dispose OF such bonds at any
time, upon such terms rs nc may deem most
advisable, for lawful money of the United
States, OF for any certificate Of Indebtedness
or deposit That may at any time be unpaid,
or tor any OF the Treasury notes heretofore
issued, or which may he issued under the
provisions of the bill now under cOnSlderA.
ton. All the bonus and Treasury notes,
or United States notes, issued under It's au.
thOriiy shall be exempt from taxation, By
or under State or municipal authority
The Secretary will also have power to
issue $500, 900 in Treasury notes, pay.
able nj such times, not exceeding three
years from date, rs he may determine,
bearing interest ut Il rate not exceeding sir
per centum, which interest, on oil notes
for less amounts than SlOO, shall be pAya.
Bile at the maturity thereof, and on all
notes 70 SlO0 and upwards, ut such time rs
may be authorized on their face. The in.
forest upon these notes. aud on certificates
OF indebtedness and deposits hereafter 10
Lc paid in lawful money, III" notes TO be
OF suGh denominations US the Secretary may
deem cxpedient, and less than Sl0 each,
aud receivable for internal duties and all
debts and demands due to the United States
excepting duties on imports, aud shall be
legal tender at their face value, cxclnd.
lug interest, al the same extent Hs United
States notes. With the adoption OF this
section, the necessity for my further issue
Of legal tender notes will not exist, and
there eau arise no public "exigency' which
cannot he provided tor by means of the in
terest- beating notes und the retention OI
the clause authorizing the issue of $500.
100000 in legal tender nOtrS-Or, indeed
uny other amount is therefore highly in.
pOlitiC--as il is entirely SuperiluOuJ AMI
calculated TO exert an evil influence. We
trust, therefore that the issue OF greenbACkj
will not be confined to half the originAI
nmOunt-which is reported to he the case
but that the clnu9p will he wholly stricken
out.
There is little doubt that the passage of
tho legal tender clause in the House was
the great incentive to the recent active spec.
lNtiye excitement under which gold was
run up 10 100 per cent, and it is evident
that the subsequent reaction and prevail.
ing llctuating tendency Of the market is
owing 10 the fact TINT the bill was arrested
and will pass the Senate with important
NmGudmenis-the measure 10 lac; defeated
itself, by enabling the spectators to force
gold to sucha high mark rs to create a
feeling Of alarm III Congress, which, from
prevailing indications, will rcsult in the
passge Of the bill wtiOW the legal tender
clause, md With the banking scheme OF
Secretary Chase, which it was thought
could never be passed. The probable result
Of the passage OF the hill AS amended is fore.
shndowed by the pause in the great sppcu.
atiOu, which, but few days aEo, was SO
conspicuous feature at the stock market,
and threatened to extend throughout the
qualifications of trade.
There is not the least excitement in gen.
era! trnGr circles, and the markets are very
quiet under limited demand. or no De.
mAnd. for nearly every description of mer.
cIihudisc 4 few articles continue to sell
quite freely, but the general tenor Of the
market is depressed, and most commodities
tend to lower range OF prices. NOtwith.
standing tie TACT that the premium on gold
keeps up to IL high figure there seems to
be general conviction that the general in
AAtion has already been forced to its
utmost limits-and, unless fresh issue Of
paper money be authorized by Congress, II
reaction is likely to set in ut any time, un.
der which prices may decline with the
same rAnidiIy that they lately advanced.