Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1863-08-21
Confident Of Ultimate but
not Speedy Success.
National Currency and Nation.
al Banks.
No Change and None Expected
In the Potomac Army.
POSITION OF LEES ARMY.
FROM WASHINGTON.

WAsHIHGTON, July ~.
The Navy Department is informed that
the bark Gem Of the Sea captured in July
last the schooner Georgia Of Nassau, of
the coast Of Florida.
The steamship De Soto reports the cap
ture by her Of the schooner Lady Maria
for violation of the blockade. Her cargo
consisted of 104 bales of cotton.
Lieutenant Commanding McDougall of
the steamer Hendrick Hudson says that
while cruising in the vicinity Of San Bias
he found on and in the vicinity of the
beach, 238 bales of cotton which had evil
IDENTIFY been washed ashore only short
time before it was discovered.
The steamer Colorado chased a rebel
cutter a short distance to the west Of
San Bias, and in efforts to escape the cut-
ter threw part Of her cargo overheard
supposed to be the cotton alluded 10 by the
commander Of the Hudson.
The De Soto chased a rebel steamer
which was obliged to throw of her cotton,
one hundred and seventeen bales, in or
der to effect her escape. The cotton was
picked up by the De Soto.
The steamer Fort Henry captured on
the coast of Florida twenty-five bales Of
cotton and eight contrabsnds.
The act to provide National currency,
SC, authorizes the employment Of the Ma
tional Banking Association created under
il as repositories Of the internal revenue.
As such employment involves the duty Of
requiring adequate security for the amount
deposited, the Secretary Of the Treasury
has come to the conclusion to ask from the
National banks desiring to receive such
deposits to place in the Treasury Of the
United States six per cent bonds to an
amOnnd equal to ten per cent. Of their cap
itsl stack and to give the bond Of the di-
rectors and officers to an amount equal to
their capital stock as security for punotu-
al payment of all lawful checks for depos-
its, each fsg not less than one
tenth Of the capital stock, and
equal TO it ia their aggregate amount.
There can be no objection to such bonds
being accepted, instead of joint bond.
If good reasons shall appear, the cOnclu-
sion of the Secretary viii be modified.
Inasmuoh, however, as 3 number Of
banks have been organized, and as yet are
without circulation, Secretary Chase pro-
poses to direct deposits to be made with
SUCH On LbCcANAuk 4AoAA
of their respeetiSs- boards Of Directors,
fL-l slI1 UOnds already deposited as securi-
ty for circulation, may be held rs seeuri-
ty for deposits, leaving the additional
bond as well as the bond Of the directors
and others 10 be given afterwards at any
time before the furnishing Of circulation.
Should the assoeietion prefer, instead Of
giving Joint bond equal to the capital
stock, they may give separate bond OF
Directors and Stockholders
After a consultation ibetHAen him and
Secretary Chase such amended - gulations
concerning trade in the Southwest yill be
published as the condition of affairs il kAst
section will admit OF.
Information from the Headquarters OF
the Army Of the Potomac say there is no
change of position by the army.
AdVices say that the rebel force arsnnd
Culpepper have been reduced to General
A. P. Hills command, while Generals
Longstreet ann EWell have moved south
ward, probably to Fredericksburg.