The New York herald., 1863-12-11

ASSOCIATIONS and OF the corporate circulation into nation
currency. the Secretary believes, and as he thinks,
nos without good grounds that all tho money needed for
prompt payment OF troops and for the most vigorous
prosecution OF the war can be obtained by loans on ea
sooAble terms who all interest debt and all ordinary
e1pendiures and part also Of the extra
ordinary expendi 0Caused by this war will be met by
the ordinary resources Nor does he doubt that through
wise legislation sustained by Intelligent popular will and
hupported Dy prudence and energy IN civil and military
aumnstfation national currency be approxmated
In recognized value to coin that q RESUMPTION Of pay
ents in specie can be brought about much than
even saneuine persons now permit themselves TO hope
The Secretary has already in general terms to
the reports OF the heads Of the various bureaus and
branches OF administration in his department pecu-
liar interest is felt at this time their operations and
especially in the operation OF those most recently brought
The Comptroller OF the Currency reports the oreanza
on under the National Banking prior 10 the 29tb OF
November OF one hundred aDd thirty four associations
all OF which, upon the suggestion OF the Secretary have
adopted the name OF National Bnnks distinguished by
der OF organization and OF locality, These Banking Asso
Citations have been formed IN seventeen States aud the
District OF Columbia, and have aggregate capi-
tai OF $l6 200. The great care and labor re-
qured for preparation suitable the
onal currency has delayed its beyond expectation
but the printing now begun aud the several assoca
ons will be supplied with the amounts to which they
are respectively entitled within few weeks Besides
the associations reported actually organized there
many others In process OF organization fhere Is hardly
State not controlled by the rebellion and hardly
siderable city, in which national banking association
has not been organized or not being organized Eveu
New Orleans is not an exception to this statement
Thus the great work OF ntroducnga national
currency has been entered upon spirit with an
perfect secretary thinks
he risks nothing saying that within the present year
the benefits OF the system will have approved them
selves to the sense and or the people that
will be beyond the reach OF successful assault.
A UNIFORM RATE or INTEREST RECOMMENDED.
The Comptroller has Indicated amendments the
law which the Secretary with him in regarding
important to its success among the most essen
al OF these, the Secretary the special
Congress TO the proposition for uniform ratio OF interest
and the repeal OF the section which the issues OF
national currency in any degree with State banks. The
Secretary also recommends as likely to DO useful pro-
ytl.n IN hA MAJ hp LAM far tna ~,
national bauks and also with the Treasurer and Assist
ant Treasures at such rates Of interest and for such
paid into invested under the orders OF judicial
courts 1t ia not impossible that in this way many mil.
lions would DO placed IN the Treasury at moderate rates
OF interest.
The Secretary has already referred recommends.
ton OF the Commissioner OF Internal Revenue OF
increased duties He cannot add anything 70 the general
considerations he has already urged favor Of augment
ing revenue by these methods 1t may be useful. how
ever to invite special attention to some Considerations
which enforce the accommodation OF duty OF per
cent year on corporate note circulation.
The proposition contempates duty OF one 9th OF
one per cent per month circulation and the Soc
retary Suggests. IN addition, one twenty 9th OF
twenty f.hs year Under the existing law the duty on
circulation is one per cent year certain proper
ton two per cent on amounts exceeding that proportion
aud ono fourth OF one cent deposits The small ad
dtion proposed will not be regarded unreasonable
ouerous when is considered that all corporate
ton IN fact loan by tho people 10 the banks without
COST except that of preparation without interest
cept the duties imposed on t. Tbs whole question, hen
Resolves tScN tuS-lS the proposed, 000od 70
the State taxation and the cost OF preparation than
equivalent to fair interest for the loan II not surely
It should be paid without demur as reasonable
trbutiOn to tho common welfare The duty proposed
on deposits IS much lighter, Tor obvious reasons. Its
whole amount is less than onehaE OF ono per oent per
annun and beng IN the nature OF tax profits, rather
than On property, wilt distribute itself among all who
partake OF the benefits Of tue deposits aud press hardly
On none.
1t IS proposed make the duty pa yabe in small per.
centages. because IL viii he thus distributed the
business Of the year aud by requiring monthly
lHdp IN Inn
duties Information viii be regularly obtained in respect
TO the amount OF circulation OF al descriptions iu the
whole country the publication Of which will be I'M
poitan benefit to all men Of business we'll q
able guide 10 financial legislation aud administration.
Monthly returns are now required Of many OF the
tiona banking ASSOCIATIONS, aud should be required of
all; aud from them, as well from the banks
not organized under national legislation, should be
qured fair contribution to the general burdens OF the
people. The Secretary reers TO Congress the question
whether the duty national currency and the deposits
of national banking associations SHALL correspond with
the duties other circulation and deposits. He thinks
that for the present at least discrimination favor
OF to national associations may be properly admitted
tonal currency not adapted only, like United states
notes, to temporary emergcucies bat permanent in its
very nature and adequate to all demands business
capable at distant period OF bong made equal to and
convertible into CON- aud therefore its rea, representative
aud equivalent.
OPERATIONS Ov rdE MInr-A ORIGINAL COINAGE
The operations OF tho Mint have bcea OF less mpoct
a1ce than usual during the last year.
The amount OF coinage was increased over nat OF
year at san francisco alone The value Of the bullion
~
IN silver 81 ,6II sos; from the total OF which be
decducted the bars made and deposited tor
S23,79l s3' The coinage o' the $24 68s, ATT
OF which SO 6gj, ,S5Z gold COIN 81 ,949, ,87z gold
bars 81 l7a,os2 silver coin $soo,oo4 silver bars,
aud siss,a50 cents of thus coiuage N,l84.497, in
49, los 4O2 pieces was effected Philadelphia $ls 55 sos
IN 2s12 l7a pieces, at sau francisco aud ss37 64:.
3,l0l geld and silver bars, at New York.
The branch mint at Denver has beea organized and put
u operation during the year but its operations
lined for tho present to melt'ng rsin ng assayng and
stamping bullion
report has been 10 oa a sis Tor mia. in Nevada,
aud measures VIII he 'ken toc ia establishment
as possible
The Secretary reoess ths recommendation OF preceding
reports rc,tou the measure or cpnnerc,
values by an International dectna coinage.
TH8 ''gRaASYEY PHDraR RhPoRI
Ihe operations OF he1rcasury proper havo reached
unWecedcntei magnitude. These conducted, un
der the direction the Secrenry BY tho Treasurer the
Assistant Treasures and the designated by
treasury received aud dsbutsed AZ receipts aud
payments have Increased 10 humber and amount. and
assumed new forms, the abors and responsb OF
these officers have taken vaster proportions OF magn
tuds and importance The general of
are seen ia the statements already OF receipts
expenditures, but general statement can convey au
ae iulte idea OF their variety, extent and perpexy
Ihe labor. and care. aud Sety incident tho bor
rowing receiving and paying OF the sums 10
meet the debt becoming due during year in otner
words the making and applying OF the
tue renewing OF maturing loans, make little show the
port and yet embrace transactions. often
cessariy mlttudnous which reached during the al
aggregate OF more than hundred and eighty one mi
whole money operations Of the Treasury may inferred
from this statement concerony q comparatively small |
part
Tue receipts at the Once OF the Treasurer in Washington
during the last Iscll year 81 s 029 543 and the
disbursements 3a 66 l75 Al the olce OF the Assist.
ant Treasurer IN New York the receipts 63 0I $40
aud the disbursements $622 St2 6Z1 At the Office OF the
Assistant Treasurer 10 Boston tbs receipts $118 oOO-
Doo aid the disbursements Si5 $50 600 tho Office OF
the Assistant Treasurer n Philadelphia the receipts were
sll3.1@s,Ojl, aud the disbursements Sl09, ,733 346.
The receipts aud disbursements the onces OF tho
Ass slant Treasures at san Francisco and Louis
OF the des ynated repositories, especially Baltimore
inc nnnt and Louisville, have been arge beyond prcce
icnt, imposing labors aud respDnsb bes corresponding
~ large Tue ccfeary cannot express too strongly
satisfaction with the manner which these officers have
gooeray performed their ana multiform duties
CAPTURED AND ABANDONED PROPERTY PLAarA-
TONS.
The act OF Congress- relating capt abandoned
property approved March L. 1865 and the proclamation
VI the President OF the 3ls OF the month"; devoved
upon the secretary the duty OF regulating commercial
ercourse conformity with the OF July 49, 1851
May 20 1882 andnder license OF the President between
ne states declared TO be ~ insurrecton
>tates Of tho Union or TO the description commonly
employed between the rebel aud loyal states THIS duty
AZ tom NO artu and ,no