The New York herald., 1863-01-24

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A good deal of uncertainty and some anxiety
prevail with regard TO the action Of Congress in
authorizing issues OF interest bearing Treasury
notes. The second section Of the bill passed yes
day, as printed in this mornings HERALD, renders
these notes exchangeable for legal tender notes at
any time con or after they become due.u II is TO
be presumed that when they become due they
will be paid. What necessity for any provision
respecting their being Exchanged" As the biz
Originally stood these notes were TO be
convertible at all times into legal tender. The
change was probably made at the instance Of the
bsniSs, who feared, justly enough, that tho issue
Of s400 0o0o OF interestb bearing notes. convert
bic t al times into money at par and interest
would lead 20 general withdrawal Of deposits
irom tho banks. People would make their deposit
every afternoon in these Treasury notes FOR the
sake Of the interest. A telegram from Washington
this afternoon rather seems 10 intimate that the
section passed authorizes the conversion Of the
notes into legal tender at all times; bu. there is
good deal Of doubt on the subject. II the notes
are not convertible they will not sell above 90,
and the Secretary, who cannot dispose of
them below par, win not end many takers.
Debt certificates, on which per cent in.
teres, is paid In gold, are selling pretty
crna M untaa ,,t. sunS
over per cent aud that interest PAYABLE in
paper, would be quite dear enough. in compar.
rison, at 90. so far az we can judge. Congress is
more likely 10 restore the perpetual convertbity
clause than 70 adopt the rneaspre as printed in
this mornings papers, aud tho result will probably
be to superadd 20 our other troubles bank crash
worse than that Of 1887.
Tho business Of the erb. Treasury today was as
follows:--
Receipts ....,................ N,2c1 3tS II
For customs. l4o,eoo 90
Payments. '',.....s,. $500, ,0S "a
Balance IosJoiEo II
The exchanges 81 the Bank Clearing House this
morning were H5,sl5,i77 IL, and the balances
1906, 1873 90.
The Erie Railroad Company has declared divi.
dend OF Ave per cent, free Of government tar, on
the preferred stock, payable on the 18th Of Feb.
ruary; the transfer books win be closed TO that
day, from the I'd Of February; the Rntgers Fire
Insurance Company, semi.snnual dividend Of five
per cent, payable February 2; the Republic Insu.
rance Company an interes, dividend Of three and
half per cent on is capital stock, payable on
demand. aud scrip dividend Of ak per cent, for
which certificates will he issuod February 10.
Tho following resolutions have been introduced
and referred in tho Pennsylvania Legislature, with
directions TO report ON Thursday Of next week
Resolved That much Of the act or June a. ls40 a.
yeourcs the interest on the pnhic debt n Pennsylvania
"a bs paid In speoe OF s equivalent also the third
gee,ion OF an approved April IL 1882, be ami The
ssme are hereby repealed
anrsr 10 ray all interest alng due the public debt Of
tho on and after the st day Of February
A. ID. 1885, IN such uslss S NAV have hA~n Or may be