New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-20
AMOUNT OF DEMAND NOTES In CIRCULATION
Commissioner 3outwell's Report
IMPORTANT BILLS In CONGRESS-
,ssl., Dispatch 10 The N. Y. Tribune.


W.sHisGroy, Monday, Jan. 10. 1854
THE WAYS AND MEANS AND THE PIEAsCfAs
MEASURE.
The WAYS and Means Committee this morning
acted on the report of Subcommittee Spauding.
Horton, and Hooper, of their interview with S,crs
iary Chase. BY vote unanimous save enc Olsen,
tent, they gave the Secretary power to sell bondi
al the best price he can obtain. They aso took
away from the holders Of legal tender notes the ghi
70 convert them at pleasure into twenty year bQrdt
Tomorrow a bill viii be reported thai satisfies both
tic Committee and the Treasury Department.
SPECIAL MESSAGE FROM TIE PREsIDENT-TiR
PAYMENT OF THE ARMY AND navy, ETC.
Just ut the termination OF the finance debate this
afternoon, the following message was received from
the President:
To ihs Senate aaS Houss Of Rprsses,aiivs'
have signed the joint resolution to provide FOE
the immediate payment Of the Army and Navy OF
the United States, passed by the House of Repre-
sen.atives the l4tb, aud by the Senate on the 18th
inst. The joint resolution is a simple authority,
amounting however, under the existing circan-
stances to direction TO the Secretary Of the Treas
ury TO make an additional Issue Of s00, 0c0, 700 in
United States notes. if nucn money is needed, for
the payment Of the Army and Navy. My approval
is given in orter that every possible facility nay be
Afforded for the prompt discharge Of all arrears Of
pay due 10 cur soldiers and our sailors.
While giving this approval, however, think
ny duty 10 express my sincere regret that IL has
been found necessary to authorize 80 large an addi-
tona issue OF United States notes. when this circu-
aton and that Of the suspended banks together have
become already SO redundant AZ 10 increase prices
beyond real values, thereby angment'ng the cost Of
living to the injury OF labor and the cost Of supplies
to tne injury Of the whole country.
Il seems very plain that continued issues Of United
States notes without any check TO the issues of
pended banks, aud without adequate provision for
the raising Of money by loans, and for funding the
issues 60 us TO Keep them within due limits must
soou produce disastrous consequences and ths mat
tersppoars TO me 30 important thai feel bound to
avail myself Of this occasion to ask tie special attea
ton Of Congress to it, That Congress has power 10
regulate tho currency of the country hardly adj
nit OF doubt and that judIcous measure to prevent
the deterioration of this currency by a reasonable
taxation Of bank circulation or otherwise, is needed
seems equally clear
Independent OF this general consideration 1t wsuld
be unjust to the people at largo to exempt banks
enjoying the special privilege Of circulation from
thes just proportion Of the public burdens. In ore
der to raise money by way Of loans most easily aud
chesp!y, is clearly necessary to give every posi-.
Die support to tho public credit. To that end uni.
form currency, in which taxes subscriptions 10
loans, ard all other ordinary public dues may 10
paid, is almost, if not quite indispensable.
Such q currency can be furnished by banking
.i,al al 80 ~
gress, suggested in my message at the beginning
OF the present session. The securing of this crcula-
ton by .he pledge Of the United States bonds %
herein suggested would still further facilitate loans
by increasing the present, and causing future do
mand for such bonds. In view of the actual finau.
eial eubarrassmeuts Of the Government, and of tho
greater embarrassment to come, il the necessary
of relief be not afforded, feel that should nee
perform my duty by simple announcement Of my ap.
provul Of the joint resolution which proposes relic.
only by increasing the circulation, without express
ing my earnest desire tina, measures, such in sub.
stance those have just referred 10, may receive
the easiy sanction OF Congress. by such measures
IN NY opinion, will payment DO most certainly
secuted. not only to the Army and Navy but to all
honest creditors of the Government and satisfactory
provisions made for future demands Oh the Treasury.
ABRAHAM LINCOLN.
Az the reading Of the document proceeded, curl.
o.ity gave place to astonishrnent The recommends
tim to Congress TO adopt Secretary Chssss banking
scheme provoked laughter over most Of the House.
M. Washburno's motion to refer the message to .
SPeciSl Committee was speedily laid on the table by
vote Of e. to 20. While thus placing tho document
where the Hoase could handle it tomorrow, the
preston OF irritation q. what was called the inter-
ference and dictation Of tho President was very
general. The message fell on u very thin Senate.
The printing of it was refused by the few members
present, and the adjournment took Paes In greater
aud more general expression Of resontmont at what
distinguished Senator called the Presidents grow.
ing habit of returning bills with bis signature ac-
companisd with lectures TO Congress for having
passed them.
ONE MILLION DOLLARS PER DAY PAID TO THI
ARMY.
Tho semi-oiOcial announcement in this morning
papers, 70 the effect that nearly v,llqa day Ia,