Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1863-12-12
TELEGRAPHlC.
REPORTED FOM rBE sTATEsMAN
TIE VERY LATEST NEWS.
Up to e O'Clock this Morning.
Morning and Noon Dispatches.
Cor u.,on OF Ohase,s Report.

The Government must now borrow like any other en-
pIoyer Of o,pital, requiring more than his income viii
supply and must relv for the means which Will secure
the ADVANTAGE 81 loans upon good 'aith Industrial
activity accumulated, though not Immediately available
capital aud sactory provision for the puoeua pay.
ment Of acc-uing interest and the ultimate reimburse
ment NJ the principal to subscriptions for tha remain
ipg 52Os and deposits for Temporary loans therefore
must now be directed all reasonable expectations OF
meas for the service OF the current year. except om
p11otiaops under the act Of the last session, The
,us 10 be looked for from these two snurces have al
ready been stated and amount to sl26 0j9 600. II THIS
aggregate be deducted from the amount TO be provided
by loans for the a,t months OF the current ye,
already shown to be 1852 500 there will remain the
sum Of 1926 1866 900 to be provided bV negotiations I'M
der the act OF last session. and under somo like act must
be provided in like manner II the continuance Of the
The sum OF s544,v7s $40 10 estimated as what IL
10 be needed from for the fiscal year 1865
The act OF last session authorting the loans
to be required for the fiscal year 1864, and Of the
amount required for the expenses OF these two years.
to the lst OF December, now current. -
$3.50 OF OOO0 In q. 8. notes aud $4,000 O00 by
loan for Two years at per cent In Treasury oes,
have alresdy been provided under that legislation.
The act 4, so we'll conceived and expressed hat itie
other eQslat on for the loans of 1864 and 1865 VIII DO
required than the application to these years Of Ito
II viii doubtless be thought expediert this session TO
ShOss the S hs O ono or the %
year. Indeed the only notifications OF the ecl OF e
last session necessary to adapt to the requirements
OF the current and commencing year seem 70 oe; &
or lost and to replace by new ssues "a tne repea o.
the existing limit Of the deposit loan to sioO OooVo
and the substitution OF provision Tor
in amount TO hN the deposit; 3d. the possession OF the
negotiations OF loans Tedeemabe abiolutey or AZ pea
sure at time 6xed, not more remote than ioity yeas'
and 4h the omission perhaps, OF the clause taAns ne
orcuIalon and deposits as being more approprato 10
an :rna revenue bill II |, believed the otner pro-
yi,ops Of the last may be retained In the new loan act
uader such legislation. .,,,...
The Secretary little doubt Of being able TO
Obtain whatever funds may be needed through loans AZ
rates OF interest for boId or Treasury notes
Por a warrant OF this confidence, however no Iehe.
much the support 10 given to the public cIeam oy
the national auking socies, aad By the enationalhon
Of the cure ncy There 10, as he thinks no pessuly
Of permanently successful adminslratlon OF tne mn .n
oes under circumstances invo wing the ceaton OF iaBo
debts unless loans can be effected 10 medium OF gen
era and equal credit throughout the county, aud NOV
liable to variation IN quality or In value. except unoo,
the operation Of national legislation and the genera
laws Of trace -
The eecr tsry asks the special attention OF ngreU IA
the proposition for uniform rate OF Interest," and ihe
reles OF the section which connects the issues OF ma
tionAl currency 10 any degree with state osnks. ths
Becreiary also recommends provision 10 be made oy
law for the deposit with the national BANKS and, as.
with the treasurers and assistant ireasuIers at suel
rates Of Interest and for such periods Of time as nt
Secretary may prescribe, Of monies paid into or invest
ed under the orders Of the judi ial courts 1t mol
impossible that in tn 8 way many millions would Dc
placed 10 the treasury moderts rates OF Interest,"
The Secretary refers to Congress the question Wheih
or The duty on national currency and the deposts
national backlog socatlons shall correspond win tn'
duties on other circulate and deposits He 'hinksio
the present, at least some determination In favor
the national ssseciaonB may be properly admueu'
ration OF the Indispensable impoIafc co OF ma
tonal currency, not adopted only Ike u .. notes u
temporary emergencies, but permanent 10 us very ma
ture and adequae to all demands OF business and ca
psble at no distant period OF being made equal ant
vrahe with con and therefore It's real representa-
live and equlvalsnt'