The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-22
MIR. Chnse's Fina nctnl Plans.
UNIFORM CURRENCY AND GOVERNMENT BAsE

fFrcn, the London Times, Jan. 81
= but the most immediate effect OF Mr. Chases
financial scheme IL sanctioned will be important
change in the American banking system. He suggests
the establishment, of banking associations authorized 10
that ito be furnished by the United states
alike IN form securei alike by United States bonds
Mr.. Chase strongly I-gcs upon the Committee OF Ways
and Means the importance Of this to the nego
tation OF aps the collection u internal revenue and the
security oftbc people against the evils OF enormous
unredeemabe paper circulation 10 time Of peace and
prosperity fede,rl government wsuld have
tempted 10 establish anything ike Bank Of America.
II could not safely have arosssd the opposi-
ton OF the private Snd joint stock banking interest,
that pronted largely by tho privilege Of issuing their
notes. The old United States BANK destroyed In
the presidency Of General Jackson because had be-
come political power, and was charged with using its
influence for party purposes. Every American institu-
on 10 drawn into the vortex Of politics. and tue princi
pic bark ornected with the central government
always been denounced 40 nsdous and dangerous But
by the want Of paper currency that would he taken In
every State Of the Union at It's nominal value the Anne
ricans have suffered severely The different states were
their bank notes many foreign nations each
usng the paper Of the others, except at continually
ryng rates Of discount. frequently there greater
loss paper taken or sent from m Easters 10
western State than English bank converted
into Austrian money In Vienna Only adopts and reRu.
lar money changers could tell whether was current
not the paper Of broken suspended banks remaining
es y III
every kind. Ito import duties taken only IN gold
and inland revenue had none The nrst appearance Of
department for collecting that kind Of taxation Ia the
present bill proposed by Mr. Chase But the dcues of
The government have compelled 70 Issue paper that
pass CuTrent N any puIt " through
the evils Of the people will At least gain that deye-
rance from the previous confusion Of their currency
which 10 Europeans appeared barbarism II the social
sweeps away the wld cat" and bogusn banks az
the Union IL will have left some small compensation for
the wreck OF better things The best part Of Mr. Chases
plan the suggestion that will probably the least
attention.
The Future Movements OF the AInbn m n
Much speculation continues 20 exist In England res
gardng the future movements Of this steamer 1--WE arc
enabled to state the best authority says tho Liver
pool Journal n Commerce Jan. o. that Captain rcmmes
Intends to sai Immediately for the East Indies Ibis
contemplated change IL cruising ground on the rar OF
the Alabama has been for time by the init.
ated and 10 only carrying out captain semos original
programme"
THE TrsCARoRA At MADEIRA.
xDIroR LONDON riNE
IN your paper OF the Sd inst. reference Ia made 10
reports which have resched England from Madeira OF
insults offered to the British Gag by an American sbip 10
Portuguese waters.
Having JUS, returned from Madeira perhaps NAV be
permitted to correct slight uaccraGy ii these reports
u not, stated by tho ian JacDlo by the Tus
carura, that those ogercos Commttc Since tho
chas Ok The Thistle, VI which al account has already