The daily register. [volume] (Wheeling, W. Va.) 1863-1864, 1863-12-28

bad fortune, Others lamsnting Heenan's lack
of endurance, andall bewailing victory
gained over an American "Boy" by John
Bull
The New National Banking
- Law.
The Hon. Hugh McCollocb, who is at the
head of the new Banking Department at
Washing gton, has made his first annual re-
port. The New York Journal Of Commerce
gives the following as its main points:
There have been organized, under the
law, l34 banks, of which G6, with capital
of 81, 7,1s4,7l5, are noticed in the Comp
troller's report. This officer suggests a
great number of amendments to the law,
most of which are designed to consolidate
the system, induce the organization OF new
banks. and give the Treasury Department
more complete control of them. he recon
mends that section Al, which limits the
amount of money to be loaned to any per-
son or firm to one third of the banks capi-
tai, be stricken out, leaving the bank to
loan ali its money to one individual If the
directors 50 desire He. would allow one
third of the bank directors to be non-resl-
dents of the State where the bank is ioca-
ted He desires the failure OF national
bank to be p,ima facie evidence of fraud,
throwing the proof of honest dealing upon
the managers. He urges the striking out OF
section 81, requiring an additional security
for circulation when the United States
Bonds fall below 80 cents at the New York
Stock Exchange. He suggests that no
bank should be allowed to commence busi-
less with less than 1000 capital paid in.
|, The Comptroller further recommends
that all these banks throughout the coun-
try be allowed to pay seven per cent. inter
est. He also urges that departure from
this rate shall only work forfeiture ofthe
interest taken, and not involve the princi-
pal. He makes another suggestion IN this
connection which may we'll attTac: atten-
ton. He recommends that power be lodged
by Congress in the hands of the Secretary
Of the Treasury. or commission to be
created for that purpose, to absove the ma
tional banks in al of our large cities from
the penalties VI he u3ury laws, and allow
them to charge whatever rate of interest
may be deemed best whenever it's desirable
to check speculation or discourage imports.
He suggests the repeal of section As,
which provides for semi.aunual reports, and
the adoption instead of clause requiring
the banks to carry one sixth of rher profits
to the surplus account, until it shall amount
to thirty per cent. of the capital. The sec
tions 62, SO and g., which allow the State
bands to participate in the new circulation,
be would repeal, thus compelling them to
wind up and reorganize under new systems
He recommends that the National banks
"be required to prevent their notes from be-
ing deprecated in the commercial cities of
the country" One objection to the law he
proposes to obviate. He states that 'if the
banks fail, and the bonds of the government
are depressed on the market, the notes of
the national banks must still be redeemed in
full at the Treasury of the United States" 1"
EARLY in November, it will be rsmem-
bered Mr.. CHARLES c. FULroS, proprietor
or the Baltimore Amsrican. addressed q
letter to his old personal friend, J. A, Co
wARDIN, proprietor Of the Richmond Dis
oatch, asking him to distribute among Mary
land Union soldiers in prison, two thousand
dollars in Virginia bank bills. Mr.. Co
wARDN took charge Of the matter sad, in
accordance with an order. changed the
Virginia money into Confederate notes, get.
ting two dollars aud three quarters in Con-
r in
were three hundred and seventy persons
among whom the money was to be distribu-
ted. and it was divided among them eq ua[
ly. Mr.. CowARDIN writes to Mr.. FULTON:
Il learn from the officers aud the surgeon
having charge Of the prisoners, that the
hitch in the exchange of prisoners has had
q most painful effect upon the Federal sol
diers confined here, having oecasioucd IN
the sick dependency that has fearfully
increased the mortality among them. This
is strikingly illustrated at Belle Isle, where
of sizty. fire deaths an fye months, only one
occurred in three At the end of those
three the exchange of prisoners was broken
, up, and the effect was disastrous to the
Federal prisoners here, and, suppose. also
to the Confederstes confined at the North.
Il taken occasion to say, sir, that have
mad some opportunity of observing the life
at the prisons, and that have not doubt
that the Federal prisoners here fare eqarl-
" as well as our own soldiers Ifboth
have not the fullest rations, they have the
best that the nature of the invasive var
now raging against the South admits Of
But. it is proper further to say, that the
quantity and puality OF this food Is such as
does not impair health. Our men look re
markably we'll, and SO do yours, who are
not sick aud sinking under the -pinng
aud despondeocy Of hopeless imprisop-
ment.
You have done me the homer, ny dear
sir to make me the almoner Of your bene
faction for reasons very conplitary TO my
self, and am sure yeu wrll receive these
-oda ~ .pd