, 1863-01-15
NATIONAL FINANCES.
Hon. n. ). walkers RcrIesr of Secrc-
tAry Chasc's F{.l4acia1 Plan.

| ~ 49, - l. " =. -. - = ~ .T@ ~ oeI1c
Jury ena'e'" fA''*acia1 1'1an'
The .zanuary number Of the lonsiueaial
| 7c,ur, con+o;re . x-o-r, ~, .aa.,,,,,,.:e,.
f..,, w.. 1 s,s- s-1rn 49, ."A's4'".'o' 49,
Au4i 'nc l'en u 5loa. Il. y; Walker, lats Sec
retary Of tire Treasury, entitled a"Reyicw Of
urFinanccsara Vi Secrctstychasc's E.pyrt.:'
| II =. so.rah;;,,-. ..s e,.,*e1,4s-.
| sn1ns ano s''"'.l.e 'Iac1eatloh
OF the so-callc@l bank plan Of Mr.. CHASE, md
is cnc Of TIC most uo,yerfu1 ur.i,,cs that ,vr
vet nroceedca tram thu nen ~ covor,a.
Walker. lie supports this plnn lis necessity,
| not ns choice, and ar.ues US prime reason
for p,v;nc H. his s,nc+,on ss+h,+ ~. .,-o,,o.a,
so.:s. 80, snsA ,,D..,: -. =. NV Piofoosu
eolnee''on o1 tAc oanss VIII 1ne government
is not political, mud is attended with none Of
the formidable objections to the late Bank of
49, r,.,;,as s..su m 49,. 49,. oaa - ~ ~
'Ae on1'eo o'ases' NJ tiAnAs taal II LUG
/ measure recommended By Secretary Ciaso
became law, ait would furnish a currency
specie more nearly than can hc accomn1i.1,,d
- p.ss ".. ...o ne4s 'l''a es'' W 'eeo"!l'''sheo
III any other way, and because, when tile war
is over, it provides the best means fora return
In the shor.est noss;h1c ner;od tn e,a,.fa ,,,r-
mania ~ I1o ;,a;o.. .,;., ~. -. ~ ~
n''u's nc a''s's's Ina1 ti's system Is oestef
than that OF new and more numerous issue
Of treasury notes, because if such issue
vere now onthor;xcd these rotes 1von,d
fnrthcr senrec;ata a,,d to" +hn motos meut4
lint danr1c;et;n+r' n,,r.non, ~. ea.sus ~
furcs. onI ncrbans ;nt;cf1n;tc1v ,,os.non" tho
rcsumption If snec;e nav1nenfs fm1 * aronas nns
that tie new bank niai, Il the serrctory h9
which a nnifnr1n cnrrnncv wnn,d ho sac',raj ~
would be incalcuiably hrneAcia1 tn tho hrsvn,
men in The nr1.v nnd narv hv ,,rcvcnt;ns o 3f,e
lepreciation Of 'the money II rl;ch fhaS2 ,ra
to be paid, and hence Ly rescuine them md
their families frum loss; and he distinrtIv |
says TINT any member Of Congress- yoting
for the policy Of .an incnnaaee5 naner cnE
rency outside Of the rccommeniat;ons NJ
AIr. Chase. would yote to- re;1ncs t,n nv ~
and pensions for our trans IN ann;b,it.tss mi
the allotments made nv t],cm for iha sT.''
port of their families. to reduce tic vuinc
russ The prosecution Of the war. nni1 to nrs.
pare the way for rcpudiatIon ind f1;smnfnn
If Congress shall sanction the Sccrefarr's
plan, then, says Governor Walker. 1.-THE new
banks will become fiscal agents Of tho CIV.
ernment; their circulation wonld h he lo unif,rm u
furnished by The GoyeFnment. and 1,asc;i ~
United Stntes stocks. the nrfncina1 nnil iufc.
rest Of which vould be payahlc II moid Tha
Interest Of labor and cuilital Of tie 6auks the
Government and the people, would for the the
sol;daIcI EvnrT s;t;Enn ,s,'athas ur.eu and con
LnI5er ~ 10 1,o,f.I ~. ~ "nosnGf etoch'
rcrt md ;rc.;,ni"t1o $780, Tou ~ ~: :A' ~
ard nrnsner;1v Gav VIII III ler u 1a, success
fhc r1a1nr,,3, ~ ~, 5;.nsaa ~ ~. ~ was
,,,e,t F1 ~ " ,nc o1force u tae Govern
raetnra re, a'4m IN 'he nanks. ne now pEoposes to
tes,. ri.o sl' u''un ~ 10 !sco1ilenasa ~ Seefe-
~ 1;ase, ~ ,ue srouno that just IS you
~ ~ insn aie panhs ana increase their capl-
rroaa, -. "nu p,olts @ yol Will 1nno morc aha more
s',S snna s.nn Ely luz conty from
ielns 4hat T. "1 ~ 'sana1 currency ne be
esssn ss a.s' & IL tne seefeIarys PIN - adopted,
~. ! leasury notes Wonld begin to be absorbed
-. V.'es, a4u 1tse ~ tAe1r hafact value The
s!oaes q ihe oanks TO oe feoIgal,lzrd on the
A. !aeof} hIe guaranteed not only "
the tte stsch u lug Hovesniaent nsett, pMt by
';s, eae "hoie rr.,pef's anu s.ock Of thc banks,
WIN prit1r Hcn on anls c1pIat ahd property
~ secn!e en1t ~ ul@lte 1ene'tptioh ana pres
-, caraa,a na.ue. 10y "nuia Ut reserved py the
ro,d VI neassstr ~, Ius uacePe castons, ara
md eouui cirensti1r cium sSano Tha nsa1ny
= noulu HLosiue y tMehlf-sear loan us tue
1asss ol t1e NJ" pahk-hotc circulation. he
sonla aeoaet one PER cent. 5emi,annual1y
,om 1nc .nte!esI o. these bonds US an
'inl7alent LOT the expense OF tile Government
furnishing the circulation, etc.: "all other
, ,air ,'ar xea,at1on a. saonio " taxed one and
@ ,r,n, pr. 1e. ssh!:annuay, secured by adc-
h"t 1r r. r;,1 ~. oes;,tena - TaM!Ser beNeyea
III n.. ~ mnn !ne ass!stance o. congress, this
yea j. carried out, SO as to give the people
ound currency, secure to tic Government
ast loans, at an annual interest Of only four
Ter CENT. Secretary Chase twill have ac-
omplislled financial miracle, and deserved
fame nearest to that of the tlrst and greatest .
# his predecessors, tic peerless Hamilton. !
IL next prccedes to argue, witt, much force.
that ali State ba,ik carrelcy il 44nconsiifu. {
ional," and under this head sccumulates a
mss Of authorities which cannot flil to in
crest tnancIers and statesmen, politicians. and
he people Mt large. The subiolped passare Is
once striking and new: :sThis rebellion
roycs the aWfnf danger of State violations Of
hc Federal Constitution. The rebellion is ?
he child Of State usurpation, Stats suprem- !
cy, State allegiance and Slate secession. And +
ow the Government is paralyzed tlnancially i
q It's efforts to suppress the rebellion by d !
uestion as to State. banks depreciatins the :
urrcncy, and State banks based On State
tocks." Regarding the city Of New York as =
c point from which the greatest opposjtIon
-{11N ,,,r, +bo sH1 oA