New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-09-02

Thomas J. DuraDt, whose imuacu'nte garments
Ike those of the Hebrew children, Lear no trace
Of odor. replied to the agents Of Gen. Butler,
who asked him TO tako the oath of Allegiance:
"What, shall swear to support o man who
robs me Of my slaves"
An order OF more or less Importance to the
banks Of this city, was issued to-day by Genera,
Banks. II requires them to exchange the legal
tender notes or the United States Treasury notes
at par for their own notes. To understand
the position of this matter, beve to relate that
for several months past the legal tenders OF
greenbacks have been at a discount Of from 10
per cent. below the notes of the Canal Bank
and the Citizens Bank Recently the difference
IN discount has extended to the notes Of other
banks, Fay the Lewis or State Bank, the Union
Iahk, aud the Mechanics and Traders' Bank.
All these banks have been retiring their crcula-
ton for the past twelve months. The premium
ON Canal Bank for legal tenders has, during the
past three weeks. increased to 10 and IL per
cent; Citizens to 8 and 10; State Bank 70 4
and 5, and the others to 3 and per cent. pre-
MUM. The banks are not answeiable for this
difference in the discount on tho greenbacks,
only 80 r as this The Citizens and Canal
Banks, up TO three months ago, would sell ster-
ling exchange at lower rates for their own notes
than they would for greenbacks. something like
allowing premium 70 retire their own circnla-
ton. r -.t. ..u rr
The causes Of the preference and premium for
city bank notes, arises from the fact that they
can be used in the purchase of cotton in the
Confederate States greenbacks being prohibl'
ted by statutes from being circulated, or re'
ceived in payment for any produce, or In the
way Of trade; though no one has been known
to refuse them, who could obtain them. Gold Is
being prohibited from being sent out OF the city.
Cotton traders have no other resource therefore
than to buy up the issues OF the banks oil the
city. What effect the order will baye remaus
to be seen, because, il party holding, green
backs desires notes OF either OF the banks, the
banks must mako the exchange or show good
reason for declining. II is hard case with the
bspks, as they are not in fault On the contrary
they have been anxious TO withdraw their
circulation. The Citizcns Bank has something
over one million of dollars outstanding, which
it is prepared to redeem in legal tenders Or
greeDbacks; the Canal Bank has about ) f00, 900,
which it has been endeayoring 10 redeem for two
years. :,
/ The State Bank has two millions and halt
dollars. II could not redeem its circulation in
three years, even with greenbacksj yet It's notes
have sold al five per cent. premium. The other
three banks circulation is mostly secured by
stocks worth about double the amount OF circu-
stion Two other banks have very little circu-
lation. They ara in liquidation BY military or
ders. The recent financial commission which
examined tho baIke valued the stock OF the
Citizens Bank at Sljl per share, and the others
ifom par down TO nothing. 1t will be observed
the two last lines are pretty sharp and sarcastic.
The banks, also, il forced TO increase their
circulation, VIII have to pay the heavy tax under
the Revenue Law. 1t is uncertain what meas
ures they will adopt; or whether they will not
al liqudate at once. They may arrange the
matter with tho authorities, by urging them to
restrict traders and brokers from buying and
dealing in bailk-notes which are current or COM
mand premium over grecnbacks PELICAN.