, 1864-05-29

ofsuppl,cs to the rebels. The next dele nsiYe
line If The rchcls is the South Aaua
nrd PAINFULLY; but the, flank movement
OF General Grant appears to have girca
him tic control of the Fredericksburg and
RicL1Aond railroad, the rebels being several
miles to. the westward Of 1t. Tnis must
prove greIt loss und u source ot much cm-
bn!Iassment to Lee, md i'll aid Gen. Grant
very materially IN his future operations lie
may now nut that road in running order 10
Fredericksburg, or Ecltc any other base on
the Rappahapnock {say Port Eoyal, or Ur-
bana>, below Frsdcsickebur2:, which he may
Is locked for with great Interest, as at uu
moment ent'thcr desperate and bloody battle
may take place between the eontcntilng ar
ICics. II must TT remembered Ao seve-,
that US Lee approaches Richmond with Ills
army comparatively Intact, he can nlass his
troops more effectively, by drawing those un-
bis Support, f''r the purpose Of striking q
1,eayy blow, rad tlen returning item to taeir
former positions
In tie meantime, the hundred day troops
ale coming forward here III largH numbers
They are generally placed in the 1orttAcatious
'round tic city, thus relieving n large force
Of veteran troops, who nrc Immediately dis
pitched to ,he 'front.'. So that the process OF
concentration goes forward steadily and il
Lee can move, go can Grant, and it is easily
seen tLat the resources Of tic latter are far
more ample than those Of the former. II
Gen Butler las been repulsed, he neverthe-
lees K. cps large rebel force. .tu1ly employee
In defending the south side of Richmond.
WHAT THE REBEL PRISONERS sAr.
The rebel prisoners taken In the last battles
Say that those battles were the taost severe
Of the war; that our troops never b.ioro
fought eu we'll, marching up to the rebel en-.
trenchmeute without initerine. They think
Lee very great general, but that lie bus met
Ills match III Gen. Grant They add that this
campaign will close tho war: for they SAY
that If Grant Is defeated we will give it up.
and that If Lee Is defeated they viii give It
nr. When they arc told that If we ire de-
they el,nle their heads lucrc1uloasly.
TIE NATIONAL rAsk ACT.
Tic Honse is engaged in considering the
Nu,ionsl Bank act amendmcnis made by the
Senate. TIE Senate has changed the iudiyfd-
ual liability clause Of the House, In relation
to banks having d capital of tlvc millions,
and surplus Of taenty per cent on hund, to
liability for the amount Invested in the shares
only, and the House concurred. The House
limited the entire amount Of notes for circa.
!at'on to three hundred millions Of doll1rs.
The Senate amended bY adding: cor the
amount of capital stock Of the association
organized under this act, shall not exceed
tlia amouut.'' The uousc refused to concur,
The Senate also amended a section SO TINT nu
Of U. S. bonds may bo made IN.
der thu sunrrvis1on of the Secretary
Of the Treasury-concurred in The House
had fixed the rntc of inturrst at ! per cent.
The scIatc amended, making the rate the
sane as In States and Territories where hanks
are looted; and where no rate Is fixed, it
shall be Z pcf cent This was concurred In:
Wherturon Mr+ Stevens said the most impor-
tant part Of The bill was stricken ont. and
moved to lay the bill on the table. Lost:
a,cs s., nays a. Tue Senate also amended
the taSat!on clause, but the amendment was
not concuETel In. The amendments to which
the House disagreed will be sent back to the
Senate.
FORGERY OF OFFICIAL DOCUMENTS.
Mr. Arnold has introduced resolution.
shat the judiciary Committee inquire into the
cxpedIcacy Ut reporting hill Tor the pun-
ishmcnt OF forgery OF official documents.
There Is now No existing United States stat
ute for the punishment of such cases Of
forgery MS that OF the use Of the numcs Of the
President and Secretary Of State in tho case
OF tie late hogus rr,claulatiou. Still the
bly, greater than those cansed By the ordinary
forgery Of persons signature by which
money Is feloIfously obtained.
How sT.TE BANKS GLurTHE MONEY MARKET.
Tho State binks not only s!ut the money
market bs tLclr circulation. bnt also by thcir
deposits. They bank on tho Inter, almost
altogether, in ma,y cases, aud this
produces great appreciation IN stocks and
other secr:i'ics. They also use the U. s. cur
yer. They make 1t tl,eir inactive while they
use their own bills as their nctive capital
This is one great reason why lher look upon
q man who asks them for u. S. currencf "a
they formerly did on man who asked for
gold and silver. They consider him an enc
my. Take Il e New York Banks in June, 1861;
the deposits Of these banks throughout The
State were $lce, ,3l5, ,0aaa.
In June, 1863 they were. .Sf53. .4a al
ln june. 1863. they were -. ........ ais,117,;S
And In March, 1:6l tthe last retu1ne)
toey were ...-..............-. -. 90. CO, ,sa6
The next June returns will probably show
not less Than SSll ,ooo, 600 Of deposits IN the
the total inactive assets of these banks Is
only little orcs ffty.tiye millions while the
leans Of the city Of New York are nearly
IO,c00, GOO; showing that these banks do
an active business upon their deposits, to an
a,n< aas noa,7v e7uol to Ue trfal II kle x4.,,e!.
Confne the circulation to the United States
and the 'Eotcs Of tho National Banks. aud
this extraordinary glut Of money, which Is
deprcciating the currency, costing the Gov.
eTntneIt tens OF millions Of additional means
TO carry on the war. and raising th: value or
every product Of industry to an alarmip.
height, will be greatly checked.
An AFFECTING SCENE.
Yesterday as the severely woandcd
were being transferred from the steam
ets to the different ambulsnccs, u
a lady from Michigan WIS observed lopktnc
arxio 7sly around 10 ascertain If either OF her
eobe were among .he number Presently she
recognized one OF Eesaone among the throug.
lie wns seated on coffin, and hia arm -ap-
pCa1ct to be shot off just above the wrist.
+" Where Is Charles ?" said the anxious parent.
while her countenance expressed the agony
Of Intense suspense and ner voice could only
find a choked utterance .sIn this mother"
said the wounded man, poIntingto the coffin
on which be eat~ The scene was heart-rcnd.
Ing The lady has also another brave boy in
tie army:
PRESIDENTIAL ISTRIGUEs,
The 1adieal, or dlsosganixlng, efIoz1 to con-
tEol the Baltimore Convention adversely to
Mr.. lincoln still continues. It has resolved
iseclf into ! QUESTION OF persons not pFinci.
pies, and regret to see that some men, It
appears to me, would rather see the country
destroyc ed than their favor1te candidate de-
feated. The rule OF ruin policy Is that which
they src pursuing, TO the peril OF not ooiv
the party Of the Union. but the vcry Union.
itself The pro slavery organs are doing Ill
they possibly can TO aid these farat,cai fel-
men of the country.
Con. Sfcele'a Disastrous Campaign.
Correspondence OF the Chicago Tsibmc.l
L1711a Rock, May -, 1854.
Gen. Steele has returned to this city with a
dcmoratizcd army. The campaign culu,I-
pptgd in disaster The retreat from Camden