, 1864-01-20
FROM WASHINGTON.
WARRINGTON, Jan. IS, 1861

WAsHrgaToN, Jan. Is, 1853.
TAX TIE STATE HANKs-sosE OF F11K DEFEUTs
OF TEE NATIONAL SYSTEM. :.
In my letter Of yesterday I stated that many
gentlemen of dnancail ekill and ability are OF
the opinion that the Secretary Of the Treasn-
FJ's plan Of borrowing money on bonds Is no
better than Issuing treasury circulating notos
direct, If as good, cs the Secretary has to
pay large rate Of interest In the case Of the
Eonoe, nnd none in the case Of the treasury
notes; and the imitation la about the same,
as these bonds sre used as j basis for the is
sues OF tile National Banks. But this inha-
tuy non may possibly be obviated bF taxing the
heterogeneous mass ofState bank issues out OF
existence, and after Congress has made the
necessary appropriations let them immediate
" set nbont doing this, or the consequences
70 the financial interests of the country will
DC very bad indeed. In this connection I
might reiterate what1 before stated with re-
EaId to the National Bank system, and that
satutions object to merge their individual
chaE1cter Oil may uee the term) in these banks
which, really though cacI dependant upon
lts financial capital and ability, are uominally
all on the same footing These old establish
ed banks, like that of Commerce, Chemical
throw away the good names which ycars Of
prudent management have established, and
take numbers instead. It is like the current
:sy stem Of State Jurors, which merges the
men IN the mere machines, dressed alike, md
only distinguished by numbers. There is a
good deal In this objection. It is also ques-
mere speculators and borrowers of capital
have become the stockholders and proprie-
tors Of these banks, Then again, one great
advantage Of the treasury note system over
these banks is that It obyiates the necessity
of redemption center or centers. notice
already that the New York banks do not like
to tako the money Of thoee Of the West, I
only throw ont these suggestions to call ut
tention to what are considered somo of the
defects Of tlis new system.
The great advantage Of the National Bank
system is the opportunity 1t gives hfr. Chase
to retire his circulating treasury notes, and
substitute these National Bank notes for
them, and thus in time enable him to eradu-
ally resume specie payments.
the CoPPERHEADs And THE oAa1rA1as-m'A
QuANDART.
The Copperhead members of the House and
Senate meet almost nightly, and hold long
and anxious consultations over the prospect
OF the coming campaign. They are In atan-
dary., They want to find ont 'thow to do it;''
know TINT they must seem to go for the, iH, waT. way
IN order to succeed; mud tho question with
them is how to go for it, Without actually 60
ing for it. The military candidate game Is TO
be played. Mcclellan is the fayorito with
nearly all, except the Illinois men Of these,
Col Bill Morrison and Jim Robinson are out
party must back down from its peace priuci-
plies almost in toto. In fact, they go in for
strooEttng low cnorg1' to win. aud iu order
to win they are willing to take any man or
any platform which will bring them back into
power; The rcmninder Of the Illinois men
arc not 50 decided for Grant; still they all
lean in that direction. Fernando Wood OBJ
jects to Mcclellan. As to Grnnt, its oil folly
TO talk of him, of man who goes for the
Proclamation, arminr Of negroes, &c. So
that the caucus is divided on the vital point
Of the principles Of the party. The lata de-
feat IN lllinoie, overwhelming Us it was, has
struck terror into the members from the
fghl with the certainty of anothur sucl. over.
whelnling rous staring them in the facc.
INDIAN TREATIES AND ALLEGED FAvonI71sM.
A telegrapLic dispatch to the western Dress
generally, few days since, alleged that there
was some fayoritism exercised in tho carry-
Ing out Of tho treaties and sales Of land under
treaties with the Indians in the Interior De-
partment. have inquired into this matter
IN the proper quarter, and can state that there
Is no truth IN the statement, which though
quite general and indefinite may have been
thought to reflect upon Mr.. Dole, Indian
Cor missioner, Or even the SecretaTy Of the
Interior. As to Ar. Dole, lie is IN old and
well known citizen Of Illinois, aud can as
sure all his numerous friends at home that
his transactions Will bear the strictest official
scrutiny.
WIT THE KENTUCKY MEMBERS VOTED FOR
CpLFiX.
It is stated that the Union members of
Congress from Kentucky were flooded with
letters from Union men Of that State begging
Of them to vote for Colhax for Speaker, and
generally adding TINT they were willing to lot
slnyery go rather thau that the rebellion
should not be put down. I was shown faw
such letters to-day.
ILLINOIS AND MICHIGAN CANAL OFFICE.
The intention Of the friends Of the Illinois
Ind Michigan Canal enlargement In this city
% open an office for meetings, compilations,
maps, books, &C., Is taken In high dudscon
y it's opponents here, who call 1t a t'ffee md
:asy," where Members Of Congress are to be
to oysters, champagne, &c. This |
8 all bosh. There is not the remotest inten-
Ion Of any such mode of pushing this useful !
md Important enterprise. =
MEMORIAL. OF ASSISTANT ASSESSORS FOR IN
CREASE oF FAY.
Mr.. Moorhead, Of PENNSYLVANIA. has pre-
ented a memorial in the House. On the part |
II the Assistant Assessors Of the United |
!tatcs, for an increase Of pay. In the cities /
hese officers perform 1argc amount of |
work, and arc ont doors in MI wcathcrs In \
he rural districts they arc compelled to keep |
horse and buggy. Their compensation Il |
mt sS per day at present, Hon. Joseph L. |
.ewis, the Commissioner, has, in his report, |
nlled the attention Of Congress to this sub +
ect.