New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-07-14

atoms al the coat Of the Government DO turned to the
service OF the Treasury. Mr.. Chases error was In 81
tempting 10 borrow money OF lees Than current rates IL
the Government will offer the people the rate To DO had
in omen market the money viii be forthcoming. Mr.
Cisco once paid Dor osn. per month, and rendered
the Government valuable service In the act. IL
xp. naIn an and saved the National credit
The policy Of the Treasury Department is much dis
ons.ed among financial and business men, and very
aarps.tv bv partiss trading borrowed capital who
ga no,b,no Int ruin ahead the Treasury dscontinues
tina manufacture Of paper money and depends upon loans
and taxes In the opinion OF large class OF bankers
the national finances cannot be restored to soundness
and the Treasury be successfully managed until the
money market In relieved nom the load OF temporary
debt made BY the Government In the form OF certificates
NJ indebtedness and ineYestbearng notes. One great
obstacle IL the one year certificates now seing az w.
eoua 20 IS cent per snnum interest In currency 70 he
buyer. and moro tempting than the proposed 1909 to
those who deal in Federal stocks at all.
long as these are paid out without limit and at such
large discount contractors viii DO shy Of the Govern
ment unless at rates. under which the Treas
ury must ably proceed TO utter disorder With this
class Of Scrip removed from the banks and insurance
companies, the future would be comparatively easy.
To get rid Of those there seems but one courses the
negotiation Of popular loan OF s2oOoOoooO OF long
goldbearins per cents making these certificates equal
to greenbacks in payment This step would OF course
deprecate for time the market value Of the Federal
bcuds but It would also be fatal spectators and force
prices down. and SO reduce the expenses Of the Govern
ment to degree which would give some value TO its
funded debt Returning to borrowing in place of man
ufscturing money means loss to oil who have bought
upon lie theory that tho manufacture Of
IN nplv a
some time is certain TO come, and as the
Treasury win probably soon be found in more embar
rassmeD than in July 1894 better time can be found
to adopt the right policy for The Government than this
letting those who have traded upon It's disasters make
their escape in their way. 1t rapidly comes to this
that the Government must make its credits buy more
or soon find itself where they becoumc amsost vueess
as compared with merchandise ard the whole financial
machinery Of the country be brought into the condition
OF things existing in the Rebel territory. The time has
come when people must sacrifices and learn that
tho rebellion is not simply opportunity for making an
imaginary paper fortune by exchanging commodities
for paper which has daily less value.
Freights-The engagements to Liverpool are
900 bush Wheat at ld 100 tuns Logwood at u.s. go
bales Hemp at l2s. Cd and per neutral 20 iuns Lard
at l5s To London. 10 tuns Sperm oil at 2Js. 400
bbls Flour at L. Cd 1000 bush. Wheat at 3d. and 20
tuns Lard at els Sd. To Rotterdam; 1000 bbs Flour
at Is 3D.. and 900 hhds Tobacco at 27s. Cd. Prus-
sian brig was chartered 10 Cork for orders with 1900
quarters Wheat at 4s Cd, and Dutch schooner with
400 bags Coffee to the port for orders at u.s.
The business Of the Sub-TreasuTy was: Re-
ceipts g., 09337I rotor Customs. l29.cl7 OIL Pay.
ments, ESQ.,. 7s9 90; Balance. IS 500 40 90.
BY reference TO the produce markets it Will
be seen that prices arc lower under close scrutiny Of
paper and a dear money market There is room for a
still further reduction and the is realized the
better the gamblers In produce and imported goods
are reduced to the quiet attitude long held by stock
specuators It win be OF great benefit to the community
and the Government.