Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1864-06-26

2 LIS unders.oed that Mr. Chase. seeing Il
; rue bearing Of the various neesszisie. 81 th
! e1aHiTy, = ready 70 assume shs most eonssrv-
: tlE9 ana W1oiesona policy yxitk regard 10 n
elfrancy, ard be IS keiisvsa % heve sts4s
within very lev days, thai IN al his Cneratiou
} re has never lost sghsDf an ssrlv raEumutiol
OF specie paymauiBi and that, If Cea~rea
would only pass good loan 5:l a. i-,7rees,is,
aad sufficient tax 5iii aad tho su1aatTeept !
ne nsaoaai Bsuk BIZ. this Ts8umplsr alisH.
i deemed expedleats take place q ouea. and "
nave lain IN this assertiou; for with these Al,
t1e increased rsyeaue from the eusto1s. b
aight rsalizs from four to Eve hundred milio-,
per snHum- And the couRiFy could give {
easily, Tor L must not be forgotten fhst IS leas
seventeen hundred millions OF dollars hsve beer
paid cut 10 the people BY fhs Government thu,
fAr' most Of i trseeved in ths shape of profit on
manufactured and agricultural Broduets rssl;Es5
y ne producer and faeiors. Bat, as Congress
eonunues 70 debate, mont after month. on ub
lsc8 OF u-tar Tcrthiessness eom1nrsd with
these, we mast expect further delay, not oDiy
IN Legislation, but in the working Of the ma
enihefY which Is to briug this money in the
treasury.
Our expenditures must, therefore, eantiuue.
| Tor some months 70 come, 10 be IN sdya-,ce n
The reesipts. In v bat shape, the most coe-re.i-
ens, economical and satisfactory 70 the usoDla.
can 1ne treasury be supplied L 10 understood
AiSo' On good authority that it viii not f r
any mota advantageous loans 70 invsssors than
tns lU Az 8, which, a. the present Diics Of Ivold
AIe equal to per cent ss0ek, AMI which. AZ &
per esnts on the resumption Of specie payments
Val tnen bs equally satisfactory. l. has oe-
! CARED 70 Mr. Chass, a some time, IS vs. have
f-A7on to baiieve 70 Offsr = choice Of 10 AOIs
1 3 2O's, or 1881 bonds, with an abstsnsnt rum
tae market rass, which wnnld givs sIight A.
Vantage over Subscriptions at par, or purobaye
n Al ordinary market. Il might be that such
81 oifaT, al enc qus-fsr or ene-hslf or evan ore
per cent. osi0S Ehs tr7e price, Considering ths
~ 4U at par If continued opsn for thirty or
SKY days, would briog large Subscriptions.
- mas aiso seen an i1ea with the Sserstnrv.
iasL q legal tender, hesEing intsrss1 as SIX Der
cans. compounded every SIX mcnths, and nav
eois vita be whols interest rbFps vag-. -,
dats, o., IS We thinE, better, 30 so.s. psysbls
U ..Tf1l ,eEaaf. might answer The purpose.
we are not prepared % discuss issse views A.
Aiia tns. 0ut 1staarK That in orr iudyuns=Rt tbs
f5ie paiscY Of the G5garrusns IL nSt IL go.
any farther aecgr.ies Whieh oaa Be nssds nse n
= aeqI money! WHAT It vans is 10 gss back
aciA no peeele, either II taxes or l6aus. rsonav
eaoagh e laeas is daily expeoses, ls-senfny and
eAResdng By fas Tay as auch Of this eu--soev
as possible For 81 present thers ere t,Eo bar
nes putting oat papar--ths trszssry ead A.
state banks asd - lal.as especially ars issriur
more tltn thall sA<r1s ard, il cass Of s7v ssri-
eul d-LleaiEY iafra t141 sii5E coalf ever r.i,sn,
Anc ms s. oiis ot tns sTHzs Z fisziias Il, a.
Cdasa s7Tsy nt tiis a13nazs IsI fssns r-.3s
o. 1i2l sra rapidly s5sss5sd 81 tae 3 suss. a.
~ J1am naad3 basis ct sirelis1on, 80 that. IN,
iaas ~ 9 prerer amsndiaaaf 81 fhs aa-i,n.l
backing lay, sad IS fsss ss NJ Chase v9ul5
saa9Io by hrs leans the redundant eurrsacy.
Known "a gSeenbzcks, similar anousts would
be issaad By tas baRks or thaza vsrv seeu,ssjs.
a1d tns inhation would 90 On m a currency bv
90 means - satisfactory a. that o. she CoverR-
melt - that anssss rs Stasa banks ara ufsi-
Hveiy checked IS to the sm0uni Of their issuev
we ahsll never Zet rid Of this i. isiioB areart
ay general bankruptcy. Ths G9vernBlsnr
night pay It's interest regularly IN gold, aad vet
ils securities might sell ia erisls for Bny.hiae-
near ths, principal
So, too, Il the Government shsuld retire its /
oWn lagsl tenders, and pay cut the currency m /
tle National OF State banks instead Of iis evyn I
As long ss specie payments were Suspended. il !
W9u.d De guilty ct tins stuseR6ous foiiy of nav
iug i've OF SIX per cent. fer the uss Of bsak en- /
rsneg, not as good, nor as popular, nor - en- 4
rent as is own. Aad ihis is precisely VIA M !
Ch1ss declined 70 Do At the beginning, and /
~ th9 banks wanted him 70 do, spd /
w5uld hks blm 70 do now. So thas, Z
IN the opinion Of some of our deepest tiinlxars /
paper currency, II there Is to bs sn inhstiOu "a 4
large as ever, under any circumstances. Il is be-
tor and cheaper for ihs trsEsury, and viii bs 1
more satisfactory to the people, to issue ls0sI
tender currency TIL the Fsr Is over. than nav
siz per cent 30 the bEaks for tie uss Of tbaireu-
reney, which IS net legal tendsr And there Is
iOIcs Ia this visw OF the subjscs
Thst tsis imitation IS understood sad snsonr-
sged b. tBs local bank interest. cannot ba
doubted Yet u has bees ssgsTtsd BY soma of
their most capable managers, that they base net .
eoatri1u-ed 10 the presentation, sld are not re-
spoBsibls for it. The bszk supsriatepds4t f(pr
Van Dyke attempted TO make a ease fer iron
bat We imagine he did not suecssS. We have i
b 6sf1s rs st THIS moment a Communication, fror
s0e Of cur wsslthiest baaksTs-one lang At fhe I
nsad Of q prosperous inslitu i0u--a writer osi +!
finance, whose opinions were always authority
ana Rlthal profound philosophical thinker. /
who thus dlsposas of ihis part Of the subiset:
The bank returns Of this State, unsds m "a |
the liza OF March last, and which have iast
examined, shoEthat these Stste banks have IN |
creased thsir indebtedness to the pubic silce /
June l3,Solns monlhs,) upwards of eighty nil /
lions, and which inerssss mas bsen iuTssfal 3, |
follows:
Increase in loans and discounis.,... sls N s1s
lncpeasa ia cash iteRs. s.s.--........ 81 Az d51
Increase ia aon8 aad promissory notos... 751s43I
ssI 29s575
Bang increase OF iucrative favssfr1snss r,iriti
no EiH5 rnuH5ss = Is also cuseepsible ef proof
inas these banks have Increased ttsi.- -l.st ie +
The pu5lie from June %. 1861. 20 .Juge I3 (
1868 Sl45 O26 .425 Adj The above Ssf 293
2j5. and wa have . foisl incrsess OF bank d.ht {
N ne iass .5o years and nine routbs OF SIPS /
~ 6UO and ihis On capital Of Si0S 4gs 653 /
I ne banks aeU owe the public S5l6 III 1877. |
rnn k.f ~.