The New York herald., 1864-05-16
FINANCIAL AND COMMERCIAL.

oUNpAt, nay 10, leo9
The last OF the rebel President 20 the rebel
Congress contains among all it's gasconsde and vsrbage
oue feature in relation nuancs worthy
siderstion, and which ought atacs attention OF
the currency tinkers In Washington Hs says - is
believed 10 be Of primary importance that no further
issue Of Treasury notes should take place becsuse any
addition 20 the volume OF would DO attended
with disastrous effects and would produce the speedy
OF the evils from which the funding law has
rescued tho country" The adventurous chieftain mas
the bitter fruits which enlarged issue OF paper
prom produced in the rebel conederacy and the OK
per,ence OF . mistaken and reckless financial policy
prompts him 10 warn his coaborers In the Cause
Of rebellion not 10 permit themselves again TO drift
In the same direction. Again he ssys-"Nothing would
% much rsard the influence OF peace on all the
interests OF our country the existence OF great
OF currency not redeemsble in CON-" These words apply
With more force TO North than to the sections over
which tia, presumptuous Official holds such feeble con
trol and temporary command. The sentiment. although
coming from 30 bad q source, viii nevertheless nnd
place in the mind Of every individual who has nos
devoted HIMSELF body and soul to she Moock Of specula
tos who regaros the welfare and financial faith Of his
country Of paramount importance TO horse contracts
supply agencies To tho South, however much the de.
ludsd people Of that quarter Of the Union may i'm.
agns they VIII b. benefited BY financial other
laws which may be enacted at Richmond, IL can be q
very little importance what s done what extent
tAs miserable trash which they use money b IL
creased. because We at the North more fully
corvinoed than that few months hence-aad Il
may be only weeks-wl nnd Il, be the volume large
small, os more value than tho paper mhsr would
pacs upon for the purpose Of rsmanufacture with
u different We shall continue national existence,
and the closer bring currency 70 the specie
bass the greater win bs rejoicing on tho recurrence
peace But after that coveted event 70 have
before prospect being annoyed and distressed
for another period Of three four years with kre
aeemable Treasury notes and bank Issues, 70 say
aoshing OF the dirty faced fractional currency,
half tho joy which would otherwise bs experienced when
Il 10 announced that the clash or has ceased would
% buried beneath . thousand millions Of rredeemab!e
legal tender Treasury notes. national bank issues and
"wild cat" currency.
Tho passage OF the Tax bill by Congress- II the Senate
does nos spoil IT, viii give good start In the right di
rectioD and II Secretary Chase will be te ast in the
policy which announced recent letter o member
OF the House Of Representatives, Of diminshng the
United states notes In circulation and.gradually with
drawing from currency the interest bearing legal
tenders he will retire TO private le about nine months
hence with the consciousness carrying that
single determination he atoned for the perperaton Of
great many financial bunders.
me following the quotations Of stocks ~ she oes
Of mast i've voeks-