The New York herald., 1864-01-12
not large. The folIowinr we're the quotations:-

asked.
When Secretary Chase promised the people,
through his annual report to Congress, that the
greenback currency would soon approximate to
the recognized value of coin, and that resump-
tion of specie payments would speedily be brought
about, there were. many whose credulty prompted
them to put faith in the statement, knowing that
it was in the power of Mr.. Chase to redeem his
promise, and that the country would be benefited
by the act. But what evidence has he since shown
that the declaration was anything more than mere
buncombe The interests of the community and
the nations integrity demand an immediate return
70 the specie basis and we are satisfied that it
can be accomplished in six months if the Secre-
tary will consent to give up his chase for the
Presidency, withdraw his sympathy from gov
eminent contractors and Wall street stockholders
and appropriate his attention to the business.
Some financial difficulty, superinduced by little
sIingency in monetary affairs, might follow the
movement, which would pinch spectators in fancy
stocks and reduce the profits of government agents
and contractors; but the great body of the people
would be benefited. The final settlement must
come sooner or later, and there can be no more
opportune moment than the present for Mr.. Chase
30 begin the business. There never will be time
basis more easily and with less disastrous effects
than the very day the Secretary made the an
nouncement Of his intention to commence the
work; but if be procrastinates and permits the cur
rency to be further inflated before year will elapse
the story Of the French assgnats will be repeated
over his legal tenders, and national paper is
sues win 60 where Secretary Memminger says the
rebel finances have gone-to the dogs. We want
NO half way work about il, such as has been re.
commended by caucus of copperhead members
Of Congress in Washington. The people would
not be satisfied with the act Of merely paying our
soldiers and sailors in god they desire to see the
greenbacks approximate to the value Of coin''
and provisions made for their redemption. When
that 10 done confidence will be restored, and the
soldiers and sailors will receive the full amount Of
pay which the government guaranteed to them
when they entered the service, and not sooner.
The attempt to disguise the fact that there is
stringency in the money market, and that strong
apprehensions are entertained that the tightness
is more likely TO increase than to diminish, fails to
deceive those who in position to be affected.
We have the best evidence for stating that capital
has ceased to seek customers and that loans can
only be obtained on good paper by the payment
OF small commissions and the legal rate of interest
The stringency is not confined to this city, but,
We showed day or two since, is spreading over
the West, and in the Eastern States borrowers are
beginning TO meet with difficulty in procuring
loans.
The Chicago papers Of the sth inst. say the de-
mand for money in that city for legitimate bust.
ness is far above the supply, and on many houses
The pressure has become quite severe.
The Assistant Treasurer reports the transac.
lions ofte-day as follows
Receipts. .-$a 4ZI ,633
Payments 31O4, 600
BASasce e...-..-..,, .5s bI0,o5o
Included in the receipts is s2l3 900 for customs.
The Assistant Treasurer to-day received another
instalment Of the five per cent interest bearing
legal tender Treasury notes, which he will de-
liver to the banks. There is now only about
81, 900 900 due of the $35 900 600 loan, which will
probably be paid tomorrow.
The following was the amount Of subscriptions
made TO the government loan
'wetwenties (drect). S366, 700
eposiied by agents. ,35l,0o7
losai ,1lS, 16I
- mporAry loan le450
We continue table Of the totals Of the various