The New York herald., 1865-02-22


Y:sS S aisss SIS ."..... 1854
1880 r. NJ .1s7k AIS r. n. .lesk
1:3O T. NJ ......... 1881 ~
The short interest Is large while the real holders Of
specie show disposition 10 SELL and consequently the
market has already recovered part Of the decline since
terday The why the decline has not been greater
upon the Of the victorious march Of Sher
mans army that the which have occurred were
very great extent, discounted in advance Even II
declared to gold would still maintain
price nearer 200 than 1907 for It's value
being estimated in relation to the currency the premium
dependent upon the government credit which, in It's
turn matter Of COURSE is dependent upon the con-
dton Of the national hnances Moreover, the capture
of the seaboad cities does not determine the duration Of
the war; great uncertainty exists in the public mind
to the future Of the national debt and this constitutes
moral element in support Of the gold premium.
would be for the good Of the people facts warranted
speaking differently; but there is not only
but there would be positive evil in disappearing proba
bilities and giving specous cooring TO unpaatable
truths By mistaken and reckless financial policy
have involved ourselves in such monetary embarrass
mens and encumbered ourselves heavily with perma-
nent debt that shall be compelled 10 suffer
the penalty in the future. We have pointed
out the way by which might gradually re-
turn to specie basis, and SO check the cur
rency imitation and reduce the expenditures OF the
government but suggestions have expected,
been unheedcd at Washington, the administration being
evidently opposed to any Improvement upon the policy
of Mr.. Chase
But, Notwithstanding to colloquial language sthis
is great country and its rccuperative powers
have been practically demonstrated in
marked manner than before since this
began We not only able to bear
much heavier taxation but if necessary and provided
N tha aloffh
existing debt The assessed valuation OF the real estate
personal property OF the United States according
of 1890 s18 159 GIG 06s; but without
terng into details stating the proportion belonging to
the loyal States will say that tax of ten per cent
the entire property Of the country would yield suf
ncicnt to pay more than the national debt We will
roughly state the following propssitions:-
FirG-That the whole Of the funded debt shall be
paid or at par.
Sepnd-That in order TO do this general assessment
OF per shall be levied upon all the private prop
erty and capital OF the United States.
Third-That a similar tax shall be levied on all in
comes, those under six hundred dollars per annum
eepted
FolutA.-That in making the assessment properly 10
tho value OF hundred ty dollars shall be left
free in estimating the property Of each person assessed
and that this amount shall be exempt where the value
not In excess OF ii.
Fy-That in assessing the property OF persons their
debts shall be deducted theresronA
Siyth-That persons not entitled TO dispose Of their
property shalt be entitled by law sell SUFFICIENT
of the pay the assessment and that the
thorty OF this shall convey to the purchasers of such
property good and valid title.
SerenM-That the payment Of the assessment shall be
made within two years and half and that the whole
amount shall be payable in ten successive quarters at
tho rate OF one per cent per quarter
Eighh.-That dcfaulters shall be proceeded against
according to the Internal Revenue law and that interest
shall from the date of the falling due,
the rate OF per per till they paid
Ninh.-That the Secretary Of the Treasury shall be
authorized TO pay of par the funded debt, selecting
such descriptions Of stock shall be judged preferable
with due regard to existing engagements and the public
welfare; that he shall be empowered TO effect the
said payment in the successive quarters in
pondng the OF the in each
quarter.
Tnh-That should any deficiency arise consequence
of the whole any nsalment not being paid up
when due the Secretary OF tho Treasury shall be
authorized provide for such deficiency by the issue Of
certificates OF Indebtedness and in like should
any surplus arise the be carried the
of the next quarter and SO on to the end
ELvenh. THAT committee, composed Of able and
practical men, be appointed arrange the details Of the
plnn and make provision for carrying 1t into effect
In throwing out this suggestion do not, OF course,
advocate il desirable possible now, but
hereafter with peace restored Union it would pre-
way Of removing the incubus OF vast national
debt under which the people Of this country would be
very unwilling long continue after the excitement OF
the struggle which involved had passed away Mean
while must depend upon heavy and equally dstri.
buted taxation diminish It's increase far possible
Tho foreign exchange market has shown fea-
ture to-day. It continues weak, and bankers bills at
sixty days quoted al 107,s and al short sight at
1oskax.
Money is abundant at six per cent call; but com.
ercial paper other than Of the best quality, Is in
favor The latter passes at seven q ten per cent
The loan bill is made the special order for Thurs.
day Mr. Stevens has proposed . substitute providing
for eight per interest in currency only. which we
recommend preferable to the other The gold bearing
debt s already needlessly large, and ought not
economical grounds, 10 be further augmented
The subscriptions TO the seven.thirty loan through
Jay Cookies agents in this city we're
First National Bank. 5000 go
KS. hcm 19c 0o
Robinson Ogden .......................... 500 900
To morrow will be observed a cioee holiday on the
Stock Exchange and in the gold room, aiso at the
open board, the Petroleum Board and the Produce
Exchange In honor of the birthday OF Washington Ar
II will not be legal holiday, however the banks and
othsr places Of business with the exceptions named
will be open usual
Tho aggregate value Of the exports exclusive Of specie
the por, Of New York. FOR the week ending Fcbruar,
81, was t6 1e3, ,s65.
Tho business Of the Sub. Treasury to-day was -
follows
Receipts Tor customs. ms..............s..... y5d2 Oo'
Total receipts 20l157
Payments 2S4I04
Balance. 25, 2e0 So
Subscriptions TO government loan ....... 429, ,O0t
stock Exchange.
TugspAY Feb. 21-1030 A. M
$1,000 u 3 6's 1867 1901 200 shsCumbCprf $40 e3h
10000 uss's, issi,reg III 100 do.... 500 e2