, 1865-03-13
FINANCIAL AND COMMERCIAL,


The great question Of finance at present seems
to be, What is the safest and best mode ofa1rt7-
ing ata epecie basisf In other words, what Is the
wfseet coursc to pursuc In order to appreciate tho
value Of onr currencyf And It Ia pe7h,ps ono Of
the most cheering Indications Of the times that
this question Of resuming, ut no distant day, specie
payments, is being discussed. Six months ago
ito journalist had yenturcd to inttmnte that such
consummation wts to be hoped for within sew
eral years he would have been laughed ut By every
Spectator In New York and Boston Is dresmy
theorfst; but now there is not a prominent mek.
chnnt In the entire country but Is doing business
with view to tho resumption OF specie basls.
They sFe acting With extreme ca1tlon-huytng
eniy sufficient to keep their trade alive, aud will
Ing to sell to good customers on long creaits sat
fsf1ed that henceiorth our currency Will Improve,
Bankers, too, are keeping the Same Idea in view
and arc fo.iifyfng Notwithstanding loans,
&C., to provide for tho time when stringent
money market my create panic, and they Dire
called On to meet their obligations without notice
OF Warning. Greenbacks are now on the advance,
and the people are boarding them as they did
gold-some for profit and others for secorfty. On
the other hand, The hoasders Of gold. who, but
short Tina snce, expected to sell at about 800, are
now ausons to realize at190, and just as gold goes
lover the sellers will become more plenty, az Is
the case with every other marketable commodity.
sti!l there Is quite diversity Of opinion ~ to
the best mode Of arriving at specie basis. With
Sa&ns w 1ntto ..r o~-1c -. 49, - ha1sa-.
Cause VI 4e usa't-Ua' - - ~.
~ nssens - 49, 49, ~ ~ .no.na- wa
tuefeiot VIZ o.s.s o 80 = 1at,a..shats : .1o..
m.s, e"o- t. rnors f,t., n tbc m,
inses!ne 'efo. 80 90 H.. h,s !, srb,
uIIl 'aa1. =. stso,.s f,r IT. IL bavona INV
w. =. A' H. tsr,derstnIn, we csn neither
a.s.a-. -. .n,,;nc mr. rontro1 Ita fnrv yye can
.s+eh ,,,e c1on1v e,v AMI trv ff no..ib,e TO
nritfv onrsclvcs To vrrt IL. ravaecs, It will no
as.,ht -ean1t dfenstronslv to rnany. but It will
sss esnSs .hS nom1,crri.1 world Of he unhealthy
P .. .ahs,h 1nrg b,a, nround 1ts chaA,bers and
| a",. sap.7 "N''~'>
t -,,,,rs ~ tba c}rcn,,t3nr
a,ss ~ 80 noss,hic II thc fayorito mode Of
sta,n a. snceie noTrncnts: aud 10 tbIs end Con.
.ass 1,es Toa.ed inv taxinr all State hanks ant
efa~,stsncc.-so inst hy tho list; Of January next,
onr entire currency viii consis. Of National Bank
-ccIee aud upreenbacts." True, With theso wc
LII pt,1i haVe tco mnch currency for healthy
trade. hut the appointment OF Mr.. McCu1soch to
the Office Of Secretary Of the Treasury, has led us
to hape that before long he will be in posi-
tion to be able to retire gradually large
portion Of the Treasury Notes aaoat. This
altained. reasorable amount Of success In the
field, Will improve The credit Of the governments
and thus enhance the value Of its paper. To on'
mind, this seems the sasest md most natural mode
or arriving sta specie basis 1t may tend for
time to check trade and commerce, bnt this will
only be Temporary, and where we have had sc
much oyer-trading and speculation, such checl
viii se IN the end salntaEY.
wenouce, however, TINT come OF our eastern
commercial contemporaries are advocating rather
the passage Of an act by Congress repealing tht
t1.-,t r.,viov Arf They R.GTu TO fear that con