New-York tribune., 1866-12-04

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vi.H Itpr c.r...I uclufnIt..c .ui.a .at1t o-. ~,
ctg aa.i being . A. Is nal. i} he so,s l G i',-a,
d-uuc.l,l and tl.o' .spnceItain in s rgslils s r
bl,Itt dHclHltuE t.l prices advance as h, i t,s
a. tas uf-ii ue .a then speculation D'oo.' 81 M b. is
ir iT arc eniel.a 90 le cAI AIe,.e 9l W brr WIEN dirnu
lion a, u.nlut. . .uscQueuily OF exports tAele pr eu
,t m g,trt. .l riir tariffs are rcgrcd on account OIL
,.,, i,r9 -- ilwhich they. n their turn, give new
a ,si snppo while tle protection intended 20 De gwen
l., ,a 10 homo ial-y is IN great measure & dgCy'I @ % .1
l..-1urs iid Che Tloseuy o l4! i 1i S! " T tl ir
i.'t slr..i ion ar.sos what are the remedies
Wt t1trs dee.eH,e to Congress The Secretary suggests
u q ', n, ,omr ar die National Banks to redeem their
n,, e Atlantic c.es, or what would be better al sAs4e
S,af Ilac,r.ucn Of the currency to the amount re.
Tf la csre revision of Tie tariff. for the purpose Of
ht-upnug it ST. Job internal taxes-remoylhs tne 9pp
ss lcus nov nruscd upon certain Die-'s Ol t3 In1s3
aiI relieving altogether greatly relieving raw ml'eIu3
fun taxes tL the product Of labor moy De eAnanceo
I,al Ia the .ss.o OF bonds paysee In NOT over wen!
ycs iut barring interest at Ae IDe w MOI over W. W. t m
hh, tc x per ., bonds nov held in Europe, and TO meet
n, i,nni there ual and permanent Investment and
Ft.I. tn the rcta .it0tIUB Oi the southern states
nv, Tac utility Of compelling National Ban6s 20 redeem
trr IS ppl.rnt lcOcc Of Congress in the ESTABLISHMENT
National Balc system was To iurnish ine loS Nll1
adypt currency ct uniform value throughout the United
S.,, Ir solver of the notes Of The National banks Is se
Sn 10y post 'oAa. wan w, llhr ,Sc ~ c5rtr and
bui is il' Bank, .c scattered Throughout 'he Jn,.l any
MAJ 1. aces difficult of access redemption %,
thcr lnH ai ncr evt\e counters ~ Z ~. ~. oH., ,
IL D. ~ st the notes of an National Banks are rcceabc Tor
T., ,rer ~ u e tSe Ils which issued are unable to
Tc',m hcm butt 0 not De claimed that th notes OF bahAs
pri-cy yau be- the notes OF Banks IN The seaoomu
q , be urged a, 20 compel remote Banks thus 70 redeem
Nolo De hardship bat as very few welmanaseI D!nAln5
ins,u'as in tbe ied states iaA No. 4ey9 t 5 i
fond a,l trnl il imaginary, rather than real But u
sbruI be hardship would De necessary one and The
,tf. i iho Is . must bond the interests Of the people
isI Riihpu ru .eleml there VIII be- practically none
h,ssl no ieicr there Is always constant tendency
81 ii,l1 and e innate banking lhe frequent 9la g NJ NJ
fslua eii Is needed 20 kcp ne business o. lnS D"i
o. hc,y condition and thus invariably proves no ess az
Nsatsus 90 lc s.o Eoidcs tlai TO The pnphc A1s e
BiIss silll be complied To eaem ln n..yd e of n
iurIy of e via neither lend their influence IN II'W Oh
fcuru 20 sccc payments nor be prepared N 4I lne Wy" &
a. irluinaoI o question eft TO the Secretary all
a..a,F.clgcd courcltd metropolis Of the Union Tie
dsl'ipa of hai ,y e rdemilg point oI AN Na.oI-i
TIA bsi aold facilitate the asserting and returning oil
nocs iti practical and general IelSmpuon "Slu "S ~ 49,
N.ls. E fe u8less an Eanks shan be compelled 20
his n aih- Atate cities on The ground ihat would z
e ma, New YORK a. her expense But NewYork is already
g. aa,1cal aud co- rc emporium Of the Union Most Of
te interior Banks Ae ihe cl-ei oll.necs mn ~ ta ,
g. compelling au to Banks redeem at the metropolis OF
tro' congress Voc pc ! 9n! !t,lIs ~ s, m VII ie -.e
of lfle c1mues ala VIII pc those National Banks whose
nus ,Iys naioriy 70 keep their CHIEF balances
a. Nev I0k vh-.- flcy redeem there o not II eAcAaas
later tb, redemption by her nks would be made at their
Clsrs aua ip lciihce oat iuat OF local proc W3lt
HHH H ID U|Hf.I IE I'D o.
MN c.te~ Wl. Eew.Yolk Shall De a debtor cy Bostoa
ari p l 1ia ls notes of the Boston and PHILADELPHIA
Rk. wl t h5-, .ll not Go Ncu-York for payment What
j, rIulrd r a1 a.i,e regular ana ao,sA I'.s- i W 9
sri , sIcrilc.l sll milo interests should be dIcgaIdd
Wt d. SAID upon subject by the Acting Controller oi tie
qh, s;ooad fnsly suggested is curtaneni Of the cur
, ,ires OF che rotary upon the question Of relucion
o. tc crreuc5 have been 30 frequently expressed t1a Is
only -y consider whether The curtament should
T. ' The Hit" >-',s lotes or w. nV Z ~ ~, ny i-
Blss On tssa'.,Dt his opinions nave unoe gone no
lya'J baes 2 ~ 4siI. , W =, iTSaoN Of tfe Goyernmeut
o. an iA.''eaeo IT, t I1naIs Of The country their
c6usHuf0n5y Las been affirmed and they have become 50
in,c,n,n have been made in them that their destruction
womi uroyc coIsei ilences o. very serious ctdayte
without cm-uheer NJ stimulus they have given to enter.
pc 5 sai & .s 9Ss & % by the Artificial Prices Which
they have created GLd DE actual losses Whh ne oPe nave
p.lls and .ailC is too late 70 consider When ne Ma
Currency Act passed by Congress state Banks were
di,s ar invested ia them as capital In States by
iuslus legislation ard careful management they had anoded
local ccuaor sal factory ana safe In other oiales NleIe
no reliable security insufficient security, had been required
10 Che protection OF o public and Their management l el
conGl 10 ilcOml dishonest hands there hud been
srs failures and Lcayy losses had been sustained uy TIE
som amer .Le commencement Of the Rebellion Il became
supt,rnt that heavy National debt 70 be created the
}n-c and principal Of which could only be paid by general
system internal taxes involving necessity ior cIcuag
.um clpa iu value throughout the country aud sie or the
Go,.ueDt receive in payment Of dues IDS SUBJECT 9i
demanded ana received le earnest qua caIel vOAso
era1n the ngsed gentleman at the time the financial
mist'r OF he Gov eminent who caused % be prepared anu
submitted 20 Congress q bin provide national currency
src By pledge % United States bonds and to provide for
he circulation aIl redemption thereof which aer having
law on the 18th feny lst3 Prior 20 the passage Of this
ac issu by the vc lmor had been auhored and hIee
aru OF t0veum bad been put nlo circulation u 10
th'rc nothing r o acts authorizing heir issue OF ID ne
communications OF W secretary OF IN the disclssion ID CoL
m insu circulation l contrary the provisions n The law
co. their conversion Into bonds ana the arguments oi te od'O
rrs,.dd merely t1rI0ly and usiihabe only b! an eneI
gcy whoh was .osed nothing else could 20 aae4la,ey
uen c euaon aid take the place Of bank notes there
g''i reason To- suppose iSa lLe IoSsi ON Tolp sS si @
ni nor fo divert capital frum Blinking but rather u
cup. ali bankIE- Institutions issung notes as money 2
s, ihcIn beyond ay conceivable contingency by deposits
v te Jfe,.urer n he United Siaits; thus without tA'
49, of n National bans providing National cmreuc,
h, be, ss lr..ui danger from a local and unsecured
ci-a,a qbe National itnknQ system vas intended Will,
~ sdiug the rights al the states damaging private h
cic.s 20 tAs people with permanent paper cigcna
F'.ssi '''' ''''' --' ~
Baking system and claims only the credit Of having used DIS
bt efforts Controller put IL into successful operation
sr,l The aT.,emr whch Il superseded and one admirably
ssp,ei peculiar form q Government There are sub
N tas ul,.a Silit; l- 2 oo ,5y ,y & W , tIS & t
fI lrr 1Is sfiufr frno frfrl ID Inr ION IA