New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-27
Currency mud Finance.

IT, TIE Ediicy u The ~ T. TibaHe
SIR: Allow me to make few remarks on the pres
en-, fluctuations OF tho value Of currency.
II we had been specie basis the recent cell for remit
taEces from Europe would rstltcd In considerable al
vance Of the discount and tight money market As is
we have experienced tightening money at ALL on the
trary our money easy and easier than before bet
opr cr-rency has become oneo dangerously unsettled
nv f he p1lI. In general No greater has been ut
tcred than the remark Mr. McCulocb ia his Fort Wsyns
10 the Inactivity OF Congress the redundance Of currency re-
and 10 present. BY jar The best selling marx" " ne
Compared with the proportion. established in other eoun
tries between the wants 81 trace ana tne SUPPL y, %
long have money to export eve mean o,ner tnn OUT
pare, o' y Bon g we a'a Taned Of our
But a day Of settlement Is sure TO GOMEZ -. 81, 49,.
The fortnight with its tsar OF sudden return OF OF
bonds from Europe should against further inc ease
Of our Indebtedness foreign countries ana cohP. US ~
look ont Tor remedy. When somoof our bankeTs-as 10 y
lend s5OoooOo Il gold % the tsak taM Use MIN o.
export II L. Bonds. and are now unsnihe on
e oi onr currency IL offered sure 10 lower The
gold premium first effort but an evil IN It's secondary
IN my opinion The TRBu's right when 1t Gale on
Congress fo decisive action on our eaire1sy anS dess
lab0rng under aud To lesitoa We nave iook
for resL .,.., ,,-..,,o, n,
compen Nationsl banks 10 provide for rdenPeE Of
sir in Boston, PAiiaspi@ end Neg Iort y waofins
hut ths viii not suffice and more done Mr. Hooper
makes the tax on crcuhon onequarer per hall
wear and aboshes cepita wouli ab.hsh the
taz capital and deposits also bat noud greatly Rerd'e
hs o. circulation.
Why sho.i the peol continue pay heavy premium 10
the luxury REDUNDANT currency Thu profits lgin
banking ree enCagb and II Is utterly wong taat
M should the injury OF the general welars be
made pros he9ks During the war when our
greatly exceeded income end we had 20 prsvde
easy money market TO float loans very wei
10 foster National banks by making tls bust
profitable through privileges But now. when
get rid VI supeiAbuudant currency INST cur
tail the se Womb therefore pose tic uDw
| ing measures t. DO adopted by Congress;
Iirsts tan Of tss per on ne MAJ ona E1Hk
circulation Jrsfl he 3lsf Of August fssrf
See0Hd A ltasi tsrsny cent ne rasion House dHip
skOnld 5e pad an seeHbdck legal nEdr fssad u gold. THIS
wosd the accumulation a gold in the Ireasury would
away great extent With the obnoxious snfs OF golf
the Government and dhere character 10 oar legal
tender.
TatrS renal Of ii. lssal tender take .sea the l5s
Of judy ls6 From date abacks would cease 10 be
legal tender between the geOe Dnt sin be receivable IN
payment and by the GoSernnSn provided that they are
interest Government bonds payable
IN gold nor payment u the remaining eighty per cent OF
Custom House duties payable IN gold Measures OF tbs knd
would wipe Of oxsena oil unhealthy and speouison'
fostering Institutions wod greatly contract our currency
hiring back Amorlca banking to legitimate basis. and in
speedy return specie payments Inc Oovernmen
crcuustauo compelled 20 give No Us iiin toI
the u our do9t into te per cent
bonds has longer any psricn reason To w tof IN easy
money mari e. and has 10 give Its principal nteruon 70
! az improvement Of the currency 49, ,,..
VII iu ito aiseus Jon. Tie particular measures might be
raf'7l -li the r-rcilu cclsd.r cotfoct ALL htl' q
clr,y MS through olr d.l.e.lI.s. L Iepan. Sir
Yours respectfully CuAa.ls AEssMAN.