The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1866-05-21

The LIABILITY OF GOVERNMENT FOR THE N.
TIoNAL DAsK CURRENcY.-Unitod States Treasurer
PINNER on tho 10th addressed the following let
tor, concerning national banks, to the Cashier OF
the Merchants National Bank at Memphis,
Tennessee: 49,
You ask, to what extent is the Government la :
BILE for the redemption OF the notes OF tho national
banks. answer to the full nominal face value of
every note issued by the Comptroller of the Cur
rcncy 10 q bank and by tho banks put into circu-
lation. You ask, should the bank deposits with
the United States Treasurer, to secure the circu-
iatlng notes with the banks dopusiting them be
inade4uate to tho redemption f the notes of the
bank, by reason Of the decline OF tho securities
deposited, is tho Government bound to redeem
the notes at par? The forty-seventh section of
the National Currency Act not only Civ. the right
to forfeit all the securities held but for any def
cheney the Government has o first and permanent
lien upon oil the assets OF q defaulting bank: [
therefore answer this question aflirmatively. You
ask again. could tho absolute failure of a national
INK impair tho value Of tho circulating notes Of
the bank making such failurS2 1 answer no; on
tho contrary, tho notes of national bank that
has failed arc rather better than those of bank
In good standing. il away from the business
narts or commercial centres or the country for
the reLson that the Treasurer Of tho United
states becomes the cas- ..ier Of such defaulting
bank, and will, through his ASSISTANTS and ali
other Government officers, redeem such ,circnla-
tion: II nek, fourth, are the notes OF the Uni
req states Treasury, beyond tne fact Of their
being legal tenders, greaterseeurit 20 the hold
srs tlan the. currency OF the ma hal banks2
The United States .legal-tender notes afford no
greater security to the holder than the notes Of
national banks. The only real difference between
the two is tn tthe latter are only a legal tender
from and to the Government, tho former are such
legal tender from and to- all parties whether mu-
inequalities, corporations or individuals. =. y,
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y Az Az ANoMaiY IN Book Pgpt1sHiNe.- New
York World says
Now that the tax laws are before oongress, we
hope that some attention will be paid to the book
trade At present our laws discriminate so much
against the manufacture Of books in this country
that our publiahers, to an extent not generally
n a mn inat tiona oil
in England. The late: publications Of the Messrs
hpptetons are manufactured for them in London
Messrs LiPPincott & Co., of. Philadelphia, pat
ronizo English booksellers largely, taking whole
sd.ion ed.ons ., ct Popuar Doos such as th dob
World Before fhe Flood; and Professor r5@al 3~ens
Comparative Anatomy and Physiology of tho
cheap English editions OF, the English nbyelists,
Messrs. Roberts Brothers, of Boston, have ab0nt
one,hait their publtcatioas manufactured in Eng
"rour Of Dr.. Syntax," Buffers ''Hudbras," and
Hu Miss jean ingelow's "Storios for Children" Mr.
also manufacturing thoirs in England 80
a French M , workman has just completed, for the
Duke OF wellington, watch Of novel and peculiar
the Dnke himself, who is we'll known to be Of an
imPat,en. i pat temper and cannot pass half an hour
lnolinatio9 to look at his watch. Now, it is
exceedingly impolite, particularly In England. TO
draw forth watch In presence OF aides. and the
t luxe mas hi5 npon an ingenious plan to ascertain
for 1t. The watch manufaoturod for lin ia n
snent repeater; I'll provided with spring, upon
couchinG oo which a email hammer Issues from tho
sons hand who holds it. The Duke win merely
need TO slp his, hand carelessy into his pocket
Of the .msp Spite and he is immediately informed
''7-.