The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-08-13
FINANCE AND TRADE.
.l.ny.in, an., Con,.ne. eial Item.

Elr,ascini and Comsnc, ciat ntems.
The shipment of bonds, it is estimated
in we'll informed quarters, within thu
last ten ,Iays, amonntsto five millions Of
dollars, and important orders yet re-
main unexecuted. Our bonds appear to
be gaining ground on the Paris Bonrse
especially Sixty-fves, and the recen'
Shipments TO France have been fnita
important. The continued; depression
in the London money market, ana INT
mistrust ofrailroad and company s'ochi
in England, since tho panic OF last yea
appear to have operated in favor OF lii
vrstnlents in United States bonds.
Til. State of Connecticut used TO sub
scribe for the stock of banks I'D th'''
s.ase. having the privilege Of Withdraw
ing If, subscriptions on giving ceriaio
rotice. When the banks we're reorsan'
;zea under the national system. II owned
"a coo shares in the Hartford, and l2OC
in the Phoenix Banks, and called for thi
value OF its stock i'll these institutions
The banks refused to pay the State. more
than 800 per share, though the stoe
ofthe Phoenix was selling at Sl2O anC
that Of tie Hartford atiSl4O-making
difference to the State OF about SSO,UUu
The State claimed this difference ant
brought suit for it. The Supreme Cour'
of Errors has just decided iii favor o.
the State. aE.
The New Yo1E journal cC CORmero
says: We tTast that Congress ut 'h'
next session viii make all entire rcNlS
ion of Ike laws under which the present
bronze, copper. aud nickel CONS arr
executed, with u view TO remedy The
loss and inconvenience now suffered
fsom the strange mixture of sizes ant
quality, which bear 10 definite relation
either to intrinsic or legal value. Tn,
metal cent last authorized is composed
of % per cent. of copper ard per cen
of tin aud ZinS, with Il standard weigh
of As grains. The two-cent piece ha'
the same composition and weighs u
grains. The three cent piece is made NJ
of copper and nickel mot exceeding -
per cent. of the latter rs shall be deter,
mined by the Director Of the Mint:
with standard weight of thirty grains
And the five-ccnt piece has the same
composition AS the last, with weigh,
of II lG-lUUths grams. We recapitnlat'
the standard weights, with the amount
for which each is "a legal tender:
Weight. Legal tender
One cent piece, grains. AS cents
Two cent piece Ito -. 9G scents
I Three cent piece, do -. - 60 cents
Five cent piece, do ....I1.lG loo cents
When the one and two cent piece
were first c0ired they were made ;
legal tender, the one 20 the amount o
! ten and tie other 20 the amount o
| twenty cents, but the act of March 81
! 1868, reduced this 10 four cents. w
/ are not aware that any change wa
made last winter, and believe that th
above represents the law as it nov
stands. 'fhe alIangemeTttof the size
and vtlu" is altogether mcOn grnou
Til" Gotta shnuia ali I've IT uniioTm com
position, aud weigh accordingly, as ~
90, 60. .rO grains ior the one, two, thrc'
and tive cents; Gr each higher demon
4 nation should hy more valuable intrin
sically than the one below, allowing al
uniform increasing ratio of weight, 81
| that the series could BE easily distin
| guishcd, and kept in mind. The wan
of such general uniformity leads L
great confusion, especially among tn
! labUving classes, who are easily i'm
/ posed upon by wrong computation
/ We know that the difficulty in the wa,
Of making n small coin OF the less vain
able metals is i'll the danger OF their il
legal production at some manutactOr,
outside of the mint : but we do not SCI
that the present arrangement aGoFd
any additional guaranty against unau
tEorizcd coinage. We suggested, man!
years ago, the coinage OF perforate,
| pieces, and q one cent coin made of 9;
per cent. copper, and per cent. Silve
was struck, Us .. sample ut the mint, bu
never sanctionedby Congress. The diff
tiCulty now appears to be in the totd
want of system, and we see no Othe
method hut the absolute repeal of al
c.;Ntiug laws relating 10 these coins
amd the establishment by a new act of
e, >h series of one, two, 'hree and five
cent pieces, 10 be related 10 each othe
! by some single method of computation
aad easily distingwishable by the touch
! Il WHuid be au easy matter then 20 sub
/ st!tutr tAcse iar the Old issue, and w
Sh"Uld have Il metal cn.rcycy in small
coins satisfactory to all reasonable pco
pie, and useful at all times, whatave
| might be the condition Uf the marLc. il
reference 70 specie payments"