New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-12-03

the company promised under the pressure Of public
opinion for day fixed, and withheld under advice.
Most If not all the questions asked by the opposi
ton, require definite and satisfactory answers before
the stock will attract new buyers to its support OF
keep its old corners quiet. The former custom of
making an annual exhibit was good one and can
not be revived too soOn nor the statement be made
TOO full The fact that the Legislature will soon
be in session should not be forgotten by those now
advocating further delay in making the promised
statement.
The steamer Nevada, belonging TO the opposition
line Of the North American Steamship Company ar
rived at Panama Nov. 81, having made the fastest
running time on record although she kept to the
schedule laid out for her, which was A days from
New-York to Panama through the Straits of Magel-
lon The Nevada will wait at Panama for the pas
sengers which are advertised to leave New York in
the Nebraska the 25th and proceed at to San
Francisco with them The opposition begins with
frst-Tate steamers.
The following was the days business at the Office
of the Assistant Treasurer: Receipts for Customs,
$4,000; Receipts for Gold Notes 1851 0O0 total Re
ceipts ST. 73I 1896 OF; total Payments, $19l AIS ~;
Balance $107,995,69O 10.
Freights: TO Liverpool 200 bales Cotton at
5l6d- 50 bales Compressed do. at 9-S2d; LOCO
buOh. Peas at 3D., 1000 bash. Wheat at Cd; 1900
BUSH Corn at 3d. and per steamer. 500 bales Cotton
at s6sd 500 boxes Bacon at 45s; 5000 boxes Cheese
at sos; 1920 bush. Corn at 1Od, and $500 bush.
Wheat at lOld. TO London, 15,4OO bush. Peas at
| 1Od.
| The Chicago Tribune of Friday p. m, says:
Extreme ouietness prevailed at the bank to-day, not
withstandig the fact that yesterday was holiday ana
that the business OF Two DAYS haG 20 pe % nSncc
packers 10 resume operations, and the demand for cur
rency at of the banks in consequence more &C
tive but the aggregate supply ample for all let-
mate requirements, and difficulty was experienced IN
steady and unchanged. Counter rates were quoted at
onetenh OF per discount buying and onetenth
/ premium selling.
HOW TO RESUME SPECIE PAYMENTS.
| 70 Ne Editor Of Tribune
SIR: The people of the West are clamorous
for more currency; that further contraction
shall take place They want enough TO facilitate the e1
change Of commodities, and why should they not have
its II now on specie basis the supply anu ue
uate itself Specie funds would flow 70 the points where
ms4ded for the business Of the Vest the laws Of
would supply the traders there with that of the most Sc
| be considered unlimited, but under our pre-.
snt system nTomses Of he United States
Government limited IN amount and bank notes OF me
wants Of the community may can for expansion and s
now being arbitrarily contracted by the Secretary Of the
payments Mr. McCuloch, by retiring portion OF the
demand promises Of the Government while he accumu-
ates large means in coin toward he redemption OF inc
remainder, is pursuing course which Is generally sound
where Indebtedness exists But , the circumstances
what different, it's irredeemable paper being our
] only medium for the exchange of commodities.
Wocan scarcely imagine the baneuland parazing effects
upon trade II the withdrawal OF irredeemable currency
duced - to comparatively small amount While the Gov
eminent may accumulate In lis vaults, unused, vast
hoard Of specie intended TO be the future currency OF the
country We all wish TO get back to specie payments
We all prefer sound currency either OF specie Itself or
The East, the West the North the South all want some
thing which will medium Of exchange in trade
/ 40 /
old system of banks be at discount 100 miles RON the
Government issue small notes OF various denonlnauons
payable In coin, these notes TO DO obtained from the
Treasury upon the presentation OF gold or OF the large
purchases and sales Of gold in Wast me banks OF
United States have long since ceased 70 hold any con-
siderable amount Of the precious metals h P hec6 6e ssr
i last it held about sii Ooooc Of soid and
curfency was sss 10000 There is no objection
70 the OF two mediums Of exchange-tWO cnrehcles
h tni and these notes might act
throughout the entire country medium OF exchange
re6cv Goods might be sold and contracts made payable
coin Gresnbacks as persons might agree together
The Arrangement would IN short uiDe Dc ICuba 10 WOik
wen and the Secretary OF the Treasury while he might
continue his $OOOOoO month OF irredee'
able ceenback circulation might at ne same time e1
pand t0O0OO or 100000 per month IN specie currency
thus not only supplying the country Win SOUND cur.
rency increasing IN volume but also aceustolhg our
people more 10 its use In thls hahnel
some OF evils consequent upon the use 3I an my
I de-
cndcayOrng 20 return 10 specie pay
Inente for return must eventually. Tie suspension
Of specie payments the 3Oth Of December lG, was I'M
medatc succeeded by large expectations inc precious
metals aud resumption must be prccede9 Nv uer in.
portation one Of the great laws OF trade IS that The
/ precious metals will leave country where they
/ are not used as a circulating medium This
/ process has gone with US qnul our younger |
children scarcely a coin by sight. one objection
which may be rased 10 the proposed plan - that the legal
tender act would interfere with Its operation This ac;
that the rredeemaele pomlses OF inc G0yeri-
cn the market value Of which may be bt 70or 80 cents
ON the dollar are worth 100 cents and that contracts
made In gold NAV be settled in them To this would re-
pv mat the time has arrived for Congress 10 modify this
act 10 night be left 10 apply 10 existing contracts leav-
ing parties make new ones IN either greehchs or blc
Gle they might elect Laws Should ceItany pe com
men sense GreenbacRE having value and specie an
other this difference value Is practically acknowledged
Ina business transactions What common sense ~ there IN
continuing the legal fiction Of their equality In value,
particularly when such fiction becomes nischeVous
one in It's operation upon the business OF the country
| l. e.. l.
TIBfH Of the Loans, SIScte Circulation DcpOan and
Jfgqi tenders me Banks Oh Cty ~ Acr York JOT
ne trtek eading Saturday. Not 20, 1867.
/ Average Average Average Average
NlERs - Amounted Amount amount Amesnt