The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-12-06
The National Finances

The Washington correspondent OF the New York
Harald writes from Washington under date OF the
Sd inst:
The innumcrable financial bills which nave soo ooon
introduced ID tho GOuj1 denoastrato rather =
co.,fusio4 ! OF ideas upon tha. lpportant supJect
than anv se:t.el policy. Most or these pils are
crude in theory au. impossible N practlce; Ohe
clasx no ooses to Withdrew the natiora. banis
cur. caty by receiving the notes IN payment OF
In orn ii Revenue taxa aud turning them over u
the Treasury 20 replace by grlenoacks' thereDt
keeomg The currency OF he country at us present
state. Io this scheme II IS oDlected that tue
amount thus Withdrawn would be TIE same as u
bonus 10 the banks CO al TO the amount thus with
drawn. Others insist upon requiring the oanks
.orecl their notes and pay them into tne treasury
his would remove the ooh2 imposed upon
the banks and allow them the Eoerty 10 TX tAelF
own rates Of interest and discount. Nh. b!ngham,
OF Ohio, is preparing speech on the liilA1ic!al
uuesti %, which promises gleater scope InGn nas
Vet characterized the remarks OF otner EehueAIen
on that suojccJ. He Considers ina. tie Pdot.o
credit O? ta- nation sAou.d not be impaired ~ uh,
necessar, and hasty legislation and feels assured
that Congress will not lhtste the currency Oeyonu
the aoso.ute wants OF circulating medium OF noe
admit cf contraction. He conslaers IL necessary
for tae country to avoid old STATE bank system,
and therefore does not feel very hosnle 10 eno
ns:!ona. blnks. &c does not favor a lonS Uau U ~
coin, as 1t wuud increase tn demand on II AEeas-
ury tor 20 d, which, oven II the interest Were
pi Gel 1t lJw figaro, tao oxoe-se m!1hG over
rrom 4 c dffsIonce. He considers if the present
CCusress ro luces taxation puts the lnlPeIchnent
question oat OF the way and reorSan rs the states
uni rcscutel. W. th Grant as o candidate Ior the
prasiIeIcy the Republicans WI carry the country
tgIumplaLLly IN the nexs ELECTIONS.
ooLp NOTES IN PLACE OF LEGAL TENDERS.
Senator CorbctLs bill to provide Tor the ISSUE o.
gcld notes pace OF legal tenders Is the II sEe
TO iacil ta.e rotucn to speci; piyAe us; luz
will DO lid up at al carly day, wcL tho osisIor
mi A
argues that US our ex ports OF gold for the past
three ycarj exceed our productions py tnree Dun-
drad MI IoLs ths conclusion is inevitable tna0 III
the lapse OF . BRET teliod the country VIII 90
d.ainJI almost entirely OF specie. Inc novel pian
he uroposcs ior coupteiaclng this result Is 10 e!n-
power the Secretary o. the treasury 20 issue Bo!4
notes. TO tue extent OF ninety per co1t. OF Inc goa
il the 'Irtasurv, at tue rate OF seven nliloAs =
month. III little over twolfe months tAis WouIo
put IL circulation ninety In Lions OF go!d notes
md retire aoout one hundred and seventeen ml.-
lions or legal leaders. Ine receipts from customs
bang fifteen millions o mouth, t1e Senator c n
sidcfs tho Treasury would TO IL position, wni.e
hodng al equiVal nj ior inc issue ot go.d notes,
to ksep Oh hand always surplus OF ioL per cen.;
in specie besides that on deposit, subject to gold
certificates.
cHyEF JUSTICE CHASE on FINANCE.
Chief Justice Chase on finances maintains the
WOW that al legislation calcu ated to verthrow tae
present system Is unnecessary anu enoanSerS tae
public credit. he tIlGks the hn-nce: OF Tue couh-
try are now IN a very satisfactory coatlt!on, ana
citts as al evidence the tacr that within the last
three Yeas We lavo paid more vi the natloaG! IL
deDtedness than thirty years atCer the war o.
1872 On The So ]ec. or CONTRACTION he taxes t.'-
ground that contraction should fJIow resumption
aud Lot resumpu!n fJLow contraction. by allow
ing m ttcrs ~ take their own cou SO he CONSIDERS
the debu ii take care OF ITSELF ana the croft OF
tno country Wi. b, Dattorod b. alow.nsE'nss to
yeIl ain as ley ere.