The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-16

LIE SHEET.
sls0,OOO fall to the share Of the Exchequer,
and 100000 to that Of the Bank" that IL, the
government takes two-thirds Of the profit The
same paper remarks that "the measure Of the
gross profit on the issue cannot be any other
than the interest borne by the securities which
are deposited in place of gold as security for
the bank notes issued up to the amount OF
sl5, 100000. Beyond that amount every note
must be represented by gold" AT the rate the
Bank Of England calculates the profit on
currency of about forty-fve million dollars,
and reckoning the difference of interest on our
deposited by the national banks and
that Of the British securities deposited by the
Bank of England, the profit on the three hum
dred millions OF national bank currency Is at
least twenty million dollars year. Were
the government to take only the proportion the
British government takes the amount going
into the Treasury would be nearly fourteen
millions.
Why, then, is this vast sum given away
10 the national banksi Why. indeed, should
hot the whole amount of twenty millions
or more be saved! Never was anything SO
absurd heard Of before. Never before did
government recklessly squander away such
vast sum. And how easy 1t is to remedy the
evil. All Congress has to do is to withdraw
the national bank currency, issue legal tenders
in their place and cancel the three hundred
millions ofinterest bearing bonds now deposited
as security by the banks. The legal tenders
would buy up these bonds. That is how the
government and people would get the profit
on the currency and how twenty millions
year could be saved. The banks could do
their business on legal tenders. A law could
be framed regulating the number of banks, the
condition Of their existence and all about them,
just as well as the present law regulates the
national banks. We want no other con-
nection between the government and banks
1t does not suit US to follow the English in
their banking system. We need something
more simple and adapted to our own condition.
But, at least, let us not do worse. Let us not
national bank monopoly which takes away
from the people twenty millions or more year
without the least consideration in return.
An Interesting Budget Of Ncws from Mexico.
We publish to-day letters from onr CORES
pondents at the city Of Mexico, Puebla, Vera
Cruz, Durango, and with the headquarters of
Juarez. The latest date is the Sd Of February,
only thirteen days ago. A full and highly
interesting account is given of both military
and political affairs, which enables us to form
a better opinion Of what Is g6ing on and what
is likely to be the result than we have had
heretofore.
The embarkation Of The FRENCH continued.
and large feet Of transports was expected
TO take the whole force away. Il was probable
the last French soldier would beshipped before
or by the LIST Of March. Marshal BasAine,
acting under instructions from home, doubt
less, had issued o circular or proclamation
informing Frenchmen who should join the
Mexican army that they would do 90 at the
peril of being denationalized. They have no
permission to join the Mexican army, and If
they do they must not look to France for pro-
lection. Napoleon is resolved to wash bis
hands clean Of any possible dificulty with or
about Mexico hereafter.
1t is evident, too, that Marshal Bazaine wants
Macmillan and the imperialists out of the
way SO that the liberal General Porario Diaz
may occupy the city Of Mexico as soon as he
evacuates It Diax was approaching the city.
The Marshal seeing. probably, that this would
prevent unnecessary bloodshed and anarchy,
acts in spirit of humanity toward the inhab-
itants.
It was understood that Macmillan would
leave the city of Mexico Immediately, if he
had not left already, for the point whence he
would embark for Europe. Thus the end of
the European Intervention, French, Anstrians,
Emperor and all, was at hand. In the mean
time several Of the Mexican chiefs who had
linked their fortunes with the empire were
preparing to make desperate struggle to save
themselves. Marquez and Miramon were most
conspicuous in the new movement against
Juarex They were making forced loans, and
Marquee was most active in doing this in the
city of Mexico, Puebla and Vera Cruz. Men
were being pressed into the service of these
chiefs In the most rigorous manner and
sent forward to check the march of
the liberals toward the capital They would
certainly use all the resources in their power
to hold the city. But hardly any one be-
lieved they would be successful. With all
the efforts they were making their means and
force were small. Their severe measures Of
impressment and forced loans would operate
against them az soon. as the liberals APP
proa ched Even their compulsory troops
would probably turn against them and join the
liberals. The opinion was general that both
Marquex and Miramon would soon have to fly
from the country--if not captured-to save
themselves.
The tide Of public opinion in favor Of the
liberal and native government was swelling