New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-27

and other short debt funded that cannot be paid the
reasons for more currency, or for suspension OF
contraction on its part are not apparent
Che statement that more currency Is wanted
for the ordinary commerce of the country Is
not justified by comparing the prices OF COM
modites in November, 1865, and the currency then
ia use with prices and currency now. This compari-
shows that the reduction in prices makes the
existing supply of currency fully equal TO all the
wants Of solvent people. The demand Tor more cur
rency. or a suspension of contraction, comes from
two sources First. from traders on borrowed money
largely in debt for goods bought at higher rates
witch must he sold at a loss, to the damage of paper
fortunes made when goods through the increase
OF the volume of currency. Present losses through
shrinking currency are as natural as the advance
was but the operation is not so pleasant. As all
relief produced by an increase in currency or by sus
pending contraction would be exhausted in sudden
rise in market values, traders and spectators would
soon be brought TO ask further issues of money Re
lief cannot come 10y this method, and can only
be had by contraction, and liquidation on
the part OF insolvents. The use of irredeemable
paper money has for years caused a financial fever
from which all business is suffering. What the
country wants now is not four millions per month of
contraction at Mr. McCnllochs discretion, but law
providing that some absolute amount of legal tenders
funded to degree which makes such law practi-
cable. Another class of persons desiring cur
reDcy and less contraction are the politicians who
declare that the party" will be beaten at the polls
UnleSs monetary affairs are made to look pleasant
until after the Presidential canvass. Whether this
last argument will prevail in Congress time must
show. If "the party" can only succeed by making
monetary affairs look pleasant by another era of ex
paion it requires little foresight 10 predict the re-
sult Of The Presidential campaign. The arguments
for more currency will be looked for with much in
forest as the session advances and the various schemes
Ere debated, as they must be.
Freichts TO liverpool, 1900 bush. Corn, at sd,
900 bush. Wheat at 3D. l25 hhds Tobacco, at S0s.0
S3s Cd. $40 bbls. Alcohol, at 6s 500 bales Cotton, at
Id and pr steamer, IS 900 bush Corn, at 10d. and
2eo0 bales Cotton at Ia 81 To London, 100 tuns Oil
Cake at COS aud per steamer, 1900 boxes Cheese, at
6rs and 200 9-bOxeS Tobacco, at as. British bark
TO Corr. for orders with 5000 qrs. Grain. at S. and
British bark TO direct port in Ireland supposed to
b. Dublin. with $500 Qrs Wheat, at Is.
The transactions at the Sub Treasury to-day were:
Receipts for Customs, $2SSOOO for Gold Notes. s35,
90; total Receipts S2O04,SOO "a; total Payments,
ti.2aQis 20; Balance, slO992S.19O 9S.
The Michigan Central Road earned the third week
IN November,
1865 ~ $s56l4 1867 ~ ser 414 Increase. 81 800
E1Fnli2s OF tue OetIOlt duu NulAN duhO0 lldilAooV
tor the week ending Noyember2l
iS67 ~ $50 900 1896 .s3591 Increase. .s3o9s
Printing Cloths, says The Providence Journal are
quiet; tic following the sales for the past week:
500 pieces GIxCI, &C.. extra 1900 do 64x64 &C., ex
ne 1880 do 6lx4 &c, standard 1000 do. G4xGi,
&c. COMMON; 1900 do. 56XG0 &c. 1000 do. 56x60,
&c, heavy. Total, 1880 pieces.
THE SOUTH AND NATIONAL BANKS.
sc ne Bdhr tf The Djbsnt.
ST: The South needs banking facilities, and
To Obtain hen Northern capital must be diverted in that
dir to1 on OF the INDUCEMENTS 10 subscribe the
stock Of Southern banks must be given IN the way OF
ueulaon Fo Congtess TO grant increase OF national
bauk circulation before resumption would be likely TO
work disaster 10 the system whenever resumption may
For this and other reasons such an increase not 10 be
Thought twill be safer and in the end better Tor the
existing banks To surrender. by requirement Of Con
srs 10 per cent OF the currency they have received
the full amount authorized ON capital has been
" SonGs GepasiieG This afranse@ant viii give back
the Currency Bureau about S2OOooooo 70 DC used ln
Southern banking IL Will also more amply secure the
currency outstanding and no sohd well managed BANK
ought 10 Object having 20 per cent margin security
iCr It's circulation Another advantage OF me plan would
b. O discourage the running Cf banks solely Tor the pro
ms circulation.
The sooner the business Of all such is wound
up the better Having regard 10 the 0fety OF the ySn
of banking organized whole II appears 20 me 20 DC
wlst lOI o Oauks 10 oiSeOIase te AssuS " V
kOCO1O0 o. National Bank currency and TO cheerIqly
the south NAV have an equitable allotment OF the 5000 co.,
OO0 as basis FOR local institutions TO carry our ths ar
Amended so that The currency bank shan exceed 50
per OF the value OF the bonds deposOeo OF 81 per
One of The bad features Of the Free State Bank systems
va; the heck Of snis security Lor CIR % dcre Their
circulation suffered great depreciation by reason OF the
T %6 x S that 6Iio SKIES in fell
10 30 ana NewYork Skies fen to 70, 1t is evidently more
United states SKIES at 50 than at 90 j. T.
HaltSt., Nov. %, 1867.
THE MARKETS