The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-13
TIE FINANCIAL QUESTION.

WoRCHEsTER Mass, Dec. TO- 1858.
To THE Hon. OAKRs AMES, M. C.:-
SIR--In my letter Of the 18th ult. suggested a
method OF furnishing the people with money at n
mean rate Of interest under system always safe
for the government and the people; sefregulattngN
and equal IN It's operation in oil sections OF the
Union by loans from subtreasuries. secured by
government bonds at par aud at the same time re-
deposits.
far interfere with what custom has sanctioned as the
legitimate business OF banking to take away the
inducement for capitalists to pursue it; but this ef
feet would 1t seems to me, be easily prevented by
states with their deposits to the exclusion OF any
same manner as individuals may. /.
The interest accruing on the bonds would furnish
same time supply the means OF answering instantly
all sudden calls from their depositors by enabling
Them 70 obtain currency at the Sub Treasury on the
same bonds TO any amount IS individuals may ut
seven per cent interest, and paying at their own
general banking act is needed, under the con-
troll OF the Federal government. Banks OF discount
and deposit are essential to ,the welfare Of the bush
ness community but IL IL not necessary they should
issue their own bills and loaning deposits except in
the manner proposed, maintain ia wrong In princi-
pie and should.not only be abandoned, but made
Such system would oner ample inducemcnt to
capitalists to engage in banking business for de-
poss and discounts and its legitimate results would
create q home market for and enhance the price OF
government securities to such extent as to bring
them to the specie standard and furnish q revenue
10 the government equal to the interest on such
bonds as should be used In this manner
me business community would a. the same time
be furnished with an ample circulation at seven per
cent. which would surely prevent any severe
pressure for money and also prevent any re-
dundancy; because II capifastsIand bankers
would loan at cheaper rate the Sub-Treasury
would not be called upon or would be iDncul-
ately paid. The supply would always be equa 70
the demand and the demand could not exceed me
absolute need OF the community, because lily
would not pay the government more than seven M
cent when money could be had for less. Inc Wiz.
would he "a safe the nation itself, being piseu W
its own securities Respectfully, your oDca,eas ~
want, EDWARD CsANi'
HORRIBLE MURDER OF AN ENGLIsHMANs...m,n muirr
BILE murder occurred on the list instant, eaa n,s
ST. CLAIR county, Mo. middle ageu ,na a n', t
James q. Clark, was first knocked on Tug nsnu snrn
hls throat cut and he left In tue y, us' Nivre
his body was found on the 3D. Suspiclon ~ once
rested on John Nj. Patterson, In whose COMPANY the
deceaecd was last seen. Patterson was tracked 70
SedalIa ON his person was found tne pocSetbook
of CLARK with hs name written IN full and $a5V In
money and n certificate Of deposit on the FIRST Ma
tonai ts.ns ~ s,ednlia. Clark was an Enrlshman,
Ind lately come to Roscoe. where he had bought
nrnuertv and settled, and mad employed Patterson TO
vworE frr nm Tllc people are highly.excted about
tho matter ana consider the evidence very srong
sga,nst the prisoner. Patterson lately came fioIn
Tennessee.