, 1869-11-16
MONETARY IND COMMERCIAL
MONETARY.

.... MONDAY hfHSIx0, Nov. Ii
Tie following letter n8s been addressed 10 tns
nnancaal Editor or THh rx1ErNk BY pfoninent
Wholesale merchant Of this city, on The questions
which begin to attract more and more s1.entioa
~ tne time draws near when Congress- VIII pso3,-
BY be called upon TO act on the questions OF cur.
Trucy and reeuUption.
Ii the Eaier " Tbs CAseuoo T4iSnnk.
=, n 1on1 article on ''Tne Resuu pslcn Of Specie
lish1 s,oapa ,ou nd ha,s ~. .aten tae
thronkn The workings Of Slttonal Ban1,sg lsV'
ny 1nnt neAn3 IT sumption can be bn,peht m nv
M1n 20 Gre1str shock 10 the business Ct Ino cum.
u! t1a0 ~a1 created By depAf1ure from me tpe.
eie standard. lIke m4oy oiher onstne1s ntu.
bate my v1eNs upon tne subteck oi how 70 aayr =
stn a O. w. - 9otd, and. w1a Jour permia.iou,
WI ny them before J0ur tcadesS:
tn.e ConEreas 1hoo n once empower 1ne
Secretary OF the frratutJ to rec4l1e jee1;.ssod-
~ ~ 1oI ao.tes pn imports TO The Al QUIZ OF one
haI The d1fy. Thfs II once crrates less % paott
fof Eoid~ auo, u the tape time, gives saluc 70
iefLts1 dess thst woud soon bring them up 10 a
Setn,M pec'asr The present Sa,iouaI Bank act.
70 Expire January !, 1875, allowing twp3ears to ne
naLAt, 10 w1nd Up Ill ets tnt! choose 10 Avail
70 " pIetett one, on,y alox the Law 10 ee oprn
"a u Ihc surun q crcn'at,on. Aiso, N the lev
As, cfEaie new loan 10 fecure circulation to
COZ sist Of - per cent bond, hAr1 tEcot5 I'VE
1sMs 70 ron pr1t e1ps1 Atd Iutefe.t pasnole Ia
RoId Tie Present hanks 10 h NoxeA 10 10 o.
atcef Inc lew law, BY 4u1fcndeslpg the1 per
ee ess. ooIds' atd t.klEE The new boaos IN e1.
eAanEc Ne* tAnks to pay gold fC1 honda, or sur
m isA:tr : PER cent ocso, and reeessr n per cent
70 70 .. s1soAt9e Al hat u 70 tase rtsefye fuld
snn, Aliow them 70 1edetm 10 con, Or lexs,.sen-
GER. ~ thtJ may elect, aud Thus ptesent 1hr
afsw1s q - of gold ,or boarding, which ~oold b done
The ~tthorA = Ing OF chl1ters rrpn The Old naoss
u lSnt tccn unjust 10 some parties, bat II theT
~ s1sn,1e toe Ko,tinS Of bank under tho pro
postd law. Noua not tee1i SO bad thing u We
L. n - hAN IA
aAe to 10 Pei cent on their caplt1l for instance;
'ss sSsa ti1ss.a. = spsses sfs.,: At st''0 W."
7Tcvrt-.-...,...- $40 to,eeo as1o, snn
1. ea band ''Pas Is La. ,, rs,. s'sss' e:
"a, ,...,. se............... ss:ss 7,s. sla;E Il
$500 sDuo
The old hsre1 have doIe very vel, apd eau al
1910 % TO fu1 10f lew 3eat1 u1uer the appTd
showing, which. oI coorse, Is only portion ii he
Ways tneJ Eotld hate Of EakloE ncnry. Cudrf
tlis lav, II The ba1k Circulation shou reacn the
Noolo n quHe depcalt oI tsN, ,ooa,os1 Ia eonds
to secure circulation. On which there xoaId
+ s.srs a's e espss Rs5 81
tsa t1e. COO. According 70 tne lA.t Treasury rc.
iaars ca cirrnlaiton ano deposits, wnicn IL eaus;
Ia pts cent on the circulation. Taxing ttis i. !
h,sts OF cstcuatior, the Eo' eminent Nould rot
nc.cay pay Ole tent q fn&e1tst an her houds used
IS takts Of circulation. This xoaid do : ~
WITH tae ptnd!eloQ er3 Of :" stse tne .nte1est
b. Ano''.h1rR the bants.~ Tno !egaf.fendets re-
Get, I'd Tor o..et thond be n trrd as last ~ Bank
circulation ws1 Issued: with the sasp1us buY gold
and pas bt tbds fnly due, ALd vi The surplus gold
u the Treasury Go tho aame, and sAse tascfe.t on
the aIco eo0 no y ing ,dlc, then I'll go.u re-
teivt q lItHn bauks foI the per cent bonds to te
rted fur tie e4ne pUlFose E.
1fe vio1s ul cuz, coste1pondant n exprcased
assove an. sc think, IN general tazm4, correct
Vt1. that resumption can be accomplished oJ
nsass Of National Bank, WITH len dis;azbales y