, 1869-12-09

81 tGea,67I,lN
Hero are s1.Ge2, ,est 100 Of bonds. On more |
Ihan ouo-thirl OF thetu the government i've
year option hal already expired. There bonds
are slnag In The market tor nbcut 81 cent? g7d.
Sec1etaty pvatwel worll say 10 the holders Of
these boaas "EElees you accept new boud at
~ yer cent intestst, Instead Of per cent, We
WILL aa rentlty, give sou 10 per cent In gold
more than itc per cent bond Ii wor.h n The
lnatteL" Now there u scarcely any douns that
Iew ~ per cent bond, having long tune 10
fuo, md M sde spt c.ccallJ payable iu coin. woall
appeal to different class OF foreign Investors
IRON the present o-eVs aud that for that reason
they would Sell for better price In proportion
TO the interest they would pay than tho
b-.0s. Bat after having made al due
allowance for this advantage which the new
oords 3oulu have, AID tcatlng in mind that, nc
eordtng to Mr. BontwellI own =statemcat, the
4ts now, TO q large extent, held for pPecu-
lative Purposcs," lhe oHer to pay .he priuc!pA Of
tEe :-eos Is rot otertsg the holders Of them the
alternative uhch Mr.. Boutwell, insists It L.. The
proposition to pay them 10 per cent profit on their
kop,js Ii not coercise mcaiutc that viii Induce
item to avoid It By taktuR bond ht lower rate
OF interest. They bought these $50 bonds for
speculation, anil payment Il wnat they want, a1l
not what they arc seeking to avoid. Therefore, his
proposal Ia contrary 10 common sense. II
Is altogether probable TINT, by making bond
which ID its terms would RtDId no rreleIt Tor re-
Eudiaii,r, VIC cau get money from . claas Of fOr-
| e.Eu inv es1ors who wll not take our present
| toads, and that, borrowing from them under the
pttdge to gradually take up the present objection.
| ahlc obligations, VIC Gnu get money At more res
| bornble rntes: hut before aufthtng Of that kind
can Oc accomplished 3ir. Boutwell, must get rlI Of
the notion Of erehanyin:t boads With tho rrracot
! ho:.lers OF the ocss.
Mr. Sumne, & bill, introduced In lhc Senate yrs-
trrday, 10 nu,horizs frt-s national bank,ug, with
| lie ptuy!so that EEcc1baesa shbll be cancelled in
| lhc ZANE prpE,1ton ~ National Faux currency
IA iutrcftsl orer tho present saea. 900 Limit,
rontaila The solution OF the whole question Of
| trec:c payments. There Is abundance Q! private
| r.r tal throughout tao coaptrJ that u DESTROYS
4 ri gu'1 r mo bauktrg, nuh nll the ncwlJ-orGAn-
,zcI tanlA VII wA1s circulation. With tais
| lvsitl11On on the rA:t Of CoccFc8S, this pr1va'e
naaG1cE carttai IL thr National Raukt Cnn he ln-
| .lpcea 10 btroms b0s only an additional plcIgc
10: The tecur1tJ o tar paper money circulation.
,a, ut th+ sanc time 10 ntsunc The task Of brig.
| tcg !. up 10 p.r. Mi. sumner haa started IN tEs
r,slt road 10 tpet!e Resumption. Rctlrc tbs
| Eitt.-l srks, and the goylrnmeut Is not onlY re-
ue,,t ;rGm The Ecctsstts Of acctCulat!ng the
gold to resume with, bu, the panktpg capital 81
Tie eouEtEy Incomes pledged to accumulate It.
Sotce mar rosfltay object that thcrrtvatc capital
O will not cntcr lnto national banktns II there Ii
| 10 lie coutractton OF the grecnkscks In core
s1cndc1cc with the ucrrAsc Of theis lssucs, taere
| Gy cbGtrg them 10 approach rrdtEptlou in spc
cic. Hut this Is not the case. Business men ant
men OF capital are Wiling to progress tcwaai I
i! srcn,'er rnauc,al basiA II II should be iount
thai there wa4 no Increase Of National Bark ctr
| cr'alion pnder The provisions Of ME. Sumner
blll II would tr proof tt,nt the rronts OF the Sa
! t,onaI Banks hare been greatly mareprcacntetl b
those who arc continually tuy:pR that they =.
. / Haklug such enormous rfrEtA
The loc1: motcy market fematcs In The SAN
! | Condition Of st1iugcncy, which eecns to hare et
> c,tue chronic. The banks connuc thcir 10 re
cent loaus to E1ycrci few, ard ali thr resi- alv
{ 10 pay higher rates ranging from 10 per csr
| per uorth, Just ~ they csn make their bargain
TIE uow OF curreEey to the country Is son,
what Ices than yesterday, but the anouut sent Of
= ! thus lar In the week Is sui In excess Of I'll
= anount tent out IN the corresponding period (
J. last week.
. Exchange H. n1ra between banks At SIC n
y 81, Goo premium Al the counter. ba-kcTs sel
C l.lc pterium anil tuv at IRON Sine to sl...' r
tl,ooe on.
+ An ,runartaut hank change Is reported a A1o
= 70 tske place: majority OF the STOCK OF the \
q ttonnl Bank OF Commerce OF 1hts city has eet
n sod TO parties who can influence valuable d
y posit., and who w,li take al active part In Il
- Ina1agemeat Of the bank Tue capital
to te Increased fzou &ak.oN
lc tloc.too, = new Executive Is TO be clet
n 81, under whose management The bank vi
= probably become one OF our 1sstcsAsa 1nanc
=. Institutions. We hear also Of another Natla1
* Bank to he Organized seou- There ls noth1
" that Chicago staudA more In need Of, In
!! commercial point Of view, than more bank cai
ia .al There ts 60 other city IN this country whe
d. the tank capital Is SO tnan In proportion 10 4
:, El1unc Of b5sirc4f, AID there Is 10 Other pa
~ =. whcrr oark capital mafes larger prnnts-
1 A.rfn FrSct RNAF Ia IA