, 1869-12-06

Rrti r,sissi bSnas set Il M.rrh ), ls,4 ID - "~
,,ser1,s -. .............:.. 5;7,aso
.+5NN
ID ~ Iep. II Of id; caied Inc a;ssu'aa of
congress to lhe .acL tpat, Ia several iDssatces,
Ile'e< ~. pared In the u-us; nanurs for 1ssle Ito
nslcc. Two amouats larger than the Ecat wtra
rentforen, so-Ht': - .' in 1fry acd one huu'lred
Ss, Eo,ss of n, sy nant tsas
dred dollar Eo;es Of The Flrst Ssuo1al U1ak U!
jersey CitJ, u addition to which aeyeta1 tncta OF
Suspicion at that time was directed 10 colore.i
man, who had been emp'oJ cd ID the office from
The u2c Of IT. organization. IN coutdenl,al ca.
ract1, asd Who WAS then unucr Arrest. Thr ey,-
Ieucr sCA.nAt htu1, though very Strong, WAS MT
considered TO 0e concus'Ye and It waa thought
b&st no. to t1lEG tue Cave to tr.al Ut ouce,
tut IL walk aod Are What Additional te1iiuoa5
Nigh: l- drse!opet by The lapse Of ttIue. During
tic XII ear Efforts Msut b. The EalftT party to
sx.M n' & y ne ne 'soen Eosss furnishing ca.
tired III the CtlL.tai GouEt Of the District In Au-
gust inst, u:d cns tc.ed, o1t motion In asTc3s OF
1ndgDet, q W. granted ny shs Court for some de-
charVe.t: he WA at once reatfefttd On several
other charges, AEt t. E0E s.ttnG his tina. on
notes hAs hcen recovered. and It Il q serious
question whether prostt!on snoalt not ht made
ior The pay naent Of these stoit1 notes whea
Their similarity to the Ren7;ne issues ot ;nc
same ana oiheF SafonAt Banks, and the dltncultY,
10 any bnt the most expert and sE1l.fu in Fecox-
for the grext nat1Hy Of ttlosc who may naadlc
money 10 distinguish tsc spurious from The Rena.
!1e s.uss The :u.jeSs y rv:pecs:us'y sub 1:,te1l
kEroKTS.
Ctter the act Of CunGrc-s Of March 3 1863,
thtte teports hare been called for. Tue nsss cal
~Ss usGe Tuesday. April IL, for rcpor. emo slug
On the previous saturi.y. ApF:i i: 4
ano% 1ng the co.. n Of :ec nanks on Saturiay,
the 1ifh OF June.
The sh,r1 cal wsz male Ccto.e1 Is, for report
Slowing the condition Of The banks On the 3sn Of
rne d1st report showed . larger natnber of banks
than usuaL dttei-n nt to Their res-rre Of lawful
money, hrt generally in small auoauts.
The seco1,l nnd liir.l reports, successfully, ex-
hlei1ed an improvement IN this Respect: AMI as
they ere regarded Is setting lorna the actual
la'ton Of preparation. the sala are Ia more va-
uah.c aLA gratifying, In faet, the two ey.ss
Lost complained Of under the former RJstem Of
reports, 1o-Wit: Previous preparation on the rarf
OF the ian1a. All the Opportunity n1,rLe,i 10
%lNcu!atuts 10 manipulate tae tu0uey ina1ke.,
Eass sssn .lost sn,sy s1s aW3y rn TIC
,ilI;op. q rule are less exteadcu and have uore
complete contIu Of taett aEAtra II they carry
be ltss vi tie merrt ii the torro" err A1i l.. he
ter able TO rEotci the legitimate interests OF 'he!r
cusorers, AID hettes entitled to tue fostering
cafe Of The government
LQt1DaTtoS.
Aathe tar NOE a;alds, 3 baof maE, by vote
Of the staleho;oe1a owE.ps two-thtrda Of It's
stock. go into liquidation aod close up Its
Affairs Alter the expiration Of one JeaE tEon lac
laoi,taton Of toilce 10 To bl1-ho!1tfs ant cfedl
lor.. as rssa'red o5 ihe sta.n!e. = msI aepoe1s
Win the TteasuEer Of the tns;ei S;A.cs letal:ea-
dcs 1oct for It's cnts aIs u cuc claa:t1p and TAKE
pP The tonla held ~ security therefor.
This teeion ma Undoubtedly li.scns!csl 70 pro-
vide iur the winding up OF ba1ft c1ter the ost!t-
oar, ronalilons l5cldent to spec'e pAymcats. The
n.tu.al dna Of notcs 70 The p:a@e Of taeiz !ssue.
xnsn n4L n arc na'sG p sasee YOU'D ssu:s Ese
AID !: the bank Is folSc.t, and in good fa.Ih en-
leatortrG 10 close Up It's azs:ft, the most Of It's
.Ioa = e e. IL as as @
cssioa to have prog7easti ~ III taa, the haak u
zrady 10 dtst.,btIe il capital aEonS It's s:ockan.
ns1' ,ne xhl:s er ,ne nf"'''Es ,usoa e. .3 ss
10 computed, ani the SHAREHOLDERS discharged
ron III further Inability On account Of Its circa-
latlrE LoteA ~llhta REASONABLE uHe-
In this view Of the casc inc provisions Of the
stA'ute are reasonable aci proper. Nur, urder
e1istire c1rums1ancef. when oAnk notes remain
TIC use y the notes II Nancy Is 80 much more
ss:uah!e to the holder than any ea:n hr maJ
e11s frem aeir r. tessP1on thai he III not
s,ded IN the law. sud toe purpose OF thai ptos1-
sloo, ate oE no rnotaear wnatesrr. banks SO iu:o
,hets notes so1 redemption, by published notic",
~ 1eqttitd hy isw, but, daring the whole }e4
That thtlowA, are not obliged 10 1csieem anythtnK
laced Eote. This facility Of circulation and
have prohahlt. tn':ueed soue ASSOCIATIONS to
TOE, with the expectation Of continuing 70 reap
The teneEt Of ttt.r euislaud!rg circulation, while
th-y coo'inuc to do banking business Under
S'Ate lAEs, OF As rE7yAtc bSrkefx.
1hts u IN sbuse that could oc15 be pEacttsed
nact1 su.reEklou Of spAlc ray meats. AL dus-
llc the a.~etce Of Eli demand fos rcdenpi.oas:
bit tf1P f1r*e tx {rl4 a
requites corr ttioc. Congress provided BY Law
for rte organization Of banking asso:lauoua
and wh!eh should oe sataosized Is is,ue notes 10:
circulation a. nat:oa u currency. Toe prEileSr Of
l.aung Circulation y Il granted upon certain con-
estser. TIE inv Goes not consenpla:e ,hs1 tne
coEi;t.ons should te cast aide o. 11srtg1ntcd
Hhl.e tae rttVileee i retained. Tnios;aos:eiy.
such opersitouf, a5d the Interference Of Congress
Is necessary 10 prevent it, pt4sleges truna being
aossed. AID to protect those bsaSs wslcn are d
good ia,ih eudeavorng TO comply wl:n Ill the re-
Z Ii respectfully recommended thn csa-
8 :eeop ssGSa Rs:s ut, an o9 =;
requiring 81 balls ihai 80 u liquidation to dc.
po>:t xalIendes notes ioE their Outstanding csr-
the Treaaurtt Of tne Emitted S:Ates - security for
tuch calculation. within sixty Gays from The date
o1 the sose OF lie snatehoiiers 10 20 into liquids
uon.
ME1uoo or COLLECTING CNI1Ip STATES TAIES
Section II OF the Sasiooal RanlsnR law provides
no, fa1 ;s1tS s 's se. o1s
Tanks The hanks are required 70 report and psJ
thest ta1ea seut4nuIallE to 1ne Treasurer Of the
ST. &C ;her Organization, paying tnio tie Treasury
teEeral El.l:0bs every year, without tsp5a.e, a1d
without expense to the government.
qnired 10 Fay 4 special iax, aa.i dtsidead 1a1 10
The Cbletiuts Of The tetet dit tIss II Th!ca tnty