, 1869-09-24

a prominent bunker ul New YORK auErests IN au
| open letter to the Secretary OF The Tnasug TINT
!tWouM Be an Improvement o. the present plan
Of bond purchases to uake the pu1rhases In gold,
Tor the following n asons:
Firstly. because the present mode cfexchange ot
gold Tor curteEcJ tn the open market dcrauges tic
money naEket BY contracting the currency.
Sfeo"dt1i, because large proportion Of The pab-
nc. who arc cot Terted IN finances, mistake all the
ctT1elts rs4ce p1d :or the bonds, {oyer and abore
loo) for premium en- the honds purchaseH. where
% theS are in lAct bought by the government, At
thets nArke1 pHce, viz: about 20 cents on the dol
Lar,
Thirdly, because 1t would lead TO the Custom Of
estimating the value Of the bonds on gold baaia
Antbfee are rooc restons, and II the secvesarJ
csn puichsse bonds 10 ~ rood advantage on
other actcuntF. there Eeems no tea.ou why be
hhould uct Et,ze the enormous amount OF Idle
Etld In the fseasury iu that way more edectnally
thnn On the present plan In tbs connection It
may be added that the amount OF available com
In the United States Treasury Is SlHa Sc s47 IN.
cluatug 81, OF outstanding gold certificates
on tie 18th instant The coin, with the excep-
ton Of about Il. 600 0oc, Is In the sab.Treasury,
New YORK: rather too much Of u good thing. l,
T. qre,r position. lRtt tAfe one.
The cc utnan. Idea OF railroad polcy ut present,
vz: The consolidation OF the Leading roads o, the
country into few PRINCIPAL corporations thus
concentrating the FAX, 900 600 OF annual revcnue
which the roads enlt Of the Missouri Etyer yield,
INTO tie control OF few indlrtduas, oens 10 at.
tEnct attention NIL o1er the country. The New
YORK Commercial AdetTtaser thus refers 10 rhe uu
es,iness with which this concentration OF power
+, begtIulpg to be regarded IN come pa.ts Of the
country. II FAYE:
"Etnctnnsii begins TO recognize the power nj
| the railrnah kings OF New fork and phtlAdelohia
who are now conlendng for the trade o1 the West.
She Rlns 10 tscorcr tnat she Is an Interior city.
and uhder fe.tcrs tnat ste cannot shate on. Sue
discovers thns railroads eau control the currents
Of trade and make and unnHke cities, and destto}
The The a!ysu.a9es Which location or xn.er lines may
| templates, With bali 4 shudder, the s,upeudou.
nlo*Tss ns,,sas, SntGs sfe rrosssated sy New fork
saeh os9 2sni,ss is5 fsso2f Il aas o5s1 ns
Wesf. and through 70 the PAc,ac oceau.
| Ttetf plan Il 10 drnin the local trade ol
;Ser man Det, alona sn,eh It w,li De- oouaa ITO 10
toN III swelling streams 10 their own warehouses
quaye anl exchanges. j. 50 happens init 1hs
eide ith the current Of trade thus create1l
"chicaeo, w:sh tho Lakes and her Western rai!.
roads; s.. louss, with the Mississippi ana Mis-.
soutt, VIII not he ea1,ly Bhaken from the 1lrI
sasts they occupy. The Gd:ttte sees all this yerJ
crAr.F, and 70 MAEea errrnr argunent Ia
,ass. e close connection with the Chesapeake
| TIE New Orleans Cs1smeTr47s HufFsfin cnters
'ntu this dleC1tstop. aua Remarks thAt the ques
aul e,en New OIleaus Oh the Gu1f 70 Know how
.asr ard g.aspDK i the stretch Of 20 ser witt
which these ~ at Eastern cdtir. reseh forth to
rnrEctt. md making entirely ne = lines bv com
lnpn:cAt!on. Under their notion, Cincinnati il II
danger OF extinction The Ohio River, as . busy
,ofns snsnns, sa, Of ra Is Ea
painted thip upon paintet ocean," while tht
tltEelttng and Absorbing nrpccsI shows no stgu Of
pause. hut gees on a,eadty into other nerl+ o
l NeSfH&r1 II SRE 1fx