, 1869-03-20
FINANCIAL AND CON MEKClAL,
MONETARY,

... FRtDAr EvKs1x9, NArch 10.
Tie LII aurplsnt ut21J 70 the National Currcnc.
act providing 10: redistribution OF the ca,rercy
On m equitable tasis, VIA up In tic Eenl,e as.In
5estcrdsS. The Eeee4s II fer the p>tsase Of auch
IN sct has bcrn nadn rurlessant1y evident TO
tatkest throughout rec West, who h4vs nccu OF.
CsristrR lew Sa'touat Bl1ks for several yeass
psst ard tave b eu nnaho to set any ctsrahucn
except tuch OF the ll:lls Of failed National Banks
II faeJ could buy up At 3 srd PCT cent premium.
Tie natrt fact 1hA, tToken hsnk bills commanded
4 premium nstf those ei to:yent GEES cuFht to be
etnv1retrE proof that tncft IL something forced
and urnAtura1 In connection with she adm1uiskra-
tcn cf tic Law. Wti'e Western bankers
have been unse.s to get my circulation except
The 1usfgnldesn. tuna tcey NAY have been a-so
to try up IN this wsy, Eastern ha1ks had ncse
thsn they cared Tor, and bare In eome lnsanse.
taken their spporuonnncnis Of currency cnly to
keep control Of tatm. TIE Nav York Hantnp
Fbst mentioned lately toNe instances Ct Nat,otfl
Il that city that have received their quotas
O eu1eney pm! II II to thEif vsuitr, have Lever
issued 1t. and in tone itstacee. haze ros rssn
broken tho ocEral packages. THIS policy 60:
oily helps 10 munopol1re the bank notc c.rcnls.
uor, bns tte tJttera ct certifying checks ha. 70
cersa1n ex1ert aubstiluttd Temporary currency
Of chetse IN Its Place which II conplc.ety IN tho
control fste banks and Eiv:s them srea'er 2a1-
1ro1 OF the money market, in that city thx7 tfthe
bank rotrs wefe paid out roe ct,cuIalon of
NAtion.t B.1ks IL limited b. the cuIret r. att to
$s.0, 90 COZ; one ha'T Of which Is &ppoEih ned hy
the Comptroller Of the Cartr,cy 70 ta-ks In
::ats Trssttcs,ee nd tie Distrcs Of Columbia &c,
erIdt1g to representative population. md the
1ernA,t der ~ TIC seeretssy Of the rsetsut5. hsy
1R tna rs9l.d fos the eItttirg barstnx eapita1,
re.pu.cre ind busincfe Of eueh state. Ds:ftcs and
Tcr!tcsY Even II 4 fais distribution Of
Tho Circulation hid tecu made 1ldes
t.as Law, lie portions a'ttEncd to Wcstcsn siates
would fa7c been iItdcquate on ihe hasis OF the
rseseEt population. bust ces Atd hat lt1F esptta!
nt be Wcst. :cr all Of thc.c tsye it1esasd au.h
: 1ss''f IN Wett4rn ttan IN EtsSetn ttasss. Bat
even en- tfc ea.:t len established fsir dietr1hu-
III ~as nct usae. When the apport ior naent I'D
'eea Hsat - siatts. *uTp.' n ntIJ act VA
lHttd which e1 Abled all sttsa tsuka to 1t oace
tfsnsEufe 'hecte:Ees. without eaanse OF olga H.
zsttop, Tito National BaLEf, ard ty teocst,irc
holds. tccu.e N.ttora! Bark circulation. The
Wet had recrr'Iy rtssed through = cr'elt, It's
State Ear Ks hrd tatIod bu*a'e.s x4s IN tho andR
osp7.yase b8tktrf, ar before teesr could p.ka2-
11c thentclves icto National Bl1ks the srekter
ps,t eI the cl1culatton vas Appropriated By Rast-
c1n banks unttf tbs supplementary
Act. The following table, which was 1ur.,.hed
BY tho Conptrol}er. at the rcqut.t Of 4
member o! ccu7.e.s eho "a the appo;uoan +zt ~
II WA made, but the actual results Ut tie d:.,1-
bnif-n were Nidtly dtGeren. from Whist ~a1 ,on.
hu upa.d IN the sppo1tlonuent, a. will be teen
by tie eo1uuu seo1ins the &c nal circulation
each Of tie stalea In 1865: