, 1869-04-01

Tbe Til fof lie fediitibuuon 81 the currency, which
rassed the Senate yesterday, II heay TO meet with
strong oProAton sct bcto.r II can become iAw,
aide fsnm tho opposition Of the Eastern .st4tcA the
mode Of ACQUIRING better distribution BY Of
,esrase Of the National Rank circulation. and the with
trawal of corresponding amount Of srecnhseka Il be-
cunning more popular
There Increasing e7tdcuee that the dca Is eouttnu
sly ginning ground that the National Blnkz ought
and Wilt be, the means Of getting back 10 spcc4t pay
rneats without any fczious shock to The busloess In
programme Il To Increase the National Bank
circulation md dccrrase the Errnhaek circulation In
nrs1y. not exactly. the ratIu Every National
Bank re@uizvd to rcdecu ts circulating notes.
it, own counter 1t par In lawful money. Their at two
kiuds Of lax tu1 money, SecnbAeks and Specie, md
the National Banks have not the grecnback1 to meet my
demand that might a1rc Tor the redemption Of thcir cir
tlatfne nocs presentation A their countcTs they
a.t rhr1 rar rar In snd tubit to the only other
under the law viz Go Into liquidation md al
low their b,nds Deposited 10 circulation to Be
sold In Nrw York to redeem their pot.4 A. long
there arr S--6,omun of EyreDbAcks out, aud only
$500 ono Of NAtionA Bank notes there Of courpe
no presentations u National Bank notes for redemption
In e1eenbAck1. bccause there Il no advantage to the
holdes Of the National Hank note In The exchange But
suppoee the proportion chAn6cd. ~ to hare only
1Aoooeon d ereenbatka, and 5o 10000 Of National
Bank In lersate circulation Of Ss6 coo the
(no counting fractouals and Ter cents for
the present., Though tho 1oaop Of srecubaeks would
b. morc than equal to tho amount that the banks md
knG 1fGAklIY IGEcLGC4 LOW kECp III N
plain that the bauks would not be abte to keep their
rperrea Ia S1rcnbacka The chance that they NAs not
have tho &rrenbaeks on hand 70 PAY with. and
that they nisA consequently have to pay gold
instead would tate presentations Of their owu bills II
their OWE counter7 and keep large Percentage of tho
s711nbaeks constantly drawn out and Ia circulation,
This alone would obIse the National Bsnks to provide
rAtt Of theit rctczvra Id would PCT green
backs On par with eptic and bring the latter Into cir
eul.ston- The banks would Of eoalse not be able to
stand the ttsetn Of great change at oucc but the
case supposed to Illustrate how such
urc - Senator Wilson's amendment to Senator Bher
mans Cu1ency bill proposing to increase the National
Bank edrculatioo Fifty millions, and to withdraw the
tamc amount Of gTcenbArkA and also the
plan Fusststcd hy tho Comptroller Of The
Currtnry to the Banking and Currency Committee
Of the House yesterday for doing tho shns-azc
s:e,s In tho wsy tGtrcce resumption wei strrs In
the a5 Of neccssAly rrfnr1 In the Erdtethution Of
the cu7rncy that the Wcst and South shall have
circulation commensurate with their banking carI
til and business The plan ol the Comptroller OF tho
Currrncy for betannS this change IN the rrorot{ons Of
srv~ohAck to National Bank currency. md which uas
prevented to The Houtc Committee Baking ycater
day. Involves tome important md complex question:
hat doss far be fore-ecn, contain any
lnfirmonptable ob}ectcnA II would take up II thrif
rrcsens market vt1uc tv1- premium ranging frpm6 to
l. rrr cent? the e3 Ao Of bond1 noHh held security
for the nearly 1u0.oo Of National Bank notes In
circulation. and II would dive to The National Bank.
who there bonds s. ntons of Ter eent bonds Al
pa. In their ttrad thus inercaanS the principal o! The
drbt them, sAy xI. bat At aatinx Of Interest
hch In sixteen ytars would e1tinsuIsh ths inees&<
of the prinetpa and the new Fer cent bonas ~uulc
have thirty ycAs to the sAvins In the whols tint
would he tuG 70 double the prraent inefeaso Of ths
| principal In The exchange 1t would alro afford thl
neAns q retiring aaooonoo 81 srcenbaeks 10 be sc
placed hy $4,000 Of additional National Bank cises
las1nn, which would bo eecused b5 tho additions
ssnnoo If new PEI cents, to be included In the as
gate u tz3:- -son ooo contemplated 70 be tssued
Below arc the closing auot1iions for goyernmcn
bopt4 ln New York today, compared with those Of ycr
tcras md with tbosc Of The corresponding day Of lz