New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-01-25
ady today at tho following

correspondent of The Commercial CBostonl Buikhn
writes:
Senator Sumner in his recent speech in Congress says
" The bonds deposited by the National banks With me
Government must be reduced in the rate Of interest"
To accomplish this purpose he proposes 70 require Of
them the surrender OF six per cent bonds OF which they
are the rghtlul and lawful owners fOT bonds drawing
only four per cent interest the " y o0ds hed ~ ne
banks are ne property 81 NE sockhoders ana the Gov
eruent has no claim upon them of any name or nature
excepting only so far as they may De security TOT eeu
We confess our surprise this position OF Mr. sumner
when we read his speech and thought it wrong. Tho
may the bonds held by the banks outh
would be great injustice TO compel the banks because
It has the power to give upa boyd bearing six per cent
interest and take bearing only four Let us suppose
that Mr. Boutwell, holds Mr.. Summers note payable at
any time after five and within 20 years bearing 1 per
cent interest. Mr. Sumner goes 10 Mr.. Boutwell,, and
says You have my note for $4,000 with interest az sf
per cent payable semiannualy and tho principal pay
able at any time wlthi2o years. find that must re-
duce my expenses OF living reduce the interest on my
paper that IS out you must give up the six per cent
note and take this bearing only four cent inter
est; this will put my pocket $500 year" What wouo
Mr.. Boutwell, say at the proposition OF MI
sumnerl We cannot afford, as nation, TO be dishonest
Let keep faith in bonds and az 10 the National
banks the amount they in Exchange every year 70
the business men OF the country, counts up 20 millions
few years ago could draw his check and MI ma
pockets with bank notes. leave in train In the morning
and at night not be able 10 pay for his supper with the
notes he drew from the bank u hours before NOV" the
note OF Naanal bank is good in Portland Maine and
Portland, Oregon. We no longer see advertisements
Notes Of broken banks bought here Notes OF Wis
cons!n banks wanted discount Of 90 70 per cent
The National bank. have put end to this Bind Obj
ness never we trust TO be revived Let the Govern
ment deal honestly with the people who own the stock OF
the National banks well with all who hold ts honda
The earnings Of the chicago and Northwestern Raj.
road during the third week in January were;
1859 s2l662 70 1870 $1,000 90 Decrease eSsen
The folio wing additional dividends have been declared
Republic Insurance Company (seml annual . per osnt
Atlantic and g. w. Pet Company (qusrieryllo per cent
The venerable Bishop McIlvain OF Ohio visited the
Long Room of the New-York stock Exchange and the
Gold Room this afternoon.
Messrs Jay Cooke Co, under arrangements with the
Northern Pacific Railway, have become It's nDaneis'
agents
We would call the particular attention OF capitalists
and others 10 the advertisement Of Messrs George or
dyke & Co. In this mornings paper, headed prime
security at low price" First mortgage conVerhDe
bonds Of the St. Louis and South Eastern Railway OF III
nots" This road is now in Of construction aud
tho route from the City Of 81 Louis to the CITY OF
shane on the Ohio River Length Of road, lS
miles, through fertile and productive region Of vhest
and coal IN abundance The issue OF bonds only $4,000
mile.
The total number OF OF freight forwarded during
three wears on the Great Western Railway Of Canada
mas Deen: 1851, soIloo tuns iooo '"''A'0t '"7'
sl7s tuns an increase in three years Of 1860 uns The
increase of tuns from Windsor opposite Detroit; is 7I0
New-York must cultivate the West.
From The Iron Trade Circular london we learn that The
traffic receipts railways in the United Kingdom for tho
week ending amounted, 1856 miles TO f7s2s6s
and the corresponding week In 1862 on 1890 miles, I"
s6se40s showing an increase OF l56 miles, and Of
e3596s On several Of the leading railways the receipts
for goods were for the week. aS9S and for passenger
parcels &c, f2S761 This shows that IN Great Br'anr
as here, freights yield the most money to railways
TABLE Of the Average Amount OF Loans Specie. CTeaa
ton, Deposits, Legal Tenders IA he Banks o. ne
CITY or Neu- York Jor the reek ending saturday. jan
%, 1870