, 1870-02-04

Secretary Of tho Treasury Tor she soLe OF waot Of
eonodetce, indirect. It !s t1ue. yet R:rong aud
suiesun dec.arnt,oD. The ceurie Of exchange
p1oses, ho~eser, that the fets O Europeaa bond
s 10 ns!a o. @ oe'5H PEP PAID on In depreclated paper
INN IA sss conscen,ioasuess Of t1s
United statea VI. Boutwell, will not allure tue
AID lust as little by the assurance that the nes
oh'tkaf,aEs shall be sabiecs 10 10 diuinutio1 Of
anytoll for This also bi.u.s 10 new adraat1xe,
since II already nolos goo1 for tho nve-swen-
les4
The most natural ana c.editable way to hr1uE
the cleoltota to accept lower rata OF interest
az In tue face Of the present a:andpoi1t Of xps
PCT cents, Which, besit,e, hare 70 % 1tkh1 o1 10
!esl 70 lss. respectively, tho discount would nAvs
hardly declare themselves ready Tor Id exchsnre
tnless about 10 OF the ~ ger cant b3nds we're
onetcd them for OF tneI present per cen.
hotda which 1oT rafse IN Price between 81 and
The Secretary Of The T7essnsy has nowere,, 10
more ideA o. maktIR such cooce,s. a. this
q cts,nx oas a. eIpeditton s-aiuss tae ~: ser
heLI. He be 1svet, rathI, hat he can fEl.htsn
,he botoho,aers oattf the: rlta bJ The simple
threat: Either hccept the new pape- besrin1
lower lnierta! or !sse yo0F Iooney b1ck:" Tam
piAksl held al tho breest W. NOT caus, those ~
o. % WE
handel over TO them ior the:f n1neiJ-o1d-or,
pcfhaps, Tor the ntiJ which was al they originally
pald-aEd ihen turn tneiz Increased csps4l 70
that the great mass Of the 1srnku creditors
Of she Anciicsn natiors II they mast pnt %
Pef Sea "" P1sls e os ;s
IRON the many otneE ways EOS open iu- the nro,
liable investment OF capital II the SECRETARY Of
cspabllity AID good 1alth OF the Aref.can m ,p Z
TO %! tnsu dtbts sufca 10 Justify The a.su upIop
tsat the bends Of the United States viii con1and
the highest prices IN the marsets Of The world,
then IL lhis error, tbts ael-drcept!oo OF FsnsSce
Minister scarcely 10 be psr1oeed, unless he melas
10 attain that hishesI rrce b. right hish rate ol
Something, bo7eve1, the Mints;e. will ta..ced
grant NO 1eEate allowance for the subscribers
TO jadee non all the Indications, ta,s conp.n.
sauon ID meant TO play ZONE shat a,cltlat paft 70
t1e premium CT PEI cent offered by Mr.. Camp.
hansen Sc, to ne eonrsftesr Thst L Is 70 be 5ss
that By this allowance It Ia only Intended 70
avo:d the necessity OF employing anec!al agents
so5 ne exchange Of the losn.
ialte kuppos!uon. ubon a f1ldxmeutAi error
Eh!ch runs ike q ret thread through tne ent,gc
hontEeA fa,a; scheme: saat soe nse-1weuty ,oan in
nousea ard saecuiators II ihis .eIs 40 ia caus
seEaion would not to 20 drnoalt, aince sncn
coumtsaion. would n1ake use Of cou5ets,on a.
good opportunity. On the coursary, 10 EeYnr.
o. o. .ss me g;el pttt Of tue !oau Is ID tac hands
o. oi efefS Rta1e, down 10 the lalICrs
md gloveEskete--ln hands who wish 10 draw
sure interest," which II al The same time ths hixh-
eet possible They cAn n.Ake iugeAtmept2 sSte
and pc1nauelt t1st ns val, IN tbs rAuoral dehr
Of tne1r own tatneflAnd. In which, tco, thay
usually have greater confidence, taan in tne
oeean<diEtAtk ard often very unrestiei cn1atlcs
OF tac New World: should the high interest ran,
no itduceuent wo1!d remain for the acqqiAuun
OF American parer.
Boutwell, may rest ass7red tnas 10. more taan
naM Of the ohlIgAtsonA to be liquhlAted, demapas
1or payment will be held Cut TO htm frpu Gc:-
fDAny ard England, and We do not pelleSo tnar
tne Chlted States. IN spite OF thetr enormous In.
come, can prtducs readY caah resources TO uuder.
take euch M exs'rRulshEent OF deot. 4 yprte
nost profound peace than IVES threAtened
H8r8- 1t ~-@
One rttuge the Finance Minister FILL nuds: he
WI! compel the National Bsnks to e1chauge for
the new loan their nve-1wenty bonds nov dc.
potited II security; he viii, without fuvtner IN
semuity. take from them per cent bonds nud
lmroee per cents upon them. II they decline
Eoeetess snall withdraw the charters Of Tho n1nIs
that teEuse- .-'s'@
Thetc National Hants were called into life At
the dhe OF tho etTerest cttx.s Of the was. b.
mctnt Of ctrAin fAvDrI, IN order to prucufn CIR.
cutaaon lot deprecated paper money, and for tnIs
6ettce fet otted 10 tie fAtne:land the setIe1aty
al on thrlnstift4 to be plu1dered- The cry "Your
Hos et or Jour life - could hardly ing out norn
ces1H fzon the mouth Of 4 professional high way
fonneI. C0nRreAs viii scarcely come INTO com
p.'cs5 WIN such psopos!tlor. even though many
National Bank
Our astrunonefs observe at preteut an unusaA
Eumcer OF fpois upon the suFihc. OF TIE sun; but
1t would s<eE lh4s Congress stor'd d'ttc, It's
eyes rptn tho boutwell, prns so.ti.3n. 1t would be
the disk which ia 10 pour 20 acste.b'c 4 nood OF
light over the UpaLCes Of the Ctfted StatHs