, 1870-06-23
MONETARY AND COMMERCIAL,
MONETARY.

MUNEIAR4.
WEDNESDAY EVENING, June %.
The cyphering and resulting conclusions
eome OF our New York contemporaries III col
nechon with the proposed S95, ,O0O,Go9 Gu
Tency bill, are certainly wonderful, though M
past finding out. Here il a sample Of It fro!
the New York World, which has suddanl
come to the conclusion that the proposed il
crease of So5.O00, 900 Of National Bank note
is vast scheme Of inaation, which posltio
the World proceeds to illustrate by the css
! Of some imaginary Jones and his soa, VII
| conclude to start a National Bank, but not be
| Ing possessed Of any amount Of capital, at
enabled by the proposed Currency bill to star
when started, Jones or his son becomes Pres
nent of 80 900 bank, with 81, 900 National Ban
,.s no1es seslfea ~ tne deposit o1 S5oouo govern
NV Y"1S tt notoMea trf, @ iop tae occasion 1Evn
bonds hesias ha,Msn M.tu - PAU taE psace o. n
cocs out Of tie dcposts mIe n In han w ma1G "
connding citizens IN The ncIEhborhooI. The ban nj
notes, Of course, never come in for redemption
Joncs peTe Ct ~, and their friends, then bank Of
~ uGposltoss moneS, when amounts general
~ rat tau .as eapila Iae Sauonal bank nay
Nsw fUrk and oter iayc s,ea y ua ~ ts5 wy u
much As nossihIc. n ordrr 10 1nstc n n
much as possible. The coliatesals for suci loan
are not generally scrutinizcd very closely. Pr
sonal credits, luaorsed notes, speculative stockp
!anu mo5tsaEes unstable bonds and other secu
;nS,i.,tna! ususe la1Ee'S Ill 'ae asScts OF suci
N,,w tl,;s raada nal, r., , sonso,i,n,1 .
paner view of ~ tfo Ease " bnt tiara ~nn,d 1--WE WI
ceesariy, be Listus IN tho @ nTactcal J"t' nncro
tipns Of tho 1mapinary Joncsea which The Il IlorI
does not condescond 10 not;cn " t1,,t =, ,ta =
1os;fs ara nlznts ~ aIow 1891 crnx.1, n,d Ia aon1 n
not be ayaia1a nj onre M asan1ned 3D. 1s wone the
Uorld New h,nts naturs1iv danand ~ er.t s
unnn t,,o;r st,cl1n1lo~s ~ ;s.,i,.;t, 49, 81
tbese stoclbo1ler1 mnst necesssRy f. ta1, 1nu " y.
some can;, Al hsfo-. tho1 a,niJ 49, ~ 1.sn ~ "
nost aid ~ ths W,ton,1 rrrnno naop slus ~
1aen 0s ANU as ne nh Genes Aes hods
Tier stncl Il Won he ~ ;,,roas ing ~ iano
me- ri fi.Stn na~ 49, D1 c au ~ "paes ~
III. A. Toonfata r,ar, 1,,,ia,a W. =,
theiT fr;en5a I.I % ~ aarna;1o, e 'neS nna ana
a1nount ~ 1oouer thnneo1ras an,1 i, - =; =
cases mt ri tan 4 vonId ha . ,oar Lofnr, ~ :,
from ofhnr sources ti,., tha od;sta fr;o-,1.
aud stockholders Of tha h.nE II tj,e 1aan'
tlme. gomrbodv's canital r. TIN amonnt or ssant
S11 iiO must h locEetI mr. in fha lifYaranco ~
tween the ma,Eet yslue of fbe bonds md tha
amount Of circulatinc notes that have been re- re-
ceived, Whose cnnitai ia tins r. Gnnrr an,
his friends Lad none. Al tha 1VorId as.nnas
It must be fnr1siea % hy I 1hs m necnnnsnd.t;os, nu
New York {rioud. to whom has been maid ora1
the s45. 900 Of circulating notes receivoi IN
part payment of his Io.n ny ths honI. In tb;s
case. and Is lar as tha cnrrancr nnd its sccnritv
are copcerned. tLe New Yor, frienf ia fhe hanI
Jones and his other friends derive no I,oneiit
from it. and. in short. have nothing In 5n viii,
it, except that they ara ohjired br nv IN t,nId
IL per can't reserTc arsinst p Inras anl l;s
stockholders wonld hov. m mora nrnort1,n;tv
for ba1L;nr IN otI,cr ncnn1n'a mona! than Il
thew ,statted IA nr;yate hankeTs in which
case The jncrcase nf denos;ts would ,lenenI on
tireIy upon their knowI7 Ella, sctcr for we,ith
and INTEGRITY IN sho,t II uon1d aar,ar,, ,-n-
the comfacna, Of fho bnssness n~h;;c ,an{;.
dence Uhici, il the whn,e snrrat and s1nnoet % ~
hsnEin1 nn5ar s1v arsto,n uhutha- Het;n,.i
or STATE. md Nit6onf wh;cl, Tantinr IL ;mnos.
s;hia 4ha ~. as,,lE 40
this eonf,de1,co 81 thS h,s;ness 1 n,,;i,c Ia
wonId pat thc;r danos;ts Thotnori,fs ta,,i. ,r.s ~
1s.;nr r. ~ ., uepos't1, @ pank "as
r.refv e,ch cnnenmm,ta 10000 40 -, n;.a 49,
dsnns;t ;nto tla - 10 1 .hsu
aefeIa .xnnla not ~ 4i,;a
ria mn,or ,,ri.n4 I.a ~ ia1.1. souso m;s,
ctn.t;o.. .yho-o = a.S. nao a. ~
~ or1r ~ ,,s;naa Me os, ~ ealea
nd y,;s1op s M ;p " spseaa.uis " - s.nlu
haze nns s,,o,,nts Iua ~ sasat ~ Eau u ssoso
- ,,a.ri. th-a" :. Ps1sns aaaAes pt.ESs,
arnn.,,. yn1 To-! aipn ooilate lnore tnAn II roe
sT,onnt ;nrasta n ~ s,,no isat @
Eav ha,d +, sto-, horn Spon ae.o.;a ~ ru.s
pecase IN tbu % tsx T. from tn To tSrae o. MI
lions Of dollars moro @ thsn WAS @ IL invested e I IN
smonnf Of ' csn;tai ;nro.tei 4 sna"n,son
s1ons "a ami r. ~, o.n;.s1 su ~ III ,psat;a; spuou
hsnIs in tfe citT .na + IL n1e;, thst ~ -,o.a.
Of the hanks ari the;r de,ns;Iors IL ~ uy yoUy
iarce e1tenf. inctef1 ~, n tho.a ttr 1;,sa ~ ~
specniation' Wh;skeT has hee, mi n;'eS at 1,s, ~
insuTance compan,es tasvn fonnf K nccess,rv v
to increase he rates OF insu9anca % on % nar.icn.
lar wsrehouses on on Il that T acsonnt NJ ang ~ ,V;s.t
and corn are he;np heaned m fr1no rasL ~