, 1870-04-05

l ~ nAO..S 1laL4 4ft1t2 1kllt ,
| any distinction lttwecn tho cra!i.,r ot ii.
| goFe7 uent who ho d its bonds. N Is nt
/ orc e1cusab than il the Eore1,1m mt shouId
aHIoci-ce hpe, ie payments On al Tx, grrea-
n;cSs except tho = held BY tho National links.
~ NAuonA DaIklng system Is admitted bs
~ ~ ttIhanshuni people 70 be the beat system
euAA uAs ever o4ea devised; the safest to the
noteEolde1, becAuer, in addition to the ohlisa-
nen 70 redeem II 1aEful manev It the bank
counters, aad Ut Srw York. the banks depoAlt
N.eo ua 6csefnnent securities that are worth
apIo ~ the market th2u tho aggregate
o AsH Eotce, and the securities u sny bank
MAy Ie sold u the mAc1At an4 TIC proceeds
s[1'net 10 the liquidation Of the aotea upon
"! INC psutest foE Lon-paymen. OF . single one OF
ita notes The periodical reports Of the banks
70 1ne eonItrullrr Of the currency also 8iye
M Le oei'tt:sora oppo.tunih II for Investigating
tae tne coIthlon of the banls which have never
oeen aHc' usi ni4der any other syHtem- Bat it
Is not 10 be c1pectel tAa. capitalists viii sub
Eit % tLte requirements Il they are to be leg
tedaG LIN. rs class. It il not necessary 10
count up whether they could make IS much By
Gennhtlng business ~ National banks or not.
y tney re to be considered clais, with whom
the government ~ debtor may make hA.lar
terms than it does with other creditors, \
Algo proportion Of them would A1sa,1-
onn the system, and the consequent
contraction Of the currency and commercial
e. sl'sts s; socld follow There Is, however, va:
NC 13Ah4A2 interest may pa m11e "
seise II funding tie debt At ~ per cent, WITH
ous sn1 eoerciHe measures. Lat Congress au-
tho1lxA the SECRETARY Of the Treasury TO issae
tay, sI+0o Oou, OO0 Of ~ per cant " banking
eoEda, At par for greenbacks OF gold, AMI
.sfue W per cent OF circulation on these, rnaA-
!ns hanktng free. and eanceling al e1eenb.cks
ihnt ~tEe thus paid in for bonds. II National
banning y At Profitable as many Of The advo-
cates OF tue Funding bill profess to believe, We
m!eut expect An inc1ease Of National BAnka on
ans "a Il. When el:0, 600 900 Of the greenbteks
Ead thus been funded into banking bonds" :"
!heie Would only be seo6, 900 600 Of gTecnbscks
N existence. md as this would be only about
two-this.ls Of what would 10 required for Is
ler cent teseEve against deposits in the Ea-
tional hanks, and the S45O. 10000 Of
National DAnk circulation (M thsre
would then be), greenbscla would bs
a,a a. e. ~ VIII gold, and any more Of the bonas
gold: Now, il = ~ per cent bond can Be sold
At al at par for Gold, it could be done under
theee ci1cumatzncca- The sAla Of these would
eventually furnish the gold with which to re-
deem the 5-aus, the 6ye-year option Oh the
gEGsteF PORTION Of which las DOW matu1ed, and
viii mature on he whole within three years-
Those held Gy the banks would be paid on the
SAME ~ those held by other creditors fi.ey
would be banking on ~ per cent bonls, aud
We aloud bo on specie basis-
Elhioers and fiuAnces, botL in this and other
k1o4 N4E AtA4 kA dfSl. HOuNy - easy QE-
cause trade is stagnant. Deposits Aze sccutuu-
lating in the banks because people ire afraid
to venture into Legitimate commercial enter
prises, and the accumulation Of idle money
nerycs no purpose, but will probably stimulate
Wall STREET speculation befofe long, Just rs
nant Season Of midsummer. Approved
borrowcrs find no difficulty IN getting whit
they ask for at 10 per cent. And some OF our
city banks, which have share OF the deposits
Of the City Treasurer, are In want OF mose
irst-class paper than is offered. !,
Exchange continues scarce At about T5c par
s1, ,000 premium, md some Of the banks con
exchange, And to place their balances where
they can get Honae interest On them. Al the
counter, bankers sell New York funds at Lilo
premium, and buy At par.
The election of ofhcers OF tho Board ot
Trade, to-day, intesfered with business to some
extent It WIS recognized that in view Of the
position Of the railroad and elevator ccmbina-
tiou, which now monopolizes the grain trade Of
the city, and ignores the rights Of Individuals II
veil az the general good, this election WAS one
Of far more Importance than usual. The StAte
Con. ention las given Ao evidence yet that il
railroads, aud. 30 far Al local interests are con
ceEned, tie only organization 10 which the pub
| lie look to make any head ngainst them IL tht
Dohra Of Trade. The railroad and elevate
| combination recognize this fact, and there hi
been IN immense deal OF loe-rolling and strat
egy to-tlas in the election Tlls may be est
mated from the fact that, while tho whole vot'
| poNcd will probably be only about nins hun
dred, there have been about l20, 600 ticket
| printed, with every conceivable arEangemen
Of names Of candidates. Ono printing frn
l printed &, 600 tickets
The members Of the Stock Board being ais
largely interested in the Board Of Trade e1ec
ton, no session Of the Stock Board was he'll
to-<'ay.
The following are dea1ers' quotations ia
selling and buying government bonds and 1oca
sttcks in this market this afternoon, ~ re
| ported By c. L. Boyd: