, 1873-09-30
WASHINGTON.
Special Disuatch to The Chicago Tribune.

A 6pECfOuS SCHEME FOR EELlEF.
WASHINGTON, Sept. 20.-Thore is reason to
believe that no substantial Immediate relief to
tho business community has resulted from the
action OF tho New York banks in their plan OF
certifying checks. and In the purchase Of bonds
By tho Government. The direct beneAciarioB OF
these acts are the gamblers in Wall, Broad, and
New streets, and the banks that hold tho cur
rency and certified checks, Such il tue tonor of
letters received here this morning from Now
street. and thoroughly ,conversant with
the at1airs OF that vicinity. Ihoy say
the banks, though olafming only . dosro to
prevent run upon them by tho certifying pro-
cess. gro really enabled to make uso OF largo
amounts Of currency in
1LiEGAL IoANs.
These banks only discount for chosen friends,
among whom are their secret agents or the
agents Of Directors. These agents can get any
derived they 60 into Broad and Wall stroets, and
thero loan tho money at about one-half OF per
cont per day, and sometimes OF greator rates.
Their profits are divided with the
bank as ooqd no legitimate bs, sa
rates, and only the stock and gold spoculators
do pay such usurioun interest. It follows thnt
scarcely any OF tho largo amounts Of currency
hold by tho banka, nor tho proceeds Of sales OF
bonds, goes directly to tho relief Of tho legit-
imato business intereats Of the country. Tho
banks arc relieved from runs and arc permitted
to suspend practically. Tho gold an1 stock
gamblers, and tho shylocks Of Broad street, arc
inols trado and this ia about al that has yet
come OF tho purchase Of Government bonds and
certifying bank checks,
SENATOR MORTON WANTS An EXTRA sEsH1oN.
Senator Morton ia about tho only person Of
prominence who has aB get made known desire
to hayo the President call an extra session Of
Congress-, for tho adoption Of measures intend-
cd to relieve tho country from tho impending
financial crisis. Tho Senator thinks tho crisis
has not been reached, and fears tho worst is
yet to come. He believes that the present calm
IL merely superficial that tho President will
not and cannot do anything further to koop up q
superficial healthy condition Of affairs :; that, it
anything further IL to bo done, Congress- must be
cAlted tDgethor in extra session Immediately,
md that all extra session would surely result III
hastening return to specie payments.
IN OPPOSITION TO THESE VIEWS,
are the opinions of certain prominent officials
as q people, wo hayo cotton too much in the habit
Of expecting Congress to Bettlo all sorts Of qaos-
tions and to do things that belong to tho people
III their individual capacities that even IT Con-
3D. 3D. It would teko abont month to
get the two Houses together, nearly
another would bo consumed In organizing the
House and it's committees. and in going over the
flioting theories. u tie sud nothing batter
than the creation Of q now evil, auch nj tho in
tlation Of tho currency us q temporary relief
from present suffering, would likely bo afforded.
WHAT IL WANTED NOW
ia not Legislative onforcoments, but individual
| confidence not moro paper money, but re-
| turn to a gold basis; not putting of unon
Congress- our existing troubles aud difficulties,
but 4 patiout bearing Of them among ourselves,
and wiHo looking into tholr cauHos, that the
remedy 1nny DO applied and equally unwlBc
COURSES avoided horeafter.
auaionEp FAILURE or THE METRopoIlTAN HANK.
1t Ii reported tonight that tho National Me-
tropoitan Bank, ot this city. has been forced IN
refused to adopt tho plan Of tho New York
banks.
| [Io tho Issocfasel I,re8s1
PANIC T1MEa IN THE rOsT-pFFIOEH.
WARRINGTON, Sept. 2D.-The rofusal Of the
National Datka In Philadelphia to pay drafts up
OH thom III currency having throatonod to do
privo the postal monoy-order Office In that cit,
Of RESOURCES. on whirh It largoly depends for 70
| mittaneoa from country ottlcos, tho Postmaster
was today authorized to draw for q lllnitet
amount on tho Departmental rosorye depositot
| in tho sub-Treasury at New York City. Bimila
embasrasamenta wero foroshadowod by numerous
kilograms from Western Poatmastera OH Batur
day, but they generally report to-day that th