New-York tribune., 1874-11-28

,y......, A.. ,o--n-o. ,,o- IN roduced ot rho
pleasure OF the banks If the value OF the paper
dollar be determined by the amount OF such
mouey in circulation than the national bank ], more
outstanding secured hy deposit OF more than
s3s5 900 900 OF United States bonds which at pre-
MUM OF more than 2 per cert the United States bonds
he not of sncient yalue TO nav the notes the capital
and snrplms Of tho hanks anonntiny 70 sG2 OO0 as
we'll "a their en,ira assets are available for
that purpose The Stockholders are as ndi-
yiduals liable for the fall amount of their stock.
in addition to the amount invested In
such shares and the United States guarantees the final
payment of the notes. There are then absolute assets
for than three times the amount OF the Na'l0nal
Bank outstanding available for the redemption OF
these notes and in addition the contingent liability Of
the sharehOlders and the guarantee CT their nnal
navment bv tbe limited States It IL certain.
Therefore that the demend for legaender notes in
SoS tS tbS gorner are moro valuable than the
National Bank notes for lesSi-tender notes Tor
the purpose OF ,ohtanipg a legal tender for the
change the notes OF other for legaender notes
either because, under the LegaTeuder act the notes
pose obtaining new notes place OF those which are
soiled and mutiated
y sa desire n c notes fGr notes tns
readily bo obtained IN an5 reasonable amount with
located IN the several cities and villages Of the Union
ruv prnp,,rr,ov o,, y,r,ovup,SK NOTES.
The act OF June 90 1874, which provides for the re-
demption of National bank notes with legalteuder notes
at the treasury a!sO reauces Tue amount o ics"'''
required for the OF the banks more than
soo ooo ooo or obout onax or the entire amount SO
e., ,o a. 49, o,,, =, ro,o, Tan
requreu. ~ aiso n3es tn" n ao' g e.. ~ 600 "a Tne
Ger hotes az SJ5@WJOJl an creiso Vt S-0o5''o'
IUr ~ mo, oct iargeIy re-
od uHaer oe Vier'om VI e ne snnnly ia
i, uuveu, "ho % ~ tne Slio Ntnopo ino bsnE notes
, @ 1io VI ,nora.arc "bcng do
IrN IGr new n9e5 az o ~ Ifny s n TSe
0oi ~ -, I'M " n IA i air vans 5nTn, the last
five Years ahaut onethlrd the entire amount OF legal
tender notes ssed While the Whole issue Of National
Tnn notes s oce a1 o m ener notes had
heen nse or nor IN actvo cirrnation the entire
91ncfn nf cnTrenn T,ese notes have heretofore be.
co,ns worn nnt and innttIofed so that the subst
tVtIon ~ ncy pSfHs thereior has become necessary
There are now IN circulation more than 1000 diff rent
kind. or notes fsacd by 200 National banks amount
s ton - Of T. all fho 1Iks are 80 nearly alike that
9 poGao' oi S''OsnS fNa ia vonp
IG DuLEeh'Unq Hau tAPrms"Jb bonto Of tba com
ArIy uhueft'Acn Oy .he DanAs =, ae , tne ,tsniv
nercIal ceh'.r' me a:i Oi luo % - t%
pa0gdiSs Or 1ne @ oa , umg ~, be a the e1
pensc OF transpofttIoh ana assorns 10 10 ' & to hn
pehse Oh lne DinK, Ine cnlel oJeCL VI to Ia" r
pun PuiinC"oh ~ y. 'Ac v'io,i W ~ tot .io 80 r@- ~ ~
'U1 % l ui pt"li n 7e ~ " nror & snpaa innlas the
oxehannP or IN nroniii.cl m INV Tor the
,hi", hn0ronoisod papmelr. coIp or its reure.
srnt37tive which a. convertible into coin
demand. The effect Of such redemption Is to conhne
eanhs OF issue 20 leg.ts business WHICH Is 'n0 us
Thc TreosnTer on th 5jh Of June last Issued ercr.
lar 10 the National banks requesting them to deposit
I'VE per cent O theIr lreatiO VIII VIII III nuii ' ~ & -
AuglIst nearly the wgoe amount sl652i583, had
been received at which time the banks had VITA butte
treasurer Some delay occurred In the office OF the rea-
the outset account OF lack OF force ana tue
1Iiculty of asserting; but tue work OF purifying the
rrranc ia noy IN .ccas .lIl uneT1tiln aul since the
IL, ,at o,n nf mn n tod notes
pASoi va ,lo az '''''--, -.
nave Oten dcHVcteu W tue lIesutel " 'hc NVPAV9A
for destruction. .,
Circulars have been issued to all the National banks
re sting them TO designate the denomination or the
notes be issued in plnce Of tho notes destroyed,
which new notes are promptly Transmitted to
tbe hanks Immediately upon receiving notice
-, ,ha 1rraos,,ror tnat ha has been
lioIh eIo o., .,n,,nt raJoap,o1 "a renntred
I - 20 , H. ~. d1rnar navt year nbout
Dy law aLd II IS pIootoie IuI uuiIhS htAt !cl @pye
Sl20 600 Will be delivered 10 tls ONCE IOf le sdo
uurpo3e aud new notes issued therefor. Tne re-
demntion or mora properly the exchange OF .mu
tiIafiJ Satiup1I Honk mates for new issues will
,I 40 ,,o,nts nn,u Tho NItona
III 10 ~, ~ ,it ifor circ,lstion
Danh noSeS sn VA Iye ~, ,oHh ,i M denend almost
, Tue ""nn no Sainand t6r i.gli.tenIer notes
10 ~ NtinnaI hanks as "a reserve which demand.
~ ~ re heen s@en has bcrn largely reduced by the
@ o1 tbe Tno nav no1o, are being issued
XII Tho charf.r nurbnr cOusDicuOusy priuiei upon
ter, ia t-n niasas r,alc1 will hereafter greatly SIM
Ill a. S en- tha lanor NJ sortinp Them In the course
r. t Sn"n ,aa,s ~ ortire yoinn of NfinnaI hank
Vi auout ~ 49, G hn rnarod atTor which II the
hotes Mlt & NV pn , ~ III H bca5 q trne etstar1