RATES OF ADVERTISING.
u n ps oe leapennutitntNhalfangnarP. Eight linen
m ore tlrta folr, cr.ngtitut.• a square.
- jOlvt ,Ine day ----- ef)
- " eve ',meet... 1.1 00
• • out , .. h 15 00
'L)TI ; t , I hrpo rf,tailfllo 00
fELX 00 e.xi; month.. 15 00
g one y0ax.....11: 0 , ./ L , year —2O 00
gq. ; 011 P
4 (WI! PN:C.II
Stsr Hominess rr.ltifxr. inserted in t!v? LOCAL commix,
r- before marriages and deaths. "tot ONNTS YEN LINZ for
act Desertion. merchants and others advertising
year, note-st ttrcum Will re offered.
1 ". an. o.auwer 01 Insertions raustbe designated on
amrertleement.
I:l — Marriages and Deaths will be inserted at the SPn,
rates as regular advertisements.
Business tubs.
D R. j. C. ROYER,
D] ZT wiE• . ,
OFFICE IN WYETH'S BUILDING,
111 room formerly occupied by Dr. Carman,
CORNIIII OF 'MARKET STRERT AND 'MARKET MARS.
sepi
0 V D. yirAILTER'S,
.
CLOCK MAKER, CLEANER AND REPAIRER,
NORTH STREET, EAST OF THE CAPITAL.
ALL WORE GUARANTEED,
Sep 26-d6m
M. H. MILLER,
era
R. E. FERGUSON,
ATTORNEYS AT LAW.
OPPICE IN
SHOEMAKER'S BUILDINGS
SECOND STREET,
BETWEEN WALNUT and MARKET SQUARE,
ap-20w&d. Nearly opposite the Buehler Home.
ROBERT SNODGII,ASS,
ATTORNEY AT LAW,
Office North Third street, third door above Mar
ket, Harrisburg, Pa.
H. B.—Pennion, Bounty and blilitary claims of all
kinds prosecuted and collected.
Refer to Hons. John C. Kunkel, Davidldnroina, jr.,
and R. A. Lambert..n.. znyll-d&w6tn
. c. W E 0 E.L ,
SURGEON AND OCULIST,
BEOWENCE THIRD NEAR WORTS BTI T.
He is now fully prepared to attend promptly to the
dirties of profession in all its branches.
A LONG MID TSZT 80002SSFUL MSDIOAL
justifies hint in promising full and ample eatisfaction to
all who may favor ltintwita a nal; ha the Mama QUIVIde
or any ether nature.
THOS. O. M.A.cDOWELL,
ATTORNEY Alr LAW,
MILITARY CLAIM AND PATENT AGENT.
ellee in the Exchange, Walnut st., (Up Stairs.)
riming formed a connection with parties in Wash
ington City, woo are reliable 'business men, any bred.
new; connected with any of the Departments will meet
with immediate and careful attention. me.y
MILITARY CLAIMS AND PEN—
SIONS.
The undersigned have entered into an andeiation for
the collection of Military Claims and the securing of
Pensions for wounded and disabled soldiers.
Muster-in and Muster-out NOUN ()Dicers' Pay Nan;
Ordnance and Clothing returns, and all papers pertain
ing to the military service will be made out properly
and expeditiously.
Office in the Rxdhange Buildin g s. Walnut between
.second and Third streets_ near Onlit'a Uarrie
'bur, Pa. 0 MAODOW - BLL,
jes g s.dtf THOMAS A. MA.GIIIRE.
SILAS WARD.
NO. 11, NORTH THIRD ST., HARRISBUNG.
NTEINWA.Y I S PIA.IIIOB,
DULLODMONS, VIOLINS, tiIIITARS,
Baufas, Flutes, Fifes, Drums, Aceordeons,
STECIIIGS, SILECT AND BOOR MUSIO, &C., &C.,
PRO TOGRAPR FRAMES. ALBUMS,
Large . Istrr and Mirrorn, square and Ovid 'MVP
of everpleszription lunde to order. ReguildingdOne.
a Chili eS.
1 1 .7) -- Sheol- ;
0 N G 0V E ,
TIVERCII ML'' TAILOR!
:ji gs j us t, rece i v ed fccna New York, an assort
ment of
SEASONABLE GOODS,
-which he offers to his customers and the public si
nov22) MODERATE . PRICES. dtf
T COOK, Merchant Tailor,
,qpj • 'a WI:SMUT ST, between Second and Front,
Has just returned from the city with an assortment of
CLOTHS, CASSIMERES AND VESTINGS,
Which will and„ be sold at moderate prices and made up to
order' also, an assortment of READY ALADIN
'Clothing and Gentlenseies Furnishing n•sda.
uov2l-131
DENT.ISTRY..
B. IL GILBEA, D. D. S.,
N 0 . 119 MARKET STREET,
Positive:) , extracts teeth without pain, by the use of
Nitrous Oxide.
janS-ti*
RELIGIOUS BOOR STORE,
FIrACT AND SUNDAY SCHOOL DEPOSITORY,
E. S. GERMAN.
'SI SOWER EINCOND SWUM, ABOVE 0H18N137,
stirausirOlG, PA.
Depot fortale sale of Stereoacopee,StereoseopieVieWl,
illuaig 444 ?f&eicai• Installments. Also, subscriptions
'taken for religious publiostione. n080.4Y
JOHN G.. W. MARTIN :
FASHIONABLE
CARD WRITER,
HERB'S HOTEL, HAREISI3I7RG, PA.
Al'manner of mime, WFDD INS AND BMX
'NESS CARDS executed in the most artistic styles end
-mast reasonable to decl4-dtf
UNION HOTEL,
`Ridge Avenue, corner of _ Broad sheet,
HARRISBURG, PA.
The undersigned informs the pnbfic that he has re
cently renovated and refitted his well-known 'Union
Ilotel" on Ridge avenue, near the Round house, and is
prepared to accommodate citizens, strangers awl travel
erg in the best style, at moderate rates.
His table will be supplied With the best the mullets
afford, and at his bar will be found superior brands of
liquors and malt beverages. The very best scoot-limo
s ations for railroaders employed at the shops in this
lard iltfj HENRY BOSTOT.N.
FRA.NKLiii
33ALTIMOBB, MD. •
This pleasant tad iserennodiona Hotel hag beep the
Toughly re-fitted and re-furnished. It is pleasantly
altnated on North-West corner of Howard and Franklin
streets a few doors vest of the Northern Central Bail
way De pot. bery attention paid to the cetnfort of his
,guests. G. LBISIINRING, Proprietor,
0124 f (Tate of Selina Grove, Pa.)
... _ _
THEO. F. SCHEFFER,
BOOK, CARD AND !OD PRINTER,
NO. - 18 MARKET STREET, HARRISBURG.
Partieniar attention paid tt , printing, ruling and
'inding of Railroad Blanks, Manifests, Insurance Poli
cies, Checks, &c.
Wedding, Visiting and Business Cards printed at very
low prices and in the best style. iangi
TAILORING.
. 4 ft., . 7_, T. 7
'The subscriber is ready at NO. 94, MARKET ST
four doors below _Fourth Meet, te make
MEN'S AND BOY'S CLOTHING
. _
In any desired style, and with skill and promptness.
Tenons wishing cutting done can have it done at the
'shortest aotien_ , ap27-d
CHARLES F. V OLLMEB,
UPHOLSTERER,
'Chestnut street, four doors above Second,
(OPPOSITS WASHINGTON HOSE HOOSNJ
1.1 prepared to furrdsb to order, in the very best style of
workmanship. Spring and Hair hiattresees, Window Car
'odes, Lounges, and all other articles of lettraiture in his
1 ine, on short notice snd moderate tonne. Having ex
perience in the bnsiness, he feels warranted in tailing
o bus of public patronage, confident of his ability to gigs
5 atilt/Set-ion.
I
~ ~..... .."
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VOL. 6.-NO. 41.
Oat* Notices.
NOTlCE.—Notice is hereby given that
application will be made at the next annual ces
sion of the Legislature of Pennsylvania, for a renewal
of the charter of the West Branch Bank, of Williams
port, Pa., with its present name and. style, location,
privileges and capital of $lOO,OOO.
By order of the Board of Directors ,
June 30th, 1863-Jy4-tml
LEGISLATIVE BANK NOTICE.
Notice is hereby given that application will be
made to the, legislative authority of Pennsylvania. at
the next session of the General Assembly thereof, com
mencing the first Tuesday of January, A. 10, 1884, for
the incorporation of a Bank having banking and dis
counting privileges, with a capital of One Million Dol
lars, by the name and style of " The Oil dity. tank,"
and to be located at Oil City, Yenango county, Penn
sylvania. C. V. CIILVER.
June 29th,1863-6m
NOTICE. Notice is hereby given that
"The Commercial Bank of Pennsylvania," intend
to apply to the Legislature of Pennsylvania at theirnez
session, for a renewal of their charter. Said bank is lo
cated in the city of Philadelphia, with an authorised
capital of one million of dollars, a renewal of which
will be asked for, with the usual banking privileges.
By order of the Board. S. C. PALMER, Cashier.
PHILADELPHIA, June 29,1863-6 m
NOTlCE.—Notice is hereby given that
application will be made to the Legislattice of
Pennsylvania at their nett session, for a renewal of the
charter of The Farmers ) Bank Of Sehttylkill County,
located in Pottsville, in the county of Schuylkill, with
the present capital of one hundred thousand dollars,
and with the usual banking privileges.
T. W. OAKS, Cashier.
June 16,1863.-7 m
N[OTlCE.—Notice is hereby given of an
VI intention to establish a Bank of Discount, Deposit
and Circulation, under the provisions of an act, entitled
'An Act to establish a system of free banking in Penn
sylvania," &c., and the supplement thereto ; said Bank
to be called "THE MANUFACTURERS' BANK," to
be located in the borough of Columbia, Lancaster
county, Pa., with a capital of One Hundred Thousand
Dollars, to be divided into two thousand shares of Fifty
Dollars each. dec4-6md.
ALLENTOWN 134NK.
ALLENTOWN Balm, tune 20, 1863.
Notice is hereby given, that application will be made
to the Legislature of Pennsylvania, at its next session,
for an increase of the capital of said Bank to the amount
:?•of 31200,000 in addition to that authorised by the present
Charter; and also for an extension of the Charter of
said Bank for twenty years from the expiration of the
present Charter.
By order of the Board of Directors.
je2o-41tml CHARLBS W. COOPER, Cashier.
BAN K NOTICE !—The Stockholders
of the FARMERS ) AND DROVERS' BANK OF
WAYNKSBURG, in Green county, Pa,, will apply to
the next Legislature of the State, for an extension of
charter, for the term of fifteen years from tile expire
,ion of its present term. The location, corporate name
and privileges, and amount of capital stock, to wit:
one.hundred and fifty thousand dollars, to be the game
as under its prevent charter.
By order of the Board. J. LAZEA.II,, Cashier.
Waynesburg, Green co., Pa., June 16,1868—je20-dtml
NOTlCE,—Notice is hereby given; in
conformity with the act of Assembly, that the
stockholders of the Bank of Montgomery County will
make an application to the next Legislature of Penn
aylossia for a renewal of the Charter of said Beek, with
the same amount of capital (Pour Hundred Thousand
Dollars) as under the present Charter, to continue its
present name and location.
By order of the Board of Directors.
W. H. BLINGLIIIIS Osibier,
' Norristown, Pa., tune 20, 1863.--fim
JOTICE.—The Miners' Bank of Potts-
Ane, la the county of Schuylkill, hereby give
notice that they intend to apply to the Legislature of
Pannaylvenia at their next cession fora renewal of their
4 " .1 "0 , 71j. , ' is located in the borough of Potts
ville,
capital of Flie Hundred Thousand Dollars—a renewal of
which - will be asked without any extension of privilegeo.
By order of the Board.
OITA. LOESER, Cashier.
Pottsville, Juno 20,1863.--61nd
NTOTICE is hereby given, that appliea
il tion will be made at the next annual session of the
Legislature of Pennsylvania. fora renewal of the charter
of the HARLON/Pa BANK, with its present name and
style, location, privileges, and capital of Three Hundred
Thousand Dollars. By order of the Board of Directors.
J. WEIR.
jen-dtml. •
Cashier.
TRADESMEN'S BANK,
PHILADNLPHIA, June 24, 1863.
Notice is hereby given, in conformity with the laws
Of the OommonWealth Of PellialirMia, that the Trades
men's Bank, of Philadelphia, located in the city of
Philadelphia, created with banking and discounting
privileges ' with a capital of One Hundred and Fifty
Thousand Dollars, that application will be made by the
said Bank to the nest Legislature for authority to in
crease the capital Ono Hundred and Fifty Thousand
Dollars.
By order of the Board of Directors.
JOHN CAB rießß,
Cashier.
A MENDMENTS TO THE CONSTITUTION.
A JOINT RESOLUTION rnormuNg CER.
TAIN AMENDMENTS TO THE CONNTITV.
TION.
Be it resolved by the Senate and House of Re
presentatives of the Commonwealth of Pennsylva
nia in General Assembly met, That the following
amendments be proposed to the Constitution
of the Commonwealth, in accordance with the
provisions of the tenth article thereof:
There shall be au additional section o the
third article of the Constitution, to be designa
ted as section four, as follows
SECTION 4. Whenever any of the qualified
electors of this Commonwealth shall be in any
actual military service, under a requisition
from the President of the United States, or by
he authority of this Commonwealth, Bush
electors may exercise the right of suffrage in
all elections by the citizens, under such regu
lations as are, or shall be, prescribed by law,
as fully as if they were present at their usual
plum of election.
There shall be two additional sections to the
eleventh extiole of the Constitution, bo be de
signated as sections eight and nine, as fol
lows:
SECTION S. No bill shall be passed by the
Legislature containing'more than one subjeet,
which shall be clearly expreesed in the title,
except appropriation bills.
SECTION a. No bill shall be pound by the
Legislature granting any powers, or privile*
ges, in any case, where the authority to grant
such powers, or privileges, has been, or may
hereafter be. conferred upon the courts of this
Commonwealth.
JOHN CESSNA,
Speaker of the House of Repfeteistatiees
JOHN P. PENNEY,
Speaker of the Senate
OFFICE OF TICS SECRETARY OF TEE CONSONwEALTS,
Harrisburg, July 1,1863. S
PENNSYLVANIA, SS :
I do hereby certify that the foregoing and
annexed is a full, true and correct copy of the
original Joint Resolution of the General As
sembly, entitled •"A Joint Resolution propo
sing certain amendments to the Constitution,"
as the same remains on file in this office.
In testimony whereof, I have hereunto set
my hand, and caused the seal of the Secretary's
office to be affixed, the day and year above
written. ELI SLIFER,
jy7- law6m Secretary of tlic Commonwealth.
MOTICE IS HEREBY GIVEN, that
L all persons indebted to the estate of Adam Dress
ler, late of Jefferson township, Dauphin county, de
ceased, are requested to make immediate payment ; and
all penman haying claims against said estate win pre
sent them to the subscriber for adjustment.
JOHE HOOVER.
Administra rof Adam Breeder, decl
Jefferson towaskip, Sept. 25, 1863.-826 St& oaw*
QOLDIER'S CAMP COMPANION.-
kJ A very oonvenient Writing Desk; also, Portfolios,
Afemorandrun Books, Portmonnales, he., at
OQUIPPBWII BOOKSTOBB.
MOUNT VERNON ROUSE,
Second street, above Arch,
PEILADELPILIA.
A. F. BLAIR, PROPRIETOR,
aetil6) Late of " Surf Honee ) ,, A tlaatie City. pi3m
B. JONES, Cashier
BUEHLER HOUSE,
This old established HOURS has undergone extensive
improvements, and been thoroughly renovated and re
fitted.
It is pleasantly located in the heart of the city, in
amp seems to the little Capitol and Public around..
07 For the accommodation of OUT gaeSeS, we have
recently commenced torus a Coach lo and from the Rail
road. In this manner unpleasant delay in leaving the
Depot for the Motel will be aesiired, and much more
time afforded fitesia for meek when kating the House.
Intending that the BIEFEEILBR HOUBli shall be really
ft home-like resort for the etraoger and traveler we re
spectfully solicit a continuance of the public patronage.
GBO- .J. BOLTON,
geptlEldlim Proprietor.
NATIONAL IIOTEL,
(bATI WHIM{ BiliAN,)
Race street, above Third, Philadelphia.
This establishment offers great inducements, not only
<on account of reduced ratan of board, but from the cen
tral location to the avenues of trade, as well as the con
venienoos afforded by several paleenger railroads run
ning peat and contiguous to it, by which guests can pass
- to and from the Hotel to the different railroad depots,
should they be preferred to the regular °motormen be
longing to the house. I am determined to devote my
whole attention to the comfort and COnTooloote of my
guests, and endeavor to give general satisfaction.
Terms-41.25 Per Day.
DAVID C. SIEGEL:IT,
(Formerly of Se& Hotel, Lebanon, Pa.)
T. Y. RHODES, Clerk. mrti-dtt
v olt SALE.—A two-story Brick House
on Pine street. For particulars in q uire or
MRS. JOHN MURRAY,
oct 10-2mS&W Corner of Second and Pine.
PRIVATE SALE--The well known
.1. Stone Tavern and Grocery Stand, now doing an ex
cellent business, situated between the Canal and Front
street, in the borough of Liverpool. Perry county, Pa.,
is now offered at private sale on accommodating terms.
Information regarding the property will be given by
calling on the undersigned, or by addressing Dr. T. a.
Morris, geeretary, Perry Lodge, No, 258, I. 9, 4. F
at Liverpool, Pa.
ROBERT WALLIS,
T. G. MORRIS,
J.A. BLATTBNBERGER,
Committee.
LIVERPOOL. Oct. lath, 185:3—dErt
VALUABLE PROPERTY AT PM - -
Y ATE SALB.—The subscriber will self at private
sale that valuable Tavern Stud, situate 611 Ridge Road,
in the Sixth Ward, Harrisburg, corner of Broad street,
being 26 feet in front and- 72 feet deep. The improve
ments are a two-story frame Tavern Rouse, with three.
story back building, flydrant water in the premises,
and other conveniences. The property is calculated
either for a store or a hotel, being eligibly situated.
For terms apply on the premises to
HENRY BOSTGEN.
HARRISBURG, September 9, 11893
P. S.—The subscriber will also sell a line et year Old
horse. and family carriage, having no tum for the same.
asp 2.0-tf H. B.
VOR SALE.—Tho BUILDING on the
it! corner of Walnut and Short streets, ailed as •
VOOPEE SHOP. This building was originally built so
that it oonld be turned into Dwelling Howes. It con
sorted tbree separate frame. placed together, each frame
be Eh by2o rest, making the entito building, as itnow
stands, ITo feet Wog and 20 feet wide. Will sell also an
SIGHT HORSE POWER B.Nd.TNE AND BOILED ' ',
ar _d one or- Stagoayagirs,
and SiZ NOW* ler•Oevattag ,21
,o.els. The above
property be sold at a bargain, as we Will to 'attar
the ground en which the. building stands. Enquire at
the Brokers Once of S. I...M'OULLOOH,
feb9-dtf • US Market Street.
LOTS FOR SALE-ON NORTH ST.
and Pennsylvania Avenue. Apply to
E. J. HALDEMAN,
'insrs-4itf Dor. Front and Walnut sta.
FOE SALE—A House and Lot on
Sixth street, near State. Enquire at the Exchange
Office of S. L. WOULLOCH,
26 Market street,
•
Where the highest price Is thwart 'paid for GOLD ...a
SILVER. febl2-dtf
HARRISBURG, PA:, MONDAY, OCTOBER 19, 1863.
§Ottili.
HARRISBURQ, PA
lot Sole Sr, eo amt.
I'OR SALE.--A TWO-STORY FE
HOIJSK in Birort street. Inquire of
sep3Otf W K. VBRBEKE.
glransportation.
DANIEL A. MUENOII,
Agent of the Old Wallower - Line,
Respectfully informs the public that this Old Daily
Transportation Line, (the only Wallower Line now in
existence in this city,) is in successful operation and
prepared to carry Preiglit as law as anyother individual
line between Philadelphia, Harrisburg, Sunbury, Lewis
burg, Williamsport, Jersey Shore, Lock Haven, and all
other points on the Northern Oertral, Philadelphia and
Inc and Williamsport and Dimly.. Railroads.
DANLIIui 111111NQII, Agent,
Harrisburg, la.
Goods Bent to the Warehottae of Messrs, Peacock.
Zell & Hinehman,No. 808 and 810 Market street, above
Philadelphia, by . 4 o'clock p. m., will arrive at
Harrisburg, ready for delive , next morning. myo
T F. WATSON,
IVIA_STIC WORKER
AND
PRACTICAL CEMENTER,
/14 prepared to Cement the extorkve Of Dandier with
he New York Improved
Water-Proof Mastic Cement.
This Material it different from all other Oemente,
It forms a solid, durable adhesiveness to any surface,
imperishable by the action of water or frost. Every
good building should be coated with this Cement ; it is
a perfect preserver to the walls, and makes a beautiful,
fine finish, equal to Eastern brown Pfincistone, or any
color desired.
Among others for wbom I have applied the Mastic
Cement, I refer to the following gentlemen :
J. Bissell, residence, Penn street, Pittsburg, finished
five ,ears.
J. H. Shoenberger, residence, Lawrenceville, finished
five years.
James WCaridlass, residence, Allegheny City,finished
fiye years.
Calvin Adams, rivi4euce, Third Wed, finished fogy
years.
A. Hoevelar, residence, fiawreneeriile, finished four
years.
J. D. M'Oord, NM street, 4 Rilthed four yearit.
Hon. Thomas Irwin, Diamond street, finished font
years.
St Charles Hotel and Girard House, finished five
years.
Kittanning Court Hones and Bank, for Barr St MBllOl,
Architects, Pittsburg, finished five years.
Orders received at the office of B. M'llldowney, Paint
Stop, 20 Seventh street, or please address
T. F. iraTtioN,
asayl6-tf P, 0. Boa 1506. Pittsburg, Pa.
A URINGER'S PATENT BEEF TEA,
Di a eelid, eaneeatrated extract of
BEEF AND VEGETABLES,
Convertible immediately into a nourishing and deli
cdons soup. Highly approved by &amnia. of sminent
Phirsiciags,
Tide admirable Wide condensed late a rampant form,
all the substantial and nutritive properties of a large
bulk of meat and vegetables. The readinees withwhich
it dissolves into a rich and palatable Soup, which would
require hours of preparation according to the usual
method, II an advantage in many 1411110 MP of We l too
obvious to need urging. Its highly nourishing qualielee
combined with its delicacy, rendez% it invaluable for the
sick ; while for those in health, it is a perfect substitute
for fresh meat and vegetables. It will keep good in any
ailmate.
It is peculiarly well adapted TOR TlLkvsbsiin, by
lend or sea, who can t h as avoid those accidental deprive
Ilona of a comfortable meal, to which they are so liable.
NOB INVALLN, whoa* capricious appetite can thus
eatidied in a moment.
TOR STORTSMIraI and IXOUBSIONISTS. to whom,
both its compactness and my preparation will recom
mend It. For sale by
sepit-tf U. Boo& Js., & Co.
GOLD PENS I—The largest and Lei
dock, from 61.00 to s4.oo—warnated—at
IKIMIMBI BOOUTOIII.
if* :11 grid C nio n.
MONDAY MORNING, OCT, 19, 1868.
NEW NATIONAL BANKING SYSTEM ;
OR, GOVERLMENT PAPER MONEY.
At a meeting of the New York Clearing
House association, held October 6, 1863, the
following ressolution was adopted :
"Resolv.d, That a committee of five bank officers be
APPointed to examine into the system of National
Banking initiated by the nresent Secretary of the Tres
miry, in its prospective effects upon the currency of our
nation and the natiopal credit; and to report what ac
tion, if any, devolves upon the banks of this ammonia-
Lien in the premises."
REMARKS OF JAMES (lALLATIN, ESQ., IN REFER-
_KNEE TO THE ABOVE REBOLTITION,
Questions of serious importance, to which
your attention was solicited two years ago,
have lately been brought to your notice in a
circular dated 28d ult., signed "A. Bank Stock
holder and Director." It is conceded in this
circular that the "flood" of paper money is
sued by the Secretary of the Treasury was
wholly uncalled for, and that the refusal to
adopt the suggestions of bank' officers and
others, as to the expediency of maintaining
specie payments throughout the war, has led
to the evils which were then foreshadowed, and
which are now coming upon us in such fright
ful shapes that even those who derided the idea
of sustaining specie payments stand aghast
before the creations of their own policy.—
Thanks to the disasters which have over
whelmed the paper issues of the insurgent
Davis in ruin, all loyal men can now see
whither Mr. Chase's paper money schemes are
tending. No man can now doubt the folly and
the madness of these achomes, nor question the
practicability of conducting any conceivable
amount of financial business in this country
upon a Specie basis; for, as we know by past
experience in the Clearing House, the qqantity
of real money required to be moved does not
amount to a twentieth part (five cents in the
dollar) of the sum of the business transaeted.
The Secretary's plans are defended on the
ground that they have saved to the country
the interest en his issues of paper money, but
the increased prices of supplies are enhancing
the cost of the war, and increasing our na
tional debt to a much greater extent than the
savings of this interest; and as the proposed
further issues by the new banks can only ag
gravate the evil, without saving to the gov
ernment. the interest on the proposed increase
ef circulation, it becomes the duty of bankers
as well as the people to look earnestly as pa
triots at the consequences of the extension of
this new description of paper money. Does
the country need it? Will it save the govern
ment from increased expenditure ? Wilt it
save interest to the government? Will it
bring ua nearer a specie standard ? All these
questions, in my humble judgment, demand
serious investigation. If they are to be an
swered in the negative, what then is the possi
ble use of this new current:) , ? Centralization
of monetary power at Washington is one. Is
that desirable? Is it judicious to place the
whole volume of security for the entire paper
money of the country in the bands of one wan
at Washington ? Images of grandeur and
power' limy be floating in this one man's inia
*Dation. "Those meteor lights, which are
efkiNiit'vE gcr tj _z , revo
lution to allure the ambitious and
weak."
This new paper money of the new banks is
not a legal tender by act of Congress. GeV
ernment may pay it to certain of its creditors,
and it is bound to receive it in payment of all
debts ether than duties on imports. But the
notes are redeemable only where issued, and
as Government may pay at New York the is
sues of a bank at St. Paul, in Minnesota, it
follows that the currency of the new banks
located out of this city will assume the char
acter of that description of uncurrent money
heretofore and now bought by our city bro
kers at a discount. Ido not understand how
such issues can be taken at the Clearing
House, and treated as current money in this
city; end tie the proposed object of creating a
national currency with this new money will be
defeated by the inevitable depreciation of the
issues in places distant from the places of re
demption, no efforts of ours.through the New
York Clearing House would avail in counter
acting the natural law of depreciation inherent
in the issues thus circulating. Eerie() it will
be impossible, in my humble judgment, to re
ceive such issues at the Clearing House, and
the whole of this new banking system, being
intended to maintain a certain unity of pur
pose, the rejection iof a part necessarily in
volves the rejection of the whole.
No injury can be done to the Government,
Or the holy cause of preserving our national
life, by permitting this new currency to follow
the natural law of depreciation inherent in
such issues, because the Government saves
nothing by the issues ; en the contrary,Govern-
ment must lose heavily by these issues if all
banks receive and pay them, and thus convert
them into current money to increase prices
and add immensely to the national debt, by
thus increasing the cost of the war. Patriot
ism as well as duty, therefore, call upon us to
avoid the error of adding them to the Volume
of current money, already so largely expan
ded.
Before the suspension of specie payments,
nearly two years ago, when the question of
Mr. Chase's plans created uneasiness among
us all, I. then remarked in an address at one
of our meetings
"That we were all desirous of knowing his
plans for the future, and particularly the
measures he proposed to recommend to Con
gress. is custemary, la all countries, to
communicate such information freely to all
persons making great loans, and the Finance
Minister of even the most despotic governments
considers himself bound to furnish it on such
occasions. But Mr. Chase utterly refused to
give any intimation of his plane to us, Having
heard rumors from the street that plans for an
indirect issue of Government paper money,
upon national securities, in imitation of our
system in this State, were being pressed upon
his notice, I prepared and read to *him on that
occasion an exposition of the futility of re
sorting to such's scheme, and explained how
it would fail to yield him the supply of capital
required. He solicited a copy of the paper,
'which I gave him, and in the hurry of pre
paring his report, he no doubt overlooked it,
for a few days afterward he sent in his report
to Congress, recommending the very scheme I
had exposed. It would seem evident, there
fore, that either he is notvery well acquainted
with the nature of financial affairs, or is con
trolled, no doubt, by well meaning persons,who
advocate the policy of a suspension of specie
payments and a vast issue of paper money. In
either case the results of hie policy will be the
same, and the influence upon us is no longer
a matter of conjecture."
We all know what Mr. Chase's plans were,
and we are also familiar, from daily observa
tion, with the enormous fortunes that have
been realized by individuals within these two
years from the successful carrying out of those
plans; while the poor have been made poorer,
PRICE TWO CENTS.
and the industrial and producing classes are
loaded down by high prices incident to the
inflation which 1 -floods" of paper money create.
But all remonstrance has been in vain, and
now it is highly probable that the failure
which bide fair to attend these new bank is
sues upon emerging into circulation will lead
to their being made a legal tender by Congress
at the approaching session, or to some attempt
of that kind ; for it seems no longer doubtful
that the paper money advocates are deter
mined to push their opportunity to the very
last desperate resort., exactly in imitation of
the famous bubble of the great prince of paper
money, the celebrated John Law.
In view of this course of events, in January
lasi. I. wrote to Senator Fessenden:
"There is a certain positive limit to our ca
pacity for expenditure as a nation. Our sa
sings (in the loyal States) have been shown in
our last census, and although some estimate
them as continuing even during the present
struggle at a rate equal to that of the most
prosperous year of the decade which closed
with an aggregate wealth computed at twelve
thousand millions, it is by these that our
course in the war should be regulated as to
expenditure, and whether they amount to four
hundred or seven hundred millions, it must be
borne in mind that the regulating power of the
currency over these savings is one of the most
important elements of our economical calcula
tions. If we - continue to add to our paper
measure of price, we shall continue to lessen
the power of the people to save, because we
shall drive out of the country the real money
upon which all prices and value depend. No
legislation or device of man can prevent that.
Specie is now near fifty per cent. premium ;
prices of everything but Government stocks
are rising, and gold is flowing out of the coun
try in a steady stream. More legal tender will
increase the prices of all property and commo
dities, except Government stook-, and render it
more and more difficult to fund the national
debt in long loans.
of These phenomenas are not new. They
have always accompanied excessive issues of
paper money. Freight has as much influence
as the love of gain, in producing them. 'When
there is an abundance of money, and every
thing is rising, people find it more profitable
to use the money to speculate with than to in
vest in permanent leans. Vast issues of elov
ernment paper money create fears of national
bankruptcy. All this fear, and alarm, and
speculation may be, and no doubt is, very fool
ish and very unpatriotic. But we cannot
change human nature_ Our statesmen must
deal with it as it is, if they would make it ser
viceable to tne great and holy object of pre
liervine oar nationality and perpetuating our
liberties."
And, in view of the hostility evinced at
Washington toward all ; existing banks, I ad
ded in the same letter to Senator Fessenden
"Since the foregoing was written, my atten
tion has been called to the state of feeling and
opinion existing at Washington upon the finan
cial affairs of the Government. A. persistent
hostility seems_ to prevail against the banks,
on the part of the very gentlemen who desire
to create new banks. Now, I would ask, is this
a time for such machinations l It was impos
sible for the Secretary of the Treasury to have
gone on in the early progress of the rebellion
had not the banks come •to the aid of the Om
moment. Indeed, many believe that the re
bellion would probably at first have been suc •
oessful if the banks of "the loyal States had not
moltuoteered their aid as they cid long before
the Secretary was - anti to tuAttrii• Aar plage
for the relief of the Treasury: . (AltAotighlhe
banks suppled him with resourors, he neglect
ed the provisions of the law authorizing him
to draw direct upon them, preferring to make
his drafts through the sub-treasury, thus
draining them of their eoin, and from this
cause has arisen very many of : our financial
troubles. It produced the suspension of specie
payments, and caused the inflation of the cur
rency, which (together with legal tender is
sues) have tended to reduce our material
power, thus favoring the designs of the re
bob."
The hostility to which I thus referred has
now been openly avowed by the Controller of
the Currency in his circular letter dated last
month. He has declared his desire to hare all
the banks now in existence wound up and
transformed into banks which shall be known
by simple numerals, as "one," "two," "three,"
"four," &0., so that 'no distinction shall re
main to mark those of high credit and good
standing (as the Bank of New York, Bank of
Commerce, and like institutions) from those
which may have neither. I can find no war
rant in the act of Congress for his arbitrary
decision against the old banks retaining their
former names, when re-organized under the
new law.
He says: "Before I entered upon the dis
charge of my duties as Controller of the Cur.
rency, the Secretary of the Treasury. after
much consideration, had come to the conclu
sion, as a National Currency was to be provi
ded through the instrumentality of National
Banking Assoeiations,that all such associations
should have a common name. Persons forming
associations under the act have, therefore,
been advised to tate the 111111:108 of First, Sec
ond, Third, &c., National Banks of the planes
in which they are established, according to the
order of organizations This rule is expected
to be observed by State banks that may be
converted into National banks under the sixty
first section of the act, as well as by original
associations."
It is not the Act of Congress, therefore, but
a "conclusion" of the Secretary of the Trea
sury, which is to prohibit a bank from retain
ing its name, under which it may have attained
a high degree of credit, as valuable to it, pro
bably, as a large portion of its capital ; and,
indeed, the Secretary might with as much jus
tice require men employed in these new banks,
to be known by, their numbers instead of their
names, so far as any authority that I can find
in the law of Congress has conferred that power
upon him.
The Controller of the Currency says:
44 1. know with what tenacity and pride the
managers of old and well conducted banks
cling to the names which their ability and in
tegrity have done so much to make honorable;
but I would suggest to them that it will be an
easy matter for them to - transfer to National
institutions the credit which they and their
predecessors have given to State institutions;
that it is not the name of a bank, but the
character of the men who conduct its affairs;
and the character of its securities, that give
to it the confidence of the public. The Mer.
chants' Bank of Boston will not lose a particle
of credit by becoming the First National Bank
of Boston ; on the contrary, its credit will be
improved by it. Nor would the stock of the
Chemical Bank of New York be a whit the less
valuable, nor would its reputation be in the
slightest degree lessened, by its becoming the
tenth or the fiftieth National Bank of New
York."
It is true that a rose by any other name
will Betell as sweet," but I doubt very much
the possibility of transferring the credit of old
banks, as he proposes, to the new ones, under
new names, especially as the names he pro
poses are not real distinctive names, but simple
numerals I In the case of members of Congress
• I : • : • MO •
SUNDAYS IXOEPTBD
BY O. BARRETT & 0,0
Tax DAILY ?Am*OT AID Vino. will be orrnsi to maw
webers reading in the Borough for TIN ants if Wang
payable to the Carrier. Mail mitieoribers, mai gamin
IVA M(111711.
.1*
Tii* - 111111ILLT NOVIRIOT MID num iiipnblisial atm;
nom.saa.ran minon, invariably in advanab. Tea mei,
to mac address,fiftess dollars
Oreneet,wl with this wWablishment a extensive
JOB 02111011, containing a_variety of plain sal baby
tiPiunelpsMed by any establishment in the fatalist , Of
e e etste, for which the patronage of the public is no
netted.
or the members of the Cabinet, for instance,
how ridiculous for the Speaker of the House
or the President to insist upon having them
known by their numerals ! Or for the Secre
tary and the Controller to be compelled to se:.
lest numerals for themselves ! A. "centralization
of powers" at Washington, to edam snob a
"regulation," would be no more absurd than
this proposed "regulation" as part of the finan
cial "centralization of power" to Compel banks
to be knows by their UtUnerale. Indeed, there
is a serious question involved in this number
ing of banks, involving the credit of the whole
system. I refer to the great danger of the or
ganization of bogus banks under the new law,
as was the case under similar laws in several
of the Northwestern States, some years ago ;
and it is possible that the Secretary, as well
the Controller, may live long enough to wit
ness serious blows to the credit of the new
banking system from abandoning distinctive
name for malPeralS•
Among all the deplorable consequences of
increasing the prices of commodities by this
proposed increase of paper money through the
new banks, none is so injurious to our na
tional wealth as the transfer of our public
debt into the hands of foreign capitalists at the
most extraordinary low prices. Persons not
conversant with financial affairs aro ahlladt
fully deceived and misled on this question.
Because the stocks of the United States are
quoted at or above par, no matter what may
be the price of gold and other commodities,
they consider our financial policy to be foun
ded upon the wise teachings of experience.
Now, for example, let us take * ease, similar
to those which occur every day on the street
and in the New York Stock Board.
We will suppose gold to be at fifty per cent.
premium, as it has been more than once within
a year. and a capitalist residing in,Lontion or
Paris wishes to buy one thousand dollars worth
of our government stock—say "fivartwentie&"
This stock is at par in our paper money, one
hundred dollars in "greenbacks" being worth
one hundred dollars in "five-twenties. The
capitalist has sent one thousand dollars in
gold (or bills of exchange payable in gold)
from London or from Paris, and this 'sells in
New York for about fifteen hundred donors in
greenbacks, there being a slight charge for
expenses ; so that every thousand dollars sent
from other countries, when gold is about fifty
premium in New York, buys about fifteen hun
dred dollars of our Government stock, bearing
six per cent. interest in gold, and In reality
Mr. Chase gets less (in real value) , than one
thousand dollars for his fifteen hundred of
stock, because his issues of paper money have
increased the price of everything so much that
the fifteen hundred dollars he would have re
ceived in paper, in the example just referred
to, would buy far less in commodities than the
thousand dollars under a specie currency.
He pays interest on fifteen hundred dollars
annually in gold, being ninety dollars a year.
although he has received in real value only
one thousand dollars. In this way every for
eign capitalist, when gold is at fifty premium.
gets our government securities at about sixty
six cents on the dollar, so that his capital
yields him more than nine per cent. interest,
while our poor people, as well ao idl pereetul
having fixed incomes, are made to pay fifty
per cent. more for the necessaries of life, and
our own capitalists are compelled to pay fifty
per cent. more than foreigners for our national
securities. To impoverish a nation, and dis
courage the labor and savings of its people.
no system is so effectual as this of paper
runner ; and_itie this system, so ruinous to the
nation and tne pi3oprenitin w -
to render active and efficient by admitting its
engines into the Clearing Howie, that they
may destroy and supplant the specie paying
system upon which our New York City banks
are founded, and establish upon its ruins that
of the notorious John Law, which has exploded
in every country which has tried it, leaving a
succession of awful warnings and admonitions,
which are to be read in almost every chapter
of the history of nations, during the last and
present centuries.
MUBICAL,
One of the interesting musical events of the
season is the competition in instruments, and
the pocess that has attended the exhibition of
Bradbury's Piano Fortes at the several fairs
recently held. This success is the more re
markable from the foot that a new competitor
for publie fiver has always to contend with
the prejudices of those who are interested in
keeping .their old favorites in the front rank;
and it ie only when the intrinsic merits of a
new instrument are so apparent as to render
opposition to it hazardous to their professional
reputation that it can get a fair start.
This bee been the opening year for Brad
bury's instruments, and thus far with the fol
lowing result :
I. First prize at the New Jersey State Fair
at Paterson.
IL First prize at the New York State Fair
at Utica. •
111. First prize at the Ohio State Fair at
0/eveland.
IV. And now, at the Fair of the Anteri=a
Institute in this city, it has also been awarded
the first prise.
There was a large number of fine pianos in
this exhibition, and the managers of it devoted
to them the largestnnd most prominent apace
in the main hall in the Academy building.
Among these the beautiful square piano con
tributed by the manufacturer, William B. Brad
bury, maintained a first place, being remarka
ble for power, brilliancy, richness, purity mid
equality of tone, combined with delicacy of
touch, strength f frame and general excel
lence of mechanical manipulation. This piano
has Mr. Bradbury's new and improved settle,
which is now receiving the highest oiniimenda-
Lions from first alert musical authority, as well
se the public generally.
L. M. Gottschalk, the eminent composer sad
-pianist, after a most thorough and soratinising
trial, says ; " I have examined with great
care Wm. B. Bradbury's new scale piano-fortes,
and in my opinion they are very superior in
struments. I have especially remarked their
thorough workmanship, and the power, purity,
richness and equality of their torte. I recom
mend theie instruments to the public. in gene
ral, and doubt not , of their success." This
opinion, we are assured, is fully concurred in
by Messrs. S. B. Mills, Maurine Strakoseh,
William Mason, Max Maretsek, W. Berge,
Henry Sanderson, Geo. W. Morgan, Charles
Grebe, Theo. Hagen, Charles Fradel, John H.
Ickler, Clare W. Beames, Charles Wells, Robert
Stoeppel and Theodore Noelling, a galaxy of
musical experts, whose united and unanimous
favorable opinion could only be secured for an
article of great intrinsic value, in their speed
alities.
This piano has an iron frame, overstrung
bass, and every real modern improvement. It
is constructed of the beet through-seasoned
materials. and its outward finish is second to
none. We are - informed by the managers that.
Mr. Bradbury did not manufacture this instru
ment especially for exhibition, but that it was
taken promiscuously from his general Meek.
The public are already indebted . to Mr.
Bradbury for his labors al a composer of
ohuroh and eabbath school music; bfit it would
seem that hie Moen in that department is to