Government Flnances-Indepcndent Treasu-


ry, and Treasury Notes.
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The policy of the government issuing treasury
notes for the full amount required to meet the
ordinary and extraordinary expenditures, growing
out of the position of our affairs with Mexico, has
been pretty well discussed by the organs of both
parties, and there appears to be very little opposi-
ton to the measure.


Il would be much better to issue treasury notes


at rate OF interest, varying little below the legal
standard, in denominations as low as fiites and as
high as thousands, than to come into the market
under existing circumstances for n large loan
Even in the event OF direct loan being deemed
advisable, il would be better to issue a certain
amount OF treasury notes, for the purpose of re-
heving the money market, and to enable the gov
eminent to make more favorable loan than it
otherwise could. These treasury notes would be-
come generally circulated through the country,
and would be valuable acquisition to the cur
rency, without requiring the withdrawal of cor
responding amount Of specie, and without deprc-
ciating the value Of the circulating medium.


The issue of large amount of treasury notes,
in anticipation of the establishment of the inde-
pendent treasury system, would remove the
fears of all those opposed to that BILL and bring
that act into operation gradually, as to prevent
any of those contractions by the banks, predicted
Vc SohoAuci tio uSPoSdi Ol INC surplus revenue,
or any important matter, and a large issue of
treasury notes, particularly as the government
must sooner or later adopt the Independent Trea-
sury system, and dissolve its connection with
hanks, movement equally desirable, and equally
important.


Whatever may be the result of the efforts
making to reduce the tariff, and whether
the revenue of the present bill, or any one tha,
may be adopted, viii be above or below the
amount required, for the annual expenses of the
government, we want no accumulation in the
treasury in any shape; and there is no way of
preventing this, but by issuing notes payable on
demand, which can at any time be presented for
redemption. surplus will in this way be out Of
the question, and the government will not be able
to draw from the channels of trade, for any length
of time, n dollar ef specie.