We copy some of Mr. Appleton's remarks an ,he
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We copy some of MT. Appleton's remarks on the subject of Domestic Exchange.

 Another argument must dwell on in favor of

 large national bank, Is its necessity equalize the exchanges. There is not much in this There ia difficulty with the exchanges where the banks nav specie. There lies the whole difficulty. Let that be reformed, and there will be no complaint on thai score. The exchanges soon regulate themselves where the currency is uniform, is the legal cur rency of the United States. large bank, with many branches, can manage the exchanges with more profit to itseJ, perhaps, than a local bank can do. The late United States Bank took care to charge the highest rates for exchange which the alternative of transporting specie would admit For several wears the exchange at New Orleans on northern bills was kept so high, that considerable shipments of specie were made from Boston and New York for the pur- chase of cotton. The change in our laws, which has made gold the basis of our currency, will have most salutary effect in lessening the rates of exchange whenever the banks resume their proper functions. The effect is already quite apparent on the exchanges between Boston and New York. Gold is constantly transported from city to another before the ex- change can rise to quarter of cent, which is consequently the maximum. When the hanks paid silver. transportatons would hardly he attempted with exchange below one per cent.

 MT. Appleton's position, as President of the Uni ted States Bank, must have afforded him the best opportunity for ascertaining what effect the opera tions of that institution had the regulation of ex- changes It may not be amiss to add, that he was member of Congress from Boston m the year 1892. and such voted for the recharter of the United States Bank. He cannot, therefore, be regarded as under the influence of prejudice against that si- milar insttution. of Banking.