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THE MAcoN SPEcIFIC,' as it is called, which receiving bank notes at par value, is nothing more than the old had money currency! It is war on bank notes in disguise which the lOco-focos are pursuing with great pleasure. 1T to come to the Cuba and the Greek and Chinese systems of cur rency, may well understand that we have not gold and silver enough in the whole country act the business of New York alone; and that in de- stroying all the banks, at destroy the credit system under which we have prospered.-[Time & Star.

 Surely it is not making upon banks to require them to fulfil their engagements. Especially, after an indulgence of four years dishonor, (we of course speak of the suspended banks,) it can be no great hardship, if, like individuals, they compelled to toe the mark and either pay wind up. This is the way to regulate the currency and it will do it efec- tually, if permitted It will clear the refuse banks of the market, and give us sound currency all the country, equal to specie, because always convertible into specie at the option of the holder The bilterest enemy of banks could desire nothing better for his purpose than to have them go year after year, dealing rags redeemabe only in other rags. There is a great difference between the Chi nese Cuban system of currency q. e.) specie and rredeemable paper; and if we must have one or the other of them, prefer the former. But there is medium in this case, in most others: and we see it exempfed now, in this city and state and through out New England. better currency could scarcely be desire than that which have. It is not specie, but it is just as good specie, because convertible into specie dollar for dollar, at option. Having fdence in this fact, the holder doest not ordinarily wish to convert II; for the representative dollar is much more convenient than the real dollar, being less cumbrous and equally safe. We speak of sound, well conducted, specie paying banks. Sueh banks will always, we presume, be sustained by public timent, because they are, in reality. public benefit But your rickety, spavned, ring tailed banks, which pay nothing but rags, and to if they can avoid il, will be put down in spite of fate; and it is better to do it at once, before the odum winch they dsserue becomes attached to those which do not de- serve it. We must get rid of the rotten limbs, or the whole tree will fall in due time.