The effort seems to be, by making very large time sales of gold at 30 @ 60 days, to fictitiously depress the market up to the time of the meeting of Congress, when the financial report shall have been made. The effort is so manifestly ruinous to individuals, that is is hardly to be supposed they would engage in it, unless very ample guaranties were behind them. The gold was restored to the banks on the 17th, and in four days $900,000 was sold, one-half on time, by persons who did not hold it. The exporters took the time sales, and as it is delivered to them it will leave the country. The "short sales" of the gold are therefore a premium to export it. When the gold can be had at a low rate, bills are lower, and consequently there is less disposition to ship produce. Hence, all the loss sustained by attempting to get down the price of gold for political effect, is actually a premium paid to cause it to rise at a later period. The high rate of gold seemed to alarm the department in relation to the flood of paper, and it was resolved to issue the $13,500,000 three-year' 73 bonds that remained of the $150,000,000, which were authorized, and of which the banks took $100,000,000 at par for specie. The amount of bids for the lot was $23,500,000, and the award was made at an average of 34 per cent; the range of bids was 3.05 @ 4 per cent. The market price for the day was 104. The Secretary had these notes on hand a year, and did not issue them, but continued to pay out paper money. The rate of money in the market was very low all the Fall, although the speculation in stocks had absorbed a good deal, but when the Secretary was ready to sell his bonds, he, with singular fatuity, went first to the banks and borrowed the amount in advance. To lend him the sum, the banks called in loans, and disturbed the market so as to cause a rise in the value of money, at the very moment when it was to the interest of the Treasury that it should be cheap. The real price of the loan, as compared with that taken by the banks last year, was 77 per cent, or 23 per cent less than last year. An English or Canadian capitalist, who might last year have bought the bonds for 100, would this year get them for 77. The general price of stocks has been as follows:

The rate of money rose under this loan operation to 6 @ 7 on "call." The bank returns in another column indicate that loans increased and the deposits diminished under the transaction. It will be borne in mind that, gold being no longer currency, all the operations of the banks are based on the legal tender notes, and they are therefore compelled to keep a reserve of those notes on hand, and this absorbs a large amount. It is also to be borne in mind that the rise in prices has of itself swollen the sum of the deposits, and the amount of the loans. The shape in which the finances will come before Congress is matter of great solicitude. There are many projects of improving the finances of the government by changing the descriptions of paper to be issued and the mode of borrowing,as if borrowing in any shape was a remedy for a deficient treasury. The idle boast of Mr. CHASE, that his paper money is a loan "without interest" from the people, comes home with melancholy force to the hearthstones of the poor, who, in the extra price of fuel and food, are paying with their heart's blood for the use of that money. The number of men in the army has been estimated at 800,000. If half of them have families, and those families consume the usual estimate of one barrel of flour per annum each, then those families alone pay $600,000 per annum tax on the single article of flour, which the shipper sells in Liverpool for $150 per barrel less than in New York. The pay of the soldier is fixed at $13 per month, while, by the use of the paper money, all the articles they buy with it have risen 30 per cent. In other words, the soldiers alone pay $30,000,000 per annum tax on Mr. CHASE's loan without interest.

There is only one way in which the sorrowful course of this paper money can be retraced, and that is, by a truthful statement of the present amount of debt and a clear statement of current expenditures-to present the exact facts to Congress and to the public. The next step is to impose taxes to the whole amount of the current expenditure, and then fund the existing outstanding paper at any price to get it out of the market. No observing man dreams that the debt is at this moment less than $1,200,000,000, notwithstanding the statements made by Mr. CHASE and others. That sum cannot be placed under 8 per cent, and will cost, with the sinking fund, over $100,000,000 per annum, which must be raised by taxes, in addition to the $800,000,000 per annum of war and ordinary expenses. Last year the report of Mr. CHASE caused the banks to suspend, because it destroyed confidence. That confidence has shown no disposition to revive under the system of false statements and concealments, in violation of law, that has been practised in relation to the public debt. The time is now fast approaching when nothing will stand between the government and financial ruin but a thorough system of honest taxation.

JOURNAL OF BANKING, CURRENCY, AND FINANCE.

1. BANK RETUrns of New YORK STATE. 2. CITY WEEKLY BANK RETURNS. 8. MASSACHUSETTS BANK RETURNS. 4. PENNSYLVANIA BANK RETURNS. 5 RRODE ISLAND BANK RETURNS. 6. NEW JERSEY BANKS. 7. NEW HAMPSHIRE BANKS. 8. BANK OF ENGLAND. 9. AMERICAN CURRENCY IN CANADA. 10. CIRCULAR TO COLLECTORS OF CUSTOMS.

BANK RETURNS OF NEW YORK STATE.

We are able to give this month the quarterly returns of the banks of New York State, which show remarkable changes during the past year. For instance, it will be seen that on September 28, 1862, the circulation had since September, 1861, increased nearly $10,000,000, and that the deposits had increased $75,000,000. Truly we might be said to be growing rich if paper were money! The following shows the movement of the State banks for the year, in respect to five principal items of their respective reports:

Date.

Stocks and govDiscounts. ernment notes.

Circulation. Deposits. Specie. September, 1861. $28,015,748 $111,895,016 $38,089,727 $176,055,848 March, 1862. 28,330,973 121,988,259 34,301,092 162,017,987 June, 1862. 33,727,382 150,438,244 32,882,693 184,501,261 64,838,009 September, 1862. 37,557,373 186,390,795 89,283,981 165,584,063 107,116,775

The following are the returns at large for the last two quarters:

QUARTERLY REPORTS OF THE BANKS OF THE STATE OF NEW YORK FOR JUNE AND SEPTEMBER, 1862.

In June 302 banks were in operation and all reported, but in September 306 banks reported, including J. A. CLARK & Co.'s Bank, Pulaski; JOSHUA PRATT & Co.'s Bank, Clinton; Q. W. WELLINGTON & Co.'s Bank, Co. ning, and T. O. GRANNIS & Co.'s Bank, Utica, (new banks, reporting for the first time.) The Bank of Ontario, Canandaigua, and R. I. INGERSOLL'S & Co.'s Bank, Pulaski, have commenced business since the 27th September.

We also give below the September returns of the city banks for each quarter of the past year:

QUARTERLY RETURNS OF THE BANKS OF THE CITY OF NEW YORK FROM SEPTEMBER, 1861 TO SEPTEMBER, 1862.

The following is our usual table of the weekly returns of the New

NEW YORK BANKS.

CITY WEEKLY BANK RETURNS.

Loans.

97,601,279 115,376,381 94,428,071 106,973,432 94,082,625 111,336,384 93,759,063 114,788,013 95,179,340 113,529,377

124,396,733

140,952,471

(Capital, Jan., 1862, $69,493,577; Jan., 1861, $69,890,475.) Specie. Circulation. Net Deposits. Clearings. $154,415,826 $23,983,878 $8,586,186 $111,789,233 $100,642,429 152,088,012 25,373,070 8,121,512 113,889,762 105,634,811 149,081,483 26,120,859 7,369,028 118,327,160 107,732,780 145,767,680 26,698728 6,828,017 110,874,786 100,001,959 144,675,778 27,479,583 6,404,951 112,057,003 93,791,629 143,803,890 28,196,666 6,077,417 110,687,557 113,216,297 141,994,192 28,114,148 5,762,506 110,430,475 105,102,177 139,950,958 28,875,992 5,489,496 109,079,076 111,346,066 137,674,238 29,826,959 5,363,944 107,974,499 109,854,828 133,055,148 30,436,644 5,869,206 103,715,728 118,512,576 130,622,776 30,773,050 5,904,866 100,296,704 118,957,978 127,615,306 32,023,390 6,260,309 125,021,630 32,841,802 6,758,313 124,477,484 33,764,382 7,699,641 128,412,491 34,594,668 8,004,843 123,070,263 34,671,528 8,064,663 125,086,825 35,297,944 8,118,571 101,897,435 133,406,418 35,175,828 8,482,782 109,634,535 138,948,211 32,239,868 S,830,321 115,559,206 181,113,537 142,290,782 30,280,697 8,727,328 120,003,929 167,390,055 142,950,149 30,672,760 8,592,676 122,602,864 142,828,565 142,671,414 31,397,284 8,535,149 125,434,755 136,893,373 142,318,381 31,248,882 8,813,603 125,566,961 148,123,103 144,014,350 31,162,048 8,814,322 125,643,375 165,521,454 146,839,762 31,047,945 8,849,183 126,684,422 168,059,995 148,346,422 30,832,626 8,910,344 127,860,708 154,890,447 148,643,718 31,790,519 9,270,815 127,496,534 149,748,923 147,997,436 32,098,174 9,212,397 127,538,055 167,789,726 148,827,423 31,926,609 9,155,301 129,485,977 161,066,594 149,768,293 33,064,575 9,244,953 132,427,178 150,517,844 34,022,490 9,311,868 137,112,937 151,190,203 34,611,069 9,221,504 189,544,680 152,828,731 35,301,778 9,237,206 142,034,051 154,855,704 85,588,486 9,356,635 143,347,841 158,278,552 35,640,982 9,454,806 141,971,741 158,435,859 36,138,928 9,645,965 142,663,036 154,074,880 157,828,513 37,125,245 9,719,126 144,991,062 155,813,245 158,299,288 37,863,037 9,789,060 148,680,453 179,681,651 160,161,046 37,592,551 9,800,723 153,291,851 196,879,068 165,057,113 38,325,587 9,900,112 157,944,771 289,013,452 169,675,009 39,263,086 9,880,050 162,965,264 243,083,030 172,512,085 38,759,256 9,907,529 164,337,458 255,444,122 174,879,346 37,453,531 9,878,240 164,497,972 245,940,203 176,847,576 37,980,436 9,848,267 167,435,267 213,246,542 176,700,515 38,794,768 9,732,860 165,959,654 214,294,818 178,786,683 39,348,947 9,840,991 164,066,604 234,494,032

MASSACHUSETTS BANK RETURNS.

162,650,811 149,167,638

139,926 277

139,796,908

147,659,087

150,875,167

We give below a comparative table of the returns of the Massachusetts banks out of Boston. There is, in the returns, an increase in the circulation of $5,979,655 since April last. The circulation of all the Massachusetts banks, compared with the circulation of April last, is as follows: