The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-11-10

Net ndebness 295 81 si2 s25jl 3lp Oo5
In the interest-bearng line, the Five.twenties
now form SS23, ,944 900, including ssh 7SO 500 of
the original or 1862 issue, SlOO, 900. 900 of the
issue oil 1864, SlS3, $751; $50 Of the first 1865 issue
MAY and Noycmber), and S25 78l $50 OF the
Iecohd (Cr consolidated) 1866 issue duly and
january. The six per cents. OF 1881 now
amount TO S283 739, $50, against S2S3. 73S, $50 a
month ago. These. with the Sl7l ,O6g, 800 of
Ien-toTt"s, constitute the bulk OF the coin
bearing portion OF the debt The three series
Oh the Seventhir'y currency loan have been
Ieuuced, by conversions, 10 S724, ,Ol4, 800 from
St4J,996,O5O month ago, or Sl9, ,9SI, $50, making
total reduCtiOnin the Seyen-thIrty line (mainIy
OF une nrst, or August issue, maturing i'm nine
months) nearly one hundred and SIX millions
rom the aggregate issue OF eight hundred and
thfty millions through the Government Loan
agency.
Seven millions of compound-interest notes
speedily maturing, have been redeemed, within
rae month, by conversions into FWe.twenties
OF tne consolidated form, leaving the outstand-
ing issue Sl4S, S,5l2, lao, against Sl555l2 l4O ou
tue 3Oth OF September. The Six per cent cur
rency bonds, issued iu aid OF the various Pacific
hallI DAD enterprises, have grown TO SO, ,SS2, ,000
from SS,922,00U month aeo. On the lst of Oc-
tober, there remained in the Treasury S22 500 OOn
OF mterestbearing deposits belonging to private
deposltors. This amount has all been paid off
Ihen ire non-interest bearing deposits on private
account were S23, ,302, ,372; they have been since
augmented to S36, 9eS, 800, showing that 'some.
body" prefers our venerable Uncle as d custo.
oian oil money which is making no income for
The owners.
Legal-tender notes TO the amount of SIS. .9G9 517
have been withdrawn from circulation and
cancelled during the month leaving the OUT
standing volume OF lawful money $780, 1876 7S6,
against $500, l65,2 292 a month ago Tins is n
very significant and opportune movement in
the direction of paper money contraction and
consequently Of the restoration of the clrcuIat.
ing medium Of the cOntry TO Il specie basis
which is the fixed aim OF the Secretary in ali
his negotiations as clearly set forth IN his last
annual report, and since as steadily adhered
10 as was compatible with the ciIcum stances
and interests of the Treasury and the legal
authority and privileges OF the chief fiscal agent
OF the Government.
Now that the short-date interest bearing
national obligations are being vigorously cut
down, and that the revenues from customs and
eXclses keep up so encouraginglY, steady, pru-
dent headway is being and will continue to be
made in diminishing the currency inhation, in
lessenng the facilities for purely speculative
operations in gold, stocks, produce, and mer-
chandlse, and improving the public credit, as
represented by the lawful circulating medium.
As the latter approXimates the specie standard,
Government, as well as private incomes, VIII
increase IN purchasing power, which will vastly
augment the aggregate OF annual savings. indi-
vidual and national, and develop immeasurably
the capacity TO meet and provide tor all our OBJ
legations.
Commercial values based on deprecated
paper currency, must adjust themselves to the
inevitable hard-money standard, and thus
facilitate the onward march 10 the resumption
of specie payments. The more gradual this
change is made, the more assured VIII be the
progress from imitation to complete solyenCy
and the more thoroughly beneficial will be the
results. Secretary McCuloch, while earnestly
desiring, and as earnestly striving or the resto-
ration OF the specie Standard Is studous to
avoid any line OF Conduct which would be likely
10 bring about sudden monetary crlss, which
would paralyZe the industry and commerce of
the country, sweep away AL sources OF revenue,
force the Department back again into the
market as a borrower and thus destroy not only
the good Wolk already accomplished, but the
frightening prospects before u.s. DoStpOning
indefinitely the attainment OF the end which
everybody ierVently prays for aS the essential
complement of the triumph OF the nation over
its enemies, foreign and domestic.
The aggregate legal-tender circulation is now
S63e, ,7O7 925, against S5ji 677 432 on the LIST ult
showing decrease OF SIS 969 bO7 including the
converted compound interest notes. The plain
RTeenDack circulation on June | was St02-
l2S,3lS; August /. $780, 3Gl, ,72S; September /
S399, ,603, ,592; October $500 lG5 299; and Noyen.
ber l, $3.50, ,l95,7S5
The matured debt on which interest has
ceased but which has not beeu presented for
payment, has grown from $50, 500. .ST2 n month
back to $36,9SS,9 909 Tins amount awaits
the call of the public creditors, who do moi
seem TO be in hurry 10 demand it,
The cash reserve III ihe Treasure, according
to each OF the last two monthly exhibits, COM
parps thus:--
CASH ~ THE TREASURY
co,u Oct; ], 1855 Nov. !, 1866.