The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-04

Suspended unpaid acquisitions. .... lii ESQ 64s
United States notes llega tendcrs) 433 100 500
rraclonA currency .................... "a ,094
2.42a, 4s7, 0o2
Cash in the Treasury observation-disclosures. 5s,4si,s
Total. So ses o55 OF
The OF the Treasury consisted Of the
In tho public repositories in different parts Of the
try amounting above stated, TO S56,Asl 924; the
revenues from internal and customs duties and
Che authority to issue bonds notes aud certificates
under tho following acts 10 the following amouns:--
Act Of February Is, 1852 bonds ....... 81 023 600
Act OF March s. 1854 bonds. ............ "a 22900
Act OF June 80, 1854, bonds. 7 80 compound
CertIncates for temporary loans. act June 3d.
1854. s7,54s,471
loans, act July IL, 1862. Ia, $50 431
fractional currency act June so, 1864 25. 745 eos
Act oil March ., 1865, bonds or Interest bear
i's
Making total Of. 7s4 7sa, sos
Certificates Of indebtedness, payable year from
date earlier at the option OF the government bearing
issued to an indefinite amount, but only public cred
tors desirous OF receiving them in satisfaction audited
AUD settled demands against the United States
Early in April. the fail Richmond and the surrender
OF the forces which mad so long defended 1t Il
provision must be made for the payment Of tho army
The earliest practicable moment
The EFFICIENCY was great and the prospect OF raising
the money required meet the present prospective
demands upon tho treasury, under the laws then exist
ing, was sufficiently discouragmg to create solcitude
ana anxiety In the mind OF secretary Ii tile experienced
In public affairs upon whom the responsibility OF main
tanning the credit OF the nation had been Unexpectedly
deyoived There was time to try experiments to
correct errors II any had committed in the kind
Of securities which had been put upon the market
Creditors were mportnnate the unpaid acquisitions in
The department we're largely in OF the In
the Treasury tho vouchers contractors for the
necessary supplies OF the army and navy being
sold At from ten TO twenty per misunderstanding
by their citation how uncertain the prospect OF
carly payment--whe nearly a million of men
soon TO be discharged from service who could not be
mustered out until tho means pay the large balances
duo them provided There no alternative but
money SUBSCRIPTION i
securities of character the most acceptable to the
PIE, who had subscribed literally To previous loans
As a considerable amount OF the .even thirty notes
had recently been disposed OF satisfactorily By the de-
partmen. and had proved to DO the most popular
security ever offered 10 the people the secretary deter.
mined 10 rely upon them although on the part OF
eminent they wero in many respects objeccnable and
in order to insure speedy subscriptions TO pace hem
within the reach OF all VINO might DO willing to invest in
them In every city and town and village OF tie loyal
and At some points IN me cisloya States subscriptions
were solicited The press, with iis immense poweS and
energetic and SIX If agent who had charge the Ioan
The national banks gave efficient aid by liberal subscp
tions, while thousands Of persons In humble lite and
limited means hesta,ed to commit their substance
honor and good faith OF the government BEFORE
tne end OF July The lean, exceeding i've hundred
millions was subscribed and paid for and
the secretary was enabled with the proceeds, TO.
gether WIN tue reccp n ,on customs ,,n as1
extent of eome Of the other means al ms
disposal, to pay every rcaniscu upon the Treasury
of the necessity that existed for prompt action IN the
negotiation Of This loan ana the straits 70 which the
who examined carefully tie monthly statements OF the
department that although during the month OF April
upwards OF one hundred millions OF dollars had been
received from ths sales OF seventhrty notes. the un-
paid requisi,ions at lis close, had increased 10
the public repositories amounted only sl6 ss5 500 II
few entrusted with the management OF tho
emSarassps and trying as vas that Of the Secretary Of
the United States Treasury In the months OF April and
May, 1866, certainly were ever so happily and
promptly relieved The secretary refers to this period
OF his administration OF the department with pleasure.
because the OF this loan was to him not only
surprise and relci but because Indicated the
sources or the couuy ana him the needed courage
for tho performance OF tho great work that was before
setwcen the nrsl days o. Apn and September, 1865,
The Secretary used his authority to issue securities az
Bonds under tho act Of February IS 1862 s4o2s 600
Bonds under the act OF Juno co. 1884 5000. 0oC
Compound interest notes act June 80 1884 "a 97S 800
Certificates for temporary loans, AtJune 80,
Fractional currency. aci june 80 isea.. aooe sss
Seven thirty notes March 1868. b29,lS!, 2oO
se2o, e7e. 22s
On the sIst OF August, 1865, tho public debt reached
the highest point, and made up OF the following
ftome 10 wit
Funded debt. VI, 10y DOS Iel
Maureo dcoi ryVsv1o
Certificates Of Indebtedness. s5oe3ooO
Five per cent legal tender notes 80, pa go
Compound interest legal tender notes.. 2l7o24 I6o
scven-thry notes ..................... $50 OOooOu
uni,cd States Qegai ,enders). AIS loo 500
saspsOasa ' rsqsIsis,ons unc.sd
Total. g. ss5, POT 500
Deduct cash in Treasury ............... Ss,2ls055
or those obligations, 1t will be noticed $6s4, l3S $50
were legal tender, TO wit
United States notes. s4a3 leo 500
Five per cent notes. 81 e54, $50
Compound Interest notes. 2lT024, leo
toS4 los VoS
Avery large portion Of which were in circulation 40
money.
The temporary loans were payable IN thirty days from
the time of deposit, after . notice Of ten days.
The i've per cent notes payable In lawful money,
In one and two years from December l, 1864
The compound Interest notes were payable IN three
years from thor respective dates all becoming due be
tween the 10th day Of june 1867 and the 10th day q
October. 1865
The seven-thrty notes were payable, In about equa
proportions In August 1867, and Juno and July, ls6S
lawful al n nt thl