The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-08
THIN NATIONAL FINANCES.
Letter from United States Assistant Treasurer
Van Dyck.

CertncateS OF Indebtedness. loo, too,uW
me ana TWO year notes. ov,sos'.oo
compound interest notes. go
SeVen-tnrty notes. ooo'ooo'Ooo
Ao'ai.....
of these obligations, considerable amount was
payable ON demand, and none extended oeyohu
three years from their date Of issue. Much sonctude
was eit on the subjec many predictions OF pecuni
ary disaster were ut cred, much OF gratuitous aoVco
ana not little Of. abuse was showered upon inc
oincers OF the Tr sasury. Yet within the time re-
qured this enor raous amount Of impending obliga-
ton has been al most entirely liqudated changed
into long loans, SO that there remain to be pro-
vided for
compound in' crest notes. ............ S. 5l,e30
Serlncates three per cent. ......... 90 2ao ooo
Mutuleu oep not presented. lzaso,I4o
Total....( $50, 022, 173
All this payment, purchase and exchange, involv.
ing nces SAINT labor vigilance and responsibility, has
oeen cav red through with scarcely the slightest dis
turbng influence on the monetary or business inte-
rest o the country. While claiming no particular
prais for these results accomplished under trying
Giro INSTANCES incident to the deranged state OF the
cur rency and the business depression resulting from
M shield the os
ury from continued reproach, even Y they did not
enttle them to the confidence and gratitude OF the
On the ist Of August last the Treasury held
in coin and sSs In currency "a on
Ss2, &c, COL, while the currency had decreased to
Si6'sno7o. OF this amount So s4b ses in coin and
There was at tbs time standing on the books Of this
once to the credit Of disbursng oicerA subject TO
| Immediate draft, $16, 05S, 500. There was the ad-
aona liability sSa 600 Of three Ess cent mt Ger;
tincates payable on demand, and $a2 ooo, 600 OF
the Ssesssy IN Of %ens ods
acquisitions on the Treasury IN the expendL
sSSsa Both the Secretary and myself viewed
this condition Of the Treasury with apprehension.
was no resource for replenshing the Treasury
in the sale Of bonds issued IN lieu Of seve n,
the q SG' on ye currency balance at
probdRSty that 4
cents would be presented for redemption preparatory
ss was 1t this e
| gold was commenced and continued up 70 the SOtn
September during which time was solo s6,a
| period-with the exception OF the last dhy-money
commanded only four and i've per cent en- call 10, on
drawal OF several millions in illegal te1ldcr notes
and the s ealing n s Of gSa
perceived the sale Of gold was suspend' a. nor has it
Il is made subject Of complaint thit the secre-
tary did not sell gold when it was at 15o The an,
swer is that no opportunity for 80 doing has existed
in need OF such AID Had gold been sold IN anticipa
ton and large currency reserve appeared at the
cutlery from Wall street and its gans against dis,
urbng the market BY locking up gree hn &c
we have an irredeemabe currel ICY and unsettled
credit who tell this week wha may be the price
| Of coin or bonds at the next9
Il is cheap wisdom that take V its stancl on the
past, and in view OF its revelation funinars cen
| sures against what has been done or omitted The
Treasury finds itself In possession larger amount
~ osn ar a = q an meet e
to whom the trust is committed to allege or inssn
that they are not . % @ s
sirs as psled he eoDa eers s
;ensured for interference. II t subsequently axi-
ances they are mathematical for NOT getting tSe
in Che other BY bess
a. I'd in either event censured In the public prints
co IN 10 distracted In single month from the mar
ket by the payment OF duties, and only two millions
mn nifty and the aid OF the Treasury forthwith the
onl ,ers Of the Treasury denounced as In league
VIII, specn , or a. charlaans unworthy OF the
An honest difference OF opinion may exist as to
OF the government into currency. No plan has been
sugge.yted that is free IRON objection or liability to
sales In the open market, at the current price has
been adopted, because OF its convenience, its gen.
| opportunity for combinations TO reduce the price,
But whether so not there is palpable Injustice
mere suspicion, because the discharge OF their dn
ties brings them into collision with the selfish and
speculative interests that abound In Wall street.
The return OF i've millions OF legal tender notes to
The depostares from which they had been with |
speculative ODJectS, INDICATES the
frIlm whence the recent stringency arose. the |
ACTORS reasoned upon the presumption that the me-
dra val OF currency at critical period. Their own |
measvres were taken accordingly, with the intent OF
ment w the treasury They failed IN their sche%e
OF depression and profit, although they succeeded In
deny, with honest Indignation every allegation
OF conneeSion with or fayoritism toward any indi
Official duties. / have studiously abstained from
making the Treasury an instrument OF oppression or
profit 70 any , Or interests In
II has been my endeavor faithfully to subserye the
interest Of the government, without Interference
as Is my position, It was not sought by me- Respon.
sible, combining, thankess as It has proved to be,
out regret. But while faithfully endeavorna 70
discharge the duties imposed upon u.s. the best Of
have the right to ask the confidence and support OF
right minded citizens however we may share in the
denupcations Of the selfish and venal
Ii. II. VAN DYCK, Assistant Treasurer
Lecture on the National Finances Before
the National Club by Mr.. George OpdyIse.
''The Financial Issues OF the Present Canvass was
the subject OF elaborate address, delivered by Mr.
George 0pdyke, last evening before the members OF
the National Club at the club house. Union square,
The speaker was introduced with few appropriate
remarks by General william II. Anthem, presiding
and after admitting that there were graver political
issues involved In the present canvass, emanatng
from the Numerically opposite policies enunciated BY
the two parties briefly stated they were, the one
side, equality, fraternity, order and peace under the
Presidency OF one whose patriotism has been "tred
in nren and whose sound judgment and practical
wisdom are acknowledged by all mem or, on the
other hand dscord, anarchy, threatened revolution
and perhaps renewal OF civil war under the Pres-
dency Of Seymour. The Democratic Convention !.
seemed to have felt that party that would support
such monstrous political heresies as their platform y
would require financial plank equally n
bad and proposed to repudIate the public debt In h