The New York herald., 1868-03-02

August. 1885, the unfundsd debt had Increased 70
81 ysS 900 600 and the funded debt ST. 00o oOo
making total OF S. s45 600 0oO The currency had at
the same time been reduced to $780, 900 by the
withdrawal or interest bearing notes. tho temporary
posits and certificates Of Indebtedness S1o2
and the suspended requistons to about 81 o00 900.
while the balance in the Treasury had increased to
1000 900. A hundred and twelve millions OF sus-
pended rsquissns and thiry-two millions OF tempo
rary leans had been paid or while four hundred and
thirteen millions Of claims had been presented and
discharged within the SIX months following April
l, 1885, more than eight hundred millions
having been meanwhile raised and dsbursed
for these purposes. Tho government obtained
the means necessary to this achievement BY the sale Of
ssven-thry notes. Of which about eight hundred and
thirty millions were issued but only two hundred and
afteen millions Of these renamed uufundsd on tho Ist
OF February last What was done in tho interval
between March, 1885, and the lst OF February In the
present year. is shown by comparison OF the state
msnts Of the public debt for the two periods On the
lst ult the funded debt had been Increased to
81 93A, 000 900, while the unfunded debt had been
reduced to 00o and the aggregate OF the debt
itself to So 65I 100000 The interest bearing legal
tender notes had been reduced to &A8 00o 900, the
amount OF United States to $3.50 600 o00 and the
temporary loan certificates to s2e 00O O00 while the
balance IN the Treasury had been Increased to
$l24 900 00o therefore follows that between the
31st OF March, 1855, and the LIST Of last month.
1884, 900 Of floating obligations funded into
gold bea ring bonds while the aggregate Of the ununded
debt was reduced to the extent g. OF 5000 900, 000
and the total OF the funded and unfunded debt tho
amount Of $22s, 1000 900. Considering the dsordsred
and to many the almost hopeless condition Of the
finances in the beginning Of 1866 Ia surprising that
90 much should have been accomplished within tho
space OF three years. and that the financial condition
Of the country is no worse than now ind II. The
conversion Of the seveathrty notes sill outstanding
into hvetwenty bonds Is likely to progress satisfactorily
II Of disturbing character Is authorized by
Congress- and there good suppose that there
Will not be- The country needs period Of rest from
all further financial legislation and long at least
any portion Of the seven-thrty loan remains unrundsd
new funding scheme is required, while such bill
for consolidating the debt that introduced Senator
Sherman is extremely mschisvous and that II has
already exerted damaging effect upon the public credit
Is shown by the decline which has taken place in
government securities since the purport OF the bill in
question became known That will fail to pass either
Of the scheme has been productive OF dstrust, and the
sooner treceves its quistus the better
Annexed Is comparative statement showing the ship
ments Of specie from this port last week and during the
year to date together with those for the corresponding
periods in 1865 and 1867
1885. 1867. 1868.
Ninth week. ..:.... s75,45s s759, ,1s2 s55loo1
Prev. rsporsod.... 4s2s.oso l,Sos,a22 1o.592 lls