The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-10-09
Prepayment Of November Interest by the
Secretary Of the Treasury.
Important Rulings by Treasurer
Spinner.
REDEMPTION Of THE SMALL COINS,
WASHINGTON, Oct. 8, 1871.

dipOmatiSt OF large experience, having Hiicu ,hc
post OF Minister to Buenos Ayres during the recent
contest OF the allies with President Lopez with
great accep,ability. Mr.. Maganaens now goes to
that government, the two Ministers changing
places
The Bra lillian Member Of the Geneva Arbi-
tvation committee.
Important news has been received here from Bra
I'll explaining why the arbitrator to be named by
the Emperor as member OF the Geneva Conference
had not been appointed. II the appointment had
been made previous TO the adjournment OF the
Chamber or Deputies the arbitrator might
have been required to explain the instructions
under which he was to act rs a member OF the
Board or Arbitration. The Chamber did not adjourn
TIL the Sd Of September, ana 1t is probable the ap.
pointment was made Immediately after It's adjourn
mcnt. The news VIII be brought probably by the
mail which left aio Jancro the Goth, and we may
expect to hear the name OF the arbitrator iii a lew
days either by the New YORK or Lisbon steamer.
The persons most prominently mentioned In connec-
ton with the appointment are those Of Senator Wis
count OF Itab0rahy, The last Premier, and Senator
Torres Homen, recently Minister OF France. states
man and not a diplomat vii. be appointed, ana there
little doubt the Emperors choice will prove to be
the first named OF these two eminent Brazillans.
Secretary Fish md the Premiership.
Aslatement was recently published that Secretary
Fish lately informed an official colleague that he
intended to retire from the Cabinet after the fan
elections or words 10 that effect The statement Is
incorrect. Mr.. Fish has expressed no such deter
minaton. IL is known the President has repeatedly
said no was reluctant to part with the Secretary,
who remains IN the cabinet for this reason and not
from personal considerations.
Prepayment Of the November Interest.
The Secretary OF the Treasury has directed the
Treasurer and Assistant Treasurers to pay NoveM-
Der coupons upon rebate OF interest to October 25
ana on and after that day to pay interest due No
vembcr without rebate.
Rulings by Treasurer spinner.
The following the recent rulings OF the Treas
urer OF the United States:-
National banks not designated as repositories arc
not required, either by law regulation, to redeem
either deiacei or muJlatcd currency OF the United
states. Printed diagrams Tor measuring mutilatcd
currency are furnished gratutously ny the Trcasu-
No base metal coins are now redeemed at the
Treasury. The base metal c0lnage Of every descrp
ton is redeemable at the United States Mint at
philadelphia III sums OF $40 and upward, on the
terms set ortn in circular IRON the secretary Of
Proof must be ad1uced by AFFIDAVIT That the
missing arsi to Of no aasa legal
have been totally destroyed, and the cause and
manner Of destruction must be stated before inc
notes will te redeemed Tor their full face value Tho
character of the afiiant be certified by magis
tratc or other public officer.
An Onlcef OIL a bank giving q power OF attorney
to collect Interest ION stocks OF the United States
should send with the power certified copy Of the
resolution Of the board from which he derives au.
tno ity.
The application OF q national bank to have its
office as a depository revoked should be addressed
TO the secretary oi the Treasury The rue In force
requires an examination or the bank depOsitors'
account by some person to be designated by tho
Secretary ana the payment OF any balance due the
Treasury, which may be shown upon such recon-
mendation before bonds OF the bank III the Urea.
surers custody as security Tor the safe keeping OF
delivered.
The number Of coupons OF United States bonds IL
30 great that the Treasurer cannot undertake to
stop payment on any particular coupons and even
enforced against an innocent holder OF the coupons.
Money borrowed by a national bank on securities
or on bills payable would not be subject to semi
annual duty rs n part Of It's deposits; but money
standing on It's books TO the credit and subject to
the draft OF any party Is dutiabe as deposit, no
matter how or from whom IL may have been Dor-
The Post once Department does not report to the
Treasurer the result Of its investigation OF the loss
OF muiilated currency mailed to hn for redemption.
The rule that postmasters and internal revenue
Collectors and their deputies may remit defaced aud
mutlaed United States currency by express to the
Treasurer for redemption in sums OF one hundred
tances of one thousand dollars. The officers
mentioned usually remit in small amounts, aud one
they could send free; but when they remit In
sums OF $1,000 or more, the excess Is treated In
the same manner as reinittances less than $1,000.
The express charges paid thereon by the Depart
menr are deducted from the return for the remit
tances. The government contract with the express
company IL for transportation Of 81 900 or the mul
tiple thereof.
Tne Treasurer cannot make two receipts for semi
annual duty due from a national bank--one for part
as the duty to a party from whom The bank pur-
chased stock The other for the remainder to the
bank He can make only one receipt and mat 20 the
bank from which the duty has been reclaimed as
he cannot take Official cognizance Of any outside
transactions in relation to the matter.
Bills OF the republic OF Texas were formerly re-
deemaDle by the United States, but the time within
which they must have been presented IN order TO
N al NJ a. N
AIRY /, 1861. Payment can now be made only by
virtue OF special act OF congress.
The Treasuier's onice does not acknowledge the
receipt OF currency forwarded for exchange as
generally the return would arrive as soon as the
acknowledgment
There is no provision Of law for the redemption OF
silver three cent pieces.
separate account OF subscription should be kept
by national banks designated 10y the Secretary OF |
the Treasury to hold coin deposits on account OF the
the Treasurers Office, with the principal and inter-
est stated therein separately.
public officer cannot depute the duties OF his Of
fee to attorney. The trlst as expressed in the
commission Is u personal one, rcposed In the otcer,
and cannot be delegated to another without author
lty oil law.
Unjust ExaciiODs OF the Pension Laws.
The First and Second ComptroIlers and the Third
Auditor were In conference yesterday with Secretary
Boutwell, discussing the construction to be placed
upon the sections In The Appropriation act OF July
H. 1870, which heretofore have been construed by
the Secretary as requiring pension agents TO file |
two sets OF vouchers when payment was made OF a |
pension extending from one fiscal year to another.
Pensioners have complained that they were sub
jected to the payment OF fees not required by law
on account OF the strict construction OF the sec.
lions OF the act forbiddlng the payment OF
money appropriated In one fiscal year for
settling accounts In the following fiscal
year. secretary Boutwell, admitted that the law
operated unustly; but the provisions had been 50
thoroughly examined by the law officers OF the gov
ana but one conclusion having been
reached and That the only one in force since the
passage of the act, ne could not consent to
change In the orders governing the discussing
onccrs. The law was nnexlble and could only be
modified by Congress, and he would recommend
q 10 ls an