The New York herald., 1871-01-01
Secretary Boutwel,r.s Defence Of
His Finan, ,.fal Policy.
Coin and currency Balances in
the Treasury.
amount Of United States Currency
in Circulation.
NEW NATIONAL BANKS ORGANIZED
wAsniSGros, Dec. IN, isra
secretary Bsursss'. Defence ss tii- finas-
efal Folisy.


SECRETARY Bs~r~sr- D~naee ss us- Finas-
eisl peiisy.
The Secretary 81 the Treasury seems 10 te much
amused al the newspaper criticism, INDUCED "a -
freely OF late concerning his policy u boarding. gold
and ereenbsckx He asserts tnsl his critics are
ignorant OF the facts whlch they discuss. and are
not aware az tae condition 81 The Treasury His
policy. he says. n nos 10 hoard any more Than IN
Necessary 10 meet the pntlc ohligsiIons and keep
hin fron gong upon me markst 10 borrow. By
the act n Congress passed Al the last sesssoa
TO provide additional hahking facilities ana
for Vtber purposes the secretary of Ne
Treasury 10 Obliged 10 redeem the three
per cent certificates A. fast ~ me circamien is
issued 10 the national banks Ths s for the parpose
OF preventing innation- Pour nssiions % national
currency have been issued 10 tnc national banks up
10 the ist q December and tive miilions sncs max.
ING IN all ak millions. An equal amount oi three
per cents haa, according 10 the law be redeemed
IN greenoacks n wa be seen from this that the
currency balance Of the Secretary was well EN-.
ployed. ON the lsi of January, isos the esin
balance IN the Treasury seventy millions aud
the currency balance eight millions. The amount
on hand at the present time ~ eighty Millions OF
gold and twentyicur millions of currency. Tins ap.
pears 70 be large balance OF both currency and
gold. The Comptroller uf the Currency states that
there arc applications for circulating notes from
national banks under the recent act of Congress 10
the amount OF thirty millions or this sum ne thinks
that 81 least fifteen nlllions win be granted or, IN
other words, that enough banks VIII comply with
the requirements OF the act ~ Congress TO secure
the Issue OF $4,000, 600 IN currency. thus every
million Of dollars issued 20 the nafioaal hanks VIII
require the purchase OF an equal amount Of three
per cents, the money for which 4 70 come out of
the currency balance on hand IN the Treasury De-
4
be required to pay out s52 Of gold for inie
rest on the public debt Resides tnis there are
slo,oooooo OF gold belonging to interest on
the public debt which has not been paid, bat which
is liable 10 be called for any time making In an
fortytwo millions our OF the eighty millions wcn T.
as good as paid out. After the lst OF January the
gold balance win not pe large owing 70 the fact
that the receipts from customs Will be less under the
new tarir which goes into enect In view Of these
facts the Secretary does not MS way clear to
change the policy which he has heretofore pursued.
Another OF President Grant. Mistakes.
1t is understood that upon rejection PresIden,
Grant regrets issuing the order dispensing with the
receptions on New Years Day. II Is proper TO state
that the President decided upon this matter without,
consulting Secretary Belknap or any member OF the
Cabinet
A French Fair.
Some OF the leading ladies' OF this cify among
whom are Corcele Marquise de Chambrun, MIS-
General Sherman, Mrs Admiral Dahlgren Mrs. Ad-
miraI Lee Mrs. Judge Dent and Mrs s. 5. Cox
have organized themselves int a benevolent so
ciey to get up charity fair for the benent Of the
wounded. widows and orphans OF the French
army. They have issued the following circular
WASHINGTON, December, 1870.
The suferings OF other nations have appealed
in vain to the American public The popular heart
Of America, enriched by afluent streams from
every nationality. beats quick with sympathy at the
sight tOf sorrow and affiiction IN other lands
and acknowledges in mutual grief the common
origln and destiny OF mankind. But all our
feelings more intensely engaged when
we contemplate the woes and disasters OF
people to whom our forefathers owed much in
the contest for independence, and TO whom We now,
in common with the world, are so largely indebted
for the highest achievements in the and sciences
that improve our race During the last four months
France has suffered unspeakable distress and pr-
vat1ons the peaceful peasantry the women and
children OF her Provinces reduced to the verge
OF famine, while the sufferings OF the soldiers, under
the deadly implements Of improved warfare have
been immensely aggravated. II Is for the relief OF
this afffcted people we now appeal to the public.
We wish TO emulate in city the labor Of human
1y so noDy commenced IN other cities OF the Union.
by holding, in the month or January, fair fer the
benefit OF the wounded, the widows and the or
phans OF the French army. We invoke the help OF
all charitable hearts TO this work, and earnestly
licit their aid by the contribution OF money or OF
goods.
This fair will last for two weeks commencing on