The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-23

into the Treasury Of operation would have
other for showing bank: ninety days which
:ss r u. sas Sss
s + a ss
and as general rule win % worth more than Par ri.
e. s.f sV tie 90 si
s's
cen. conysrD!s into gSa momsn. YSsrStcss
Ssh. WIN prc:pss is being lower
G% e3S
q: 9ns Ssy q q s s
nc you'd iosEEs s
% sss
ss
in which could have
Sya s the only Ss Sc ss
, much Of Tho has been
M: sSuTwTIL The Sr.t sssSsOSSo S.. bean actually
si$sSoSSsS rsssSss ssssaS y ss I
ss1S: Into rs ses ps;sss
W Dc hs opoe e me Sn s
s 81 0 sna
wiz SC: that ws cannot % nore ~, -
Mr.. BoUTwELL-Ths banks exchauged per cents for
FINKsLNnEna- tho notice Of ninety days fixed by
.a a.. sss %Sn til.
% e s NJ
opportunIs putting questions desired w
=: NJ s1a e
worls However MIN additional QUESTIONS ana
ton allowing rsasonabo interest upon the money remaining
Mr.. BOUTWELL, cannot answer you how much money
Mr. CoxThey reserved interest money left in their
| with banks which have three months time.
%a aa a'0' deem tenn
ELL suppose to the extent Of $lsoooooo
coS~you consider fair construction Of the law to
r.
nS0y
@ sa s e. S ff cent
MI Ocxso you consider impossible to execute the law
construction have given IT, and think the only ics
%
Nj BoUTwHLL-we DO business with the banks, and
4. 'eS as
forty-ath section the Banking law consider that the
Ia. BEEN 81 mn
predecessors In negotiating all loans during since
The nss,s: which
addition the Of one per cent given them for the
NJ precisely look 4
hers are
sss 9y
money ha SS1H.
n Poe. the save or lose BY deposit
Mr boutwell,. saves; there I. no doubt the govern
tn.
| get interest on Its dePosts2
sd ana pay interest: .hss
vG s % the % s the %
work IN one and another which could not % done ~
s ss'
r'f s Ss
s:s :ss :;
S ssS Z. :ssi t;ss :
Be ss: sSS sa canoe. s.
a ss 81 g a s s Syas nj
sis ~ ssii
ssss I'd sosss Even ].
Soslss given for til. rs.:e.
that until the issue: Of the hvswsny bonds tho bonds Of the
date there therefore, for the course we
Mr. Cox-Doe: the SYNDICATE any commission
'eGGs r .1 BoT wv alse Whatever
Mr. Cox-What do you mean BY syndicatef
nected Win them in sSs country and IN Europe DON'T
you tell what will cost to put these bonds
Mr.. BoUTwKIL-one-haif of one per cent, but may say
that from The begDns Of the seyernmsns Snt now one PEI
market By The Secretary Of The Treasury. 49,
s ns M Ss
w. porwv,, ~. c,,,.o. x,s ros .or.r -. 1891. "a.
report, and have never read it, -. $50 -'''' -
mr. Pr s,
PyrpO,s Of paying f0T the SSns.y 49,. 49,,
's'n
NJ CoxCan you ts what has been the expense Of ad.
1SsS expense ba. been very arss could
NJ SSS5iS sa ~ abroad " well as homer
Hr coxHow much did you save BY this arrangement of
a. e:s hzs ss s nS L m, did
SS:s IA
Mr Cox-Dd include IN that the loss to the govern
Mr.. BouTwEIL.i did not If consider the loss Q,
ns non%ps
one per cent allowed by law as the cost OF negotiating
Mr. Cox--Do you no. believe that th, law should be
win ..S you $. S how % sS9s
mites he p should opinion
Ts Sass S e s%
out constituting any Of It's provisions mpropery and " this
On with the negotiation of the loan both for the five CENTS
the four and onehaf per cents and the four per cents with
legislation, and this despatch which have from
Mr. Richardson VIII you the facts on which make
that statement.
Mr. Cox-Then you do not want any further lessationi
Mr. BOUTwELL-l do not ask for any further legislation
II the Committee Of Congress thinks proceeding prop
ery You cannot possibly negotiate the loan at less
the FIVE cent bonds, and
half per the four and onehalf cent bonds and
per cent per cent bonds unless the business
through the banks continued In the way pointed out
wish g add that every case ana a. all times The
OF subscriptions equal amount Of government
bonds.
Report of the Committee.
The Committee Of Ways and Means, to whom