The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-10-30
WASHINGTON.
1,reasur1 Rnlance..

Treasury Balances.
The following are the Treasury balances to-
day: Currency 81 558 1923: special deposits of le-
gal tenders for redemption of certificates of de-
S27 900 n coin certificates; outstanding legal
tenders $3.50, 2S8 1888.
Payment of Silver Coin,
WASHINGTON, Oct 80 AS there appears to
be some Misrepresentation on the part of the
public in relation to the purpose of the govern
mept in paying out silver coin, the following
explanation has been furnished by direction of
the mint: ''In this, as in other countries where
gold is the sole standard or measure of value.
silver coins are overvalued for the purpose of
rendering them ineXpOrtable. They are manu-
featured and issued on government account,
law however, placing directly or indirectly, a
limit on the issue to prevent redundancy. If
issued in time of specie payment beyond the
requirements of the public for change, snch
coin will not maintain its purchasing power
with the standard coins Owing to various
causes in this and other countries, silver has
declined in value to point at which the gov
eminent can purchase it with gold, manufac-
ture 1T into small coin and pay it out at fair
profit. The government has recently purchas-
ed quantity of silver bullion sufficient for it's
purposes at twelve cents per standard ounce,
and will manufacture iG into coin at a fixed le-
gal rate of $1N 4-10 cents per ounce, the differ
ence between the purchasing and issuing rate
being within fraction of twelve cents per
ounce OF ABOUT Ten anu One-ndlI per cent on the
gold coin paid in the purchase. This operation
is believed to be more profitable one for the
Treasury and also more advantageous to: the
public in the present condition of the money
market than the sale of gold for legal tender
notes and is not a scheme forl resumption for
specie payments but simply acompliance with
the mint laws. A dollar in United States cur
rency will purchase little more gold in the
market than dollar in silver coin, Dollars
will therefore soon find their level and unless
there be rise in both the prices of gold and
silver small coins must circulate concurrently
with paper money. The government has il
the possession of the Assistant Treasurer about
$500, 900 in silver coin, and at the mint and AS
say offices in silver bullion and coin about 81
100000. This stock is ample for the present,
This mode of paying out silver coin will be con-
tinued till circumstances shall dictate contra
ry course as proper. The government will exact
full seigniorage required by law. but will not
undertake to control the disposition of the coin
after it is paid. The coin will then become the
property Of its holders who do what they please
with it, This course was not decided upon I'M
til it had been fully considered by the Secre-
tary of the Treasury.
Murder of Negroes.
Marshal O'Chiltree of the eastern Texas dis
trict, furnishes an account of the murder of
two peaceable negroes by what is known as the
Roam gang, an organization of desperadoes,
Further trouble is expected between the negroes
anu tne SauS.
Military Appointment.
Gen Phillip ST. George Cooke, now in com
mand of the Department of the Lakes is placed
on the retired list. Gen Geo. Crook, now in
command of the Department of Arizonv, is ap-
pointed Brig. General, vice Cooke retired. The
Department of the Lakes and Department of
the East have been abolished and the command
is now simply military division of the Allan
tic, commanded by Gen. Hancock.
Big Indians.
A delegation of Grow Indian Chiefs who have
been here several days, had final "pow WOW"
this afternoon with the Commissioner of Indian
Affairs. and after considerable talk and objec
ton acceded TO his proposition for sett ling their
grievances. They wanted their reservation in
Montana enlargedeand the Commissioner prom
ised to recommend to Congress an extension of
their reservation. They demanded to be paid
on account money due them $4,000 cash when
here, but finally were content with $50 in silver
to each one. They particularly insisted that
their former agent be reinstated but this was
positively refused. They mentioned as one of
their reasons for preferring the former agent
that he used to give them flour by the bag,
whereas the present agent deals it out with
shovel.
The President has accepted the invitation of
the Trustees of the American Museum of Nat
ural History in Central Park. New York, to lay
the corner stone of the great fire proof ediice
now in process of erection for the permanent
occupation of the Museum.