The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-21

Thus leaving the government the actual owner OF
only about fifteen and half million dollars on the
LIST day OF July, with an accrued and undue inter-
est ct that time amounting to nearly ten millions
OF dollars. And this is according to the ocial
Innate. The puzzling manner IN which the Treas
ury OF the United States conducts its operations
with the Syndicate is also . subject OF which the
American people yet remain in profound igno-
rance. The belief has gone abroad. and 1t is evil
IDENTITY not without foundation that the
EsTIMABLE BODY OF BANKERS
are kindly permitted deposit their checks in the
place Of the gold realized from their transactions
as representatives OF the government. and I'VE,
the people," are daily invited by the Washington
office to accept the statement that thirty-s or
thirynin millions represent actual gold instead OF
being partly made up OF the due bills OF those mer.
chants who are trading on the public credit Of the
nation. AS was recently published by a morning
contemporary, on the LIST OF June the Secretary re
ported the coin in the Treasury, after deductng
that belonging to private depostors at $45 49,
On July it reported at 4So47, 403 the certi-
bcates meanwhile having increased 1900, 900. The
Treasury had received during the month only
about $1l,Ooo,oOo from customs and had paid
out, in round numbers. 100000 for past
due interest, $1a0Oo,0o0 for nve-twenties
redeemed and 81 ooo 900 sold by the sub-Treasurer
in this city, making the total paid out $23 0OO
Now, how was 1t possible for the Treasury to pay
out $l20 90 900 more than 1t received, and, at the
same time gain So 000, 900 in its balancef "But
you must consider" some simple minded indi.
vidual may reply, that the Syndicate may have
paid for its bonds" Nothing of the kind. The
Syndicate could not have paid into the Treasury
so large sum as SIS, 600 without depicting tn.
New York banks OF their gold certificates, and so
far from losing gold the New York banks were
steadily
GAINING IN SPECIE
throughout the month Of June. In i've weeks
IRON May 81 to July s, their specie averages In
creased $4,000. 900. Not one-ffth OF that sum was
received overland from the mines and no gold at
all from Europe Substantially, the whole Of the
sum gained by the banks came from the Treasury
How, then, can we solve this Suspicious puzzle in
the Treasury bookkeepingf The solution Is clear
enough. The $500 900 rhereabovts In gold re-
quired to balance the Treasury account for ths
month Of June was supposed to be in the posses
sion Of the government at London. No one outside
the Ring can tell whether it really was or Is in the
hands OF the government or in those of the Synd
cate Most likely it is still actually, II not tech
nically, in the keeping OF the Syndicate.
II Is nothing that the coin certificates may ut
any time be presented for redemption and exhaust
the Treasury The grand, salient fact always TO be
borne IN mind BY the business community is that
| II all
THB OLD STOCKINGS
In the United States were emptied OF their gold TO-
| day the sum total would probably not reach
seventy.nvc millions Of dollars or one per cent OF
| the paper circulation OF the country. In fact, II
| the real weakness Of the Treasury In this matter
! was fully understood and appreciated there ID not
| an importer in New York who would not have al
| ready secured gold sufficient Tor his busi
| ness requirements and to weather an emer-
| gency that, sooner OF later 10 in
| evitable. At the present time there
is not enough OF gold in the banks or elsewhere,
| lit should BIZ sudsenly needed, to "go around"
while government IL ct the mercy Of q handful Of
speculators VINO have 1t in their power to absorb
| every dollar that 1t puts upon the market, and
then for their own purposes stop 1t from che
try In 1851 1t is estimated that there were about
$780, Ooo 900 Of gold and silver In use as circulating
medium. Where is it to-day Gone-exported
and in process OF expectation, and we left with
| less real financial strength than even
POOR LITTLE FRANCE,
which is just now paying the last instruments Of Q