The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-04-02
BY TELEGRAPH,
Exclusively for the Register
By the Pacific and Atlantic Line.
once, llO Main Street.
WASAIN 6T0N.
WwsHINeroN, April l.
Busteed and Durelt.

" "cHSosNNt A PAA -
Busteed and Dureli.
! 1t is mentioned here, iu connection
with the administrations Of those emf
pent jurists, Durell of Louisiana, ant
Busted. OF Alabama, that in all tn.
proceedings in bankruptcy which have
been had IN their respective Courts. NO,
one cent OF dividends has ever yet been
made to creditors. 1t is suggested tina,
the contingent fund of these Courts mus
be enormous.
The Policy or tho New Secretary OF
| the Treasury.
The new Secretary Of the Treasury,
Judge Richardson, gave the first iEti-
nation OF what his policy with regard
to the sale o. gold and the purchase Of
bonds is to be, Yesterday, when he issu-
ed his programme for the month OF
April. His predecessor, Governor
Boutwell,, was in the habit of making
his purchase OF bonds about equal to his
sales OF gold. 1t is understood, how
ever, that q necessity exists for this
policy, which was unknown under
Boutwel''s administration; or at least
it had no existence until lsst fall
At that time a certain amount OF
the forty-fo four millions currency re-
serve was put in circulation. 1t has
never been entirely replaced. The action
of Congress at it's last session. though
not mandatory on this question, was
sufficiently explicite to Indicate that
turi her drafts upon the reserve would
provoke positive legislation. Accord
ing to the last public statement there
were about two millions five hundred
and seventy thousand dollars of
this reserve still out. 1t is understood
that the purpose of Secretary
R chsrdson is to replace this sum at the
earliest possible time. TO do'so he
will, O. course, be compelled to sell
As much gold as be can spare to help
to meet the current expenses OF the
Government. and purchase a les
amoInt OF bonds. This policy will ne
cessarily lead TO contraction, but that
appears % he the policy Tor the present,
at least, OF the Administration.
Some persons will, perhaps, be sur
prised to learn that during the last
year contraction has been carried on by
the Treasury Department to the extent
OF about thirty millions. This has been
done mainly by the redemption OF the
three.per-cent. certificates, and through
the operation Of ,he law redistributing
the National Bank currency.
1t is q popular i'm preston that the
act OF the Secretary Of the Treasury
has q marked effect upon the monetary
interests OF the country. Judge Rich
ardson is of the opinion that it is not
his orders to buy bonds or sell gold
that convulses Wall street, but the con-
dition OF the money market in Europe
and the amount OF imports.
Public Debt Statement
The following is the public deb,
statement. Debt bearing interest IN
coin and bonds at six per cent, 81 1874. :
TAI, $50 90; bond at five per cent, 4l4, :
SCI, 300 on, principal. 81, Jag, 3Oe,l $50 OO
interest, $3,l9O,OS4,237. Debt bearing
interest iu lawful money and certificate
Indebtedness at four per cent, $67S,OOO
Nayy pension fund at three per cent,
$I4 600 600 CO. certificate at three per
| cent. S65 OOO,OOO co. principal, $l5,-
32S, 900 OG interest, $lO9, 7O5 w
Debt on which interest has
ce ased since the maturity Of the
principal $303, 1903 026; interest 1928.
| 366 SO; debt bearing no interest, old
demand and legal tender notes $35S,-
59l, ,734.5O; certificates Of deposit $244,
4jO.ONO 10; fractional currency s45l,-
6U3,74 coin certificates 24l :
600 o.; principal s452. 852, los II; un-
claimed interest SIG, ,6O4 S42; total debt
principal s2220Ol.23aS interest
$3 236 55l. $50; total $2 253,77S SO;
cash in treasury coin .$6,953737 65s
currency $265. .Ss4.O43 amount
held for redemption $244,5OO 500
t,tsl 50 667 42l 7O2 Debt less coat in
ne Treasury. April lst, 1873 *2l5.57S,
664l56; on March Ist 1872, $2l5, 73o,
| O70,O53; decrease of debt during ihe
psst mon tn, $l,644, ,O5S,97; decrease OF
debt since April l.t, 1872, blank de-
crease OF debt from March 1t. 1869 u
March let, 1873, $50, 1903. 255, ,s4S; bonds
issued OF Pacific Railway Company the
interest payable In lawini money. prin-
cipal outstanding IS 462 35l ,2lO; IN
rest accrued aud notyet psidl$s6, $685.
3l2; interest paid by the United States
slS, ,5OO,92S 900; interest overpaid oy
trans portation, al .Ss4,076; balance o.
interest paid by the United States. 81
432 2,3S7, ,l22.
TENNESSEE.