, 1875-07-24

aloner resign, the taxpayers will have reason
10 be thankful.
0URIosIT1E9 OF THE DEBT,
The amount Of fractional currency author-
lied by Inv Ia $4,000, 600, but the ciroula-
ton has nsvor, wo believe, exceeded $4G,-
suod, 1ess tho rcdcmptions, There have been
four issnes Of this currency, blast or fourth
issuo being intended To replace tho former is
H1es, which, ~ they aro received at the Trcas-
ury, are canccled, and now ones iasued In
their place. The fourth issue, wo think, be-
gun in 1865, no that ten yoars have passed
during which tho United Staten have been re-
deeuaing the older issuea From The state
ment Of the public debt wo find that at the
! dates given there wero outstanding Of tho
fractional currency M follows:
Jasssrs' ,s.s J.ir, J.ns,
a11st ,.,ns: .,32i't,e :35lxs : 4s;s.';s
1sa' 1ea''a '':as 's.s::: :s @ss $:s':s
r,r-t ,..ne .ne,...............s4 $3.50, ,.s:ss;s
xa1d xas *.ns: .. ,s33aTs ,9l64sa r.
ApAttA e&1a$htoS4
In tho threa yenrs and a l,alf since Janu-
ary, 1871, the total redemption Of tho first
issue las been but $51,918; Of the second
Issue, G,0t6, and Of the third hss,.e,
~ ,h}1 ,9G4, leaving d tho three issuoa out
standing $40, ,682 ,s29. It is moro thHn prob
ablo that, Of the first issue, four millions have
been lost aud destroyed, Of tho second iasue
two and half millions, and Of the third
iasuo two millions, making an aggregate Of
st. .5o0. 600 Of these three Issues. Allowing
two millions and q half Of the fourth issue
thnt will newer be returned for redemption,
tha aggregate Of this currency lost and de-
stzoyed in tito hands Of the people will be
81 ,000, 900.
On tho 1st Of July, 1870, there vsre in
clud6d in tho public debt ths following
isoms:
Dsbt rrsos t. 1857 including interest," &12, $40
Treasury notes p!o. TO ls4e... B,tu0
Trsssary noes ] Of Of II, ,,7... Observation-Disclosures. So SSD
Mexican indemnify stock, toek,.................,. 1la9
These itous Of dobts havo never been
claimed, md stand unchanged on the books
Of the Treasury. There are also q number
Of other items Of public dobt which eoem to
have been strangely neglected by the holders.
Thus, On tho 1st Of July, 1875, there were
outstanding Of the 5.30 bonds Of 1863,
called in by tho Government, md on which
interest coasod several years ago, no loas than
$10,3Gl, 400, on which thero was over $50, 900
Of unpaid interest, There was OF the Te1aa
indemnity stock, due in 1864, the sum Of
$172, 900 nevor claimed OF the one-year
notes which matuzed in 1865, over sec, 900
have never been presented md of the two
year notas, natured in 1866, there arc $4,000
still outstanding. OF Tie oompound.intarest
notes which bocame due in 1868, thcro aro
$3G7, 800, with 200 accrued intorcst,
which have never been presented for pay
mont About $50, GOO were presented during
the last year. No less than 100000 princi-
pal and $14, 600 interest of tho 7-S0 notes
which maturol in 1868 aro still outstanding
The first Treasury notes iasued during the
War weEn those under the act Of 1861,
known az the demand notes, payable in coin,
and Of those there are $4,000 Jet ontstand-
ing. against $78,000 year ago. OF the tam
porary loan made in 1854, Which matured in
1866, there are bonds to tie amount of $780,.
GOO which have never BEEN presented to the
Treasury for redemption.
Il would be interesting To know what has
beco1ne Of these evidences OF debt Intarest
has caaeed On all this debt Gaco maturity. OF
coursa some Of 1t has been lost and de-
stroyed by fro and by various accidents !;
| some Of It has been carefully hoarded away
In secret places by persons ignorant of the
fact that It has ceased to be productive. This
probably Is especially trus Of the compound
tnterost notes. AZ the present holders die,
these hiddau securities will coma to Light.
The most important item Is, however, the
6-2o bonda, on which tho interest has
ceased, homo On long ago aa 1871. Who holds
theae bonda2 How many Of them hare becn
destroyed? Tia Texas indemnity stock
originally amounted to s6, cor, 600, and ma.
tured III 1866, ton years ego. Who holds tho
Sl73,oo0 OF that stock, on which nearly
$4,000 interest Is due? wers tho honda
burned up during the War; were they and
the owners lost at sea? or why the long ri.
lencs Of tan yesrs. during which the debt has
earned no Interest7
| Thu dfSnstch from Wnshinn4,r ,.,.a.a T.,