davidaulloa/AmericanStories huggingface dataset:
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24


-. Bsenos Agyes California oriaoeo, &c.
ksst sss &C. ~ &c. ss' i &c rs
ss:S damage, s.s e sS . ~ ss e. ss Is
SSr Sass Sassr-11ght sacE. Sc Sc nIaals
c Sc heavy crop, Sac So isIi,4Esh9 e croS
Ssmoc & i roas Rsss s sc sss soqsa
solAssr, va. duh and nominal We quot. CUBA,
centrifugal aad mixed, 90. sc DO csyed, sssc.
Gerry. SO. sc Porto Rico. sc oOc, English Islands
Naval sroHFs-ine mirSei for spirits turpenuns was
steady. with few jobbing demands a. full prices The
:a n YER e es y SPA WA sem or &c
az, q Sb Ssls oas ri = SS DO q 81
aLSl7S far-Ihe demana tor tnln was good rope was
quote s-Splrits tuI pentine size Sc strained ro,,n
y7ss s. 81: Wilmington Gar, & . 81 81; Washing
0olis.-Iinsssd va: n iair jobbing demand: on time
was dull and unchanged Crude sperm vas quiet with
sales o. 1 bbls Inferior on priyae terms CRUDE whale
seas Al elc. Red steady and prices weak We
ga"ss,%onys sar'e ~ y, oua Iau W DO
seed, city casks and bbisj, Sc 6Sc whss, crude
unpicachcd win,er ne 7sc 40 bleachcd winter Ssc:
sprns. Ssc 7oc sperm. crude 81 ISL Do w,nser IN
bieaehed, " gSi 40 DO, oleacued ~; DO, beached,
sound SIC. ssc ara, prime winter 81 %; do spring
and summer o. 81 % red western distilled .ealnel
65c. do, saponihed 5c 15c cottonseed crude Soc
SOC do southern yellow soe : TO-; DO. yellow and
&c. &C. straits g. Sci natural laorcatng, - a %
gravity &c. DC
PKrEoLEUM-The market was steady and closed weak
at nc IKE Tor refined and l2c Philadelphia The
sales were l2U0O bbls renned AZ l2c tor July a 800
bbs do, l2Ac., for July IS; 5000 bDs do l7lkc tor
earlv July; deliveries Of 1900 bbls do sold III PIMA
deipnia az 2c, fo July o. Crude IN buk quoted
eSc FOR prompt and month, sac. for July DO IN bbs
ssc tor prompt and month sl&c Tor July reduced,
standard white. lie l2hc Tor prompt and month,
l24c for July IS Napntha, SIC tor prgmpt aud tn
sAc. tor July. cases nc. l91sc. Philadelphia was
Bsltimore-Ihe offerings were light with few buyers,
however Tt1usvne-Ouiet and a little easier quoted
atSi sSk a 81 IS oil Ciy-Quiet at 81 30 vi I%.
usevieQuiet and steady al 81 32h 81 s. 1idoute
dull 81 RI Ind Al q Aakad Parker's-Qiet ana fn
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
EUROPEAN MARKETS.

LIVERPOOL PRopUcR MARKyr-LIvERPooI. June 23-
EvenIng.-sp1rits Of turpenune, rs Cd per cwL
LONDON PRODUCE MARKET.-i.ONDoS. June 23-Fven.
Lng-lnsced cake, l5s per ton; inseed oil, 2is.
OIL do
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
HAVANA MARKET.

HAVANA. June -, is71
Spanish geld AK NJ Exchange quiet Sugar ac-
tive No " Dutch Standard II AK reals arrobe
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
COMMERCIAL REPORT.

COTTON ON THE SPOT FIRMER-FuTURFs
FIRM-FLoUR sTRADY-wHEAr UNSETTLED
AND LowER-coRN EAsY-oATs FIRM-RYx
DULL AND NoMINALs-BARLEY QUIET AND
UECHANGED-BARLFY MALT oUIEr-PoRE
oUIET-LARD QUIET AND FIRM-PETRoLEUM
wEAK-NAyAL torres QUIET AND FIRM
GROCERIES, QUIET-HIDEs sTEADY-LEATHER
oUIEr-ons oUIEr-wHIsKxY STEADY
FREIGHTs FIRM-HEMP AND JUTT QUIET
GUNHIEs FIRM.
WEDNESDAY June 2S-6 p. NJ.
Irregularity was still the dominant feature In
commercial circles and prices OF many commodi-
ties were still very uncertain. on 'Change hour
was steady. Wheat was irregular and lower.
Corn was easier. Oats lower, but closing firm.
WhiskeY steady. Pork and lard were quiet, but
decidedly frmer. Very little was oone. Cotton
on the spot was nrmer. and futures were firm.
Petroleum was steady. ana closed weak. Naval
stores were quiet and frmer. Hides were steady.
Leather quiet Oils quiet HEMP and jute were
inactive Gunnes firm. Groceries we're quiet
Cotton on the spot, under fair demand from export
ruled hrmer, with holders in most cases asking
higher prices bat failing to establish advance in quo
tations The sales however at tul dgures After
Change 500 bales sold exporters and It
mored tnat other business had been completed parteu
lars OF which unable TO learn The inquiry
spnners was generally Tor moderate lots for pres
ent use. Futures closed an advance
Of &c. Late telegraph private al vices from Europe
Indicated uneasy feeling prevailing, owing TO
failure announced and others apprshended but to
Liverpool market reported the diff
ferent from noted in the puD &c reports We quote
June, u li6c. l5hci July, % S-S2c i5sc. August
l5Lc Ii 932c- September, l5Mc ID 63'c. October,
IA l3-6c. Il HSc November, u ll,i6, IA 2sS2c.;
EsSsaaps i lSG rs: u.s. I sa4.n is Is
April 1890. Is 9.l6c !; Nav l. $3.50. i5Mc.
Quotations based Standard O classification loce
September 1874 ana on upland cotton IN store running
in quality not more than halt grade above below
the grade quoted :-ordinsry, IS4c good ordinary.
l4IAc.; strict good ord nary 4Ac low mildlng l5c
middng, 1896. good middlin9. l6Ac Quotations
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24

The specie shipments to-day consisted OF 500, 900
silver. The engagements for to-morrow's steamer
snus FAR foot up $3.50 900 gold.
THE UNITED STATES TREASURY.
The Assistant Treasurer paid oat to-day $4,000
on account Of interest," and $40 900 in redemption
or nve-twenty bonds. The following were the
Treasury balances in Washington ;-Currency.
a. 500 ooo CON- s72 500 OoO less coin certificates
s2l,OOO,Oo 900. RanK notes received at the Treasury
to-day $685., 900; customs receipts 100000;
revenue receipts, s2os,O0o
GOVERNMENT BONDS.
Government bonds closed firm at the following
quotations limited States currency skies, 1924
l2zk; 90. do, 1881, registered, 12ox l21; DO.
DO, 1884, coupon, l26k 1857; DO. nVe-twentles,
1862, registered, lis; do. do, do, coupon, llT5s
llSk; do. DO. 1854, registered, llsE 1l9;
do. do, DO, coupon, l1sT a 1leh; do. do, 1860.
registered, l2l 12lA; do. DO, do, coupon,
l2zK l2eh; DO. do, do, new, registered 1905
12oI; do. do, do. do, coupon, 1924 124h do.
90, 1867, registered, 12lJI 1914 do do, do,
pom, 1851 125k; do. DO, 1868, registered, 1919
l2lH; do. do, do, coupon, 1247E 1875; do. ten
forties. re0stered 11Tx q nsH: do. 90.
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
WANTED 40 rURCuAsE.

nRUG s. ORE wANTED-cIrY on COUNTRY 1Dde
IL ing $500 or over, Address with full particulars
". s. d.. Herald Office.
iTENTs wANrED-sECOND HAND TENTS, IN GOOD
order sufficient tor tue accommodation OF hfty rail-
road workmen Address, giving full particulars size %
tents condition and rrice, notice will be taken.
H. ", box 10 Herald office.
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
CLOSING PRTcKs-S r. N.
THE MONEY MARKET.

Money was freely offered to-day at per cent on
call Discounts were quoted as usual. Foreign
exchange was quiet and steady for sixty-day
bills at 4s6H a Ls6k, and strong for demand AZ
ASK 400
THE GOLD MARKET.
Cold opened at 1l7k and closed AZ 117H, az
which all the sales OF the gay were Effected. the
rates on gold loans were and per cent both for
borrowing and carrying. Loans were also made
nat.
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
FINANCIAL.


stock PrlviIeTes
at best rates In market on members YORK Stock
Lxchange; ops aiions made against approved contracts
By mai OF wire nook On Wall street sent iree.
BANKERS ana Brokers'
A -LAPSLEY BAILEY, II BRoADwAY.-sTocK
"A. fRlFlLsGEs o. MnMBsRS or ThE STOCK
e HSss ~ fAS5 nv Has So
S M Qy F, fsSgarAkS DY M 1pxEE ow
s2LRD p FREE Le1F - A ASP h66Bks WALL
AT REASONABLE RArRs-NoSEr OK LIFE AND
~ Endo ment Insurance. PoicieS MORTGAGES All
other securities I9saTanss q al kinqs effected with
NY PERSON DESIRING TO BUY SECOND MORT.
they wish invest address l. X box lss Herald office
Ii PERSONS OPPOSED TO The PRESENT FUND.
pany ana wishing to project their interests will pie 80
so ,nsT ss o WIT po s eee o bonus nea
RsooKLYN CITY SEVEN PER CENT BONDS
CoHrrRoLLKRs OFFICE CrrV HALL,
BROOKLYN. June To- ISIS
Sealed proposals Endorsed proposals g. bonds win
O'Clock NJ Tor the pure se q the whole or any part %
RsSsya 'y per R2GGi gsSsSf three
POND sTRKET SAVINGS BANK, BOND sTRrET
Dividend Thc trustees have directed that on and after
s9 Ds y a. s ra s II Be s
terest not Withdrawn will be added ana will draw
interest," principal BY order n ,RKISON HALL Pres.
tdenti O. 4. BAILEY. Treasureri '. r. COOPER sec
Rotary Deposits made before July 10, date inter-
est from July
CUBAN BONDS FOR sALE.-BROwN A LEETR.
~ Financial Brokers, 50 Wall aud l3 Broad street
Post otilce box f6t-
DEFAULrERD1, lro,s ,Da ruD,e,o,, Rons.
bought and sold by the old established house or
ALBERT n. NfCOLAl A CO,
Stock Brokers and Auctloneers,
= no. B Pine street. New York.
- u,
Municipal Bonds and other Al Investment securities
speciality = years paying 40 10 Is cent; interest
promptly paid and tor sale below par
ESTATE FUNDS TO LoAN-oN. CITY. BROOKLYN
~ or Wescheser properly, In sums 70 suit; bonus;
Mortgages eashed at lowest rates !. n. HYATT, lI5
Broadway.
LNOR SALE-lGO SHARES STOCK IN THE INDIAN.
~ ola CITY and Land Company, Texas. $itOl
This stock Will be seld much below Its value. Apply
GkO. \. BAKER Cashier FIRST National Bank, New
York
+ ALWAYS HAVE MONEY TO LOAN ON GOOD
New York city Mortgages without bonus Principals
desiring 20 BORROW OR INVEST apply to
Il. T. GRANT, li5 Broadway.
John g. PfERCK, NO. PINE STREET LOANS
~ money without bonus approved Real Estate in
New YORK, Brook vn and Weston also
chAses hortgages ~ lowest rates
MONEY TO L0AN-ON FIRST MORTGAGES Win.
WI out bonus second and Leaseh hold MORTGAGES al
easy terms CLIO. VI STAKE, 100 broadway, room
MoNEY 10 LOAN ON BOND AND MORTGAGE
W First class location; no bonus. Brooklyn and New
Nork; principals only Wy, tui particulars. Address
box $50 Fost Office.
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24

5000 Erie ID m ....-..
sou Erie 81 m b c
gOUO Cen Pac < BIDS.
loco {, hiS \ " con-.
s0O0 Chic a Alt list :.
7sOO u p kK lst me-.
1905 do......b c. b
2OOm Tn Pacaf.-.....
AsOsh 5 Milan, rs pd. 10
LOO Mari pf. pd bc.si
80 ny { A HR tn b c
J1O do..s.........
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
MARBLE nIANrEI :.

7 GREATLY REDUCED PRtCRA
~ An extensive stats and Marble Mantslh
Wash rays and slate Work OF every DESCRIPTION
PENkHfN sTArk COMPANY,
Union SQUARE Fourth avenue ana seventeenth a.. N u
A + GRkArLy REDUCED PRTcEs-AN ExrENsIvR
~ stock q Marble and Marbieixed hantels aud AL
other Marble Works Marble Turning TOE the trade. A.
hiABkR LA East klghtaanth pxssk near inarAaw~
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
WEDNESDAY, June %, 1876.

1915 AND 1880 A. M.
III $1,000 U S $40, g, '65, n. ia
lleZ 1000 y 5 $40, c, '6T n. l2lK
i201a l0JU U ; { ~. c, rs. b LIS
l2iZ 1000 s 6's. C. 81 49,. ,l67<
l2s 1000 Us b's, l0-4J, C. 80. ll9k
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24
BEEuEE CAII-l9 .an p. \
2 ?. N.
SECOND B0ARD-I n M

5000 Us ssoe,C..... lssx 5000 cur Sa.... lsax
a5OlO do..........bc ~
The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-24

At best rates In market members OF New YORK Stock
bxchange ope -atons made against approved contracts
on moderate margins: orders promptly attended 70
BY mali wire nook Wall street sent iree
1UABhIDGE a Co., No avail street, New YORK,
Bankers ana Brokerx
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
NORTH CAROLINA NEWS.

The Legislature reassembled on Monday
last.
Work is progressing favorably on the
Fayetteville and Florence railroad.
"A number ofindctments have been found
against several of the liquor dealers of Raleigh
for selling liquor to minors.
The Wilmington Star announces that the
cotton factory, in course of erection in that
city, will soon be in operation.
JEFF Patterson, aged % years, was happl-
ly united in marriage to Mrs. Mary Solomon,
the mother of ii children, in Person county,
recently.
DR.. Moran, the most eloquent speaker in
the N. G. Conference, is temporarily officia-
ting in the Church of the Strangers, New
York, during the absence of Dr. Deems.
Governor Brogden has received letters
from number of the creditors of the State,
in Europe and in the Northern States, all OF
whom express willingness to be lenlent in
regard to their claims.
The Charlotte Observer learns that a youth
named Dixon, living about six miles from
Dallas, CASTOR county, was thrown by mule
on Friday morning of last week, and from
the injuries received, died in about twenty-four
hourc
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
THE PUBLIC SENTIMENT.

The indignation of the country at the re.
cent action of Gen. Sheridan in ejecting from
their seats, by military force, members of the
Louisiana Legislature, has been expressed in
terms unmistakable We do not perceive that
the merits the claims Of the elected members
enter into the question; they may or may not
have been entitled to seats Yet it is claimed
that the safety of the Republic does not war
rant the intervention of the military arm in
organizing a State Legislature or determining
who shall sit as its members. Besides mass
meetings of the citizens Of the various cities OF
the North and West, expressing in the strong
est terms of condemnation the action of the
administration, it has also been the subject Of
disapproval by the Governors of various
States, who by message, have communicated
their views to the respective Legislatures.
hemeeting in New York city on the 18th
is said to have been the most remarkable in
point of numbers and enthusiasm known in
that city for years. The Mayor of the city
presided, and prominent among the speakers
were Wm. Cullen Bryant, August Belmont
Hon. VIM. NJ. Evarts and other distinguished
citizens, who were influenced in their action
regardless of political or party feeling
Among the resolutions adopted was one that
"the manner in which the federal troops have
been employed in Louisiana constitutes al
abuse of authority which is dangerous to pub
lie liberty in an equal degree in every part o.
the Union" This is the tenor of the resolu
tions adopted by the various meetings !; while
the language of Governor Tilden, of the same
State is no less expressive. In his specia
message on the subject, referring to Gen. Sher
idan's published statement, Governor Tilder
says:
"The pretexts for that officers action are
First, that he acted by direction of Kellogg
who is recognized by the President as Cover
;,"r of Louisiana. Second, that the member
nftbo M ,oo;s':,. '':,,."rc who were forcibly elected
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21

piled to the speech of Gen. Logan on Louisi
ana affairs. A message was received from
the President signifying his approval of the
finance bill. The House was occupied on
the Indian appropriation bill.
In the Senate on the 10Th, Mr.. Upton
spoke at length, in reply to Senator Logan
on the Louisiana squabble. Mr.. Frelinghuy-
sen obtained the floor, and spoke in defense
of the action of the military. Though he
derided the social equality war cry, he claimed
that the people demand equal citizenship
The House proceedings were unimportant.
In the Senate, on the 18th, speeches on the
Louisiana question were made by Senators
Salisbury, Clayton, and Sherman, the latter
holding the floor at the hour Of adjournment
The House was not in session.
In the Senate, on the 18th, Mr.. Edmunds,
from the judiciary committee, reported ad'
versely on the memorial of the members OF
the State Central Committee of the Union
Republican party of South Carolina, in rela'
ton to certain allegations contained in me-
mortal of the Tax-Payers Convention Of that
State, in respect to excessive taxation by the
State government, and the committee was dis.
charged from the further consideration OF the
subject. House proceedings unimportant.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
SOUTH CAROLINA NEWS,

- DR.. E. J. Oliveros, al esteemed citizen of
Orangeburg, died in that place on the 18th
instant.
Work has been commenced on the Lau-
rens railroad, and it is expected that the road
will again be in running order in Il short time.
- Governor Chamberlain has signed the
bill passed by the Legislature, abolishing the
Inferior Court of Charleston. The honest
people of Charleston are duly thankful.
The following persons have been elected
municipal officers of Rock Hill for the cur
rent year: John r. London, Intendant; I.
L. Johnston, +. H. Barber, A. D. Hollar
and j. j. Hagins, Wardeus.
- The National Grange of tho Patrons of
Husbandry, will hold its annual meeting in
Charleston on the first Wednesday in Febru-
ary. The session will probably last ten or
twelve days.
Samuel Lee, through his counsel, Judge
Paschal, has served notice of contest on
Representative Rainey, of the first district of
South Carolina, claiming that he was elected
over Rainey at the late election.
- The residence of Gen. NJ. G.. Butler, about
twenty miles distant from Edgefeld Court
House, was destroyed by fire about 10 o'clock
one night last week. 1t was with great diff.
Guilty that his wife and children escaped from
the burning building in their night clothing.
No mention is made as to the origin Of the
fire.
- During the past week, Governor Cham
berlaiu has made the following appointments
For Chester-J. N. Gregg, H. G. Thomas
and C. S. Brice, Notaries Public Lancaster
c. P. Pelham, county auditor, vice VIM. Nc
Keuna, removed; Williamsburg-B. P. Bar
ron, notary public; Charleston-Reuben
Tomlinson, jury commissioner.
"A very destructive fire occurred in Or
angeburg on Tuesday oflast week, which de-
stroyed property to the value of near two
hundred thousand dollars, including about
twenty stores. Among the sufferers we re-
gret to notice the name Of our former young
townsman, Mr.. T. B. Boyd, whose loss is put
down at $1,000.
The Columbia correspondent of the News
and Courier says the old State bonds and
stocks are coming in rapidly under the act to
reduce the volume Of the public debt The
State treasurer reports that to date s2,7OO,0oO
of such bonds and stocks have been converted
into 81 ,25O,OOO of consolidation bonds and
stocks. Last week half million dollars in
bonds came in for funding.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
A NEW CONGRESSIONAL JOB.

E.S. Sandford, of the Adams Express Com
pany, has been before the post.office commit
tee of the House of Representatives with re-
ference to the law allowing packages weigh
ing less than four pounds to pass through the
mails at the rate of half cent an ounce. Mr..
Sandford claimed that the express company
pays the railroad companies more than double
this rate, and has notified the railroad COM
panies that if express business continues to be
put into the mails, the company cannot con-
tinue to pay the railroad companies the rates
now charged for its express packages. The
express company asks that the evil shall be
remedied. In other words, the express COM
pany asks the Government to discontinue a
branch of the public service of inestimable
value and convenience to large class of the
people deprived of railroad facilities, in order
that the express company may have more
complete monopoly of business, which, in the
Southern States, at least, already amounts to
grievous imposition. Mr.. Sandford claims
that his company pays the railroads, say one
cent an ounce for the privilege of carrying
packages over the roads-though 81 per hun.
dred pounds is nearer the correct fgure-yet
the express charge for delivering a one.pound
package in Yorkvlle from any point North
of Richmond would not be less than 81. This
tariff affords a handsome pro6t-we might
say princely income-to somebody; and the
public will hardly be at loss to understand
the extreme solcitude of the express company
about the overburdened mails rendering the
public service for moderate compensation.
Unless it can be conclusively shown that the
convenience of the public must be subordn-
ated to the rapacity of an overgrown monop-
oist, we hope the committee on post'oftice
affairs will dismiss Mr.. Sandford's complaint.
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
PROCEEDINGS OF CONGRESS.

The Senate on the 18th was occupied with
a speech of Senator Howe, of Wisconsin, in
defense of the administration policy toward
Louisiana, and in reply to Mr.. Schurz. The
House passed a number Of bills, the on one
of public Importance being bill making a
general grant of the right of way to railroads
through the public lands, giving one hundred
feet on each side of the track and twenty
acres for each station, to the extent OF one
station to each ten miles of road.
In the Senate on the 18th, Gen. Logan, OF
Illinois, had the floor all day on the Loulsl-
ana question. His speech was defense of
the administration, and his argument was
that the action of Gen. Sheridan was the re-
suit of Democratic conspiracy. A special
message from the President on Southern at
fairs was sent in and read. In the House
the Indian appropriation bill was considered
during which there were made some charges
of favoritism in regard to Orville Grant, the
Presidents brother, trader in Montana
who, it is alleged, enjoys extensive monopo
lies.
In the Senate on the 18th, Mr.. Upton re
Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-01-21
EDITORIAL INKLINGS.

- Affairs at New Orleans are reported
quiet. The Legislature, with Republican
majority, is in peaceable possession of the
State House, and holding its sessions regu-
larly. Both Houses passed a resolution de-
claring that Pinchback was duly elected U.
S. Senator in 1878, and affirming his right
to a seat in the U. S. Senate for the term of
six years from that date.
Resolutions have also been passed by both
Houses requesting Congress to Immediately
institute a thorough investigation into the
affairs of the State.
The Finance Bill.
- President Grant has approved the
finance bill, providing for the resumption OF
specie payments, as passed by both Houses OF
Congress. In approving the bill, the Presl-
dent recommends al increased revenue to
carry out the obligation Of adding to the
sinking fund annually, one per cent. of the
public debt, which would amount to about
thirty.four million of dollars per annum.
To increase the revenue, he suggests that the
duty on tea and coffee might be restored with
out permanently enhancing the cost OF these
articles to the consumers.
The bill also provides that fractional cur
rency shall be redeemed in coin as rapidly as
practicable, but as there is no legislation pre-
venting Auctuation in the value of currency,
legislation to that end is recommended. On
the subject of final resumption, he says:
As the present law commands final resump.
ton on the first day of January, 1879, and
as the gold receipts by the treasury are larger
than the gold payments, and the currency re-
ceipts than the currency payments, thereby
making monthly sales Of gold necessary to
meet current currency expenses, it occurs to
me that these difficulties might be remedied
by authorizing the Secretary of the Treasury
to redeem legal tender notes whenever pre-:
sented, in sums of not less than one hundred
dollars and multiples thereof, at premium
for gold of ten per cent, less interest at the
rate of two and one half per cent. per annun',
from the first day of January, 1879, to the
date of putting this law into operation and
diminishing this premium at the same rate
until final resumption, changing the rate Of
premium demanded from time to time as the
interest amounts to one.quarter OF one per
cent. suggested this rate OF interest because