, 1876-04-27
SMALL. CHANGE,


RpocsN Dtsp1tch fu The Chieaye Trlsu,k.
WAsu1aoToA, D. G.. April 2G.--A steady strenm
Of applicants for silver currency continues daily
at the Treasury Department, each person pro-
sopting small amount Of fractional currency
for redemption. Tho sum nlready paid out herc,
including that forwarded to other points whero
there Ia no Assistant Treasurer, by express, ex-
ceoda e20o,o0o. The shipmenta by oxprcss will
bo small hereafter. az tho T1eaAurcr llas begun
making remtttauccs by meaus Of checks drawn
on tho various Assistant TreaAurerH. parable IN
silver. Thu amount thus remttted in this way
ia moro than $l00. 600. Tie total auuout paid
out At Rll Offices to dAto is not far from
eG00, 600. Thia amount haa had no porceptiblo
ctlcct in relieving tho anlhll-chango famine. and
the ailyor thus far paid out secms TO have beeu
to considerable extent
uoAnDED
BY those WHO hayc received II, Instead Of having
gone Into the circulation. This IL beloved by
Treadury of1iclats to bo the resllt OF tho method
Of distribution provided by Congress-. Tho
Treasury Department. airoady finds considerable
officially in getting tho el1ger coin which 1t has
On hand out into circulation, and tho opinion pro-
vaila among officers that tho law would haye bcep
more effective lad It authorized tho isayo Of
at least *5 600 Of ailYeE at III exchange lnr
geenbacks or paper fractional currency tn oEnr 10
afford imIne1lato relief for tho scarcity of small
change consequent upon tho two .noaha stoppaso nf
work at the Printing bureau. Mnny tns.ncn,
who realy rrefer paper to si!str md who desire tn
obtain Tho latter only bocausa tbey ars unable to
get ths former,
CRITICIZE THE REQUIREMENTS or TIE LAW
~ very aoyere. TAs only way tn which they OBJ
tain tho coin Is by tho presentation Of tho paper
tional currency, and Il they had that they woull
prefer e ksep instead Of s.c,snsng ios silver.
The distribution Of payer frsctionnl currency has
ceased. although therh ss provision Of law sKainst
4a ssne, snd no oAssclo to ta further se except the
want OF an appropriation for running tho presses.
There remain IN tho Printing bureau many sheots Of
fractional currency partially printed, which, IN tho IT,
terest Of economy 70 seoye tho strtngency Of TIN
sms1:ehanga famine, might 10 AniAlod aud
have thoir back. printed At a cost Of s:u
thousand by outside bank noto companies and these
unless they arc issued. Will bc cut up for moucy
straps or maceraed into pulp snd sold ut fraction Of
cont per pound 70 Tho acorgcto~n pspor-nil. Tho
amount Of finished paper fractional currency In tbs
Treasury Ehults u mora than Fdoo 0o0 and for this
APPLICATIONS ARR coAarANTLY AKcElyKp.
This might 10 pstd out 10 tncrc4eo tbs stock sx
chMngsabls for silver in tho hands OF tho public snt
much Of y Will, no doubt, be lAsucl 10 disbuf1ing
ufnoort. since this Treasury Department u moi
under tho law authorized to furnish silver In tho pay
uent OF their rafs. As indication that there srs
people who do not suffer for Tho want Of small change
Il may be stated that cousdosabs number OF depos-
ttors at fractional currency fur redemption taxa
groenlacks for ii instead Of silver.
Attention has so been called % tho fart tia ths
tensa Of Issuing aud handling tho paper fractional
currency has been hTe PET cent: that yo pn< cent
gold bond sold to obtain the s!irer with which to
res the paper currency IedoeMel to tho sinking fund,
with annual interest charges OF tper cent In gold,
until tho national debt paid, tue Litter Item of in.
te1sst being compounded annually.