, 1877-06-17
Attorney.Generat Devens' Deols-
ion Regarding the Fraction-
al Currency.
Secretary Sherman Has Authority to
Replace Lost shinplasters
with Silver.
Orders Issued to Treasurer WV
man to That Effect,
Secretary sohurz Paya Hia Compliments to
the 1rreconoilable Gail.
Gist Of an Alleged Semi o oHlcia1 Tinan-
oial outgiviug.

Gist Of IN Alleged Semi 0 oalcia1 Finan-
oial outgiviug.
THE TREASURY.
NEW SOLICITOR.
Special nfspascA 10 ms Tribune.
WASHINGTON, D. c., Jupe 1G.-kcnnc.t nay-
nor, who Ia appointed sollcitor Of tho Treasury,
IL man nearly 10 Yoara Of age; wns in Congress
In 1850 AZ an old line Wing. OF late years he
has resided in AisalssIppl. Tic was Union
nas, d friend oi Grant, and q member of the
Alabama Commission. Iio was nominated to
be Commissioner to revise the statutes, Just
1oforo Grants term expired, but fallcd Of con-
fErmatiotl.
LOST FRACTIONAL CURRENCY TO ne REPLACED
Hf si.VKH.
10 tas Ttsftrn Atsoctafed fFes4
WAsHlNaToH, u. G., .fl,,,e 10-Thc following
Is tho full text Of tho Attorney Generals opIt,-
lon on tho subject VI issuing silver coin III lieu
Of fractional currency o1l& of cIrculation:
June 1li:-yAs tion., .joha Sseraaa, Sscrsfary d
re re. 1Fsasgry.a,n: M TX Your lottof Of a!e I'M,
s,lycr coin, When aided to the fractional currency
which has been isAmcd and not redeemed, rcachca
!anes Mstcf ons! x 1 ys Ct s "nt @
resolution Of Inly 2 1B7il, you arc authorized to
continue tho ssna oi silver eoEn IN place Uf frac
10 havo been Lost ur destroyed. :
lnye @ tue honar 70 tsply that by the act OF Jan.
u @ sse y cat s esGes"y
fractional currency Until! tho a,nuun Of spcl fsac-
tional currency outstanding should bu redeemed.
ttsuo sach silver coin Ia redemption oi M equal
asliDnnt of fractional currency. whether tho same
wns 1ssc Y ts ttfcasn,y s%atng .edspo
Tbs third section at the juEnt resolution Vt July
1871, IL a. fa!tows:
IN ssg r s.. f. e!att1oa g ths :9nu of sas.a.
:st!::5 ssfs sae.sSH ss
x ;.s sS|s g ts
eSa: essced fstttst ~ ' '*ses''e hut
IT was. in my opinion. intended by this section
~ SO. 0OO, 00{1 and wl,an the teEln ''outstand.
Ing" was usea n tcfeFence u coin and fructuna!
TINT The SECRETARY Should asccrtaln how much ii
tlat which had before been Issued was slIll out.
..staai!nA: IT, J. was publicly -knoyn iast that all
repeAe4ly III casca OF tlcsu banks shlch have Iurn
atyas!ous 1'mc' compelled to roacum hills issuci
In rrgara to an f,sue Of fractional currency, It
Nas also quite clear that, ftena Tic number at
greater than IN issuc Ut bills Of larger amounts.
W.ie T. pe,.lapti M not safs nolo 9t eonstsn-
which preceded. II IL important In ths cotincc,iun
g observe shat his faet In rsgani 10 the dessuc:
tion u papar money by use wv well known md
cougr.!a ID connection with iae bill foF wheh ths
resoatton IN question was afterwards substituted.
s'asa" y III: :%S:aers soa sa'a au'horIsea e 's y
law 10 bo issued in redemption Of fractional cur.
sesera! mina and !ssar through tho 1rcnsury In its
.esr!al osScs @ turthcs an:s,unt Of s:9, o1o 0ou,
cNxH$Un IL. II 00ntDnjHJ ab,r
side that !his would not mora than rrpiaeo lilo
amount Of ttactonalc lcussency whlct lad been worn
sonted for fedcmrtlun upnn tho othcr r site, ii
while 4 xas s!!,a!!tsa shat Considerable pos.Ioa
Stcn Il such ae,tfSs f,.st3onal su'rGns. h.a taas
tbst tho snlount wss much less lsgA''thsa shsa
seq oo0. co., The .1nposta9co of shl4 in reference
.ariII dc.;roysl y uaa. W. Dig Which Nas tniiy
sess e ssss.' ?s;sts' .na fs @ SsS
fha iii passed BY lho House was not scceptcd by
Che ss, 9na Pss o 7 !hs an4s.
tact wes clearly knowa aud ualsrstoua that scon.
siderable amount u fractional currency Ind been
saa y pss.s s f aa sss
issued and no. redeemed, 4 Or ao,ne similar phrass
xen would ,naisats !s nseSt nP9p q P.st hat
cx.tsrcs, I must he held that hy tho term tout:
o ara .s S f ThGn IT,.
a!np, ana tot xhish ths Treasury might thsre.s.
AZ, thersfare % Of the opinion that tho amount Of
fractional currency outstanding s to 1a 4stssln!n
cd not merely bJ thu records u the department
which, show how much has been !aa!ca, hut
hiss now beun lost ef destroyed, 10 that It can
never be presented for reiuuption. This, of
II - :s:Saa ~ su9ssasy a'yi Id s
ssa IssttGys BY a,s upoa benv :st.aea af shat
IfGasuFy TO hsre corresponding zsuount Ut SUBJ
lefeteioro ssac has been iost Or dsssoysI b. ss
f.st eay SeIns ~ t. liz aseao Ss
ls.s as:s!eysl "A'as IT, - sessststy ssa ''q.
:ssf sos y T. .as, sasS sx sa aua % u s scss ns
o90, oy1 w.!cl. 1 ". co!.tsmplatea b. Congress
should ls In circulation for tho purpose Ut Change.
CmAuLxs DkSxNs, Attorney dahoral.
ORDER lssuEp TO Tl.xAsuRsA wxMAN.
Tho following was issued tll!s morning:
Tssasvny "A 3 p1r.Sr1Fxr. Ms,.a, w4sn,suToN c
:rrea.utet y the Units4 s{aie., cen'rttelisr u
ins aud rtInti%s iatcd liz ss ih Ill.,, H. that ill.,
::5Sys sn .sh thsioisis ; sasst
Attoraey General II BIZ opiplon Of ths dats
tcopy hetew.th) h9lda that lu .ascettaIninF tho
amount VI fEnct!9Hal currency outstanding within
o!utIun Ut July ~, 1870. there s'ould DO dsducted
sroaa tho smount Ut such currency Issued aud mt
redeemed tho amount lost and destroyed, The
amount issued and not reaee.nsd Nay Al, l4T7,
Wa Sal. 30t, o30. :3' and dcductany tho amount
IL: ~ T. saaa aeets g. T sss
which. according to ths opinion OF the AttaFuuy.
GenesGl, wax lion outstanding.
You arc therefore directed to !saue, according 10
law, fEunl tins to tnle, amount uf siiYer coin
which, !ncluany the amount Issued sl1cu dale Of
kusan,p!;oa .et. jan: u. 1879. sna amount oi
cd. will equ4l atty miiun dullass. Very respect.
fully, LouN 5uERAlx.
ua414a