, 1877-06-18
THE CURRENCY.
Secretary sherfnnn'a TalIcy nf Legal~Tcnder
c0nttact!on---An Impending Financial
CFlals-- -Cnn 1t f1e Avettel?

Nt'c, Fork 8Ht'e!in, 1ans1&. ,
% n n p S r.
sumption measures 10 ieaso no aoaSt that hls aets
mast soon begin y hayn ye.y important effect
ye fot the sae d s eG5 90 of 'v s"n. With rtu
o SSSwnf te s9 s4m = o spp
;ssea Ks !Sso &c nj S''tp sis i:
aes aG .ea IL TX Ike Of asssos sdaa aas
o. bonds D.! for te same rnrpo.e. How far the ser'
liz Il to o,o ss sss sh % 4 aS @
thG pnhl!c lnye NJ OCCASION to know In advance.
Al .yo kn9w Is. that ar. sherman opens Biz pro.
poses, At the rate Of Sc, uoo. 900 per month Tor
TIC Atst four montl.s; and NJ tlu term Tor there
sSsss tMsny ~ enth' " nnd at ths rata
sonablc % conclude that 81, 600 900 per month Is
Intended to be thc average extent ut thcsc tanaac.
himself 10 lie terms oi Tho lscsaiptioa set. %,,d
nove einmcnt 10 sto ooo, zoo or sioo. Co., Soo ,hcn
tho rate with which he has commenced hls prepa.
rlations. DIt T becomes more and mora apparent
tnn1 M ne f. nas er91enR sontras
what ha DECLARED In the senntc Tho ilcsumption act
allowed. II y now stated fan1, upon direct tn-
sd ihst ss ono mean. q sesompshina ee,ar eonirae
zen. nc Secretary b. dccEnnsi to replace IN his
saers we syo Soe ae e SFs
known a. tl,a K9 pei cent ca,sa" oi tic i iso. j.
sumption net; which, Of conree, nnIounts to con-
tion.
From what already appears, therefore, a. 10 tho
onetaiions, mint immediately bcgln to Involve q
Sa'awa' a., q S9a s' eeatenaers da6 @ from te
These withdrawals viii como mainly. IN taS ff.t
po!t;oa which r asu5i vi! sonstus tie aG bals, Ill.,
ths oily oustores Of T coin so, ownea Dslf s. o
nu6s l1 j. ttG. bceomcsn yery tesIous question:
eana CO 1nn a sfG S ,eeHx sak' t. H.
tocatel hunks showed that they lcli s55. 900, 600
of Of lcsai.tsn!sss m anl SlD 600, 900 Sf rrceie.-ln
we're sls, 200, 900 in cxcers Of tho n,nount
indcatcn the point At which tic sccfctary's opera
5 10 bo kept in mind thst, about thS besiuaing of
soptembqr t.s banks Of Tho interior begin 70 lfaw
no no IN ct5 Ma hok for to fae
middle Of September and tho closc Of tho year. iho
decrease Of loaal.tcndcta IN Tho banks IRON th!e
@ "as "nd Ia ISL 's ss viii TIC sss
" s ysar ,s sS hardly ae expected to be lesa Than
Now. adding 70 tlls natural olux Of .ionders,
ecslnn.n1. Wit, September. ss!o Treasury wItA.
81, 200, 0Oo j month and Dcgiantnyt with MAY, IN
2noas nso! sno @ e ~ @ o, noxt - faf nn tho votTo q
@ whs is ase ssa
them n urgono times. The prospect t. certa MY
one s'lat aennds to most ea.nest and Immediate
eoms%%y afs e's:siy sssxins On ths esaeia
snrntn, ~, n.ftmt tns i,i,yFp ry aFp'oaEn 70 Is.
5ut wl.eh, IN Till ca.c. i rendered senfod morS
frying ihan 4 ncc Is thIousi' NJ Illegal sontrae:
" r. ss:;etsSs = .9s T'ea.s;y .sss p's
sn,n,3s! IS msnt.s 2, a.. g, q . ush II: =
70, within ihs psris s " s mi ae'o oi
e ls eon!rae'on measa,es s po!
e esfI Il @ as'fsssisss
moos tIo danSefors features ~ ii. hroyron,, ass" 10
he viii sopn tsse such senoTa hnst9iIiy ~ WI,
tSmere In n @ e IT. shs a.s Of
and - i'm sS:u,t n rarefni csnvsss ~ ~ ,
conpctcnt an onlnion q, Il ths ~ Ill.,
ueres.ssy 10 fcsucci. 's" "'@' 1'''''"''4' III" II
II III. Sherman rofsi,ts 10 enforcing 4 matsrE,,
contraction of sEal.tsndct. ths thafs afs 10 possible i
tjnnx Sor rcsnmntitn in oons."f nari IL " hsln.n'
it, himself 10 tic soIe epsTatons c;,ntcmpste IN
fentiers m,ri nssM tti, thn is.,,o ~ n, h :" tesn.
euson sn hs M,s S 81 ~ now a
sa5s: ss.s ! mo-. q aos!stsss sssssss
to 70 ;s 10 n Ssr
H. H. h"m toS oay ~ s"a1aer Waat Soafces q ~:
cnn,,dntati w. a,los ;h ny me aesetsne q
svsfI W,aiT ~ ~ .s, ~ ~ .is ~ sn9ao mnt
a !in. tms y"ena " H. aspostt,
Stnim,c "a s",tam H.. t:vit', u n.n..,aa nGa t.Ie
r. thnsa nrrnn1nmsnts mEEtth .os"s h. Ie'amt!so m
enanse" " '"v'elaent ca'sialsoh;
nsr e, III All aata9na x ~ a'xma aesx
,.rx ats III Il ~ Sc of ts lfeas
ssce fr1t rustous usr pc Tar'm, n naest y t r. T..
prcscr " thu HccreIafyt and try naY sIsS !" ctn.
ho{Ed u hhahcte agents uf Tho md tiny
ana perform ~ snch tenannaii4 dHles, " tepsto'
rra " .iS tas1sy, aaa hnsnva exenta u !ha uy.
II liz T;easurY ss .ars tic tn. Nm. IT..
irnnts 70 ryc ,rri;tlsv - % s,s -
lnifot Atates lUi,s anI osrrw.e; of ts sa,e Istp.
eME Ant nsopt taytent " the public noncy IegoaliSd
sH" 0t hleIt
NGw ~ scefets,y g TIT shosa dssIxnate certain
~ Eli i.,s snssi.. M % ~, ~ H. nsaustoI.s
~. liz nsrnnss H. t,e Ica inm ,os H. ~ t.h
y! ete H!IENt