New-York tribune., 1877-06-12
FINANCIAL MEASURES.

FINANCIAL MEASURES
PARTIAL REMoNKIIzATIoN OF SILVER FAVORED
STANLEY MATTHEws's vIEws-THE FOUR FER
CENTS LIKELY TO BE PoPUIAR-A CALL FOR
BONDS.
by TELEGRAPH TO THE TRIBUSE.l
WASHINGTON, jane lit may now be con-
sdered settled hat the Administration avors the re-
inonetzation OF silver far make it legal tender
for all currency contracts. The President himself has
made any public utteranoes upon the subject and
probably will not until the time comes FOR him to make
recommendations 10 Congress- but the Secretary OF the
Treasury has defined his position very clearly and there
are strong for believing that he Is in full accord
with the President Senator Stanley Matthews, who ar
rived here last night, and whose relations with the
President give 10 his views special significance approves
the secrctays project H. says that the Republicans Of
Ohio viii undoubtedly take ground IN their coming state
Convention in favor Of coming the old silver dollar OF
4l2a grains and making it lawful money TO the same ex-
tent That the Tccuoacks Gow. He believes that te
Democrats will favor the unlimited reconciliation OF
silver and there viii thus be square Issue between the
two parties, the Republicans favOrng the use OF silver
aid gold resumption AMI the Democrats desiring
TO make.it irsurarabe obstacle TO resumption and to
produce an Inflated currency of deprecated silver coin
II should be under stood that Unler NJ Shermans plan
the Government Will always hold the brakes in Ms own
hands, and provide against surplus circulation
Of silver coin. Indeed, tie present laws establish
ample safeguards. No silver eau DE pad out from the
Treasury except in exchange for gTecnbacks or ac-
tonal currency The fractional currency will in very
short time ali retired AID eancelei aud then the only
way get additional silver into circulation VIII be for
banks individuals t,-Oer legal tcnders IN exchange
for il. The silver dclar cannot therefore under this
scheme be worth less than Tho grecnback dollar
OF course the advocates OF single standard viii de-
clare that IT Is impossible to silver as help to 10
back to good basis TLey VIII maintain tnat the Score
tary's proposition involves the necessity not only oi
bringing crecnbacks up par with gold bat OF lifting
with them the dead eight OF the whole silver circni-
ton. However this may be. the Administration has TN
dorhfody made NJ mind mis- question. As far ~
Tvs decision concerns present politics, 1t seems to be 10
limit aud drcc, tla silver movement III the Republican
| party IN Ohio rather than to combat II.
Il believed at the Treasury Department that large
amount Of the new four per cent loan viii be taken IN
this country for permanent investment during the 80
days. when VIII be open for popular subscription at
par The experience Of the past two years has Gsposed
most people 10 value the oeueH OF safety In invest
nens far more the promise Of large rctUrIs ana
there are mill ons of dollars lying Gic because oi the
general lack OF faith in corporation BOMBS ahd stocAS
and other forms s1-calod securities which used to be
so fascinating This idle capita! viii, It Is thought De
invested III the bonds II the opportunity brought
70 the attention Of TIE couty by tai discussion In the
NEWSPAPERS As fc bonds 20 be issued h dcno.nn'-
| fiopl running down ~ low $50, they will be
| within the reach ~ farmers, mechanics, ana
| others Of moderate means who have slali
savings that they want to put where ihey
will be safe irum the risk Of corporate iIsnasement
business catastroples and shriuS3gc OF values. The
loan CONNIE nj. itself ,soBgig 10 capitalists ~ wei as 10
small investors and the chance given 20 this elias. to
mt their de funds where they wl not be liable to loss
ordcprcciatiOn w,i it IS con sntly cXpccie hc eagerly
embraced. The action of Serreta: Sierilan ~ htS,-
in in ms NEGOTIATIONS with t.o syndicate, tnh; ne lro-
pie OF "a, United s,ales shall bdye III m bOhds me Nj
take before H. loan Is ohr.d 70 IV.g,s , ~ - @
III a u
fortune that large amount Of TIE iublc debt Is
! held abroad
The following call for 1ye-twcuty bonds (tho forty
| niutIo was issued today by Secretary Sherman:
Treasury DEPARTMENT, Junc y, 1877.
BY virtue Of the authority given y c a' "' O".,s' -
~ rcfudin Of the national debt" hereby gv" notice
that the principal ANA accrued interest oi ,c p1uus
the act OF iarch 8 1866 consois Of ls65 VII tc PAD
the Treasury OF tue United Sta'ts ~ t., o,5 "a az
ingtOn and after the lltA uiY oi "a, : 80 -
and that the interest on sad bonds VIII Cease oH Ina"
2cuDon Bonds-Dated July J. 1865, namely: so No
cool To No. 1000. both inclusive; SlOC No. ooOi 70
No 5000, poth iaclnSiye @2oo 1 no % ~ ~ a oo9
| both Inclusive Total coupon, SlO'VO0,ooo, -, ,,o
Regisftd B0nds-Redeeinable at tlT pi1a.Ic o. t te
lows: $50 No iOi to 80. 500 bOth inclusirei 500 40
| No. I5jo. both mciusiye sl.ooo No 7,5ol to 80 10
1900 10th ne,Isks; S2o9V ai a. - To ZOO b5l M
elusive. Totgl registered SjOOOOoO Aggregate 3d.
Te s,noun outstanding included in the numbers
aboye Is ~ COO 600 All United states bonds forwarded
for r,deIuutun s!udd addressed 10 tho - loan ~
| vision Secretary Office ana all te<lsiered DOhus
should be assigned Tie Secretary OF me treasury oI
REDEMPTION" Where parties desire cnechs III pty heht
for registered bonds drawn to the order OF any ore ou
the payec they sHoud gu them 10 lhe otoIely VI
the Treasury redemption on account OF the O"her o
| owners. JOt'N D"HhhN" |'''N'''''
Information reaches tonight TO the effect that the
scarcity Of small bills forcing an extensive use OF post
ace STAMPS for currency IN West, and instances are
given where large newspaper establishments are ece
ing them in such quantities a. 70 be Obliged To sen the
stamps At marked discount rs part OF their regular
business liz order get rid OF their receipts III tha knd
Of money.