New-York tribune., 1878-12-18
SILVER RECEIVED FOR CUSTOMS.
A REPORT TO THR sENATE-How MUCH SILVER is
BEING PAID OUT IN CURRENT PAYMENTS on IN
TKREsT, ETC.
ERAL PRESS DISPATCH.

TEREsT, ETC.
GENERAL PRESS DIsPATcHI
WAsHING1oY, Dec. 1.-The following is the i'm
portant part of the report of Treasurer Gilhllan
which Secretary Sherman transmitted to the SEN
ate to-day. and referred to furnishing the de-
sired information" about silver received for Gus
toms, ETC.:
No distinction has ever been made between gold and
silver money in the Treasurers general coin account-o
which account all coin receipts OF the aIe
carried by OF the Secretary OF the Treasury
under Section 305 Of the Revised Statutes NO record
Silver coins received Tor customs Information
can be given from the records OF tails once showing
the current fiscal year silver coins. The receipts
OF subsidiary silver account OF customs are neces-
sary small for the reason that such coins are not reos
able, except for fractions Of dollar when
the payment to. be made exceeds ~. The
tbs office and at the SuOTreasuy offices for the period
from July l. 1873. TO November 80 1879, were S5l7s,
toms. the per cent loan and silver certificates. De-
ductiDg from this receipts OF silver dollars 1rom
otner than customs and 81 ,bOOoOO ID very
liberal estimate FOR the amount OF silver dollars received
on account OF for the period above mentioned
The above figures do not however cover silver cert-
received on account OF customs prlncpa at tne
NewYork Office which an amounted during tae current @
total amount Of silver certificates Issued, when b ac-
for by the ae st when a Saa0 pa5 paH
out. The greater portion 9f the above LUIS Is
certificates received for customs n Nt%;iork al or
portion being again paid out by that once and nothng
received Tor customs silver cdhuoV oc Pu
interest, their issue being authorized Only upou
deposit OF standard silver dollars. .
In response the second inquiry contained IN the
Senate resolution II be stated that the silver coin
age received during the current fiscal year mas not
been specifically applied To the payment OF interest
upon bonds Of the United states, except 30 Tar
as the fractional silver 40 received has been used
I'm disbursements for coin interest III making payments
for racIiona parts OF the dollar No instructions have
been given by the Department directing the payment OF
interest upon bonds and notes OF the United states IN
silver In making coin payments however, pdyees are
nermitted elect which currency they snail receive,
,.lA eilv4p
notes The Treasury has also exchanged standard silver
dollars with the public for gold coin To the amount
81 534 7S5. The receipts OF silver coin fOr customs
duties during the current fiscal year have not been
ment exclusively III silver coin. No general de-
mand for it, in lieu OF gold, was atnauifested
Government. While reserving the legal option OF
the Government to either gold silver coin, IL
has been the general practice to comply with the wishes
of the holder OF demand against the United states
aud this practice has been observed Ia the payment or
interest or the pubic debt
IL the disposition OF the paid for duties on i'm
ported goods requirements oil Section 1904 OF the
Revised have not been dsregarded III respect
to the apple ou Of coin received, hSt to the pay
ment OF con interest; secon TO the sinking fund
third the payment of residue into the Treasury
Attention is directed To tne Tact that nearly
sources including coinage have been expended in the
purchase silver bullion under the appropriation made
In the section Of the Act OF February -, 1873,
entitled "An Act authorize the coinage Of the stan
daTd silver dollar, and 10 restore lts egaenucr char
acter."
To the third inquiry is replied that the coin interest
paid during the fiscal year amounts 10 x59335224 ~,
and no fuller Information can be given t1au that con-
amount such interest which was paid III gold ana Sill
yer coin respectively