The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-27

probability as in the other two The gentle
man added that there among those whose names
have been published in connection with the mission
gentlemen who will receive no executive considera-
ton and that several days may capse before anything
definite can be known on the subject.
RESUMPTION OF SPECIE PAYMENTS GREENBAcKs
TO BE REDEEMED AT ALL THE sUB-TREAs-
URIEs.
The Redemption act says
And on and after the first day of January, Ammo
Domini 1879 the Secretary of the Treasury shall re-
deem in coin the United States legal tender notes
then outstanding on their presentation for redemp-
ton at the Office of the Assistant Treasurer OF the
United States in the city OF New York, in sums OF
not less than fifty dollars.
1t is well known that exact provision for the re-
dempton OF outstanding legal tenders has been made
by legislation for any point other than New York.
On the first day Of resumption there will be no re-
dempton except the receipt of greenbacks for GUS
toms duties outside of New York. This will obviate
any need for distribution Of the coin which
would be imperative the actual payment in gold of
legal tenders provided for. The department is
thus enabled to concentrate its forces point in
maintaining itself 1t is not the intention, however,
to resume only at New York. 1t is the ultimate in
tenton to redeem legal tenders at all the subtreas
uries if the transactions in New York after January
next demonstrate that resumption is to be a COM
this fact United States notes will be redeemed at the
different sub-trcasuries throughout the country as
well as in New York. To do this it may be necessary
to transport coin from New York. In this ap-
preparation would have to be made for that
purpose The cost of transportation OF silver by the
paid out Of the silver fund The trans
portation for gold is paid only out Of the amount
appropriated for the transportation Of Funds" Az
tho amount under this present appropriation is
than sucient to pay for the carrying Of notes
appropriation for the transportation Of gold would
have to be made If that coin should necessarily be
required to DO moved in the process Of resumption at
the Sub-Treasury. It is hardly expected however
that this will be the case. From indications the
part of the people generally. already made manifest
in preference at this early date for grcenbacks rather
than for go it safely be inferred that the differ
emit sub-reasuries will receive sufficient amount of
that coin to redeem all legal tender notes presented
without calling on New York.
SPECIAL COIN ACCOUNTS ORDERED DISCONTINUED.
Treasurer Glnllan has written to all the Assistant
Treasurers Of the United States directing them to dig
continue special coin accounts from and after the LIST
Of January, keeping but one account. in which no
distinction win be mnde between coin and legal ten
ders.
INCREASED DEMAND FOR STANDARD SILVER
DOLLARS.
Since legal tenders have been at par with gold the
demand for standard silver dollars has steadily in
creased Before that time the orders received at the
Treasury Department averaged about $4,000 daily.
To-day orders for $4,000 were received in the one
mail which arrived before the department closed at
noon.
PURCHASE OF SILVER BULLION.
At three O'Clock this afternoon the Secretary Of the
Treasury opened the bids for the purchase OF silver
bullion and secured all he desired at prices below
the Londen quotation, though, in Difference to the
wishes OF the bidders. the prices withheld from
publication. The usual number of bids received
TIE robson INVESTIGATION.
In answcr to a letter from Representative Whit
thorne chairman Of subcommittee Of the Com
mittee Naval Affairs. investigating charges Of NAL
feasance in ONCE against ex-Secretary Of the Navy
Robson and others. Mr.. W. W. Wood, exChef of the
Bureau Of Steam Engineering. has submitted list Of
witnesses for examination and expressed his inten-
ton to appear in person before tho committee on
January