The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-05-20
SPECIE RESUMPTION.
What sherman Thinks OF The Pros
meet,

WASHINGTON, May lS.-The EUsnng
Star has an elaborate article on the re-
sumption specie payments, and 1t is believ-
ed TO have the sanction of the Secretary Of
the Treasury. 1t is said there can be
nothing in the way of the Secretary hsv-
ing in the Treasury next January, the
amount of coin for resuming ne has cal
ulsted on, namely, $2O5O00.OO0. With
this amount he can, without difficulty,
redeem the outstanding $2S7OOO,OCO in
green backs. The Secretary does not an
ticip.te that he will be called upon
to redeem more than lO2,OOO, 900,
but is preparing coin TO meet
any emergency. 1t is thought that green
backs, being redeemed in gold or silver,
will be preferred by the people to bulk
coin. The only thing that keeps gold
above par is likely the fact that customs
duties are payable alone in this coin, and
the chances are that the passage OF the
bill making grsenb backs receivable for
such duties viii cause this slight preml-
um to disappear. The imports are larger
than the ex ports, making the balance Of
trade IN our favor. The yearly gold pay
ments Gy the government for interest on
the bonds is about 800, 100000, which is
more than covered by the receipts from
the customs, which are not calculated for
use in resumption. The National
banks will also have to re-
sume. Their total circulation
Is about $299, ,240,475; deposits s66l,575 =
SIT, mskipg the total liabilities about
$3.50, ,8I5,052. The total cash resources
including five per cent redemption fund
in the Treasury as required by law, are
abeut $3.50 POI, ,055. Every dollar Of
their notes is secured by United States
bonds to an amount of at least 10 per
cent greater than the amount OF notes
outstanding. These bonds are of ready
sale and can in an ordinary course Of
business be easily converted into any
kind of money. In banks other than
national there are deposits OF some $780,
100000. These are private and individ-
usl banks, however, aud these liabilities
are not IN any way connected with the
government.
weekly Treasury statement.
WAsHIEGToN, May l8-The Treas
ury now holds $348,539,S50 in United
States bonds to secure National bank
circulation, and $l8,68l, 900 in bonds to
secure public deposits; United States
bonds deposited for circulation for the
week ending to-day, Sl,26S, 400; United
States bonds held for circulation with
drawn for the week ending to-day, S794,-
900 National bank circulation outstand.
ing of currency notes, 1922 ,445,54l; gold
notes, $1,432l20; Internal revenue re-
ceipts, $405, 5,697; Customs receipts, $500
553; National bank notes receipts for the
week ending to-day, compared with the
corresponding week Of last year, 1871,
total sc, ,29l 600; for 1878, s4,9SO,OOOi
receipts to-day. s760000; subscriptions
to the four per cent. loan to-day, s4sO,8OO.
Patent Office Business.
WASHINGTON, May l8.-The receipts
of the Patent Office from January lst to
Nav lst, 1878, were $263,963; expendi-
lures for the same time, exclusive of the
S45, ,OOOO tor repairing the models injured
by the late fire, SlSS, 1897, an excess OF re
ceipts over expenditures of S75,5S5. At
this rate the surplus for the year would
be S266, 755, much larger amount than
has ever been derived in q single year.
Last year there was surplus OF Sl2l,-
600. The total amount in the Treasury
to the credit of the Patent Office is
$l,lS9,S07.
Mexican Affairs.
WASHINGTON, May lS.-Information
has reached the city that the sdherents
of Lerdo in Mexico have abandoned their
efforts tofncite revolution.
Our government has communicated to
Minister Foster the facts concerning the
depredstions upon American territory
by the Indians who cross the border from
Mexico and Mr.. Foster will inform Presi-
dent Disz.