The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-30

but all who expressed themselves on the
subject were agreed that the plans Of the
Secretary Of the Treasury were inade-
quate, and that II he should make an at
tempt TO resume on the 1st Of January
under such circumstances as were likely
to exist at that time, the attempt would
most probably fail. They were Of the
opinion also that the reconciliation Of
silver had seriously interfered with the
probabilities OF resumption at the time
fixed.
Mr.. George Bliss said that 10 his judg-
ment there must be considerable export
Of gold during the next few months,
which, Just TO the extent that It depleted
the stock in the country, would OF course
reduce the probabilities Of safe resump.
ton next January. Under the banking
system, as it formerly existed, IL was In
the power Of the banks to check the ex-
partation Of gold when they chose to do
90, but the legal tender note system was
system which restricted their power in
this respect. 30 that there was now no
effective means at the command OF the
banks to prevent gold from going out. Be.
sides this the effect OF the agitation for re.
monetizing silver had been to cause u
return Of government bonds held by for
eigners In the place Of gold, which, but
for that agitation, would have come into
the country in the place OF bonds. The
total OF bonds returned since the agita.
tion began he estimated at seyenty.tiye
millions OF dollars, and more importa.
tions were to be effected, still further in
teriering with the importation Of gold,
and, indeed, promoting its export. In
proof OF this he called attention to the
TACT that gold had already reached the
shipping point much earlier than was
usual, and shipments might be expected.
Mr.. BIB. Sherman said that nineteen.
twentieth OF the gold belonging to the
banks 10 the other cities, as we'll as in
New York, State and national, was in the
form OF certificates, and that there was
no considerable amount OF gold in the
country, except in the Pacific States, out.
side OF New York. There was none OF
any consequence in the savings banks or
In private banks. He said that some OF
the banks, both here and in Philadelphia,
we're now buying gold on speculation in
anticipation OF rise in its price. He
thought that the RECOMMENDATION Of silver
had seriou.ly interiered with the pros
poets OF resumption, and suggested the
probability Of the disappearance Of gold
from the country.
None Of the bankers dissented from the
views expressed by George Bliss. Mr..
Vermilye and Mr.. b. B, Sherman thought
that resumption according to the plans
Of the Secretary would probably fail
when attempted to be put In operation.
They had no doubt Of the practicability
OF resumption at the time hxed, nolwith.
standing the reconciliation Of silver, II
the Secretary was to resort TO sufficiently
energetic measures, and seemed 10 think
that no very extraordinary amount Of
gold would be required II faith in the
stability OF resumption could be once
established.
One OF them said he would like to
"pre-emp." the head OF the line that
would be formed at the sub-treasury
doors when they were opened for specie
payments TO make demand OF gold for
notes, and Mr. Cox said that to be at the
head of the line would be worth fifty
thousand dollars to whoever might get
It. This gentleman said also that al
though Mr.. Sherman might exercise his
right to pay silver instead OF gold when
he began paying, still the supply OF all
yer possible TO be provided would not be
40 great.
GENEVA AWARD.
The House Committee on Judiciary
held q meeting to-day on the subjsct Of
distributing the remaining part OF the
Geneva Award. A vote taken showed
that insurance companies would not be
included in the distribution. An ad-
journed meeting will be held on Monday,
when, Il iS expected, definite action will
be taken.
PACIFIC RAILROAD COMMITTEE.
The House Pacific Railroad Committee
have practically sgrced upon bill.
With reference 10 the pro rata queSlion,
they determined that there should be
three Commissioners 10 FIX the rates, the
first set to be named In the bill. The de-
tails Of the bill arc 10 be perfected BY a
sub committee. consisting Of Rice, Chal-
mers and Hewitt, Of New York. The bill
will be combustion OF those Of Chal-
mers and Rice. The part giving power
to the Commissioners to take possession
Of the roads In case Of failure 10 comply
with the conditions imposed Is stricken
out
GOLD AND CURRENCY IN THE TREASURY.
Although nothing official can be OBJ
tanned upon The subject the indications
are that the currency balance, as 1t will
be shown In the public debt statement to
be issued on Monday next, will be lesl
than million dollars. The coin balance,
including the coin certificates, will prob
ably appear somewhere between one hun.
dred and thirty.tiye and hundred and
forty millions. The amount OF addition
al circulation isaued to National banks
for March Is S96l, $40. Legal tender notes
destroyed, so per cent Of the same S769,-
wHsKY RAID.
Collector Brayton tslsgraphs from Co