The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1878-11-29
ABOUT RESUMPTION.

A commission of the associated banks
of Baltimore, appointed to consider
and report upon action expedient by
the Baltimore banks, expressing their
sympathy with and co operation in
resumption by tie Government of
specie payments the first of January,
had an interview with the Secretary
of the Treasury on Saturday, and sub
Initted q series of questions. The
chairman said the questions were sug
gested in consequence of the law pro
viding that redemptian shall take place
in New York.
The questions prepared and submit
ted are:
First-Are United States legal tender
notes to be received at the Baltimore
Custom House on and after January
LIST, 1879, in payment of customs du
ties at their face value?
Second-Will United States legal
tenders be received on and after Janu
uary 1st, 1879, at their face value in
purchase of United States bonds from
the Treasurer
Third-Will United States legal ten
der notes be redeemed in gold at the
office of the United States ASS tant
Treasurer in Baltimore on and ter
January 1st. 1879?
Fourth-Will the staudard silver
dollar be issued in exchange for green
backs in Baltimore on and after jan
uary 1st 1879 and contrariw;se: that
is, will green backs De issued for
standard silver dollars.
Flfrh-Will the-e be an issue of
certificates of d. posit Of silver with the
Assistant Treasurer of the United
States ut Baltimore. and will these
certiti 4tes be treated rs silver coin in
paymsnt of customs duties and other
indebtedness to the Government
Sixti-Will the Government, af;er
January 1st. 1879, continue the issu
lnce of certificates of deposit of legal
tender notes, COIL monty kn Dwn as
clearing house certificates?
Secretary Sherman re Lied: I infer
red, gentlemen, from the appointment
you made with me, that some such
questions as you now propose would
be subutitted to me. But rs the law
requires NE officially to report to Con
gress in little more than a week upon
the very topics you suggest, it would
be manifestly improper for me to now
discuss them in such details as frank
ness would require; but 1 may say a
few things which win substantially
answer the object of this interview
1t is true that actual redemption is
confined by law to the Office of the
Assistant Treasurer at New ] ork.
tt IS is wise provision, for it would
be inexpedient to scatter redemption
funds SO that they would not be read
lily available. Redemption in New
York, the chief commercial city of the
country, establishes the equality of
United States notes with coin, and
this is the main thing, and carries with
it their equality in all parts of the
United States. The difficulties sug
gested by the Baltimore banks could
be met by either OF several expedients.
First-This department can now. by
express provision of law. sell or ex-
change coin for greenbacks This has
been done for years at Boston. Balti
more, Chicago and other leading ports,
at the same premium fog gold as the
market rate at New York. This could
be continued after January LIST, when
at New York the rate will be par, and
therefore the same else where.
Second-United States notes, being
at parity with coin. can, I think,
under the existing law, be received for
customs duties, end required by law to
be paid to the Government by acitizsn.
and it is the purpose for which 1t Is
usually desired. If there is any doubt