The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-02-03
GENERAL WASHINGTON DIES PATCHES.

WASHINGTON. Feb 2. 1878.
A METHOD TO UTILIZE THE PEOPLES Saw
INas AND ENABLE THEM TO OWN GOVERN
MENT BONDS.
Representative Phillips, Of Kansas yesterday intro
duced bill provide for funding tho savings Of the
people pppular loan and to make 1t interconvorsi-
BILE 1t provides for receiving savings At postal saw
ings banks, IN amounts OF twenty fvo cents and up
ward and when the OF $40 has been accumulated
on any account, postal order 10 to be issued,
which may be placed In IS bond, the To-
terest payable quarterly, which bond Is at option
recoverable into legal tenders Tho bonds shall be
issued on the postal orders denominations OF $40,
500 $50 and 500. by the Treasurer Of the United
States, assistant treasurer or government deposit
ary. The proceeds are be invested In paying six
per bonds subject to call, and $780, 700 to DO
held for reconverson. This bill has been considered
In the sub-Comm ittee Of Banking and Currency
and was reported to be printed. 1t 10 q
substitute for several bills, and takes the parts Of
Secretary Sherman's bill not Objectionable to the
jorty of that committee, coupling with 1t the inter-
convertible feature, and providing, addition, tor
the reception Of savings OF lower amount bill
similar in It's provisions will probably be reported
from the Committee on Banking and Currency at
early day.
FUND FROM BANK ZINES, AMOUNTING TO
EIGHTEEN HUNDRED DOLLARS, MISSING
ANXIETY AMONG TREASURY OFFICIALS.
During the administration Of Mr.. New United
States Treasurer, 1875 packages Of money coming
TO the Treasury Tor redemption In great many
instances were not put up in conformity with
the regulations established by the Treas
ursr for convenience counting and
handling. Mr.. Now accordingly established a rule,
which he enforced, imposing fine on all banks and
business firms sending packages OF money in incon-
vcnient form for counting. This was done 10
pensate the office Tor the extra trouble and time In
voiced in counting. During his administration these
fines amounted 10 gross sum OF about Sl,s00
When the Treasursr's olice turned over to Mr..
wyman, tho committee appointed to count tho
cash IN the Treasury treated this sum, which
belonged to neither tho cash balances proper
nor any particular fund, as 80 much over,
and SO reported 10 the Secretary. Tho money was
then In charge OF the dnef OF tho Redemption
division. In July, 1876. the attention OF the Score
tary was called TO this money, and he wrote tn the
Treasurer making some suggestion as TO tho proper
manner Of covering into the Treasury. Tho Treas
urer thercupon prepared list Of the banks and busi
ness firms from which this sum had beon exacted,
and transmitted the list to the Secretary for his de-
csion as TO what disposition should be made OF the
mo ney. Ithappcned that the matter decided
ut ALL and in the meantime Mr. Wyman, supposng the
Secretary had caused II to DO covered into the
Treasury gave further attention to the matter and
II was forgotten. Quite recently, however, tho matter
came up again. An inquiry was made as to whether
that sum had over gone Into the Treasury careful
inspection OF the books discovered such record.
Tue present Secretary at onco instituted nvosti
CATION as TO the whereabouts OF tho money, which
when last seen in envelope tho
sale Of tho then chief Of tho Redemption
division. II could not be found. and at once
active search made for tho missing package. and
up to four O'Clock Saturday afternoon had been
found The Treasurer forthwith communicated tho
facts 10 Secretary sherman, aud at last advces the
matter rested in that condition Tho mysterious dis
appearance gives great concern to Mr. wyman, tho
late Treasurer and to Mr. Guthere, late chief OF
the Redemption division, and Will continue to do
until something snail DO developed 10 explain what
actually became OF tho money.