New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-08-20
AN 1NrEBESTTyG STATEMENT.

The Treasury statement of assets and haDli-
ties, July 81, has just been issued. ms
statement which was not prepared py any
Secretary preceding Mr. Sherman, Is es-
pecally interesting because it shows what the
Treasury balances consist of, and where they
are, and what immediate obligations stand
against those balances. The statement for
July 81 is peculiarly noteworthy. 1t shows
that the Government had on that date no less
than $50, 557 OF in coin on deposit with
National Bank depositaries, besides SlO,53o'-
338 81 in currency. The large increase OF
coin deposits explains, as we have repeatedly
suggested, the steadiness of the gold market
notwithstanding the heavy subscriptions to
the four per cent loan. Had the whole amount
of coin payable for bonds sold been withdrawn
from the market during the period lnterVen-
ing before corresponding calls for SIX per cent
bonds mature, there must have been serious
disturbance In the gold market, and cOnsld-
cradle advance in the premium on gold. by
leaving the gold with banks, which deposit
United States bonds as security, either those
called or others of like value, the market Is
relieved, an advance in the premium is pre-
vented, and the Treasury holds from the day
ity of those calls it can lawfully redeem OF
theiE equivalent.
In gold coin and bullion the Treasury held
S132,O14619 Al, and in silver coin and bull
lion S21, 1858, 249 SO. 1t is noticeable that
the amount of silver certificates on hand was
50 .647, $40, which shows that the Treasury
promptly gets back through payment OF du-
ties nearly all the silver certificates as well as
the silver coin, az fast as either are issued.
The Treasury had on hand $7,73O,33l Us IN
standard silver dollars, so that the amount up
to that time successfully forced into actual
circulation by all the efforts of the Treasury
WAS insignificant Although everything In the
power of the Treasury has been done to in
duce banks to assist in creating a circulation
for the silver dollars the entire demand from
all the banks does not average more than
$500. 900 weekly; and no small part of the
coin thus put out speedily returns through
payment of duties or taxes. The Item
Silver coin received IN heu of currency,
81, JOY, 500 49," is supposed to represent
in part, payments of silver dollars
for internal taxes. The Treasury also
held SI4117,s24 80 in national bank
potes. of which $9,453,374 81 was
received as part of the five per cent redemp-
ton fund, and had not yet been redeemed
Including deposits with banks, the Treasury
had on hand about $57, 100000 in currency.
besides bank notes, minor coins, and redeemed
certificates.
The specie on hand. exclusive Of deposits
with banks which represent bonds in process
of refunding, was about $153,OOO,O0O, and
the charges against that fund were, of coin
certificates, about $23,745,000, of interest
dine and not represented by coupons in the
Treasury about $S,5S9,000; transfer checks,
disbursing officers accounts, and minor items,
about 81, 800, 000-in all about $50, 1873, 900.
In this account the entire deposit of specie
with banks is supposed to be required TO
meet calls for bonds which have already
matured or will soon mature. But even with
this reduction, the balance OF actual specie
ON hand in excess of present obligations is
about S119,O0O,O00, aud, of course, a much
larger amount will be really available for
purposes of resumption. We still hope that
the Treasury may soon find 1t desirable to
begin to pay out small gold coins for the or
binary obligations of the Government. Last
week 100000 in gold was exported and
meanwhile the attempt TO get silver into cir
culation has entirely failed, as 1t must until
small notes are withdrawn from use