The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-02
The Amount Of Coin and Coin
Liabilities.
A RESPONSE TO THE NEW YORK BANKERS.
Ready to Antagonize the Banks
If Forced to 1t.
SALE OF BOMBS AND POWER OF REISSUE
[rRoM OUR SPECIAL CORRESPONDENT.

WASHINGTON, April |, 1878.
Secretary Sherman was before the House Commit
tee Banking and Currency three hours to-day
and was subjected to searching cross examination
by General Ewing upon the views advanced in his
cent interview with the Senate Finance Committee
relative to the resumption OF specie 1879
The examination took wide range ana tcrmi-
mated SO unsatisfactory to Mr. Ewing that at tho
close Of tho sittng he expresses desire an
engagement TO further nerogato the Secretary on tho
subject Mr.. Sherman at mo loss for ready
answer to tho critical questions OF General Ewing
and entered into tho spirit OF tho examination with
such zeal that the examiner was evidently taxed in
several instances TO furnish satisfactory replies
sprightly rejoinders OF tho witness Tho cxarnina-
ton assumed the form Of an argument and was car
ried with much vivacity both sides. Tho Two
gentlemen sat facing each other, with stack OF books
and papers table between them. The chairman or
the committee, Mr. Buckner, occupied the end
OF the table, within an arms length Of either, while
Mr.. Chittendcn sat between tho chairman ana Mr..
Ewing, greatly interested and most OF tho time
silent listener. Other members OF tho committee
threw IN occasional questions
Mr.. Sherman maintained in the most emphatic man
ner throughout that with tho assistance OF auxiliary
legislation by Congress enabling him 10 dispose Of
bonds to the required amounts no could successfully
carry out the provisions OF tho Resumption act
THE CONFERENCE.
The Secretary gave the following sums as the
amount OF gold and silver coin and bullion on hand
2sth OF February last at the Treasury the
various sub-treasuries, assay Offices and depos
tories
Goa a CON- com sl'sssl' aO9
Subsidiary silver CON- ................ 5675. 4g4
Silver bullion. Observation-Disclosures. 1855, SIT
Total ......... .................... 1914 92o osO
IRON amount TO DO deducted the same
items stated IN his conference with tho Finance Com
mee Of the Senate s62 4I6 500 being for gold Ger.
t6cacs callcd bonds and interest, interest due and
unpaid and tho amount to tho credit of dsburstng
fccrsL
In reply to question as TO the amount Of bonds
sold up to tic 1st OF February, 1875 and not paid for
the Secretary said that no bonds wcro delivered
until paid tor.
ANNUAL LIABILITIES.
Another question by the committee as to the
usual amount OF annual coin liabilities. The answer
to this was takng tho last fiscal year Us tho basis
Amount applied TO sinking fund ....... 4a75oo
Amount paid Tor diplomats service 7s5, as6
Amount paid for foreign naval service. 2224 l24
Amount paid for customs refunds. ...... 5247 500
Amount paid Tor rcfunding national debt,
parting and rcinding bullion, &C.,. a0I. 027
Total. S102. AGO Cos
Ho explained the items OF customs refunds To mean
the repay mont OF customs duties paid In either
from generalization or from deposits IN advance OF
entrteR
THE SINKING FUND
Another question by the committee as TO tho
10 the account OF tho sinking fund, and as To what
applications OF coin have been tnado on account of
tho sinking fund during tho current fiscal year, Sec
rotary Sbcrmnn's reply TO this gave tho amount of
fractional cuarcncy, applied to the sinking fund
In 1870 as.......... ....."...........s 7,062 lag
IN 1877 H..... A043,45s
For tho expired portion OF the present IFS.
cal year as........ ACKNOWLEDGEMENTS. 3,3s2 62I
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