The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-19
se,2l9,Ooo

TOTALS. So,Zl9,ooo 4,soO,oOo
Receipts to-day $760. 900.
The subscription to the four per cent loan to-day
amounted to S49O, 300
RECEIPTS OF THE PATENT OFFICE.
Tho receipts OF The Patent Office from January to
May !, 1875 were $3.50. 963 26 The expenditures for
the Same time, exclusive Of the $4,000 Tor re-
pairing models injured by last years Are, were
$lSS, 377 49, showing excess of receipts over
pcnditures OF S75,5s5 S. At this rate the surplus
for the year would be $685. 1855, much larger amount
than has been derived in u single year. Last
year there was s12l,O0O surplus. which was tho
largest up TO that time. The total amount now in
the treasury to the credit Of tho Patent once Is
$l,lS0, s07.
SECRETARY SIBERIAN on RESUMPTION.
The Evening Star OF to-day has an elaborate article
on the subject OF resumption OF specie payments on
the LIST OF January next believed bavo the sanction
OF the Secretary OF the Treasury, and in which it is
said there can be nothing In tho way OF his having
the Treasury next January tho amount OF coin
rcsuming that be has calculated TO have-naineiy,
$2O6o0o,00o with this amount It IS evident that ha
caD, without any difficulty redeem his then oustand
ing S2s7 200, 900 IN greenbacks Tho Secretary
does not Anticipate that he viii be cailod
upon to redeem moro than s1o2, 00o,QCo
but is securing coin TO meet any emergency. IL is
thought that grcenbacks, being redeemed in gold or
silver, will be preferable to the bulky coin to the ma
jority OF people
The premium on gold has fallen to a fraction OF a
cent and will very likely disappear before the ro-
sumption date. The only thing that Keeps 1t above
par Is, moro than likely, tho TACT that customs
duties are payable alone In this coin, ana tho
chances arc that tho passage (which IS almost
assurco| OF tho oil making grocnbacKs rccciv-
able tor such duties will cause that slight premium
TO disappear. Our imports larger than
our exports and the balance OF trade Is In favor
The yearly gold payments by tho government tor IN
tercst bonds is about 800 000 600 which is more
than covered by the receipts from customs, which
are not calculated for use in resumption.
Taking all these facts into consideration, and as
Stunning that there Will not DO European dram ON the
American gold market, which there Is no apparent
reason to suppose VIII take place, 1t seems clear that
practical resumption by tho government itself on
tho date fixed ~ assured.
The national banks win also have TO resume, and
arc preparing for the event Thor total circulation
Is about $780, 24o 475; deposits s66l 577 making
the total Liabilities about s96Jesl0052 Their total
cash resources, including tho nve per cent
resumption fund In tho Treasury, as required
BY law. = about $S5o,2oi,o 55. Every dollar
oil their not6 is by United States bonus to an
amount OF at least ten per cent greater than tho
amount Of notes outstanding. Thcsc bonds are OF
ready sale. and the ordinary course oil bust.
moss DO easily converted into any kind OF money In
banks other than national there arc deposits Of some
81. 600, 100000 Those are private ana individual
tanks, however and their Liabilities not In any way
connected with the.governmcnt.
INFLUENCE OF AMERICAN COMPETITION on
THE hSolIsH COTTON TEADE-vIEws OF
cossuL GENERAL BADEAU.
The Department OF State Is IN receipt OF a despatch
from Consul General Badeau, OF London. in re-
Iasion 20 The disastrous strikes OF British
operatives and tho influence OF the compc,l
ton OF American manufactures in tho mar
kets OF England. La tho discussion between
tho cotton manu- facturcrs OF Lancashire ana tho
weayers now on strike there. and in the comments
u tho press thereon u Is generally although IN.
wiillngy, conceded that American competition has
potential Influence In d,mnmhing the English cot.
ION trade NJ home and abroad. England now sends
" the United states less than onc-hri the quantity
OF goojs she sent In 1900. while tho other ma nd 1t
Is stated that ooo pieces OF goods nave been
shipped weekly IRON Now York aud Boston 90 Eng.
land Tor two OF thrce years.
SUPERIOR AMERICAN GOODS.
has becu said that these goods have been gold a,
loss IN order TO realize cash. cut this is denied by
excellent Authorities. The Times attributcs tho In
crease OF American manufactures ut tho cost OF
British industry 10 tho superior quality and
equal or cheaper prices Of American cot.
tons, besides genuine domestic advantages In
the process Of manufacture. The SATURDAY.
Reviec declares that American products are probably
competing with British goods only In tho Eastern
markets. but IN England itself, and attributes tho de-
cline OF the Eastern trade to the "rauduisnt folly OF
English manufacturers. who have lost their customers
BY pamiug Oh them adu,ora,oa goods,
a. vol M 10 the fact that the Ameriean
cotton manufacturers can produce a less
cost than the British General Badcau advocates tho
policy on the par, Of American producers OF carefully
maintaining tho superior standard OF their goods and
selling al low and comparatively unrcmunerativc
ratios Tor y time. by winch means. added TO our
natural advantages, a still greater share in the