Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-01-03


rotary OF the treasury, on the successful return
TO specie payments in the accomplishment o1
which great work he has borne SO distinguished
part.
Practical Resumption.
PAYING INTEREST
WASHINGTON, Jan. 2.-The interest on
registered bonds falling due yesterday is be-
ing paid at the treasury department to- day.
A majority of the holders of bonds are TAX
ing legal tenders in preference to coin checks.
Holders of checks, for large amounts, how
ever, principally banks, ara taking coin
checks. Treasurer Gilfllan to-day said If
the experience at other points is similar to
that here, nearly all of the interest remain
ing unpaid will so out in legal tenders. The
amount that will go to New York on coin
checks will be very small indeed, compared
with the amount of interest due. Secretary
| Sherman was in Geographic correspondence
with Assistant Treasurer Hilhouse and 9th
Ell persons in New York He received q
number Of kilograms during the day, and he
stated they showed everything to be quiet, as
expected would be the case.
PAYING IN PAPER
Treasurer Gilfllan late this afternoon re-
ceived the following dispatch from Assistant
treasurer Hillhouse at New York: "A large
proportion of the gold checks paid in United
States notes to-day at the request of the
holders.''
The amount of interest paid at the treasury
III this city to-day was $1,000, all of which
was paid with legal tender notes except
S2,S61, for which the holders of coupons
asked and received coin checks on New
| York. The holders of no,
fore received coin for them, but to. day for
the first time they had to take legal tenders
or a coin check on New York. Many accept
ed legal tenders, though not without some
growing, and others as above mentioned de-
manded the coin checks. Secretary Sher-
man was in his office until o'clock, and ap-
peared IN excellent spirits A number Of
kilograms received by him were sent over TO
the President, one from Assistant Treasurer
Hlllhouse, received early in the day, to the
effect that the amount Of gold demanded for
United States notes was insignificant. Just
before the close OF the Office one from AS
| sistant Treasurer Hillhouse, giving the
amount disbursed as $4,000 and the re-
celpts $500, 900, was received and read with
much qualification.
FLUCTUATIONS.
New YORK, Jan. 2.-The chamber of COM
! merce to-day adopted revolutions felicitating
the country upon resumption: congratulating
Secretary Sherman for the success of his
policy: recognizing the help of the city banks
IN cooperating with the treasury, and thank
ing Congress for the establishment of the
national banking law: 4 resolution was also
adopted, calling on Congress to avert the
danger attending the adoption of silver as a
m CJ1r of lnac Ixra
as to further limit the coinage of the silver
dollar, and its use as legal tender.
At NEW YORK.
New YORK, Jan. 2.-Gen. Hillhouse,
United States sub-treasurer, states that re-
sumption, SO far as the working of his office
was concerned, had been attended by most
gratifying success, and that there appeared
to be no demand for payments of coin there
In exchange for paper, such calls being very
insignificant Up to 2 o'clock the sub.treas-
ury had received over 100000 in gold, in
exchange for which was issued legal tenders
and certificates of deposit, while on the other
hand it is estimated that the disbursements
of coin would not amount to over 1926, 900.
Flags are flying everywhere because of re-
sumption, yet there is nothing at the treasu-
~ banks nor at any of the exchanges to make
the day different for ordinary dull DAYS.
Special arrangements sufficient to meet any
demand had been made at the sub-treasury
to pay out gold for legal tender notes. The
clerks in charge of the new department ey-
pected to be very busy, but they have very
little to do even to the close of the days bu-
siness Reports from leading banks agree
that the amount of gold coming in to them
IS larger than the amount going out Mel
Their the banks in domestic or foreign trans
actions, nor foreign bankers, nor even spec
uiators, make any difference to-day between
gold and legal tender and National bank
notes. In the gold room dealings in gold
have given way to dealings in United States
bo1Its, the latter being all the business now
| done in that hall.
New YoRK, Jan. AT the sub treasury
to-day men who presented gold certificates
answered the clerks question Gold or
greenbacks?' with ssgreenbacks are good
enough for me" Or sgive me bills; what do I
want of gold?' One German said "Bills,
bills! Do you want me to tug coin around.
The clerks said two hours after thew
had begun paying gold out nobody wanted it.
We have received enormous quantities of
gold certificates, and every one of the mes
sengers demanded either notes of larger de-
nominations or clearing house certificates
There was little divergence of opinion on
the subject of gold as a working medium of OK
change at par, and some bankers insisted that
heavy gold balances would Immediately in.
crease instead of decrease. One nationa
bank sent 100000 in gold to the sub treas
ury. Some of the men about the gold room
most of whose business lives have been ident
fled with traffic, look very much dis
couraged. The scene was almost laughabl,
as men who had entertained the hope tina
there might be small speculative, or a
least lone market after to-day, sat ant
gazed at the word par, which stood on tn
blackboard in the largest letters that tn
5 faithful conveyor of information would hold
3 Register Merseredu sat behind the des
which he has occupied for fourteen year
f in the gold exchange and gol
t room jointly, but his last work was summe
I up in the line. .sGoid 10 A. NJ, 100 fat,
g fer nothing had been added to it. Their
y was not sale and not a question. A
/. twenty minutes to IL o'clock he said "I'y