Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-09-20
TREASURY CIRCULAR.
Exchange of Coin for U. S. Notes.

WASHINGTON, September 10. - On
Tuesday il was stated that, on account
of the large accumulation of gold coin
in the Treasury, arrangements were be-
ING made whereby gold coin and silver
coin might be exchanged for L. 5. notes
at the several sub-treasuries. Since
than announcement it has been discOv-
cred that the existing law prohibits the
exchange of coin for legal tender notes
at any sub-trOeasury other than New
York. The order, therefore, has been
prepared so as to conform with the pro-
visions contained in the resumption act.
The text of the circular is as follOws:-
TREASURY DEPARTMENT,
WASHINGTON, September 10, 1879.
Gold coin beyond the needs of the
government having accumulated IN the
Treasury Of the United States by depos-
it in the several public assay offices OF
fine bars and foreign coin, Tor which de-
pOsitOrs have been paid, at their option,
in United States notes, the Treasurer OF
the United States and the several As
sistant Treasurers at Boston, New York,
Philadelphia, Baltimore, CINCINNATI,
Chicago, st. Louis, New Orleans ana
San Francisco are hereby authorized TO
pay out gold coin, as well aS silver coin
and notes, upon current obligations OF
the Government and upon advances to
disbursing officers, as may be cOnven-
lent and practicable. Transfers OF coin
for this purpose will be made to Assist
ant Treasurers, when necessary, by the
Treasurer of the United States, upon APP
plication 10 him. The Treasurer OF the
United States in this city, upon receipt
bv him of certificate of deposit issued
by the Assistant United States Treasurer
at New York, stating that there has
been deposited with him legal tender
notes in the sum of one hundred dollars
or multipleS thereof, will also cause to
be shipped from the mint ut Phlladel-
phia TO the depOsitCr, at his RISK ana
expense, a like amount OF gold com.
Standard silver dollars may also be OBJ
tained as heretofore The exchange oil
gold coin for United States notes at the
several sub-treaSury offices, except at
New York, appears to be prohibited by
sectio 3,65l of the Revised Statutes oil
the United States, but it is believed that
payments of coin, rs above authorized,
will enable persons to secure all that
may be desired.
lSignedl JOHN SHERMAN,
Secretary.
Section 1851 of the Revised Statutes
provides that "nO exchange or funds
shall be made bv any disburSing officer
or agent OF the government OF any grade
or denomination whatsoever, or con-
nected with any branch OF the public
service, other than an exchange Tor gold,
silver, United States and National bank
notes and every such disbursing officer,
when means for his disbursements are
furnished to him in gold, silver, United
States notes or National bank notes,
shall make his payments in moneys SO
furnished, or when they are furnished
to him in drafts shall cause those
drafts to be presented ut their place OF
payment and properly paid according
10 law, and shall make his payments in
money so received for drafts furnished,
unless i'm either case he can eXchcnge
the means in his hands for gold and sill
yer at par. And it shall be the duty OF
the head of the proper department I'M
mediately TO suspend from duty any
disburSing officer or agent who violates
the provisions of this section, and forth
with to report the name OF the officer or
agent 10 the President with the fact OF
the violation and all the circumstances
ACCOMPANYING the same and within the
knowledge of the Secretary, to the end
that such officer or agent may be
promptly removed from office or re-
stored to his trust and the performance
of his duties, as the President may deem