The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-19

The decrease in the note balance arises from vari-
Gus causes, notably from the receipts for customs
and internal revenue of coin paid out in the pur-
chase of bullion for the coinage of standard silver
doars from the exchange of notes for gold and the
payment of notes for foreign gold received at the
Assay Office New York; from the purchase of gold
bullion with notes and the payment of interest upon
the public debt in United States notes and from the
payment of arrears of pensions.
The most constant influence in the decrease Of the
note balance Is that which proceeds from the pur-
chase Of silver bullion for coinage. thereby depriv-
ing the Treasury OF al equal amount of note re-
ceipts. All the above mentioned causes OF the dim
mutton except this be controlled by the depart
ment Since resumption, however the Treasury is
deprived by the receipt Of coin paid tor bullion OF
like amount of United States notes. amounting
probably to seven per cent Of the annual
This percentage is greater than the margin between
the public receipts and expenditures, and viii in
time. without the other influences mentioned,
render the balance in the Treasury first ex-
clusively metallic. and then exclusively silver.
That this is 50 a., "a glance at the . mon
MONETARY OPERATIONS.
The annual receipts from all sources are
S274 100000 OF this amount at least S24 900 IL
in silver dollars or in silver certificates that being
the minimum paid annually for silver bullion for
coinage. which amount speedily finds its way INTO
the Treasury, the more certainly because payments
for bullion are made either at New York or San
Francisco which both centres of large receipts
by the government. The maximum net note re-
ceipts arc then s25O.OOo.O0O against which
are payments of s2e7.ooo.ooo for general OK
penditures, interest on the pubic debt,
war and navy establishment and pensions made
In notes. or. IL made In CON- its return decreases
the note receipts to that extent The OF note
expenditures over note receipts ~, therefore.
Sl70OO00O. which is the annual decrease of the note
balance from the silver dollar coinage alone. or the
s59Gy9 $50 note balances of the Treasury September
80, 1872 but 500 6s6 is available the Remainder
being simply credit with depositing banks.
| "Thc arrangement by which the Treasury became.
In January, a member Of the New YORK Clearing
House.. the Treasurer says "has been of incaIcula.
BILE advantaae in establishing resumption and in saw
| ing useless handling OF money and NAV Ne made 10
check the depletion of the Treasury Of notes
by permitting the settlement Of balances in coin TO
the extent that any exigency may demand. But nj
| present tho Treasury membership inures 10 the
| benefit Of the Clearing House banks, and unless
change I'm the rules Is made, permitting the pay
ment OF all or certain percentage or balances in
silver. IL NAV become desirable for the Treasury to
withdraw from a relation which renders over thirty
mlions OF lawful money in its vaults unavailable
for payment at New York, the point of great
est public disbursement. All checks In pay.
nent OF called bonds and In payment
for foreign gold are now paid In gold.