Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1879-01-16
HOUSE.
Treasury Statement.

I'm response tu a resolution the speak
cr submitted communication from the
secretary uf the Treasury, transmitting
supplemental statement ui the hal-
anccS on the loan account IN coin,
standing To- the credit oi the Treasurer
of the United States in National Bank
repositories ON the first uf January,
1879, the aggregate amount ut balances
WAS $40, SOS. lGS. The larger amounts
were: First National bank. y. Y, 80
lU7. .94S: National Bank oi the state ui
New York, $7,l55.0j4; Bank oi New
York National Banking Association.
~. AL Al: Maverick National Bank ui
Boston, Si,s42 ,HH; National Bank ui
Commerce. New York. 7,"2N; Ma
tiunal Bank uf New York, u l,5lS.52
Monument National Bank uf Boston,
II, ass. .52l. The remainder l. distributed
among iorty-eight hanks, IN suuS rang
ius from 800 To S.1O.ON
Treasury Certificates Of Deposit
MIR. Wood chairman oit the Way- and
Means Committee. Reported back the
bill authorizing the issue Ui certificate
IL deposit IN aid "f rcfuuiing the public
debt. The hill authorizes the Secretary
ot the Treasury L. issue in exchange Tor
lawful money | nitcd States certificate
ui deposit oi thc denomination "f ten
duilars, hearing interest at the rat" pl
three per cent, and convertible al any
time, with accrued interest. int" tl,e
four per cent. bonds authorized To be j.
sucl, ami dirccts that thc money =" rc-
criyahle shall he applied only % the
payment ri 30 bonds,
Mr. Kelly, Of Pennsylvania submitted
an amendment - a. Ia make certificates
convertible With accrued interest after
sI months int" lawful money.
and At any time int" per cent h"na-.
MT. Wunds u.illtsi attention 10 the Till
as intnduCing nuvel katuro> int" the
afiairs OF the government ~ tar - the
producing Cla~-es were concerned. IL
would afiurl the pDorer ,la-~e- an "p-
yuTtuRity "i inye-ting their small earn
ings " here they would h. safe anil
-eCurc, and not subject to the instability
1T private CORPORATIONS. lt VA prup'e-
ed nv this bill e. make a National
>AyiHgs Banks where there would H. a
I-,,itiyc and absolute security fuT every
dollar Deposited hy the ""T-r cla~s,s,
aud Il,e result vi which would he to
mike ibrse cla@-es II th, I--rplc cu-Iart-
uers m the government It-clL Another
effect VI II would Ne g. rrIHrnt irater-
nal vuRcUr,i throughout the land
Mr.. X vlly said tb, 'Rly provision IN
this hill Nhich Nas characteristic "f
savings banks VA that the Government
Wouh 1NsiNe iCpOsiis a. l0a a. tea
dollar. There WSs u" other. he
United State Government proJsp-sd ~
vRgAg, lAboTiug people IN Gsue "i
chahcP, d which the EEw NRr ~ileads
! win, tails yuu lU-c W hisrIng
man c,uj have auy hrRciit trum the
hill II would turn that cias- Intn
game iIr thv >hylusk, that c"nccR-
trAted about the stock exchanges oi the
country. supIz'ss' poor HIan hasi ds-
I.aiis-l ten dollar. and Epuui himself
uRAhls "a ,kprit In1Te. lie NOuhl
have to wait - ycars and I months
beiUre be WOuld be en,iil,l - inprs>i.
That MAS the redemption pro
J.u-<-l hy the I nIted state WheR
It establishes q savings taRk. IL Na-
said that the certificate might be -Dld-
What WOad a ten dollar certificate,
bearing three per cent iRtepesi, brIng
when q tifty dollar bond, at four per
cent, could b. had ioT par? The laws
of tr.ie NOuld put them far beloN par
whenever they bad a. be sold in the
market. That was the savings hank