The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-07-24
A Glut In silver.

a special dispatch from Washington
to the Chicago Times, says: ''The silver
gorge is causing officers of the treasury a 70 cd
deal OF perplexity. Under tn act of Febru.
airy %, 1878, coiaage must go on until conpre s va
otherwise enacts, The law has been In fofce
now nearly twenty-nlne months, and over on .
000, 900 standard silver dollars have bsen
coined. But only $40, 900, 900 of this is in cir.
the treasury vaults. All efforts to force mi /,
money Into circulation have failed, M d M
sooner does the government ray out siiver
than iteomes back INTO the treasury for duties
or In exchange for silver certificates CON
gress has passed a law requiring coinage bn,
has, OF course, been powerless 10 davis
any plan TO force the money into circulation or
provide secure storage for its accommodation
The mints monthly turn out 81 800 900 TIA
impression has become current that This IA
more than the minimum quantity provided
by law. The statement is...circulated that in
construction OF the law Mr.. Burchard. di.
treasurer, differ. The former hold that the law
requires that at least 100000 worth of bui.
lion must be purchased monthly and coined
making u, 900 900 standard silver dollars II
IL Is also sala tnat treasurer Gllallan CONSTITUTES
the law TO mean that not less than SO OO0 O00
standard silver dollars shall not lie coined
every month, and enough bullion for the nyr-
pose must De purchased, thus showing that
sSoo, oeo,Opo standard silver dollars are
said the law requires. The statement copt,ns
ues that MT. Burchard, being asllverite, places
the most liberal construction upon the law ana
persists every month IN coinng 50, 900, 900 worth
of silver bullion. The assistant treasurer M
San Francisco has already sent word that ,Ss
vaults at the sub-treasiiry there are over.
crowded, and asks what shall be done with tho
sccumulating coin. Vault capacity for sbout
70 ,ooo goo yet remains. About 20, 0oO, 900 more
Tor which temporary provisions for storage NAV
De made BY the treasury department. A couple
OF rooms have been procured at Philadelphia.
simply for storage, but they are not vaults, and
oereiore not as secure as should be, but for this
Songress can hardly hold the treasury ofacers
resp.cnsiple The following Is an
ohicial statement relative 10 st.nd-
ARD silver doll Ars an d fractional silver. The
S9insge ,S OF ssandard dollars commenced in
coined ses, 93iso. Of which smonpt tSare ev re.
NAMED IN me treasury at the latter date stS
Ivy ,S6, and IN circulation there were sis sSg'
isson az ssd lSS ssSIS, were put in crou
fractional silver coin int he vaults ofths .ra Oh
ury has increased to $50, $40 i'm On I I .reas'
tSse' the Increase during the past month be, p
Cotton.
dn take ssf ons on s SSas b ;o actual
n, n pile oils bales. Itshows we don'taf.
IVY anything 70 lie up and rust In Dallas, bnt
mcxM around and keep 1t lively. But pretty NV
anS ali interest has been lost In the markef
ahu We taik about 1t more for the beneiit ~
pianters than town readers. In Liyerpooi ~, ~.
% 1rass, mere was moderate INQUIRY which was
y reeiy supplied at Q 1l-l8 for unlands' ava
Ret A. s non wrieans We quote the Dallas mar.
Low Ordinary.
Ordinary. '''''.''."..'...,..,.... nom
Good (lrslin -. ....'..',s............,.,,. ~!
''' ne'y..''.s,,.,..,... ~.
.