The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1880-06-11
THE GLUT OF SILVER.
Vast Piles in the New York Sub-Tress
ury--Their Continual Increase.


New York Post
In view of the complaint OF Assistant
| Treasurer Stillhou.s, in his recent letter to
Secretary Sherman, concerning the great
aod increasing accumulation of silver a,
the sub Treasury In this city, some add.
tional facts were obtained to-day by q
reporter Of the Post.
Mr. Britton, the cashier, and Mr.. Ashley.
the Chief of the Coin division, exhibited
the huge vault for the storage of silver
which has been constructed in the base
meet of the sub-Treasury. In the various
tcompart meHts Of this vault, which is forty
seven feet long, twenty seven feet high aud
twelve feet long, inside m 'asuremant, yhere
are now slowed away about SEQ. .4l9. 900 in
s,ivel, amounting in weight to about 6l24
tons. The $65, 1875. 900 iu gold now at the
snb-Treasury weighs but 1901 tons, and ip
bulk the proportion Of gold and silver Is
but as to 81. or the vast mass of silver
there are about $47 500 in hall. dunes ; ST..
OO4, 900 in dimes; 50 1923, 900 in quarters ;
80 $50 coo in halves and $l2. All. 900 in
standard dollars. No trade dollars are r, -
ceived, but the "buzzard" standard dollars
continue to pour in and to pile up. without
being Of use, apparently to any one.
They are packed in canvas bags containing
One thousand dollars each, aud weighing
between fifty-nine and sixty pounds, which
are ranged in the vaults row upon row. and
are constantly nearing both the roof and
the passage way. In order to prevent con-
fusion it is necessary, Of course, to keep
each denomination of cniD separate, and
this fact assists to limit the available space
for the dollars. The capacity Of the vault
has not yet been reached by any means, ani
will not be- when many millions more have
been received, but there are serious Ohjec-
tions to cramming the compartments as
full as possible. With the carefulness IN
slowing which Is practiced. there may not
be much danger Of bursting the iron lattice
work partitions by the lateral pressure of
the coin but the packing Of the bags in
SO many tiers tends to make it very difficult
to count the deposits correctly at the regu-
lar inspections. A rehandling Of the bags
on every occasion of counting is, OF course,
ont Of the question, when the weight and
bulk involved are 40 enormous
Small silver coins are continually f)wing
into the sub Treasury for redemption, the
Manhattan Railway Company alone some
times presenting as much as $25. 900 worth
at time. They are redeemed by silver
certificates. which are easily disposed Of
through banks to importers. as they are re-
cevsble for custom Dues and 30 the csrtif-
icates quickly come back to the sub Treas
ury through..the Custom House. The great
increase of silver in the sub Treasury 10 due
however, to the law requiring the coinage
OF $2 O00, 900 month in silver dollars. The
government depositories &C San Francisco,
CibcinuarI aud Chicago were all flied early
n March. There was but little additional
room in the depositories at Washing on,
Boston, Philadelphia aud Sc. Louis, their
available capacity only being about 81, 2,OO0,-
900 more. In consequences for nearly all
the newly coined silver is sent to this city,
and, as but comparatively little Of It is paid
ont, 1t is not strange that the officers Of the
sub. Treasury are beginning TO question
what the result will be # Congress p-raiits
the stream to flow iD unchecked.