New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-07

800 100000 ~ Treasury notes IN denominations nVt
less than ten dollars, bearing interest not eAceeuing
per cent per annum and running rom one 10 ven
turing during year not 20 exceed the slhking iuu
that year, and the proceeds TO De a1pleu !" pa"
IL beevea tnat with the present favorable state of the
| money market n sufficient amount OF sucu treasury
notes bearing annual interest OF per cent, eau We
sold 10 meet a considerable portion OF the maturing
bonds but 1t better 10 confer upon Tue Depa Ut
rate to avoid the possibility OF failure such dlstre
ton is mo- likely - be abused While power 700 az"
July restricted may cereal the O0"e"''"'
also recommended that authority be given to sell
Of mar an omonnt not exceeding $4O0 900 of bonds
.. the and descrp Ion OF the per cent bonus
of the United States outstanding bni bearing rae
OF interest exceeding $4,000 per cent per ahnnn anu
redcemaOe at the pleasure OF the United oales arf
fifteen years, The proceeds to be applied 10 ne ply
OF bonds redeemabe or before july l, 1851 Iho1sn
the amount Of the two securities m
excceds the OF bonds 10 be redeemed no more
can be sold than bonds to be redeemed, while Tue
io r ,he sSenriiies most favorable TO the Government
| VITA TIE authority thus recommended It Is believed
aud per houds now outstanding and thus reunee
the interest OF the pubic debt SlZo0OoOo Iel ahhu
and leave debt IN form most IaVofaoe l'I Grs,ua
payment by the application OF The sinking iunu "i'no"
| cost or premium.
Nothing has occurred sincc ny annual report to
disturb OF embarrass the maintenance OF specie
paymens United States notes readily taken at par
with ali parts Of tins country and in the en-
commercial marts Of TIE world The balance ~ com III
the Treasury available for Tier re t1on on iS ~
day of November last was Sal oOl0l3 o. ale tne
averag during the has not materially Nacicd rom
that sum. Tac ony noticeable change III nc reserve IS
the gradual Increase silver coin caused by he com;
age of tie silver doll Ar anu the redemption OF fractional
! silver coin. more tally STATED nereina,t T.
| vear plIor to Novemptr l. 1850, was $71G65S. Tue
amount Of coin or hon depos'ted n tAe Ie4surS,
ASSAY OH aud ne minis GnrhS t.e SINE petl u Wa
ST. 3J6.53j g. These deposits nave usually Deei Pdu
Tor IN CON- tnr the Clearing House, bu' AT times,
the currency IN The Treasury w,uid aoW .9u ~
the request depOstors tneY nave been pald oi ~
United siaes noes and silver certtcates Cold corn
now enters largely INTO trl circulation vi 'i' reNe
nuo from Customs c0lecte ~ Ne"1oik 10. Que yer
| ,-nd coin OOI25 per ccut silver com, .3loeI
m silver certificates and .11,3l3 per cen! III Gni'cd
IN ,c between coin a1i notes IN business ifnsac' lo's
marked preie'eAce Is own or NO., 0Ntms ~ i INV
suprrlur convenience IN counting ana carving. Many
of luc current payments from the lrau are hect'-
eay made in COIN and nu,h OF the uud. held i0r the
rcd.ini4l0n o. National bank notes ana o. Hrtes OF
banks that have failed Oh suspended san com me tol
COIN in the Treasury. al the close o. business NgVe oe'
! was sol 7IOII 81 # wBlch Sl4l,J51Ol3 81 c0nsii-
tn,ed ne reserve fund for the redemption oi United
states notes. above stated ., ,,
All he requirements OF tbe sumpon Act nave ihns
| FIR ieen executed, aud lis wisdom h's peer Iui,y
demonstrated II ohy remains 10 u qiii'E W.. nv s
further Iii assures necessary or & toleH' 10 secure
! Inc m1nt nance OF resumption. IN Seer airy *
presses TIE utmost coma me- mat ",Dou u.W sis
| iqn the tEute amount uf U.iic1 states h"tc' 10"
ntIn com even II tAc present favorable ba"nca cond
iiJu snouiu clauEt; bu IN order 20 accomplish IL
Tue coin reserve mast Oc te uli1 i..ieu cX M ~
s payments as mas bc 1,d' from j, IN re lrAp l0i oI
nocs. Nots redeemed shoai be teIperariy heid III
lie cal iOr c.n gTratt IA alOnt IMAM the com com
jrgIn du c9ur.c ll.,o Treasury te inln's- Oid
nanny t.c superior convenience q! notes "ii' Il. q"
pres MT make greater demand Tor 'hrt thi" n. CON
bu m cis. OF AZ d1v,rst balance o. trade or su drn
r.pic or Other unfOrose circumstances, the ample re-
serve Of coin uaud becomes inc sure si rtuiri o.
rc-uupton oispci!ihg nor Only imatlh1I, lt@s "IV
ne ana. aY,d ana Tor coin tia is liHely u liSc' IL
n su rme emei geucy. the pow granted 10 sen pOhus
NH sln-,y any pOss h.e q tic .encY.
Il IS Suggested ina Congress might define and Sc.
apart tAe coin reserve rpe'aI Uho LOT ~
~ sr, fund bnt. thi- balance may, 10 TIC dscie-
ion Of tne Secretary Of the Treasury bee unduy drawn
upon Tor tie purch's Of yiheu. VI p''u9' . ,,
arpaar advisable tAaU Congress prcscrD' the h"Ahdm
q LED states notes ar now, in form, security and
convenience, the best crcnItng mcli1m kuo" VA me
onec ion rs made teF are ISSUED ~ Tue GOVERN
~ a. 'r v Int oniy 10 coin money Tho a.
- s deb. The UUljci states note, u me * en-
Ibat II is willingly iu by p.ople ana can beyond
question. be maintained al par III com IS tic is, Dur
dersouc o. dent. inc loss 81 interest Ill Hialn
tanning the resumption fuad, ana the cot W printing
! and engraving the present IN uat Of Uhlte" Sttes
notes, D. loss than onelii Inc interest on an rqul suu
81 600 600 of annual interest and secures sale am
tonN TcDrrye ~ c' viii nc retained III the
Treasury beyond the temptation OF o!Mhuloh' sucA h'
Another OBJ cIou u the issue Of Unei States notes
thai thoy are made le@-enaer IN ne pay IN Ut o.
cress 90 ne ke hcm such for anOHcG hincI OF
lie yeraInent Tne secIe ar, OF The Treasury Is ,il
Of t4c opinion th ills quaiy OF sender does not
add 10 tie usefulness, saly, o. circulation OF .lrl
sfates notes 80 far rs exces dIstruS and opposition
10 this form o. cuCu atrlnOtcs u Is detrlm,ni 1he
fear that Withdrawal % ms attribute MI cohsrao'
the currency de u>lv aS was he feaf thal lump
ton would have Ike fleet. Tie notes WOuId ~ih D.
received and paid out ~ ne Government aha .lhe 4nk
notes. would not DC refused lh pa ueh I"l "vut VIZ"
tcv were redeem. bic and pr, mpty redeemed iu com
on presentation AS tAe quality o. iesa lender Was A.
t@c,ed ~ these notes %. II issued. and then
essential TIER value circulation the pun ~ Hlid
SHINY 1ngnt impair the va,ue. hut It is their rcdrmp-
non IN That makes tGem now equal 10 CON aMd n
Ia is i'aimniaed beconlcr conIarauyey lninia-
feria VIE her icy are lcga-endcr or not, and by
| lac acton OF Congress courts th ar deprived
~ tins quality tAey will si be tie idvorie mOLe OF
Go ht1 objection 70 Uuited States notes That Tho
amount OF the Issue may be enlarged BY Consres~ anu
tE1t this pONc IL aDe 10 ADnS. ms OBJ c1'gI i'S
be- made to "A great essential powers 81 Tue Govern
In n. suGi answers ihat. since telr hs issue,
they have been careiub A'lltl III amount "u ID
| with eve qualify improve tber value ahd ciicud-
ton Every effort to increase he ahi9uh', maue uui
rcriod Of great depression aiird. Now that they are
leocemabe IN cOlu mere - no temptation i"r over ISSUE
careful consideration OF Congress, and any practcu Di-
Gcutios maintaining assumption Will be met 10y W
cgsatiO But me cialy ventures 10 express inc
opinion that the present system Oh currency thr sG9 u,
tial features winch limited amount oi Cnited
STATES notes TWIN without tie egaitcndeT qHait)
} promptly red ENABLE III coin. Win mpe reserves ~
com and amle power II necessary purchase with
bonds supplemented by the circulating tote. ct National
banks upon conditions mat gnarehiec lheir all
unity aud prompt reeompilon ana all based on
country, the st system ever Hevised ana more free
standard with convenience for circulation and security
, and equality OF value
COISs AND COINAGE
The coinage execu cd at the minis during the fiscal
wear has exceeded IN yaue OF any previous year
since The organization OF the Government It's total
amount not including The minor coinage. was
Ss4 IOO172 80. of which II j. estimated S62 100000
was ,rObaDiy domestic AID S2l 600 from iin
: | ported bullion
The anpual report OF the Director Of the Mint FUR
nisnes detailed OF coinage Of gold and
SILVER, amount deposited, parted refined OF made
into bars the earnings receipts. and expenditures ana
other transactions and business operations OF the Is
and ASSAY offices during the aGd contains valuable
siastIcs ana estimates OF the production, oUn-
sumption. and circulation OF the precious metals Ia the
! | United States and many other countries.
inquiries the PrOducuOn, IN arts, coinage
circulation Of the Precious metals, and the cOlec
ton OF other monetary statistics IN our own and foreign
coantrlc, continued by the Mint Bureau aud
valuable information on these sui9ecls mas Dee
will be found IN the report OF the Director
+ The deposits Of gOid durng he last fiscal year
amounted sos, $50 O96 So being S5G3SOJ4O % III
OF that e previous year. not ihsi'hoihg
probable slightly dnnnisDei C0Mestc PRODUCTION on
total import at tue port New-f0rE OF $6Oy4T674
LalLlIn