, 1881-02-27

Special Dttpateh to tbs Chicago Tribune.
[ WASHINGTON, d. c., Feb. 2G.-The Treas
ury received notice to-day Of the with
drawal of some S2,000,O00 additional: Ac-
companying one Of the notices of withdrawal
was the following letter from the officers of
the National Albany Exchange Bank. which
is an illustration Of a great many letters that
are received:
NATIONAL ALBANY ExCHANGE BANK. y. T..
s Gs: Wo hase + todas 1S a0Is nado p1op
thss''S tire sso,oS OF circulating notes in order
OF the control Of our own aIairs. This action
is not taken in my hostility to tho 8 per cent
loan, # it can he Heated But We cho9se to 70 &C. Pc
vesting our money for ourselves. We cannot
quite yet yield to forced loan. SO long as there
1s wy out At the same ting. II The present m
shall decide to renew our circulation anu go on
as usual.
TIE PRESIDENT OF 4 BANE IN ST. LOUIS
who is one of the strongest Democrats in
Missouri, in an official communication. to the
Controller Of tho Currency under date Of
Feb. %, referring to the Funding bill, says:
It is NOT. properly spcuking, Funding bill.
National banks, and trust that they will not
submit to it.
A closer examination of the statute shows
that the erroneous public opinion prevails
that If the Refunding bill shall pass in the
form in which it now stands, it will be i'm
possible for the banks to withdraw their cir
culation except by collection of their own
notes. There still remains way to do this
through the medium Of voluntary liouida-
ton, by which the banks can compel the
Treasury to collect the notes Of the banks
upon the deposit Of legal-tenders.
UNDER THE CONDITIONS WHICH NIGHT EX-
1ST
after the passage of the Funding bill there
would not necessarily any stigma attach TO
such voluntary liquidation, and the banks
could reorganize i'll foEty-eight hours under
whose charters are about to expire might
choose to take advantage Of the voluntary
liquidation provision to renew their charters,
and would use their ! and ~ per cent bonds
as new deposit under their new orgahlza-
ton. Some Of the banks have so rnlscon-
strued the law that they are. retiring their
and ~ per cents, although the Funding
bill does not III any way apply to that class
Of bonds,
SECRETARY SHERMAN.
To the l-tstera Associated Press.
WASHINGTON, u. c., Feb. 25.-Secretary
Sherman, in conversation regarding the
ful&er e2 hs hsoaf3n eona io Ss ~ss soden de
purtunlty they have missed i'll Congress-, lie
said, "by not passing d 3l5 per cent Funding
BILL The whole business could have been
finished up in sixty days. but now I don't
know how it is coming out. There is going
to be a good deal Of difficulty, I fear."o AS
sistant- Secretary Upton talked very freely;
from people cryins, out for aid. but there
was nothing more to be done. The
whole difficulty in Wall street was not a lack
of money, but ia feeling Of uncertainty and
decline was about at an end for the time
being. The banks had furnished good rea-
SON for the passage Of a bill taking. away
some OF their rights. They had acted very
foolishly indeed.
DEPOSITS OF NATIONAL BANKS
received at the Treasury Department to-day
for the retirement Of circulation were So, $685.
TO; total to date, S13. .s02,9
TIE REVERE NATIONAL BANK OF BOSTON
to-day gave notice that it had deposited $780,