New-York tribune., 1881-03-25
TREAsURY PLANS AND RUMORs.

decision Will DO the reSult OF careiu anu inaluio
deliberation.
TREASURY PLANS AND RUMORs.
4 PLAN FOR PURCHASING ONE HUNDRED AND
FrrrY MILLIONS or SIX PER CENT BoNDs-How
LARGE PART on THE ACQUIRED MONEY MAY
BE TAKEN FROM THE TREASURY REVENUE.
IBr TELseRArH TO TIE rRnvSE.i
: WAsHINGroN March 4.-There has been great
Zeal of speculation as to what course the Secretary
of the Treasury win take to provide for the pay
ment of bonds which become redeemabe In May
and July In case an extra session of Congress s not
called for the purpose of passing o Funding bill.
Upon this subject the officers Of the Treasury De-
partment, and the Senators who would be most
likely TO be consulted, have been extremely ret
icent aud no statement regarding the various
plans considered has been authorized.
Within the past twenty-four hours however.
rumor has been in circulation to the effect that the
Secretary of the Treasury has. among other prof.
cots, considered the plan of using money in the
Treasury to buy, before the 1st OF ncxt December.
$3.50 OOO, 600 of six per cent bonds 1t has also
been asserted that this plan embraces the idea that
It win be practicable to avoid the necessity of issu
ing the 104 600 900 of four per cent bonds There
Il some reason to believe that O project like that
above outlined has been taken into consideration,
bat nothing Is known regarding the probability that
1t will be adopted.
In the " Statement of Liabilities and Assets of
the Treasury" Issued the LIST instant there were
embraced certain items not belonging to the Treas
urer's general account. and amounting on that day
10 about Ss3 O0O. .O0O This amount was consider
ably larger than the usual liability on account Of
ths sssssl itsms bsosnse the fund for tho redemp7
non Of notes Of National banks "failed," "in
Gouidation and "reducipa circulation" Z" had been
suddsnly swolsd from about $40, 600 900 to nearly
b87 900 600 by the retirement of bank circulation
On account of the threat contained in the fifth sec
tion of the Funding bill. Among the other items
making up the $S3. .0O0. 900 mentioned were the
following: Post Office Department account.
S2zl4,927; disbursing offcerS balances,
S16986 1872; undistributed assets, failed National
banks. S476507; per cent fund redemption Ma
honal bank notes. $14,0sS, ,424; Treasurers trans
Ter checks and drafts outstanding. 1921, ,316. A
calf dozen smaller items were alBo included in the
bSS,O 600.
1t has always been the practice Of the Treasury to
keep on hand 100 per cent Of these liabilities ell OF
which are subject to payment on demand; but
there is no law requiring this to be done, and an
examination Of the monthly statements" shows
hat the balances on account OF the several items
which make mp this class of liabilities have
,ot fallen below, $85. 100000 at any time
during the last thirteen months. It Is
reported to have been suggested to the mind Of
II keeping in the Treasury constantly enough
money 70 pay all these liabilities but that reserve
If 40 per cent (the same amount hold against out
taudinR grecnbacks) would be sufficient to meet all
probable current demands upon the Treasury on
account of the liabilities mentioned. If this sug-
pestion should be adopted, and the monthly or
saily balance OF these various accounts be estl-
mated at e5.O00g000, the Secretary would be
able to obtain from this source $39.00O.000 with
which to buy per cents. Included In the Treasu-
ter,s general account items amounting to about
t12.00o,0O0 which also preserve nearly uniform
balance land against which it has also been the
practice Of the Treasury to hold reserve of 100
cent. II 40 per cent reserve should be considered
maacieus. to meet all probable current demands
anon this balsnce the Secretary might derive from
ths source IN additional sum Of 100000 with
which to purchase per cents iDis would MAKE
An ofcer OF the Treasury said to-day, In reply to
eaus.tion by . TRmUSE correspondent. that M &C q
20 December will amount to $s, 600 900 month, OF
k72,0 900 in the nine months. This sum. added
ofSi1S.OOO,OOO which would be available for the the
purchase Of bonds. This would leave $3Z:UOo,VOo
Of the $50 600 900 first mentioned unprovided for
Secrstary sherman always insisted very stronu-
ously that to maintain confidence IN resumption Q
equal 20 40 per cent 9f TIE o%sstand1ns bs
requires S13s, 400 600. The monthly balance for
.hs last shirteen months has always exceeded exceeded
p&4VyulB-VIB, HuO HAt bOHiottkaos OASess,Io
t1b0.000.000 On the LIST inst. 1t was little @
more than $i6S 900 600. or about Y2OOoOOOO
moro than the required a1pSst;un specie reserve aOG
could not bo depended upon greatly TO increase the
fana upon which the Secretary Of the Treasury
deed be should think 10 prudent 70 reduce that fund
lower than Mr.. Sherman ever deemed advisable. 1t
10 therefore difficult 10 where secretary Window
conld obtaiu without selling some of the four per
cents. money with which to buy $50, 600 600 OF
stx per cents between now and next December.
OBSTRUCTIVE POLICY OF THE MINORITY.
pKTEHMSED KYTEcr OBJ THE DEMOCRATS TO PRE-
VENT THE ELEcrIos OF SENATE oYFrcERs--
STRIKING SCENES AND pcHARAcrEsBrIcspE
fpT rzIEgRApH 10 rhs TRRUsEi
WksHfNoroN, March 24.-The Republicans to-
day attempted 70 proceed with the organization of
the eepatc by the election OF the ofeers and were
net BY the Democrats at every step with flibuster
duE motions. The result was that after four hours
ofdebate tho Senate adjourned. leaving the question
who're IL was ut the beginhing
The days debate seems to have deleyoped prettv
clearly least two facts rst that the Republicans
~ serepd that they win insst upon the organ,za-
m 81 the Senate accordance with the constitu-
ayas1 psjority; second. that the Democrats viii nm
e1bndlx sss.st this effort md TO that end viii re-
scrf . 4hhastszing exoedents for period not yet
possbe e nssns. bat which Que Of she most radical
=. ~ fkn{c