New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-05-11

of the latest applications arc from banks. ana
therefore for an amount larger than is usually
held by private investors, the prospect Is that
the amount finally brought within the terms OF
the call will be larger than present reports indi-
cate. The foreign holders are yet to bc
heard from. aud, moreover, it is announced
in Washington dispatches that Secretary
Window has extended the time for appli-
cations being satisfied that the public in
tcrests can be served thereby. Certainly no
private interest can be injuriously affected by
such change. Those who have secured an ex-
tension Of their loans at 3I2 PEI cent have done
"a in the belief that nearly the whole of the ont
standing skies would be Thus extended, and II
can do no harm to them 10 have the amount oi
three and a half per cents slightly increased.
The Government can only gain 10y am extension
Of time. it, as is probable many holders OF the
six Der cents have failed 10 forward their re-
Quests for continuance only because of dcfcc-
tive or tardy information.
Whether this be so or not, II Is now GER
tain that nearly the whole of the six per
cent debt has been extended at the request ot
boIders to bear 3l2 per cent interest during the
pleasure of the Government In many rc~rcci>
This is the most remarkable and crcdiiahe
financial achievement ON record. Marvellous 49,
the financial triumphs of the United States Gov
eminent have been in the opinion of ;hc most
compctent Observers abroad this latest success
ranks above al others. It is well for those who
have been carping nj Secretary Window plan
to consider that he has saved the country.
within the past thirty days, and 10y mere OK
ercise of common sense, about $loOO,OOO
wear in interest besides retaining power to
effect similar reduction i'm the interest ON
large proportion Of the five per cent bonds.
The Administration of President Garfield.
though only two month, i'm power, has entitled
itself to public gratitude in two RESPECTS, in its
management of the finances and in It's exposure
and reform of postal frauds and Senators who
mediate a controversy with the Administration
NAV rs well have that fact in mind. What SIM
liar proofs have they given of zeal for the pub
lie good
It is already certain Tint large part of the
surplus revenue for the current year viii remain
uncrpendcd. after All the called hondo that may
be presented for redemption shall have been
maid. The Treasury stll has go command the
remainder of the surplus revenue and a- much
IA 500. OOO. 900 which may bo obtained JOS Che
sale of four per cent bonds. The probability Is
that these resources viii bee Immediately en-
ployed to reduce the interest on the five per
cents. Pcrhap, it will be deemed wise 10 call
in AT first only part of the five per cents out
standing. allowing for these. as for The -iN per
cents. month or more daring which requests
for continuance may he received. There are
many reasons for believing that the notice viii
meet with 4 more general and prompt response
los the holders of the five per CENTS. TRAN Do ims
met from the holder of -N pcr cents, and Che
Treasury can undoubtedly achieve another
triumph as valuable 20 the people 49, ,bc one
which j. to-day recorded.