The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-03-10
DEPARTMENT. DUTIEs
The National Banks
and Their Retired
Circulation.
Blaine's Note Relating to the
Recent Pork Scare.


close of business at the Treasury Depart
J ment to day, Secretary Window had moi
rendered q decision upon the pending
request of national banks that they be
allowed to redeposit United States bonds
in the Treasury aud withdraw the lega
tenders recently deposited, for the purpose
J of retiring circulation. Secretary Win
dom e conversation on the subject to-day
referred to the question as one of vita
importance. and said he was most desirous
of having it determined at the earliest
possible moment. but owing to the great
pressure Of business had not been able to
decide it. Inquiries made of officers of the
i, Treasury as to the authority upon which
the present regulations OF the department
rest, elected many varying opinions, The
Comptroller Of the Currency stated that
the question had never before been before
the department for decision, and that in
no case where bonds had been deposited
to retire circulasion had legal tenders been
surrendered, Other very prominent oR-
GERS expressed the opinion that during ex.
Secretary Bristow's administration the
Iquestion was orally decided against per-
mitting The surrender of lawful money
deposited.
The officers referred to, maintain that
thsre is nothing in the law which author
ICES such surrender and that the statutes
/ expressly. provide for a mode of pro
cedure. which has invarIable been
followed by the department namely. that
the deposit of lawful money once made TO
retire circulation cannot he surrendered,
but must be beld until expended in the
redemption Of the circulating notes of the
bank making the deposit originally. It
is stated that national bank was not
lpermitted to take out new circulation until
its deposit of lawful money forth redemp-
!, tion of its circu atiDg notes had been en-
tirely exhausted Legal tender notes
! deposited to retire the circulation OF
national banks are not laid aside In the
vault of the iUnited States Treasury. but
enter into it's cash credit, being given On
the books to the account for the redemp.
|, ton of the notes of banks depositinS and
the notes redeemed being paid from the
cash and charged account. In fact the
account is treated just as a disbursinn
officers account is treated, or as bank
treats a depositors account. The lega
tenders so deposited are not included in
the treasurer's balance, as showed by the
public debt statement, that statement in
cluding suoh moneys only as are subject
toIdrstt in payment of demapds against the
government.
The total amount of legal tender notes
deposited during the pending funding
bill was SIS. .764 .434, of which $l.286 500
has been returned to the banks in lega
tender notes under the decision of the
United States Treasurer. leaving the re
mainder on deposit This sum belongs to
l3S national banks. seventeen of which
have or had in the Office of the Comptrol
J ler of the currency circulating notes
amounting to $717.7 .780. and 121 OF which
have on deposit $3,776 27O, SO that $4,-
494 ,050 of the circulating bonds of national
, banks could be Immediately forwarded tc
} those banks which have recently deposited
t lawful money in the Treasury to redeem
, their circulation, The remainder, about
D $12, 900, 900, Controller Knox says could
t be sent in about 80 days.
D When asked what effect a decision in
? favor of the withdrawal of legal tenders
) would have on the Treasury. United
> States Treasurer GiiIlan said: Ii the
| decision should be of a general character
character, that is. not cen6ned to deposits
made during the pending bill, it would
affect about $50. 900. 600 now Oh deposit IL
the Treasury Department for the reduc-
! lion Of circulation.
| BLAINE LETTER.
Secretary Blaine to day addressed {
note to the British legation Oh the subjec
ish consul at Philadelphia iu regard to tn,
I prevalence of disease among swine of tn,
western states. The Secretary reiterate
the statements made ia Everts' note O
March 7; that all means OF information a
: the resourse ofsthe department concur il
:. showing that the published report i
wholly without foundation, and send
copies of the resolutions oflthe Merchant
Exchange, St Louis. and Chamber o
J. Commerce, Cincinnati, explicitly denyin,
/. the reports OF disease among the swine
d and showing that the condition Of tn
# stock in Ohio and Illinois are exceptionally
% healthy. The statement of MIR. Crump il
q regard to the prevalence Of the disease il
d Ohio is fully and emphaticaily denied
|, The Secretary of State sent also th
q substance OF q communication receiy
= ed from the Secretary of th
d Treasury conveying an explicit dcpia
n of the refort published IN England, anc
"a asking that the character and source o
,r the Information on which Crump's des
:, patch was based to be ascertained. I,
!. answer to the British Minister'S statemep
that the Consul at Philadelphia made hi
,e report upon what appeared to be goe,
authority the Secretary of State says tha
all this government can learn, afte
searching Inquiries. leads irresistibly t.
= the CONCLUSION that the goo0 falth of be
majesty's represent alive at Philadelphi:
|. has been imposed upon by deseuin,
at spectators to their own selfish INTEREST,"
and the incalcuable injury of legitimat.
:. com merce. The Secretary further ex
ot presses his trust that the British Ministe
u will concur with him in the opinion tha
- no steps eau be too urgent or imperativ,
~ to eyertake and contradict this false state
~ ment, aGd contradict this false statement
and that this government confidently look
to her maiesty's legation for an authorIta
10 tive denial.
~ INDIAN CONFERENCE.
to Agent Berry and three Uncompahgr,
T. Ute chiefs held conference to-day will
t. Secretary Kirkwood at the Interio
D. Departmental relation to the selection O
g. lands under the new treaty for theU ncom
pahgre Utes The Indians expressed .
desire to have lands apportioned then
+ adapted to grasoe and agricultural pur
=. poses, aud claim.d that along Grand river
:, where. under the new treaty, they are II
~ =, be located. there not sufficient land o
:. this character. After the indians ha,
= made kuoYn their wants the conference
- .j;orrrod rsnf,l snm0rrow when IL /