, 1881-11-05
POPULARITY OF SILVER,

the holders Of silver bullion were authorized
to deposit II in tic Treasury niu take out
certificates. rl,c same privilege docs mot ex-
ist with regard to gul. Int It was ultl-
uately decided that MI persons receiving
money from the Treasury, w,,etl,c; silver or
gold, could rcdcposlt II iii tic Treasury mil
receive tllorefor silver certificates. This
transferred III amount OF silver dollars iii
tho Treasury fro III the credit uf the Govern
ncnt to tho credit Of tho |.oers of the silver
certificates, practically putting Tint amount
Of silver otlurs Into circulation, the Govern
lin r.,Ion,,ti,,,, n tt,o ccrf;iIrntrs
,rI,,, rau,lt or mic ,o,tcv IA tint ,nstead of
Tin silvrr ,lo,I,rs t,,n nrn,crtv NJ tte 1In,lct
stotra rc,uo1r,ng in lin 'rrro.urv. whtc,,
roct ,yoa n,,,oya r,f,rrrL IN hv lain Srcr.
,,o,, =. -, o,.,'1o,oo ttot Tim e,,vnr ,,n,,,ra
,uoro n ,,so1,aa nn,1 s,n.n,nsa cn;o which thu
,,a,,l, ,,,,,,,,1 rovor tnncn n ,,ow anncnrs
hat of nil I'm .fivor ,1o,or. cn,u,1 s1,,rc ts7s
tharo oro ,,,,v ontv n1s nm IN tho ttrrnanrv
lylny i.l1e. ,rla mint Inns cotnrH over stOO.-
ma, ,ooo In silver ,!nilnrs. Or ills anu sc.t-
W. I'm nrc rnn,r.nutr,] hv outstnutliuu Treas.
urv ccrtIt,cntcs whtrI, circu1ntc M nancy.
a1sftn oliver 1ol1nrs. tim nroucr,v OF tha
1jnttcd Stntes, nrc In thu Treasury: and tho
rou,oir,,nr so,nn IN m nm co,n tio,lnrs. nre
| In Tho l,o,,da nr tl,e reo,,,c.
Far n ,nny lima tia ,,racttca Inns hcen- to
ttcnostt Do]I co5n III tl,e Treasury and take
tharcfnr si,ycr ccrtttlcn,es. and II, this way
Mi tho s;lyrr tot1nr. cn;nc,i by thu mint hnyo
bpc,, cxfausted. ,rI,e cotnora of silver dol
lnra ,,oe hrcn Mt t,,e oycrarn of a.cpo. .0o0 n
| wontl,: ond thu wl,o,o u,uount cn,nrd has
i,om, ,nt ,nto c,rc,1nt,r, ctthcr IN tbe form
of eIiycr min or In lint of cert.I;cntes. antl
In. lcu,, otl.Ic1 IN thu currency of tt,e co,,r-
tr,.
| tfho Treasury las now been compelled to
suspertt tile regulation By which silver certstl-
cales have becl Issued III cxcangs for de-
posit Ut gold coin; tle Treasury las no sill
ycr dollars agn!,1s. which to issue certificates,
the dcposlt Of gold a,ut silver COLI being III
excess Of tho amount Of silver dollars pro-
| sI,ced by tho mint. Hereafter, tho issue ut
silver certificates must be limited to the
amount oil silver dollars deposited with tho
Treasury,
Last sprIng Mr.. k,,oy, the Controller Of
tho Currency, commented witt, much force
upon tho "barbariuu ~ practice of unytng
! ant receiving gold tlaily By weight, tl,stcad
of pcr,nittIue 1t to remain III The Treasury
aul have It transfcrrc, 10 and fro by checks
or by certificates. Now, when the banks
wish to draw gold ro!n from the S,,t>!rrcas-
i,ry 1t has tu bu weighed out III pnrccts Weigh
ing n half toll, II ton, or oven ~ high rs
eight tons, and carried through the streeta;
a1iu on the same day ottlcr parcels OF thu
sa,l,u Weights are cartc, through tho streuts
lnck to thu S,l,-rrcas,Iry. Thu usu Of tho
term "barbarian' IN refcrcncv 10 t!,Es prAc-
tlco Is not too strong, particularly when tho
transfers OF money through tho hunks OF
New York City by check excucit St00, 0,o00, ,0tU
day, OF wllc! not Moro thun per cent Ii
in actual cash.
Vhc rvasuns governing tl,u action of the
Treasury Department are not always under
slootl. Why tho goEu held IN the balil.s a,,tl
In yurlous institutions, rs we'll rs by in.li.
yiduals, may not be deposited with thu rrcus.
ury o1M certificates fss,le,t therefor Is not
understood, ,yo huye never met With any
cxp1anattou, 1t will I,p seen tint tho grcal
!
F.~ 49,