The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1882-11-09
Debt Payment.

The following interesting and instructive
statement of The debt payment of the United
States, is taken from the editorial columns Of
the New York Tribune of the 4th.
The debt statement for November fs one OF unu-
sual interest, because It shows for the frat time
the issue of gold certificates of the new series-
But this issue In NO way Affects the amount of the
debt less cash In the Treasury, which decreased
Sl6G19 1871 in the month Of October, and sdecreas
ed as during the four months the current
fiscal year. The average for tho four months is
therefore s1s, 10000 monthly, whereas the unpre-
cedented reduction during the last fiscal year was
at the rate Of tl2 600 monthly. Should tho de-
crease Of debt continue through the fiscal year g.
the rate thus far, It would exceed $751; Yet
the revenue in October was only $32 $780, aganst
ess,57A.2ls during tho same month last year. de-
crease Of o., ,o0o the decrease In customs was
only $2b4 900, in internal 81 900 0Oo
and in tho miscellaneous receipts g. 600 o0o.-
Probably the complete returns tor the month will
increase the receipts OF the latter lass The decline
In the receipts from internal revenue directly tho
result Of the attempt to get the whskey reduced
the last session Of Congress- and Of the later
CREATIONS OF the whiskey ring, which seems from
cent dispatches to have broken up in quarrel.
Tho apparent increase In Indebtedness during
the month Is due to the issue OF about t2 500 900
gold certificates, and about o. 900 addition
al silver certificates This increase OF silver Ger
tcates occurred during the nrst half Of the month
whom It was not yet possible TO obtain gold certn
Gates to the amount demanded. In the two weeks
900 issued at points in the interior on
accounted deposits made here. and $2,sAaOoo more
were issued directly to city banks. since October
IA, the receipts ct the Custom House here have
Ia aoH thA h,,tv,
yet, 1t seems, - much the issuesJ early In tho
month had increased 1t. A much larger amount OF
gold certificates would have been issued, had the
Treasury made an effort 10 accommodate the pub
lie in that particular BY regulations similar to
those made for the buyers Of silver certihcates.-
But the amount Of gold coin and bullion in the
Treasury has been swelled TO SEQ 900 by the
ceipts tn exchange for certificates issued, an in
crease OF 81 900 during the month This will
ate q mistaken Impression. II It is not carefully
kept In mind that gold ON hand must be held as
special fund.- according to Law. for the redemption
Of all certificates outstanding. After deducsing
$4,000 900 gold certificates on hand tho Treasury
appears have outstanding 500 900 more than It
had month ago, SO that the gold owned by the
Treasury has scarcely Increased at ALL Its indebt
which will now come In instead OF gold By the pay
AAoht VA uus&OHs - oVVus 8NOosoA sAou ~
was q month ago.
The coinage Of silver dollars, g, 100000 during
the MONTH, has nearly all been taken into c1rcula-
ton temporarily, the amount now held being $02,-
Ala s77 against ga $40 Octoberl. At thfs sea-
son. these coins md grester use than at any other
time, and yet the demand does not quite keep psce
with the COINAGE But Of more than $685. 900 COIN
cd thus far only about $36 600 in circulation,
about SA9 900 are lying idle ia the San Francis
CO Mint and Sub-Treasury, and cannot even be
brought East wtthous much ex pense, and the rest
are stored away, Q useless mass, in the Treasury
here and at the Minis.
The last Of the extended SIX per cents have dis
appeared from the statement OF interest bearing
debts the call for nearly O. 900 having mstured
in October. The extended I'VE per cents still draw
ing interest amount to $50 and the decrease
Of 81 .7Oa $50 during the month L. in part due to
redemption under shs December call, and In part
to exchange for threa per cents. OF the call for ~,
100000 probably about 3l7 900 still outstand
Ing and these deducted, with the el6, 009 cover
cd BY the January call, there remains only about
$123 900 of the extended fves to be called. II
debt reduction Is to continue at the rate Of
900 per month, the last OF the three and half per
cents will be called and calls for the three per
cents will be in order, about the close Of the pres
ent fiscal year. BUTT is to be hoped that the pres
emit Republican Congress will not neglect its oppor
tuntty to reduce taxation this winter.