New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-07

Gates in use in larger than ever before, and there
is no definite indication of a disposition to re-
strict their use. But a popular feeling, such
rs now exists with regard tn the trade dollar,
might at any time cause an important reduction
in the amount OF these certificates or of stand
ard dollars IN use, aud they can be really re-
deemed only by payments instead Of gold at the
custom bouses
The gold belonging to the Treasury amounts
to $13S, 1877 6S, and the increase during
the month has been $4, 553,094. This has been
largely due to the delay in payments of pen
sions, which amounted in June to only
81, 100000. One year ago the gold owned by
the Treasury amounted to $143, 477,369 50, so
that the actually available fund for redemption
of notes and payment of debts has decreased
about $5,2OO,000 during the year. Nearly
S55, 900, 900 OF gold certificates have been put
into circulation during the year, against which
the Treasury holds gold in trust. The amount
of United States notes ON hand is also about
81, 800, 900 larger than it was year ago. In
effect, the Treasury has paid out during the
year over $4,000 of its gold in redecming
notes and in buying silver, besides putting out
$1S,00O 900 of promises to pay which are
receivable instead Of gold at the custom
houses.
The nominal reduction Of debt less cash in
the Treasury was S,09S, POI 43 during the
month of June, and $137, 1923, 253 "a during
the fiscal year. But this reduction was evident
ly swelled by the non-payment of money appro-
priated for pensions, which still stands to that
account and must presently he disbursed. The
actual payment during the fiscal year on ac-
count of pensions was only 500, ,O34, while
the appropriation was $50, 900. The re-
ceipts from customs were very large in June,
morcover-about $50, SOC, 900. But for these
circumstances tho reduction of debt would have
fallen below the 800, 900 estimated by
Secretary Folger. 1t is evident that the reve-
nue. from customs will be large this month
also, but there will be material decrease In
the internal revenue at once, and after this
month probably decrease in customs receipts.
IL Secretary Folger adheres to the view OF his
duties which he has hitherto taken, there may
we'll he call for bonds without delay. The
revenue in July will largely exceed expendi-
lures, and, if the Secretary is not called upon
to take any precautions on account OF the
steady change in the character OF the reserve
held nor to hold back funds to pay pensions
for which the money has been appropriated, the
surplus can be applied to redemption of bonds.
But it may perhaps be known at the Treasury, az
it is not elsewhere, how fast the deferred pay
ments of pensions can be made. Ii the Bureau
is ready to pay, and the money has been re-
tanned only on account of temporary reasons in
the Treasury Department. there may be no
surplus at present with which to redeem bonds.
Nor is it wise continually to ignore the fact chat
the silver held by the Treasury is practically
useless. The gold reserve has been diminished
during the past year, and would have been cut
down much more had payment been made of the
full amount appropriated for pensions. 1t is
certainly undesirable to permit the gold reserve
TO be much further depleted, until it is certain
that the coinage of silver will be stopped.