The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1883-04-05

lurhing iheif saaeaslos 10 she federal ireks
rry. hoping ter tiisi from shs, quarter
Bet The dspsftnent lsu concluded thai
,Ls ouly assistance Il can give must bc
caraned 10 aniieipsiion q the interest due
90 ihs Gsis0ssl dsbi 90 She hrl ~
April. Iasmrnt al which began one
wek 10 sasssce Of maturity. This
vili uoi rsali IN plsihors o. available
insd', especially =. The receipts " gold
iron shfoal hass iallnn somewhat short
Of erlssxssison. 10 the sauecred ones arc
iEa slgiEg in their nsasl enosl sssiasi the
secretary ~ the trossnv, ~ho somehow
Seefn. 10 lie Considered nnder some sort 81
Obligation 10 Gene 10 The rescue OF the
naiku Whenever The stock gamblers act
beyond their depth. II 10 Sliced invsria'
big. on sseh occasions. ihsi ibe ca h tai.
snce IL the Treasury is slioge,hcr too
large Rni pec,is depletion.
Against something more than s5i6. 600,
Wp - iegsl ,-ases asles, HERE ia bella by
,hr government about $40. 0o0. 600 IN gold
aLirh docs not .. ars, glance serm ~ be
sn excessive smoapi But II is argued
that As some sac. 000. 900 Of the notes are
heId 10y the treasury itself they ought 10
b. dciaeied from the $40, oo0. 600 ,ecbni-
e4iiy regarded as outstanding. A further
assumption y ,hs, probably s65. 900, 900
Of the h.esl ,'aid.i notes issued have l~,en
irievoeslls h.., 90 DESTROYED aud will ilev-
o. be pr4tpi.ai fo' redemption. These
tso r,ns sonll loot up Sl05. 600 600.
olnr'snins ~blcii 10 responsibility should
be felt by tlis treasury Department. thus
leaving tue sum against which specie need
be kep, In lapd only SAL 600, 600 A re.
serve u fort, per cent sgpinst this would
b. less than S97 0O0. 900, anl it is arsned
that the treasury might spare some si3,-
900 900 in gold from It's present board.
Again, IL u insisted that the secretary is
not bound 10 keep all the redemption re-.
serve in gold. but las riybt 10 iuclude
Ia il an indefinite quantity Of silver. "a,
one half This would release over sis,-
900 600 more gold
All tits has a plausible appearance, and
probably the government wonld run no
serious ri.k Of default in releemipg ITS
notes 10y neceding TO the demands OF the
spectators But il should be remen.
bered that secretary 4 the treasury must
necessarily lie anxious not TO put himself
10 position which might In any conceiys
Bile contingency expose him to charge OF
imprudrDce as custodian Of the national
honor He naturally desires not only TO
be safe bat to feel safe Ana, keeping
within the limits Of the law, he 10 GOT re.
CURED TO NEEDLE with the money market
at all. especially when, ~ now. there is
no immediate prospect Of commercial
panic His business is, first Of all, TO be
assured that the official trust reposed in
him is not endangered, even through sus-
picion. He Is In manner forced to be
cautious and conservative.
As to mingling silver with the redemp.
lion reserve, it would certainly be very
nnwise experiment, and those who now
suggest II would be smoDg the first to
condemn such a step under ordinary cir
cumstances. The tendency would be to
augment the uneasiness now existing in
OF silver accumulation and
u some degree to discredit the circulating
notes Of the government. Already cry
II alarm comes up from Texas, where IL 10
,aid glut OF silver prevails to such an ex.
tent that tue banks are discriminating
against 1t by adding discount to exchange
'ates on collections made in that metal,
md deducting the same from such remit.
ances. Trouble from the silver dollar
coinage will come soon enough without
il through an introduction OF
hat element into the basis OF note circula.
ion Troy Times.