The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-04-28
FINANCE AND COTTON
FINANCIAL.

FINANCIAL,
M the slG575,C %, past due debt of the
r.,,sd States upon which interest has long
s.a.ed, aud which bad been presented for
evasment down to the April schedule, less
ssn ope.hall the amount or Si,el9,d0,
consists OF tins 81 per cent. bonds called IN
nv Secretary Folger since list September.
M t,,ther sum of S3,9i35)0 in bonds OF
lnV issues have been outstanding rom
vac five wears, and the remainder, 81, =
w UhS IN mari old intert bearing treasury
o,ss war issues, from five TO ten years
nv aver. The loss of the treasury notes
s,r;n, and soon after the war is not sur
osi.ir, hut that such large sums of over
inscslled bonds should have been private
irboarded so many years after the interest
IA ceased is not little remarkable. IL is
n"ssible that many of these bonds have
an lost or misplaced or accidentally de-
s,,oved and may never be presented. Ii
= now well ascertained that, of the
s.octional currency used during the war
anG until subsidiary silver was substituted
a iS,6. nearly 81 ZOO GOO year, o
si5OOO 600 out of 100000 printed
and circulated has been lost or
Jss,royed. Over IS, 0O0, 000has been marked
ofthe treasury books by authority of con-
orsss aud 100000 more had as well lol-
ioy. since the notes have ceased TO be pre-
sen,ed. II is estimated that about S26 co.,
an greenback notes have been lost or
DESTROYED in the twenty-one years since
tbey were first issued; but the truth about
ali such estimates will never be known i'll
onr dav. as greenback legal tender has be-
come part aud parcel of our financial sys-
fem In like doubt IS the loss of notes of
Inc national banks in the twenty years OF
tberexistenCe. Whatever 1t is, the profit
iuures under the law to the treasury, and
not to the banks of circulation.
Or Saturday last the ma tional treasury
held SlSj SIS no in gold coin ard bullion,
against $751; 1852, ia on the "a OF April; but,
while there was gain of over million, as
these figures show, in the aggregate amount
Oigod in the treasury during the two
weeks there was loss of more than two
millions in the gold owned by the treasury,
the gold certificates outstanding having in
creased during the two weeks from 543 AL,
SO to $i6, $50 6l0. During the
two weeks the silver dollars
and bullion in the treasury increased
from Sl07 i35 ~ to $l0S 900 967. During
the same time the silver certificates out
standing increased from $50 759 ,09l to
S7l,l00 l0l. The increase in dollars and
silver bullion owned was, therefore, from
SSG,G65 ISL to $50 800 776, or less than $780,
00 1t would appear, therefore, not far
from $500 600 was added to the circulation
by the coinUge o. silver dollars during the
two weeks, rhe amount OF fractional silver
coin held on Saturday was S27 962 ,9Sl,
which was about 100000 more than was
held at the beginning of the month. IL is
o matter OF some surprise that the
amount OF this coin in the treasury mas I'M
dersone no mattria! change since the mutt
lated coins ceased to circulate. There must
have been very meny such coins ailoat,
and one would suppose the sudden rejection
ofthem would have caused scarcity and u
consequent demand upon the accumulated
stock in the treasury. 1t does not appear
however, that any such demand has arisen,
lisa rather natural Inference, therefore,
that great numbers of the coins have been
50 neatly plugged as to circulate without de-
lection, On the whole, it does not appear
that the circulation has been greatly in
creased by contributions from the treasury
slice the beginning otthe month.
A WASHINGTON special dispatch to
the Boston Herald says: The law
providing for the rebate to banks and
others holding checks on which is
printed the two-cent stamp, is calcu-
lated to work serious inconvenience,
both to the treasury department and to
holders. Although sufficient notice has
been given by the early passage of the act
OF the abolition of the stamp, to enable the
banks to work off their surplus checks to
large extent still, there being some 500
OF these institutions in the country, they
VIII hold III the aggregate a good many
Stamped checks on July L. The adjustment
Vi me rebate will involve, therefore the
sending to the department OF a vast amount
Oh various descriptions of bank checks, |
winch each bank will want returned for use
IN some form or other. There has been
SOME talk at the department of not return |
Ine the checks at all, out simply de- |
ssuoyins Them. II is not believed, however, |
.aat the banks would consent to loss OF |
.uelr check books, which they had sent in |
W secure the rebate for the two-cent stamp |
printed upon each check. Again, if they |
are 70 be returned, they must be cancelled |
III some way, IN order to prevent their be- |
W. hg sent back again tor another rebate upon !
,ne same material, which would be possible !
provided there wasa disposition to commit
uauu upon the government. The process
, nh,vn VIII probably be resorted to will be
~ puhch hole clear through the check
uooNs' thereby cancelling the stamp and
p'.c uulngany fraud through duplicate pay
, .n The books thus punched would be
-''u'neu 10 the owners and could be used.