New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-10-21
, vopr navy TnrprNN TUESDAY October a isarEN PAGES

ssS q II N s, ssssp ss es ss
The lsiempilSn II sissy eefaesier, tbd bSfl q,
fof Tho feemrilon ~ called bonds naiWftd, asi pay
yS' q " IT. .a gs,' S1T n o. pot fS' v s d.
aslei I,oH The esh y 'ee isss's' "a shown "eeVe
March, iAao, sosmnIy pcdqsd tNs faith q he SseN
lniled states, nol hearing Interest, known ~ United
states notes" aud "lo make provision - ne earliest
notes IN coin" Ia keep The faith thus pledged
The act commonly known The Resumption Act, passed
Ia January 1874 authorized the Secretary Of Tho Treas
uy to sell bonds tn make prov sion for tho resumption OF
~ If nm oct n"sScd IN INV iss Known rs he "ranR
Charter Act provides that the secretary at the Treasury
amount at gold coin and gold bullion In the Treasury re
served for the redemon of United States notes ials
provided for coin reserve with which to begin redeem
Ing the grccnbacks on the first OF January, 1879, ana
tho 9TH section OF the act passed In July 1882, dis
nctly recognized the existence Of this reserve by re-
quiring that II should not be reduced below TlO0,'
100000. In preparing for resumption secretary shrr
sold bonds under the act Of 1879 and received there
for In gold. S9550O000. with some additions thereto
the coin reserve thus created has been steadily nam
tanned M about the figures. The legal tender note,
amount 10 -3l66ls 900, and it has been the policy Of
the parmcnt to maintain the coin reserve nearly To 10
per cent of this amount It's presence IN the Treasury
after redemption has kept them equal to gold In the
markets OF the world IL was universally Known maj
the ready to redeem them and no one cared to
present them for payment The most eeciuai mode 81
sustaining their credit and rendering theln III pupc est
nation Equivalent to COIN Is an ample R PRO
VialOn for redcrlning them rs fapluly rs th'y
are likely to be presented lAppauseI
A rLUCTUATING CURRENCY NOT WAIVED
Honest industrious, debt, paying persons do not favor
a currency Of huctuating aud uncertain value. APP
pallsc They wish that the United States notes and the
National Bank should be kept up coin standard
Il is worthy Of comment that many who clauOr-
oIs AGAINST ping this the redemption OF
United earnestly opposed the Issuing OF them
Unauthorized by the Constitution and that too, when
the life OF the Nation in imminent peril Bearing in
mind the various claims the funds I'm the Treasury,
what becomes Of the charge nadcby the Democratic can
dIac for Vice President and OthcrO imposing taxation
and the holding Of Sl0O.OOOODO or 5000
100000 The real reserve less than ono-thrd OF the
apparent balance on hand lave too much respect Tor
the intelligence Of Governor Hendricks to believe he docs
know that this apparent balance Is not available FOR
ing oil the public debt for general purposes The
leaders II the Democratic party. with some exceptions,
cd AGAINST the issue OF United states notes ana
when In the opinion OF Congress the necessities or the
required them 10 he issued and clothed with the e
gal tender quality the utter collapse OF the public credit
was predicted Instead OF these predictions being veri
fed the geeubacks through the wise and conservative
of Republican Administrations are at par
with gold Those who familiar with the action OF the
Democratic leaders during and after the war on qucs
affecting the public credit rot surprised to see
them now work by speech and vote to get rid Of the
reserve without which might be Obliged to suspend
specie payments.
HOW THE DEBT HAS BEEN REDUCED.
The war for the preservation Of the Union cnailcd
upon H. a debt Of nearly $1,000 900 900 This debt less
cash IN the Treasury IS little than $780,
600 900 The vast difference between these two
nous sums has been paid and extngu shed under Re
publican administrations. dollar for dollar i'm good
money fAppausc That is where the surplus revenues
the excess rcepts Nprndinoa, have year
by year, will appear by the following table: