New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-12-02

u,,o, .,ne mat, onal credit and the business Of
country ~ ssf
age and especially by the Issue Of xer and thew may
These certificates ameant 20 bS the Silver against which
De haye not been issued. Lake silver they are
only I'll rn TS% Sre' in
% ADVANTAGE the United states notes wnic nre NOV
IN law receivable for customs dutes but ahonen ns
% thus prevented from depreciation the fact exsts an
largo OF our paper currency oa.cd on v a Tho
only about IS cents the dollar But this Is not an Wv.
certificates. being receivable for duties prevent so
from coming into the Treasury ro,orr,rc 70 the fact
that tho Treasury member OF the Ncw,fork oic,i
nrnihi,s banking associations from being members OF
any clearinghouse In which SILVER oor, a, w., resom
lion OF the associated banks ,nomnaly complying WIN
that act, remarks: , ,,..,.. ., ,o,,,,i
ancc with law neither standard silver dollars nor s'c
certificates have been or are now offered IN % r
Trained taking any steps to cnCsG Sc G na pSse there
fore NOT been payment Of obligations presented
through the Sscanence OF the naxity of the Treasury
under the existing practice to use either the siygr
dollars or the silver certificates In it, settlement wan
the Ncw York Clearing House. where ny ar inc greater
part OF is disbursements ma ic the available so" r
sSTn S ON on ssi i'" wc the silver
dollars aud bullion on hand not h. same ny period
Snts% to- 1Ssiss '"'" INC SANE
temporary cxpedient TO stop TINS dra N OF GoH
vas d,rcc,ed to use IN payments to the clearing
United states notes to the extent OF one na Oh ,no may
n a, the Tim" of the beginning of this mode OF pay
no much reduced that they no longer avalia"e lot
such payments 10 any considerable extent, ,,.,.
,ents entirely in gold or gold certificates shall result in
continuous Of gold Ia the Treasury not III te up 10
the question must soon arise decision of the De
Tarnent as to whether 1t will continue 10 MAKE ,ne
gearing house paymcnts entirely In gold or lts repre-
sentative for that purpose tine silver uoli.rS OF
their eesates i IN sTs nor held for
certificates outstanding To the a. ailahle assets any 10
all siaar to that in which they are uSou " o'"e
In Sscertaning what This proportion is It Is to be
bullion now owned by the Government SO oooooo was
obtained by the sale Of bonds under the up m Hrs
il held that this amount i avallahle Tor no o'r
purpose than redemption of United states notes inc
s go" w Hoo ccmnarcd with Si6sSi 500 in silver
dollars, including bullion available Tor the same pn
Or If /, be held that the provision in Section II OF the
act July II, ISL snspendng the issue o Eor
rservc for the redemption United States notes falls
below $oooocoo2 Is by incaton m vns. them
the balance Of gold which may he used Tor ordinary pay
n is evident. from these extracts. and it Will he
rendered stan more evident by an examination OF e eur
gold and that panic an adverse current OF exchange
might compel the use in ordinary payments ny , he
United States notes or the use Of silver or SILVER cet
aie IN od the H Gd in Of the III treasury p obtained by
the sale OF bonds FOR resumption PURPOSES IL wa uU
less the intention of the eminent gentleman uidel wsc
REMUNERATION the Treasury specie payments we're re
ened that least this should be held III reserve oI
the redemption o United states notes ana not usr lo
any purpose. II is understood that ne wcn i,hci
than this and properly entertained the ollh"
an amount of gold equal to 40 per cent ol tf
limited tes notes should he held their protection
Government which engages In banking by FURNISHING
n circulating medium must he governed ny INC
rules which prevail with prudent bankers. ana he con-
stantly prepared tn such calls may hc maze up"
II.
Many persons regard lecal-tcnder notes as being
money aud hold that means should be lroNldru iot
their rclcmpon That this dclusion will be proven
whenever there is large demand for gold for export
nat I'M moral
the Government he prepared 10 redeem all tha'
may presented forfeit its character for Solvtncy
The following IL analysis of the statement OF the
liabilities and assets of the Treasury of the United
States, october 81, 1851