Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-12-08

1855. for the seven years since the act
Authorizing the coinage ofths standard
dollars was passed, net profit Of$25, 1872
ls4 90. This accounts Tor q part Of the
accumulation in the United States Treas
ury. This SIS, l22, ls4 80 would be the
only accumulation If the silver bullion were
paid for in silver dollars.
The silver certificates then explain most
of The other accumulation. Section 3 of
the act of February %. 1878, says:
That any holder of the coin authorised
b7 this act may deposit the same with the
Treasurer or sny assistant treasurer of the
United States, in sums not less than ten
dollars and receive therefor certificates
Of not less than ten dollars each, corrt-
spondipg Wirh the denominations OF the
United States notes. The eoin deposited
for or representing the certificates shall
be retained in the Treasury for the pay
ment Of the same on demand. Said GER
ti6cates shall be receivable for customs,
taxes, and all public dues, and, when so
received, may be reissued."
Men who have sold the Government siL
yer bullion have in the great majority of
cases awaited themselves Of the privileges
of the above section, and instead Of taking
9 wagon load, or two or three car loads Of
silver dollars in payment for their bullion,
have left These dollars in the treasury and
have taken silver certificates showing that
they have so much silver deposited subject
70 withdrawal whenever the certificates are
presented. The Treasures report says
that up to November l, 1885, silver Gel.
t6cates have been issued, which are req
resented By standard silver dollars in the
Treasury Of the United States, to the amount
Of Sl25,G5 3d. s6."
The SIS, l22, l84 ssigniorsgs and the
Sl25, O532S6 of silver certificates have
thea accounted for nearly all Of the sccu-
mutation in the Treasury. The remainder
can be accounted for in this: when the act
was FIRST passed authorizing the coinage OF
( the standard silver dollar there was but
little silver in the Treasury and the fret
eight million dollars worth Of silver bull
lion was paid for in gold Also, when the
silver certificates are issued they are of,en
returned TO the Governments in payment
for customs, taxes, &c in which case they
are sometimes again isauedin payment for
bullion, thus making it possible for $4,000
900 Of silver to be in the Treasury repre-
sented by only 81. OOO. 900 of, outstanding
certificates.
The second question, Does he demand
his pay in gold like other United States
creditoIsY' is answered in part By the first.
According to the laws authorizing and
regulating silver coinage, the Secretary Of
the Treasury buys the silver bullion and 1t
is paid for in silver dollars or silver cert,
fcates just the same as those selling the
Government gold bullion are paid in gold
coin or gold certificates. The nan who
sells the Government silver bullion can not
be called g creditor unless he takes silver
certificates and these expressly stipulste
that the bearer of the certificates is to De
paid in silver.
The third question, HAS the Hon. Sec
rotary Of the Treasury a right to pay one
creditor in gold and another in silves2'
can hardly be said to apply to the pur'
chase Of silver or gold bullion unless silver
or gold certificates sreissued, in which case
the Secretary can only pay 10 the kind Of
coin the certificates call for. But taking
the question as stated, the Secretary can
pay the creditors o. the Government in
either gold or silver unless the contracts
designate otherwise. The act of 1878
rays that the standard silver dollars shall
be q legal tender, at their nominal value
for al debts and dues, public and private,
except where otherwise stipulated in the
contract" The same can be said of gold.
An answer to the fourth question may
be gained from what has already been
said.
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How Dead Horses Were Utilized.