New-York tribune., 1885-08-16
DOUBTFUL EXPERIMENT WITH SPECIE.

WILL ANYTHING BE SAVED By TAKING MILLIONS
OF COINS PROM NEw-oRLEANs By SEAT
The proposed removal of large amount Of
silver coin from the Mint at Neworeans to the Treasury
vaults at Washington, by the United States ships swa
tara and Yantic will be the first instance probably in the
history of the country that naval vessels have
bsen usea in the transportation OF Govern
ernment treasure The experiment s to be tried 1t is
said the interest OF economy but the result Is by no
means certain. The Treasury Department has special
and exclusive contract for the transportation or Govern
ment funds with the Adams Express Company, which
has fits own contracts with connecting express
lines. 1t 10 understood that tho agreement com
prises an srbr rry rate for currency without regard
TO the distance and for coin fixed rate per mile The
United Treasurer processes to regard the rates as
exorbitant while the companies naturally look
upon the too low for tho risks OF the
services They also consider the proposed experiment
direct violation Of the contract and at any rate an us
II Is unfar" an officer of one company said, that
the Treasury should take the kernel aud leave US only
the empty husks II the Government should save some
about the general transportation. o,.os
The carrying the coin by sea Is large aud raises
delicate questions OF responsibility OF loss Even
II the eb' should be economical, many persons doubt
the wisdom Of incurrng tho risk Az the sub-Treasury
coin IL lilo mills mile for each thousand dollars
5000 ooo silver dollars from Orleans Washing
would be about $4,000. THIS amount Of coin would
weigh 30 and require about ordinary
railroad freight carry it, II Is considered ex-
tremey doubtful II the Treasury will save much by tho
experiment
IN VIOLATION OF A CONTRACT
WASHINGTON, Aug. 15.--It is said by certain
officials OF the Treasury Department that the action OF
Treasurer Jordan ordering the transfer OF silver coin
from New Orleans to Washington by United States war
ssels Is In violation Of the terms OF contract with
the Adams Express Company for the transportation OF
pnblic moneys and securities. This contract, which has
never been annued was executed by Secretary sher-
on February /, 1879. One provision read as
follows: "The United states hereby agrees TO employ
the SAID Company its exclusive agent for the trans
pertaton Of all moneys aud securities belonging TO the
United ttes and TO give to such agent for trans
portation all such moneys and securses Of every Kind
which to be transferred from point TO any other
within the territorial limits OF this contract This
exclusive agency shall not be held 10 include securities
IN transit from the Treasury Department TO the
sub-Treasury ut NewYork. from TIE latter TO the
Treasury Department. which have become effective
by delivery TO purchasers" IL is learned that the
express company has taken any steps tho
matter but IL Is ntmated that suit will eventually be
instituted against the Secretary of the Treasury
breach OF contract The costof transporting S. o000
IN silver from New-Oreans to Washiagtoa under the
contract with the express company would be S22 200.
tie rate of "a 40 900 and not Sl2oV00,
has been published.