Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1886-08-05


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The surpius Resolution.
Following is the text Of the Surplus
resolution in the amended shape in
which ii passed The Senate Friday
That whenever the surplus or balance In |
the treasury, including amount held Tor re- |
demption OF the United STATES notes, shall |
exeeed the sum Of 100000, 900, 10 shall be |
and II hereby made the duty OF the secre- |
tslFy Of tho Treasury 10 apply such excess,
IN sums not less than *iDUu0, 900 per month
during the existence Of any such surplus
~ excess, to the payment q interest bear
ing Indebtedness OF tho United States pay
able at the option Of the government.
The surplus or balance herein referred to
shall be the available surplus, nseertnined
leeordlng TO the form of statement Of the
United States Treasurer OF the assets and
liabilities of the Treasury OF the United
States employed on June 3Oth, 1886, pro-
vided that no call shall he made under the
provisions OF this resolution until sum
equal to the call Is in the Treasury over and
above the reserve herein mentioned and
ivvvjded further, that the Secretary OF the
Treasury In his discretion may have In the
Treasury, over aud above the foregoing
sums, working balance not exceeding
$40, 900, 900; and whenever In the case OF
any oxtraordinarys emergency not now ex-
latinR and when, because thereof, In the
opinion OF the President, the public in
terests shall require It, he may, by written
order, direct the Secretary Of the Treasury
to suspend the further call for the payment
OF such Indebtedness for such period of
time as shall be necessary to main
tain the public credit unimpaired.
And that such suspension aud the reasons
therefor shall be reported to Congress
within 10 days after Its next meeting or i'm
mediately, IL Congress shall be In session.
That for a period OF six months after the
passage hereof, United States trade dollars,
II not defaeed, mutllated or stamped, shall
be received at their face value In payment
Of all dues to the United States and shall
~ not be again paid out or In any other man
ner issued. That the holder OF any United
States trade dollars, during the period
aforesaid, on presentation OF the same Mt
the office OF the treasurer or any assistant
treasurer of the United States, may receive
In exchange therefor like amount and
value, dollar for dollar, In standard silver
dollars or in subsidiary coins, at the option
OF the holder and OF the United States.
The purport of the Senate amendments,
as will be seen, is TO give the President
power to suspend paying out the surplus
whenever, in his Judgment, the public in.
tefeslz shall require it, and to remove
from the NATIONAL credit the stigma of re.
pudiating coin minted and stamped as q
dollar by authority of the government
and intrinsically more valuable than the
Bland dollar.
1t is blot upon our national reputa
ton that the trade dollar should hay,
been dishonored so long. The plea tina
Congress legislated it out of existence al
an American coin is little better than tn,
sheerest . phistry. Professional fnan
ciers of course kept track of snch legis
lation and were able to unload their re
pudiated dollars in time, but upon whoi
did the loss fall? Upon the workin
people of the country who, IMMERSED
subtlety, only saw that the coin was ma,
at the government mint, was stamped
dollar by government authority, AZ
bore the imprint of the United States
America" They took these dollars nj
were surprised to be told afterwards I'll
the government stamp meant nothing al
that the coins were only worth TIKI
weight as old metal. 1t is not likely nj
that many Of these dollars remain in
hands of these unsuspicious takers
- = - - ~ -
80 :. - - eo,' - 49,, !,
proven to be sadly misplaced, came fl
ward and offared n talra tba 1,shonor
coins al mar in The vov NJ trade and ~,
10 that bonor Gov tl,oir rado,,,,t;on n
n,a,, -. 80 ~. a. H. tar, att.
H., 5,.,a.. t,t3a s,rah.t,i,. ~ I'LL !
r,ora h,1i;o,, ,o,,,, ~ t,,ai,a., :,
hanks donbtlsss hold most of tbose 90
nov, so,,,o ho,o fo,,na t,,a;, ~. =
native ~. raw nav s,;,1 ro,,,o;,,
ANAL snrs IN ,ri,oto bonds R,,t =,
avar NAV hold tban, ond ,yhoeyor no,
banoe,ad ~, +hoir ra,1or,,,.ior ~ =,
hind 90 honas,,, .ha4 ooila ~ a. :
wbo MT. h;s ns,,o a. not. i, No.
al mat,r;,,, ool,. rno, ia ,,o,ar,,,,
that iosroa ond lobols3 tboso oo;,,s
honor tbe ob,iao,;on 4 thns i cnrrod
Th;o .l,or1d horo No., ao,,a Lei,
+ho ,aoaso;t,, oe +ool,i,,o ~ ,,,.6o,
tbo,ofor ae r;dor ,,o, ,,o,sr,o III
NAV fo;, Il roc.;,a a. oorcnrronoo of
Uonsa or tbe onnroyal ~ ~ pros;d,
Ttshon,dbova baen doroono,,i,, .,,,,r,
anil n,on &c o,,,, MATTE
Tba nripc;,,le which onimates ~ !,
lntiop IN which tbia smena,o,, !
r;dor l. no ,,o;n ACKNOWLEDGEMENT 1,
mass ono of having yonr ,lahts ,ybsn
have the money instoaa az ,oo,,;n, +
rnonar l,,;no ;dia i VI T.
Tha t,,.;,,s.s ~, H.
s,ora III s,,r,,l,,s 49,, /, ~, a.Its..
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g. - -. !.
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