Telegram-herald., 1890-05-04
WINDOW EXPLAINS.
ne Secretary OF ths Treasury On
Lhe C4-re1cy Question
PryLIC FUIDS not BEING BOARDED.
"A. Dssiss the Charge Ts.I ths As02ln p
s1rati0a rss0rs C0atr4ettos fAs
HSsss R~fusss - P.ss ths isssr-
n4liOaal coPyrlgEt BlA

wAssSGroS, Nay 8-SecEet4ry WIZ
aom hzs erlt.en letter N reply - an
article ia . financial nswspsper on TIE
general subject Of tie currency n
~hich be ref4sss the assertion thai TIE
AdminisErauon fSVors a esntr2ctlon ~
the currency. lie gives figures II re-
gard % the circulation and treasury
holdings May 1, and makes comparison
with the estimated circulation OF
the principal countries 0f Europe
According 20 these figures, ana esu-
mating the present population o! tae
United States a. o., o00 900, the amount
OF metallic and paper money IN the
United States, not Including any por-
ton Of The amount held b. the Treas
ury Of the United States, ia So 81 per
capita, or more than in any Of The lead
ing countries Of Europe with the excep-
tion OF France in which tho circulation
IS estimated II S57. S6 per capita
In regard 70 the money supposed 10
be boarded by the Cnitcd States Treas
ury the Secretary says.
Aside from the func d posted ia the Treas
pry oy NatiOnsl banks tor tbe redemption o.
their uotes which have beeR ret rec WI tie
Government hocs a. a trustee and the bal
s1ces "a deposit "a the Treasury D. disoursn ns
orc5rs. tke Oaly reserve salca is Aepi ~ Inc
Treasury Is tccDQ0) .n geld Tor tlc tc3enp-
ton O, legaltsrs-r notes - Prof.4ed by The
acts of 1875 and 1884,.
There is 40 disposition on Tie part of the
administrator Of The Treasury 20 hoard
meney ana the se-csiled surplus, W. cn ) ne
excess OF ne receipts over the expenditure
can be used under tAe present las ca4y ll the
A @ o. o.
States watch is being doae - r&p .Gly As he
bonds can bc i-ciciously purchased inc sur
plus on the lst inst. araogntcd 20 ouly IS 90
ee3 exclusive Oi fractional silver eoinl. Of
which s3l 64s sss was on dep ST. IN National
banks. performing the edy OF cir
CT GtEz medium. II Is tie policy and
purpose OF the department 70 withdraw a
large poriioa OF tA.s deposit and iates- II IN
United States bonds rapidly IS j. cln oe
done without danger OF decreasing lie actual
circui alton"
In support OF this statement the Sec
retary says that OF the $3.50, o4S,26l, to-
tai amount OF money in the Treasury
April ! last el34, 03o. 079 in gold coin
was deposited for the redemption OF gold
certificates and S2s0, 6O5,5 552 in silver
dollars for the redemption of silver cer-
tifcates. Neither OF these amounts be-
long 10 the Government, but both are
held simply in trust for the redemption
Of gold and silver certificates out
standing; s67, ,s9l, 267 was held as a fund
for the redemption OF National bank
notes, consisting of money paid into
the Treasury by National banks for that
purpose, while S3S,972, Isl represented
the money 70 the credit Of discussing
officers and kept in the Treasury
merely as matter OF conven-
ience and which they check
against; SG,074,53 consists OF silver
bullion from melted trade dol
lars; s4,634, 9O1 silver bullion at the
mints purchased for the coinage OF the
silver dollar in process Of coinage; S22.
sl4, 564 of fractional silver coin largely
mutilated and abraded for which there
is no current demand. and 500, 600 600
was held as reserve for the redemp-
tion of legal-tender notes as required
by law. total Of s665, 931, O37. The Sec
retary closes his letter as follows:
Il have already recommended in my annual
report an increase Of currency 9mouEtlng 20
about saOoolG0g per snnum. II should be evi-
dent therefore. that this letter Is rot intended
10 express any opinion as 10 the suniciency Of
our currency. but only 10 correct certain state
ments as 10 its quantity
HOUSE.
WASHINGTON, May 8. - The House
Friday resumed consideration OF the
international copyright bill On mo-
tion OF Mr.. Payson QlL) an amend
ment was adopted providing that
whenever any foreign nation shall by
its laws, or by convention or treaty,
grant to the citizens ofthe United States
rights property and privileges equal
70 those granted by this bill TO citizens
OF foreign countries. the President shall
make public PROCLAMATION thereof; and
from the date Of the proclamation the
citizens OF the foreign country shall be
entitled to the rights, property and priv
ilegss hereby granted.
On motion Of Mr. Pavson an amend
ment was adopted striking out tho
clause which prohibits the importation
OF any foreign book, printed abroad. for
which copyright has been granted by
the United States.
The vote was then taken on the en-
grossment and third reading OF the bill
and IL was deieated-yeas. %; nays, 126.
The evening session vas FOR the con-
sideratiou of private pension bills
sFSATF-
WAsHTSoToS, Nav An the Senate
Friday the administrative customs bill
was taken Up. After a lengthy dis
cussion The bill was passed by vote oi
IS 20 IS.
Senator Plat Conn then called up
the blu FOR the admission Of WY0ping