The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-07-16

s.e&sI Dispatch TO the Post-rntelligencer.
CleHINGTON, July i5.-According 20
y. sstrnate OF United States Treasurer
~. n Roberts, 100000 Of bonds OF
~ government will be presented within
- calendar year for conversion into the
- Ger cents. Bonds amounting to
~. an 900 900 have already been pre-
1870 and the new bonds are not yet
v-sr prtntec. This work is being done
- a. bureau Of Engraving and Printing,
- vtli be completed this month and
~ distribution begun as rapidly az pos
dnie
ncberss that the total exchanges within
- wear Will reach 500, 10000 ia found
~,tiy in the present state OF the bonds
Ix by national banks TO secure circu-
ir1sou and public deposits The bonds
,isleod IN the treasury 10 secure cir
<risiion on June 30 were s2s4.2s .e4o OF
49, m, 80, go were In the new per
sseka about 81. 10000 were % the three
$500 available for refundlng and Sis.-
40 we're OF the two classes which
- D0f covered by the refunding law.
~ latter include 81 900. 700 In the old 2s.
80 ere IN process OF redemption. In
$500 10 the sum OF $27, 900 OF re-
frn6nh1s bonds, pledged for circulation,
~ hanks have pledged for public de-
rl1lss nearly ss5, 10000 of the same classes
y boods II Is reasonable to suppose
A. a this sum more than ss2, 90 900 In
800 available for refundinR. so. 900 go
IN b presented for that purpose. This
nm aione will carry the issues OF new
~ cents 20 about 5e.ooo. 600. and would
i've only 81. coo.0oo TO be obtained from
ev3vsfe holders or from banks which may
seeu1Ea additional bonds in order to bring
~ total exchanges up to 800 900. 900.
Eject Of Crop Moving.
II b not unlikely that the pressure for
usrsacy during tho crop-moving season
IN also have an influence In increasing
~ deposit OF bonds by national banks
= ne basis OF circulation and CONVEX
aons into the new per cents. The total
smcunt OF the three classes OF bonds
svaIahIs for refunding when the refund
n law took effect was tsse. i4s. $50. The
nfundlng OF $500 0to,0 600. or noarly 10 per
eat. goes somewhat beyond tho expec-
nusRs Of conservative Judges and will
s1ofd . not saving to the treasury OF
abeut ci00C0.00.
~ saving thus far by the exchange
= bcnds has been f7,s42,Ti0. This IL tho
* saving from the date OF exchange
= 10 the maturity OF the old bonds. II
nlWsst up to maturity nor any of the
avinG by the reduced ratio of interest
fom the date OF maturity OF the old
bonds during the remainder OF the thirty
ysars for which tho new ones will run.
m treasury In out OF pocket In sense,
NJ the present. by tho payment of prcmi-
~ In anticipation OF interest payments
n the old rates In the future, but that
~ been an advantage by enabling the
errstnry 10 keep under control the large
pplus which has been accommodating dur
~ the past year.
Total Premiums Paid.
recent tabulation, prepared by AS
au(ant Secretary Vanderiip for Chairman
neslua. Of tho house committee on bank
- shows that tho total premium pay
neats up TO June ~ were 1so. 7as. 0st. Tho
mvinG In interest was about t3s, eoo 600.
laavsnx a net saving as above stated. The
nanner In which the exchanges OF bonds.
lf~snums paid and the net savings have
hen distributed over the different classes
'pfunded In as follows
Class 81 Amount Premium Net