New-York tribune., 1900-09-25
CURRENCY TO MOVE CROPS.
LOCAL BANK PRESIDENTS ABOUT
THE SCARCITY OF BILLS.

Washington. Sept 24-The pressure for currency
Tor moving the crops Is beginning TO be felt The
issues OF gold certificates by the Treasury at vari-
Gus points in the South and West IN exchange for
deposits Of gold in the New-York Sub-Treasurv bv
banks on behalf OF their country corresponder+s
are already S-0o0 o00 more than at the same time
iast year These exchanges have reached 81 s45 600
OF winch al but 500 600 has been in Seuteruber
New-Orleans has taken g $4,000 in the new gold
certificates, St Louis S75Oo00 and Chicago 800 0OO
These are not the only exchanges being made in
NeW-York and Washington IN order 10 get cur
rency into the country districts. shipment OF
S-eooO0 in small silver certificates has Just been
made 10 St Louis. in return for an equal amount
OF gold coin surrendered TO the NeyT-Tork Sub
treasury Gold certificates also are being received
al New-York in exchange for the payment Of gold
coin at New-Orleans. New-Orleans has received
this month nearly 100000 IN small notes OF vari-
classes
The Treasury is refusing to issue silver certlh-
Gates and other small notes at interior points in
exchange for gold surrendered to the Sub-Treasury
az Nev-Fork, because the gold IS not needed to
strengL hen the reserve. The policy OF shipping
notes @ rom Washington 10 interior points in return
reserve was low, because the banks prodted by the
often directed their New-York agents to deposit
the gold IN order 70 obtain this benefit
BY the Treasury officials. because OF the great in
s5se M. IA me ayalaole @ supply Ehlcn mas been
out IN premiums bonds under the Refuuding
b o per cgn @ b66E b Paq 1 IN {Rs the TGepon recent a Of Of
Secretary Gage s20067 15G These two items Of more
thau $4,000 000 have been exclusive Of the ordinary
expenses Of the Government
Frank A Nanderlip, Assistant Secretary o. the
Treasury, came over from Washington yesterday
and conferred with Assistant Treasurer Jordan
and with the presidents OF several Of the Leading
National Banks OF this city II regard 10 measures
for relieving the scarcity OF small bills especially
Of the s. denomination. The stringency IS at
utbuted 70 the operation Of the gold standard law
OF March, 1900, which restricts the issuance OF IS
notes by National bank 10 ore-rhird OF rs total
circulation, and which also provides that silver Ger
t1cates are 70 issue only against the retirement OF
Treasury notes Of 1880. The retirement Of these
Treasury notes has been much less extensive than
haC been expected the outstanding s. notes in
[lcUlsr having decreased ny only about 100000
Meanwhile the demand from the interior tOr cur
reney mas been increasing so largely that the local
DaEs- II Is said have fell Y prudent 70 hold
G considerable part OF tLe- small bills Il IS IN
CeTstooC Jh5t the Treasury Department IS anxious
70 encourage the deposit win the local SUb-Treas
ury or Treasury notes q r-s larger dsEOHIIaC lions
and may as lnduceusl- 70 such acticn issue
on which the transportation charges would be re
u-rI6C- One measure OF immediate relie- decided
upon cy Mr- NanCersp Is the fO-War riding q $4,000
n 3. gold certificates which expected 10 reach
nolnceC yesterday that the banks could exchange
g and g silver certificates for the s. and SO
C6Doultns lions = desired The Government IS also
able 70 Issue about s. coo 0G0 IN United States &c
notes, and may decide 70 DO 50 in exchange for gold
OF gold certificates.
The rapid shrlukaEe of 3 notes q shown in the
following tables w1ich er3rac &c notes OF all vare-
ties;