Year: 1878




WASHINGTON, March 20, 1878.
THE uNExPENDED BALANCES IN THE TREAS
uRY-wHY THEY ARE NO LONGER FURNISHED
FOR NEUTRALITY-SUSPICIOUS. SHERMAN SAT-
IsYIED WITH THE FINANCIAL SITUATION


Secretary Sherman says that there no significance
in tho fact that he has not gwen tho amount of tho
unexpended currency balances in the Treasury De-
partmens usual. He considers that they arc OF no
real importance as showing the amount Of
money the Treasury. because they are
not and cannot be technically and closely
accurate. Besides this he asserts that no
increase or diminish tho amounts either by TAX
ing money from tho banks sub-treasurlcs whore Il
Is held Tor account OF tho United States he can sell
gold and apply the proceeds TO make exhibit Of
rcncy balances He therefore regards as absurd tho
sensational rumors that ne is stralened by the low
Of tho balances and that he would have to call
for increased taxation. He says taxation has
nothing 10 do with II. Tho question OF
unsxpsnded balances being shown to be greater or
smaller is well understood by the bankers and hnan-
ciers Of tho country. and that IL thing which he
can control ad i5tfum far the amount OF moucy
In the Treasury is concerned and to tho extent to
which IL Will apply He IS wcIl satisfied with the
don Of things as they now, all things consido red
Thore $780, 900 Of gold in tho Sub Treasury
Now York, and, added Secretary Sherman $50 far as
the coinage and circulation Of silver Is concerned
vantageousy to the business OF tho country. am,
may say, master Of tho situation" He denies the In
tcntion attributed to him defeat tho intention Of
the Silver bill by applying Its provisions to the
sumption or specie payments; that the law does OF
ITSELF IN effect, because after the silver Is issued by
the Treasury Department, being available for tho
payment of duties, rises to premium and Ia
paid back into tho Treasury OF tho United States,
when It may taken into account In the machinery
OF specie resumption. If things continue they
now ho feels perfectly satisfied that he will havo no
difficulty In carrying out The act TO establish specie
paymsnts As to silver for circulation In small
amounts among the people, thero will be no great
amount taken up because, from Its premium
character, IL must necessarily be boarded
for payment OF dusiss under tho law. He is to
appear before tho House Committee Of Banking and
Currency this week TO give them, by invitation, his
views ON financial questions which they ex-
aminlng. On tho whole, with iull review OF the
present financial status ne expresses hmself we'll
pleased full OF q reasonable hope in future OF
prosp6rity


THE BANKING AND CURRENCY COMMITTEE IN


SEARCH OF INFORMATION.


The Committee on Banking and Currency to-day
addressed q letter to Secretary Sherman Informing
him that the committee would be glad to hear his
views the practcaby OF carrying into. effect tho
Specie Resumption act The Secretary was requested
to name any day but Eriday. When IL was susgested
to the chairman Of the committee that Mr..
Sherman had already, at great length, OK.
pressed his views this subject TO the
Senate Finance Committee be replied that
tho Banking and Currency Committee wanted
TO nterrogate him at length and that the report Of
the conference with the Senate committee was not
what the House committee wanted. Tho committee
has also extended invitations number of the lead
Ing bankers Of New York, among them Messrs. Boil
mont L. Co., 70 como before the committee ana give
their views on the subject OF specie resumption ON
prominent nnAnoiers OF New York will respond in
person to the request OF the committee.


EXPRESS COMPANIES TO BE PERMITTED TO


CARRY NEWSPAPERS


The House Committee Post Ofnccs and Post Roads
to-day decided TO strike Of tho bill rcclassyng
mail matter tho sections which forbid express CON-
panies carrying newspapers II is said that the com.
mttee did not intend retain sections In finally
reporting the bill TO tho House, and that
they only introduced 10 draw public opinion
Tho expressions which have overwhelmed the COM
mittee have convinced the members that It would
have been . very unpopular restriction, ana the
prominent publishers who came forward to oppose
the proposition have informed that their argu.
ments will not be required. The committee meets to-
morrow night to perfect the BILL tho man features
which have already been published.