Rensselaer Union, Volume 10, Number 44, Rensselaer, Jasper County, 18 July 1878 — Sherman Talka About Carrying Out the Provisions of the Resumption Act. [ARTICLE]

Sherman Talka About Carrying Out the Provisions of the Resumption Act.

Secretary Sherman conversed ffSely upori general lopiCJ (hie evening. He say a that everything he did vdhilC ut Newt York last wick, and a great many filings that were not dune, were published in the newspapers.; Your correspondent is warranted in giving tl.e following outline of sorh'e of the interesting facts in relation,to resumptib# mentinned by Mr. Shernmu: iVe would resume to-day, btrt fl woulif not be pr< per to do so. Tho law fifes tfi'e date when wo shall pay coin fur piper 4®!taTS. It moans payment then, and wot fore then. It will be better to go along fofi six months, and let the people understamf that this condition is real. Then the good effect will be felt, confidence will be restored, capitalists will come forward, and invest their means, and manufactures will revive. Thu premium oagold is merely nominal now at unt-half per cent; . The sole of a half million tff gold vtould break the market. A prominent broker in New York told us that and million would kn?ck down this premium, tbclievcgold willgodowil to three-eighths shortly, and soon thereafter to oue-ejuarter, which is nothing more than a broker’s premium. The balance of trade is greatly in our favor, having reached last year; our bonds havu ceii-e.l to return from Europe. They frau been returning since the panic of 1873. At that time about a thousand millions of our bunds were hchl abrvaif—now not mure the.n about two hundred millions tiro h«M there, and sevcnty-lhe millionsreturibdiiir tYwr months dtrriifg TO sHrer agitation. All the bonds that have returned have been absorbed (in this country; nano went badlf to Europe. No more boh'da will be sold; There is. coin enough in. this treasury with which to maintain resumption. There is all told; or rather; we have in round figures $123,000,000 gold and silver dollars in the treasury for resumption purposes—that is, exclusive of all coin obligations, consisting of coin certificates, due aud interest on bonds, and is also ex 4 elusive of the subsidiary silver on hand.—■ n'ushinyton Special to Cincinnati Commercial.