Approved, July 29, 1916.

TREASURY NOTES.
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Some of the whig presses and theif cor respondents are attempting to depreciase the value of treasury notes. We see occasiols- al paragraphs that they are ?, 3. perhaps 4 per cent below par. This is gross mis- take, if not misrepresentation. We under stand that they are at par in Philadelphia, New York, Sc. They were below gar for . short tune at New Orleans, because the city banks there refused to receive them ai par. But the Secretary of the Treasury soon pu, everything so rights by instruc,ing s.ihe collector of customs in that city and othes United States receivers of public duess to dis continue the receipt of the notes ofthe city banks, and accept only gold and silver, os treasury notes" Thus plainly telling them Sour notes are as good as youFs.n 2diy1 By issuing circular on the llth September, making s1all treasury notes, as well before as after maturity, redeemable here tat Wash ingtonl at the treasury of the United States in specie or in sight drafts of the Treasurer of the United States, equivalent to specie, and payable in specie. dvawa at his option, upon Baltimore, Philadelphia. New York, Boston, or the public Repositories al such other pla- ess as may be mutually agreed upon,n the Secretary of the Treasury dissipaied all doubts about their par value. But il would be strange, indeed, if any attempt to saa down the treasury notes should prove cue. cessful, when there have not been two mil. lions of dollars ef shem yet thrown into cir ealatioD- -- Uaicn.