Show WOULD NOT HURT THE BANKS Would Injure the Labor Interests by Reducing the CirculationBanks Could Exchange Their Notes Washington D C July 19At the Treasury Department i was said the plan of Mr Sovereign for the Knights of Labor boycottlng National bank notes If carried out wduld prove more mrmful than beneficial to the labor interests of the country as It would contract the currency to the extent ot 2ll000000 without Injuring the Na lonal banIs i I would not hurt the banks at all said Mr O P Tucker deputy Comp roller of the Currency I people should refuse to receive Ihilr notes th banks would simply present them to ho United Stales Treasuryior redemp lon and receive legal tc del notes which they would conllnua to use In holr business There are only 211 000000 of National bank note In circulation circu-lation while there are 950000000 of other kinds of money outstanding CARLISLE NOT ALARMED Chicago July 19A speclalto the Dally News from Washington says Officers Of-ficers of the treasury from Secrelary Carlisle down to his subordinates who have charge of banks and the currency were today discussing the threatened boycott by the Knights of Labor against National bank notes I was about the only subject talked of but after a careful consideration of the question In all Its phases Secretary Carlisle expressed the opinion to one of his advisers that no serious results would follow such a boycott Ills conclusion con-clusion was based upon the figures In regard to the circulation of National bank notes The amount of these outstanding June 1 1895 was only 205579490 and of this amount about 20000000 Is bell by banks National bank notes liave l never been made legal tender by statute stat-ute so that It Is true that It would be Impossible to force any person to accept ac-cept them In Individual transactions They are however available for use by the Government In the payment of 1 all Its obligations except for Interest on I the public debt and the redemption of National currency They are also re I celvable by the Government as taxes excises for public lands and for all obligations due the Government except ex-cept duties on Imports Section 6190 provides that National banks are compelled tender com-pelled to accept these notes as legal When they hove found the kind of machinery that will most successfully handle their ores It Is their Intention to erect a large mill at the mine forth for-th treatment of the same for nnougir are Is In sight In tho Dalton and Lark properties to keep a large plant running run-ning regularly for years to come IKirS < ular shipments of llrstclusa oro arc be InK constantly made 1j 1 j 1J |