Delta chief., 1883-05-09
The Gold Certificates.
Prom The New York Mining Record.

From the New York Mining Record.
WASHINGTON, April I&.-The treasurer Of
the uniicd states is considering the question
of gold certificates. Secretary Foigrr has not
himself given the subject HE personal atten-
ton. but II i probable that be will do 80 il
his strength shall hold out. The certificates
do not meet with the same favor which they
did at first. 4 prominent Treasury officer
said to-day "The Government can never
gain anything by taking care of the gold Of
other people. When the certificates were
first issued they were given cut so rapidly as
to diminish the reserve to the amount of
81, 100000 before IL wEs discovered that the
issue OF these certificates was practically the
same as issuing gold. .'-.issociHtod PrcGF Dis-
patch.
In this Dispatch. we have another signal
proof Of the pcrycrsely hostile spirit in which
the Treasury at Washington executes the f.
nancial laws Of Congress, for it is bu, an echo
--nonsensc and all-of that spirit. The fact
is. influences, all powerful with the Treasury
department, are opposed to the issue Of gold
certificates, and, indeed of any species of
paper money, save National bank notes.
Under this unwholcsome influence, Judge
Folgcr, in his annual report for lSSi, in adj
vance Of the passage Of the act of Congress
directing that such certificates should be
issued for gold deposited with the Treasury,
was led To assert that "the issue Of such Ger
iifcatcs" would be Every obicctionable''-an
idea that seems to he leading Treasury of
ficials very far in the direction ~ evading
proper, loyal execution of the letter as we'll
as the spirit of the law-ss is sufficiently ap-
parent In the single act Of confining the issue
Of these certificates To the New York sub
treasury.
"Whcu the certificates wtre issued, some
prominent Treasury officer is quoted say
ing, they were given out so rapidly Us to
diminish the reserve to the amount of 81, 600,
O0O before it was discovered that the issue of
these certificates was practically the same as
issuing gold"
Any man who can show, as is thus impu.
IDENTIFY asserted. that the amount of gold in
the Treasury Department, we are very sure
would have no difficulty whatsoever in trans
muting lead into gold or in squaring the
circle, or even in establishing perpetual
motion.
These certificates have been issued upon
the deposit of gold, by individuals, at the
New York snh.trcasury, aud the gold thus
deposited has become part of the gold, coin
and bullion in the vaults of the Treasury, TO
the extent assurcdly of $40 $40, on say
the 10th of April that being the amount Of
gold certificates outstanding on that day.
Even were such certificates issued in payment
of Indebtedness on any account except the
purchase OF silver bullion, in practical effect
il would be the same as receiving their face
value in gold for the gold that otherwise
must have been paid out would remain in
the Treasury.
Clear aud simple rs is the truth Of this
mattcr--clear and sheer rs ought TO be the
talsity of this statement put in the mouth of
some prominent Treasury officer yet unqucs.
tiouablc il will be thoughtlcssly accepted as
the truth by the mass of readers of the even
ing newspaper (the Post) which ,nnscrupu-
lously printed and uttered it, Us 1t does so
much other matter in connection with the
question of finance, with the deliberate pur-
pose Of misleading Its readers. Such news
papers MS the Eccniny Post should not suffer
anyone thus to prostitute their columns, to
deceive the mass of needless newspaper
readers into supposing that by any possibility
- deposit of goldwith the Federal Treasury
10y indi, iduals, ind the issuance of certificates