The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1892-12-27
DESIRE TO STOP 1T.
The Drain the ! reasury for Gold for Ship
nnni 70 EurOMe.

Il
DESIRE TO STOP IT.
| The Drain on the treasury for Gold for Ship
mont 10 Euroue.
Washington, December 1S.-The continual
drain on the treasury for gold for ship
| ment to Europe has led some treasury Of
ficials to advocate a plan to stop the over
flow. Their plan is to refuse gold in ex-
change for treasury notes issued under
the bullion purchasing act of 1890. These
notes are "redeemabe' in either gold
silver at the option of the secretary Of the
treasury. There are $120,000,00O of them
outstanding. 1t is learned that it is this
class of money that is being presented
largely at the subtreasury at New York
| and gold paid for it. These treasury notes
are said to be paid largely in New York,
of which 3a6,O0O,O0O are outstanding re-
decmable in gold, without the option. but
| $l0O,O00,0O0 in gold is constantly kept on
| hand to redeem them and for the reason
that holders can get gold for them when
| ever they want to- they are seldom pre-
sentcd. These notes are more generally
distributed, it is said, than the treasury
notes. The secretary, of the treasury, how
ever, while he has listened to the sugges-
tons of his subordinate officials, says he
will not exercise the discretion vested i'll
him and stop the payment of gold for treas
ury notes. He says he has sufficient gold
on hand to meet all re0uirements.
Doesn't Feel Uneasy.
=, Was Washington. December 1s:-secretaEy
alarm felt in financial circles over the prospect
| of large shipments of gold abroad that his
duty to the public would be vigorously per
sible resource to preserve a parity between
gold and silver as the law requires He says
to to- sell '' bonds # Necessarily to maintain the
gold reserve. The money with which gold is
purchased at the treasury can be used to
again buy gold. Mr.. Foster said that the
present gold reserve will be maintained. He
anticipates no serious embarrassment in so
doing.
there ia Plenty Of Gold in the Treasury.
Washington, December 19.-The treasury
department was kept fully and promptly
advised of the progress of the stock market
in New York today and Secretary Foster
was in conference with his assistants seV-
eral times upon the situation. After the
department closed, Assistant Secretaries
Gear, SpauIding and Lambertson gathered
in the secretarys room and discussed the
events OF the day There q reporter for the
United Press found them with no indica-
ton of any excitement apparent. The sec
rotary said in answer to d question based
on report printed in New
York. stating that he was much
intended to come over to New York to con-
suit New York bankers.
Il am not going to New York to confer
with bankers or any one else about the
financial situation. There is nothing in it
TO warrant Slic0 dctlOn. Inc iNed HAS ioI
preYIouS Y even occurred to me.
You have noticed the engagements for
gold shipments tomorrow and the panicky
feelings reported on the stock eXchange:'
"Oh, yes, but there was more comforta-
bic condition OF things at the close, you
know. AS to gold in the treasury contin-
ued the secretary, I'VE are all right. Last
month, exports from this country amounted
to $7.0OO,0OO, but the treasury lost half
a million only. The reserve limit is liked at
ND 7 hn,
than that. The resources of this country
are greater and more varied than most
people know, and money that is paid to the
treasury for gold can be used for replacing
the amount sold. Money is needed west and
south to buy grain, provisions and cotton,
and if can save man five or six hundred
dollars on million, he doesn't stop at giving
me gold in New York for currency laid down
for him wherever he wants it. If they get
us down in this matter, it will be only alter
a long fight and hard one"
shipments of Gold.
New York, December 1.-the following
engagements for shipments of gold to
Europe by tomorrows stamers have been
reported Hedelback, Keheimer Il Co,
$1.200.OO0; Lazard, .lreish y 60, $1,000
00O John Loeb & Co., 100000; Laden
burg. Thalmann. 100000; and Barring
McGown, $500.0o0. Total, 81, 10000.
Invitation to the knights.
Washington December 19.-An address to
thc order universal of the Knights of Pythias,
numbering over 100000. has been issued by
Richard GoOdhcart, chairman of the executive
committee of the grand lodge Knights of iy-
thias District of Columbia. urging them to
visit the capital on the occasion of the meeting
of the supreme lodge here in August, 1894.
Another Fast Mail.
Washington. December 20-General SUI
periutendcnt White OF the railway mail
service arrived in Washington from a tour
west and south, having arranged Il new time
schedule between Cincinnati, Louisville ana
New Orleans. Jacksonville, st. Augustine
and Tampa, Fla, over the Queen and
Crescent system by which mails, both north
and south between these points will be al
yanccd about twelve hours, which is really
a gain of twenty-four hours, as by the Old
schedule the mails arrived at New Orleans,
Jacksonville and St. Augustine at night,
whereas they will hereafter arrive in the