The state chronicle., 1893-04-22
Secretary Carlisle Speaks.

Washington Post
Secretary Carlisle last night made
the f llowlng statement regarding
the financial situation:
In the exercise of the discretion
airy power conferred upon the Sec
retary of the Treasury by the act
of July IA, 1890, he has been pay
ing gold for the coin Treasury notes
issued for the purchase OF silver
bullion, and be Will continue to do
so as long as he has gold lawfully
available for that purpose. Under
this process the government has
been, and is now, paying gold for
silver bullion and storing the silver
10 its vaults, where it is as useless
for any purpose of circulation Or
redemption as iron, lead, Or any
other commodity.
"The government, in the first
place, issues coin Treasury note in
payment for silver bullion, and then
the coin Treasury note is presented
at sub treasury and the gold is
paid out for it, 30 that the effect is
precisely the same as if the gold
we're paid directly for the silver in
the first instance. About $S0O,OOO
of the gold which was withdrawn
from the sub-treasury on last Tues
day for shipment abroad was paid
out on these coin Treasury notes
No order has been msoe to stop the
payment of gold upon these notes,
nor has any one been authoriz ed to
say that such an order would be is
sued The purpose of the govern
ment to preserve its own credit un-
impeached and maintain the parity
of the two metals by all lawful
means " i'll not be abandoned under
any circumstances.
In view OF the existing legisla-
ton the only question for consider
alton is az to measures that ought
to be adopted to insure the accom-
plishment of these purposes, and
upon this question there is, o1
course, room fer wide differences O.
opinion, The total stock Of goli
coin and gold bullion nov in this
country, including what is held by
the Treasury as we'll as what is hele
by banks and individuals, amount
to about $740,0O0,0OO. Wnen CAM
i. into the Treasury Department OF
the 7th day of March the amount o
free gold on hand had peen re
duced to 1887 900, but by arrange
ments with Western banks it wa
increased until. on the Let of Apri
it amounted to nearly $3,O00,OOi
Then heavy shipments began to b
made, ard two days ago we had onl
about $4,000, but now it amount
to $6S5,OOO, after deducting wins
has been withdrawn from the sui
treasury today for shipment. A
rapgements are now in progress (
which more gold is to be procure
from the West, and I hope that
sufficient quantity will be secure
to keep the gold reserve intact.
There is gold enough in t!
country to meet all the requir
ments Of the situation, and If
who are really interested in mai
tanning sound and stable curren
would assist the Secretary of t
Treasury to the extent OF th'
abilities the existing difficult
would soon be removed"
In addition to this stateme
Secretary Carlisle said that $50
600 in gold had been taken out
ci, the Sub-treasury in New York y
ter terday for export The class
ns Gss money paid into the sub treasI
for this gold withdrawal includ
100000 in gold certificates, viii
49, to that amount, did not reduce
ing ing gold reserve because they the
1lte ch' selves were practically gold.
els. the actual gold reduction of
day was only 100000, leaving
balance as stated above. This
the first considerable amount
int: ins gold certificates paid into the g
snd end treasury for gold export for mi
that years, and encorages Treasury
''n' cials to hope that the banks, see
the situation, will continue to
sent gold certificates in part
ment at least for gold withdr'
70 It for export.
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