The Camden chronicle. (Camden, Tenn.) 1890-current, 1893-04-28

~
{ necessary. He will protect the
,redit Of the country, maintain the
parity Of the coinage and will not
De bulldozed by Wall street. In
fact, as stated in these dispatches
last night, it can be said that the
partnership long existing between
Wall street and the Treasury De-
has been dissolved. The
Treasury Department will go it
alone and so will Wall street
The Harrison administration did
its level best to put the Treasury in
such a condition that it would be
absolutely necessary for the new
administration to issue bonds in or
der to maintain the credit of the
Government and keep gold from
going to a premium, but the cool
courage, great common sense and
thorough knowledge Of finance and
business Of Mr.. Carlisle have de-
feated the conspirators, and 1t is
safe to say that within week or 10
days at most matters financial will
reach their normal condition and
there will be no scare.
1t is stated on frst-class author
ity that Mr.. Carlisle told the Wall
street spectators that they could
go to work and ruin themselves il
they felt SO disposed, bat that the
great mass Of the American people
would never hear Of the wreck, ,.an6
if they did it would be with a GER
tain degree Of satisfaction.
Wall street has struck the mos
stubborn customer that it ever haC
to deal with in the Treasury De
partment in John G.. Carlisle. Ill
has been Studying the methods 0
Wall street for a number Of years
and he can meet their sharpest me-
at every point in the game.
The Cabinet meeting Thursda
of last week was devoted to som
extent to consideration of the finar
cial situation. Under the silver az
of 1890 the Government is con
PEELED to purchase each M ont
4,500,0 ounces Of silver and at til
same time issue notes for the bul
? ion received. There is at presel
outstanding Of these notes Sl3C
! 100000, and they are being COZ
E stantly redeemed in gold at the Ne
! York subtreasury, The REDEEM
!, ton in gold Of these notes has bee
2 a matter Of accommodation on Il
part Of the Treasury Departmer
:, The second section Of the silver a
: : reads as follows:
SrcT1oN 2. That the treasury moi
- issued in accordance with the proyisic
of this act shall be redeemable on dema
II in coin at the Treasury of the Unit
g. States, or at the Office Of any Assists
K. Treasurer ofthe United States, and wi
"a so redeemed may be re-issued, but
greater OF lesser amount Of such no
~ shall be obtained at any time than
to cost of silver bullion and the stands
q silver dollars coined therefrom then h
+ in the Treasury purchased by such no'
and such treasury notes shall be a lie
tender in payment Of all debts, pul
~ and private, except where otherwise
re- pressly stipulated in She contract,
ng shall be receivable for customs, ia,
nts and oil public dues, and when so rec
Tor ed may be re-issued, and such no
=, when held by any national banking
sociation. may be counted as a par
fiu- its lawful reserve. Upon demand
the the holder of any treasury notes he
provided for the Secretary Of the II
Mr.. ury SHALL under such regulations al
af; may prescribe, redeem such note
gold OF silver coin at his discretio
,i"o being the established policy ofthe Ur
nat States to maintain the two metals
has parity with each other upon the pre-
bill legal ratio or such ratio as may be
,old vided by law.
ned If the Secretary determine
II