River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1893-04-27
WILL STICK TO GOLD.
President Cleveland Declares Himself or
the Financial situation.


WASHINGTON. April 24.--In an inter-
view concerning the financial situation
President Cleveland said:
"lhe inclination on the pau OF the public %
accept ne sspaper reports concerning The inten-
tions o. those charged with the management
OF our national finances seems 70 JUS
tify my emphatic contradiction 81 the
statement that the redemption OF any
kind OF treasury notes except in gold has ~
any time been determined upon or contem-
plated by the secretary Of the treasury or any
other member of the present adninistra ton.
TIE president AID his cabinet are absolutely
harmonious ia the determination 10 exercise
every power conferred upon them r. maintain
the public credit 10 keep inc uhlie fai'h and 10
preserve the parity between gold and silver and
between all financial obligations OK the govern
meut
while the law Of 1890 forcing the purchase
I of liked amount OF silver every month pro-
vides that the secretary OF the sary. ia
4 his discre ton, may redeem in either gold or
L silver the treasury notes given In pay
/ ment OF silver purchases, yet the deeiara
/ ton Of the policy Of the government 10
maintain The parity between The two metals
seems so clearly to regulate this discretion
4 as to dictate their redemption in gold OF
/ course, perplexities ami difficulties have
grown out Of an unfortunate financial
policy which we found in vogue anu
/ enbarrassmcnts have arisen from iil-advised
turn bnt with cheerful confidence among
/ the people and patriotic disposition % Co
/ operate, threatened danger VIII be averted
| pending a legislative return 10 better and
souuder financial plan. The strong credit Of
| the country, still animpaired, and the good
sense OF our people, which has never failed in
time Of need, are at hard 10 save Us from dis
| aster.'
Comparative quiet reigneG at the
/ treasury department Saturday. and Sec
rotary Carlisle was encouraged by Of
fers Of about $1,000, 600 in gold from
western banks to replenish the re-
serve This raises the reserve to over
500. 900. 900, but it is likely To be
pulled down again this week by adj
ditiopal shipments to Europe The
m thds ' rcce9a crd as xefaa tf g
reach $4,000. 600 This would reduce
the reserve, If no gold were received
during the week. to $90, COOS 900, and the
government could not stand many
weeks of such large exports.
The news that the shipments of Tues
Jay will probably be unusually heavy
/ ,taes not give Mr.. Carlisle any uneasi-
ness as he feels sure that the western
banks will do as handsomely in
emergencies as they did Satur-
day. Moreover it is understood
that Mr.. Carlislc's statement of last
Thursday has been supplemented since
by private correspondence with leading
western bankers who arc known to
control large resources of gold with a
view to have them cooperate with she
treasury.
The administration has already de-
eided against the Wall street men. and
their demand for an issue of bonds has
been answered in the negative. So
long as it is possible for the govern
ment 10 get along without bond
issue, just so long will the present
policy of the treasury department be
adhered to. Should the demand for
gold during the coming week exceed
the amount of free gold in the treasury
there is nothing in the situati IN TO sug-
gest any other policy than That which
was followed under similar circum-
stances on last Friday when the gold
reserve was unfiinchipgly entrenched
upon.
The expenditures so far this month
have been heavy. exceeding tire receipts
by over 81, 000, 600. The receipts have been
So. eco, 600 and expenditures Sa4.GO0,00O.
This has had the effect of reducing the
net cash balance in the treasury, which
to-day is S24. o05 0O0, and of this amount
$4,000. 600 is in subsidiary coin and SILL,
Oo0, 900 is in national bank repositories.