The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1893-04-25
GARLBLE'S PLAN.
He Makes Public a Statement OF
His Money Policy
Which Directly Opposes That
of the President.

Mr.. Cleveland Favors the Issuance of
Large Amount of Gold Bonds. but tho
Secretary of the Treasury Says Such
Step Is Not Necessity In His Opinion.
What VIII the Outcome Be9
WASHINGTON, April Secretary
Carlisle has made the following state.
ment regarding the financial situation
In the exercise of the discretionary
power conferred upon the secretary of
the treasury by the act of July IA,
1890, he has been paying gold for the
coin treasury notes issun4 for the pur.
chase of silver bullion, and he will con
tinue to do so as long as he has gold
lawfully available for that purpose.
Under this process the government has
bullion, and storing the silver in its
vaults, when 1t is as useless for any
purpose of circulation or redemption as
iron. lead or any other commodity.
1.-The government, in the first place,
issues coin treasury note in payment
for silver bullion, and then the coin
treasury note is presented at the sub
so that the effect is precisely the same
as if the gold was paid directly for the
silver III the first place. About $780,
600 of the gold which was withdrawn
from the sub-treasury on last Tuesday,
for shipment abroad, was paid out on
these coin treasury notes. No order
has been made to stop the payment of
gold upon these notes. nor has anyone
been authorized to say that such an
order would be issued.
The purpose OF the government to
preserve its own credit unimpaired and
maintain the parity of the two metals
by all lawful means will not be aban-
doned under any circumstances.
The total stock of gold coin and
gold bullion now in this country, in
Guiding what is held by the treasury as
well as what is held by the banks and
individuals, amounts to about $40, 00O,-
600. Arrangements are now in progress
by which more gold is to be procured
from the west, and 1 hope that suffi-
cient quantity will be secured to keep
the gold reserve intact. There is gold
enough in the country to meet all the
requirements of the situation, and if all
who are interested in maintaining a
sound and stable currency would assist
the secretary of the treasury to the ex-
tent of their abilities, the existing diff
cultles would soon be removed"
The President Declares Himself.
The statement is made that Mr. Car
Isle and the president are at issue on
the subject of bonds. 1t is reported
the president has declared himself thus:
Il have decided that the treasury de-
partment must issue bonds, and large
amount of them. In my opinion that
step is essential to maintain the gold
reserve, and it is also my opinion that
to encroach upon that reserve would
mean financial disaster"
To this imperative announcement Mr..
Carlisle has invariably replied in effect:
MIR. President, do not believe either
in the necessity of issuing bonds, or
that have the legal authority to do so.
IF you order bonds to be issued, they
must be issued by another secretary of
the treasury
1t leaked out that Assistant Treasurer
Jordan of New York came to Washing
ton to confer with Secretary Carlisle.
He brought with him his bonds for
$500, 900, upon which there are some 20
sureties, it is said. When these bonds
men have been approved, Mr. Jordan
will return to New York and take Office
as assistant treasurer.