The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-29

Numerous Offers TO Exchange Goid-nTore os
the Coin i'm West than I'm the East
Special 10 the Indianapolis Journal
WASHINGTON. April 2a.-It has been gen.
orally supposed that New York-the city
and State combined-possessed nearly all
the gold in the country and that il could.
if Ii would. rescue the government from
the destructive drain ppon its gold reserve
A statement was prepared az the Office of
the Controller of the Currency to-day from
which it was seen that the West has more
gold than the East and that the talk of the
New York bankers has been chiefly "bluff.D
New York banks now hold bus s12 4Ss.-
652, while Chicago banks alone
hold s14. eco. The gold now IN
Eastern cities aggregates So. All. ia
and in Eastern States outside of cities,
s16.7Os.559. Western cities have s27. CO.. 800
and Western States IS. .0O2. Indiana
now holds gold ssgregating &. .s2s, $50.
which is more than Illinois. outsi de Of
Chicago, and nearly az much as Ohio
possesses. Offers of gold in exchange for
legsl-tender notes are still being received
at the Treasury Department. quite o num-
Der having come In o-day. In no single
case IS the amount large. but the aggregate
IQOut3uQ4.
Reports from New York indicate thas very
little. IL any. gold will 60 ont tomorrow,
and this fact. taken in connection with she
low rate OF exchange. was accepted by the
treasury officials as "a most encouraging
fact. ana an indication that II the gold tide
has not actually turned in our favor liz has
been stemmed for the present.
A plan for suspendine the sugar bounty.
without waiting Tor the slow action Of
Congress. has been suggested 20 Presidents
Cleveland ho
plan consists in q simple order from the
Secretary of the Treasury 70 his subordi-
mates TO draw no more warrants and make
no pay ments on account OF sugar oounties.
Such action in q single test case would be
sufficient TO carry the matter TO the courts
and secure q decision from the Supreme
Court of the United States upon the naked
question whether the payment of Rratuities
to private individuals out OF the money re-
ceived by taxation upon the people was
within the power of Congress under the
Constitution. President Cleveland has
not yet considered the subject carefully.
but he will probably ask Attorney general
OlDey for an opinion as 60 whether the
bounties are constitutional. and whether IL
Is within the power of the executive To test
the question by refusing payment
New York Bankers 's.assed.
New YORK. April 2s-Great satisfaction
was expressed in financial circles this
morning at the result of the conference
yesterday evening between New York
bankers and Mr. Carlisle. and Wall street.
quickly showed that it appreciated the
clear and explicit statement made to the
bankers. Although no action was taken
at the conference. it established uumis-
takably. In the minds Of the bankers
present. as ell admitted this morning.
that the governments was determined 10
maintain the parity between gold and sill
yer: that the Secretary thoroughly under
stood the situation. and that the stories
that there was friction between the Secre-
tary and bankers of New York were abso-
luteiy without foundation. 1twas learned
on good authority that Secretary Carlisle
was assured by the New York bank pres
idents OF their willingness TO come
10 the assistance of the govern
ment whenever. IN his opinion. more
gold was needed bv- the treasury. The
terms on which the gold ls 20 Be furnished
are ieft open, It was also agreed by all
present that nneasiness based upon the an
trenchment upon the Ss00.0Q0,ooo gold re-
serve tund was only sentimental and that
at this time there was no uoQo9sity for
bond issue or of q cola loan >o1>4 trossqry,
Ahe mseahs Was 4nQgo qog@H - 80