Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-04-25

Secretary Carlisle and the President
Mr. CumslE acts Of course under the
law IN whatever he does TO MAINTAIN the
paritv of gold and silver and uphold the
credit Of tho government. The Washing
,on posi has timely article on this sub
iect. Ii says that last July the JUDICIARY
Committee of the House OF Representa-
tives made "A report touching these mat
tors. II quotes from the third section o.
the resumption act the following para
graph; ,---
And on and aftcr the lst day Of January
1870. the Secretary Of the Treasury shal t'-
doom in coin the United states legai-'en 'oi
notes then outstanding on their pGesenla' -
for redemption at tho once oil the ASSISTANT
,r,e,.,.ro n the United States, IN tho city Of New
Yo-k. ia sums OF not less than sou ana 70 en"'
,t.,no scrret,rv Of the Treasury 20 prepare
ana provide for the redemption IN this act au-
,,.r',el or required. he is authorized 70 use any
s,~,lys revenues from time 10 time In the Irea-
80 no. otherwise appropriated, and 70 ISSUE
oou. and dispose Of Al not less thnn par IN CON
e,,her Of tho description Of bonds described III
tot Congress approved july H. lS|O''
Tho committee quoted from section II
of the act TO enable national banking a.
eociations TO extend then corporate eAls'-
cncc the following provso;
"PfoviieI tuat the Secretary OF inc lI'a'
snrv slau suspend the issue OF such sold Ger
tie-atos whenever the amount OF god com anu
go,i bullion In the Treasury reserved Tor inc re-
s,mp-ion Of United States notes falls peio"
SlCo,Co0,oo0.'
The committee then commented as fol-
lows ....
..1.bcro is no limitation upon the authority OF
TIE Secretary ~ tho Treasury 20 sol hohaS loi
tho purposes Of redemption under the ACT OF
1e-o plt the proceeds derived from such sales
c.oDot b. used for Other than redemption pui'
poses ......,..
THO committee further said THAT II was the
mention Of Congress TO fix the minimum
afro4u. ~ This reserve fund n slOp'uV''VV"
sold and gold bullion ani 90 maintain IL Ht 'AN'
,p,, IN 20 and iurluling the year 1891 the
total amount o. god certificates issued uuAer
en-. ,-tof f.s. vas siGg,22 100, and tho CONS
mit'ee said:
.r..so rou certificates could not have
ICON lawfully issued unless At the time o. -
,,.,.s Phi, reserve fund Of 3lOo,00O,0J0 gold
,..,an4 cola l!U1n WAS 90 the Treasury"
~tstouerotlcnishiuC OF the reserve fund In
.-..ofo di,plnutiln below the sum OF slOj,-
ana, 400 I'M tho absence Of available surplus
,,..,pe t.v the redemption OF legal tenders the
,.,,,ri,tee said tnat tho sum should be re-
.,o-es from tho c.rrrut coin receipts o. the gov
e~Dfncnt not otherwise appropriated ana "hei
.,.h revenues are transferred % the reserve
,,na ,nov are not subject 10 be used Tor any
othrr purpose.
These are interesting facts last now
What Saws Mr.. CLEVELAND We quote
f-ou statement made by him and pub
nahed IN the northern papers OF yester
day:
The IN .iination or the pert Of the public q
accent newspaper reports concerning the inten
nom Of those charged with the management %
our national finances seems 10 Justify my en-
rbqt., contradiction OF tho statement that th
rotemotion OF any kind Of treasury notes eN
cent Ina gold has at any time been determine
uron or contemplated by the Secretary OF th
Treasury or any o,her member oil the adiniA
,.,r,,,,n. The President and his Cabinet ar
absolutely harmonious IN the determination
c,erci.o every power conferred upon them q
r,,io,aiu, the public crolit. to keep the publ
fst,h. aud 70 preserve the parity between gol
and silver and between all financial obligation
of the government.
on oxcd amount Of silver every month, pro
v,los that the Secretary Of the Treasury In b
discretion, may redeem in either gold or silV'
the treasury notes given in payment OF siNe
rurcbases yet tho declaration of tho pole
q, The government TO maintain the party b'
tween the two metals seems 40 clearly TO reg'
ln,o this discretion as 20 dictate their redemr
ton In gold
"Of course. perpiezlties aud difficulties hay
rrovn out Of an unfortunate financial poi'
witch We found IN vogue, and embarrassment
have arisen from ill-aGvised financial iegislauo
confronting US at every turn, but with cheerH
confidence among the people and patriotic oil
position TO cooperate threatened dangers wi
be avelled pending legislative return 10 a DC
ter and souuder financial plan.
The strong credit Of the country, still unin
paired. and the good sense OF oar people whic
has never failed In time OF need, are at hand
save US from disaster