The Providence news. (Providence [R.I.]) 1891-1906, 1893-04-20
THE QUESTION Of GOLD.
Secretary Carlisle Encouraged by Re-
cent Favorable Symptoms.
THE VIEWS OF Mr.. M'MILLAN.
A Radical Reduction or the Tariff 10 Now
Anticipated-The President Criticises
the Reciprocity Treaties-Other News
from WASN'T ngton.

WAsHINGToN, April 20.-"The free gold
In the treasury Is 81, l76, 900" said Secretary
Carlisle yesterday, when asked by the
American Press representative as to the
condition OF the treasury. This is an in
crease of more than $500, 900 since Tuesday
and indicates the treasury as recuperating
better than has been generally known, for
the amount is not fully reflected in the
departments books at this time. The
secretary would not indicate what he pur-
posed to do in case the gold exports
should consume all his free gold and leave
the gold supply in the treasury In even
worse condition than at present. He said:
II am not proclaiming what my policy
will be until the issue squarely presents
itself am disposed to wait and meet the
emergency when IL arises"
1t Is fairly evident that the secretary is
encouraged by more favorable symptoms
the past few days, and has hopes that the
scare is over. IL is hoped at the treasury
department that the gold situation has
again passed through another acute stage,
and that at least, temporarily, there will
be after this week cessation of foreign
gold demands
The increase Of free gold yesterday was
partly secured from Philadelphia and was
further swelled by
Assistance From the West.
II Is the aim Of the department to accu-
mulate sufficient gold before Saturday, to
meet exports on that day out of the free
gold balance and thus postpone the deci-
sion Of the question of a change Of policy.
The department says that sub-treasurers
have not yet been ordered to cease pay
meLt of silver notes In gold, and that
nothing of this sort was to be done in ad-
vance of actual emergency; but there Is
reason to believe that steps of this sort
have been determined on and, perhaps,
initiated, though it is yet in an informal
stage. An abstract of reports made to tho
comptroller Of the currency, showing the
Condition OF the National Banks
at the close of business on Monday, March
6, shows that at that time the resources
Of all the national banks included 500 S37,.
235 in gold coin, 900, 19s, 100 in gold treasury
certificates and 81, $3.50, 600 in gold clearing
house certificates.
Representative Mcmillan of Tennessee,
one of the leaders on the ways and means
committee, when asked yesterday about
stopping gold payments on silver notes,
said:
1.-The secretary of the treasury has per-
feet right to use his discretion whether he
shall redeem the treasury notes in gold OF
silver. The law provides that they shall
be redeemed in coin, and, as a matter Of
convenience to some people, they have
heretofore been redeemed in gold coin, but
IL it does not suit the convenience Of the
government to pay In gold then
Silver should he Used.
have noticed that these threatened
panics come periodically, and think they
are attempts to force the sale Of bonds
think that the government should go into
debt only as a last resource"
'Do you look for a radical reduction of
the tariff by the next congressi" was
asked.
II do; the people will not be satisfied with
anything else, and il Is bound to come. My
idea is to arrange the tariff to suit the
needs of the people and to grade the in
come of the government with the internal
revenue receipts"