The Dalles daily chronicle. [volume] (The Dalles, Or.) 1890-1948, 1893-04-21
oARL1sLE.s POLICY.
Secretary of the Treasury on the
Financial Situation.

FINANCIAL SlBuaglOns
WASHINGTON, April 2O.-Secretary
Carlisle tonight made the following
statement regarding the financial situa-
ton:
SIN 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 coin treas
ury notes, issued for the purchase of sill
yer bullion, and he will continue to do 30
as long as he has gold legally available
for the purpose. Under this process the
government has been, and now is, pay
ing gold for silver bullion and storing
silver in it's vaults, where it is as useless
for any purpose of circulation or re-
demption as iron, lead, or any other
commodity. The government, in the
first place, issues coin treasury note in
paying for the silver bullion, and then
the coin treasury note is presented at
the treasury and gold paid out for
it; SO that the effect is precisely the
same as if the gold were paid out for the
silver in the first instance. About $780,
900 of the gold which was Withdrawn
from the sub-treasury last Tuesday for
shipment abroad was paid in 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 such an order would be issued.
The purpose of the government to pre-
serve its own credit unimpaired and to
maintain the parity of the two metals
by all lawful means will not be
abandoned under any circumstance.
''In view of the existing legislation,
the only question for consideration is as
to the measures that ought to be adopt
ed to insure the accomplishment of these
purposes, and upon this question there
is, of course, room for wide differences
of opinion. The total stock of gold coin
and gold bullion now in the country,
including what is held by the treasury
as we'll as what is held by the banks and
individuals, amounts to about $740,0o0-
600. When I came into the treasury de-
partment, March Z, the amount of free
gold on hand had been reduced to 1887,
600, but by arrangements with Western
banks it was increased until April 1st it
amounted to $9,o0O,000. Then heavy
shipments began to be made, and two
days ago we had only about $40 1000, but
now it amounts to 1885, 900, after deduct
ing what has been withdrawn from the
sub-treasury today for shipment. Ar
rangements are now in progress by which
more gold is to be procured from the
, west, and 1 hope a sufficient quantity
, will be secured to keep the gold reserve
intact. There is gold enough in the
, country to meet all the requirements o.
, the situation, and if all who are really
interested in maintaing a sound and
stable currency would assist the secre
tary of the treasury to the extent of theil
, abilities, the existing difficulties would
soon be removed"
In addition to this statement, Secre
, tary Carlisle said 100000 in gold wal
taken out of the sub-treasury in New
, York today for export. The class o
/ money paid into the sub-treasury fol
t the gold withdrawal included $400, 900 il
gold certificates, which to that amour
r did not reduce the gold reserve, becaust
they themselves are practically gold, 81
that the actual gold reduction today wa
: about 100000, leaving a balance a
} stated above. This is the first consider
l able amount of gold certificates paid in
to the sub treasury for gold export TO
: many years encourages the treasury off
g cials to hope the banks seeing the situa
tion will continue to present gold certifi
Gates in payment at least, for the gol'
s withdrawal for export.