The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-04-21
GOLD COIN AND BULLION.
An Official Statement by Secretary
Carlisle as TO the Financial
Situation.
ls Plenty OF Gold Coin in the
Country for All Require
ments.
Taken Out-The West Expected
70 Help Out.

WAsHIanroN, April 2O.--secretary Car.
isle Tonight made the following statement
regarding the financial situation: On the
exercise OF discretionary power conferred
upon the secretary Of tho treasury by the
aot Of July "A. 1890, he has bssn paying gold
coin for treasury notes issued for the pur
chase Of silver bullion, and hs will continue
to do 80 as long % he has gold legally
available for the purpose. Under this pro-
cess the government has been and now ia
paying gold for silver bullion aud storing
silver In the vaults. where it 10 40 useless
Tor any purpose OF circulation or redemp-
ton a. iron, lead or any other commodity
OF ths government. In the first place is-
sues Of coin In treasury notes are made In
paying for silver bullion, and then the
coin treasury note IL presented at the sub
treasury and gold paid out for II; 60 the
effect IL precisely the same az il gold were
paid ont directly for silver in tho first in
stance.
About $500, 600 of the gold which was
Withdrawn from the sub treasury last Tuea.
day 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 any one been
authorized to say that such order would be
issued. Tho 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 abandoned un-
der any circumstances.
In view Of the existing legislation the
only question for consideration IL as 20 the
measure that ought to be adopted 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 az what is held by banks
and individuals, amounts to about S74O.-
OOO0 IN. .s
When tsame into the treasury derart-
ment MaFen z; the amount of free gold on
hand had been redrcsd to $987. 900, but by
arraneeE,Slts M With western banks il has in
rreasaii GIs1t.. Aprn 1, UT amounted to reariy
*oUoo.00o. Then heavy shipments began
to be made and two dnys ago we had only
about QUO. but now it amounts to $780,
Ooo, after deductinR what was withdrawn
from the sub-treasury to-day for ship
ment. Arrangements are now in progress
by which more gold is to be procured from
the west and hope q sufficient quantity
Will be secured to keep the gold reserve in
tact. There is gold enough in the county
to meet all requirements of the situation,
ana II all who are really interested in
maintaining a sound and stable currency
would assist the sectetary OF the treasury to
tho extent of their abilities the existing diff
hcultles would soon be removed
In addition to this statement Secretary
Carlisle said $S00.000 in gold was taken out
OF the sub-treasury in New York to-day for
export. The GLASS of money paid into the
sub,treasury for the gold withd avn in
oluded 100000 in gold certificates. which.
to that amount. did not reduce the gold re-
serve, because they themselves are practl-
cally gold. go the actual gold reduction Of
the day was only 100000, leaving the bal
ance as stated above. This is the frat con-
siderable amount of gold certificates paid
into the sub-treaspry for gold for export
for many years and encourages the treasury
officials to hone the banks. seeing the sitra-
tion. will continue to present gold ce tiff
oates IN payment at lecst for gold with
drawn for export.