The record-union., 1893-04-19
Special to the REcoRD-US1ox.
ne Returning Merchants

Special TO the RECoRD-USIoN.
WASHINGTON, April 1S.-The gold sit
nation to-day was considered to be
easier than it was yesterday. Treasury
officials are more confident than they
were twenty-four hours ago, and in the
minds of all the impression has become
stronger that it may not be necessary for
the Secretary to take any action which
will change the present policy of the
department. This feeling is said to be
due to the fact that an announcement has
practically been made that the Govern
ment would only as last resource turn
to the issuance of bonds. This firm and
determined position of Carlisle has, they
say, already had beneficial effect and
so soon as it becomes known that the
Secretary of the Treasury has seriously
considered the ACCESSIBILITY of stopping
the payment of gold coin for Treasury
notes issued under the Silver Act of July
IA, 1880, the situation will present a
very different phase, and the shipment of
gold, which was looked upon as a means
for forcing the Administration to issue
bonds, will come to an end.
The Cabinet meeting to-day was de-
voted to some extent to the consideration
OF the financial situation, and it is be-
lieved the Secretary of the Treasury will
be upheld in his advice to stop for the
present the payment in gold of treasury
notes. Under the Silver Act of 1890 there
is at present outstanding S130, 100000 in
notes, and they are being constantly re-
deemed in gold at the New York Sub
treasury. Redemption in gold has been
matter of accommodation on the part of
the Treasury Department, as the law
gives the Secretary of the Treasury dis
erection as to whether they will be re-
deemed in gold or silver. Now that the
gold balance is reduced the Secretary OF
the Treasury is considering the advisa-
blllty of using his discretion and paying
these notes in silver. If the Secretary of
the Treasury determines to take advan-
tage of the discretion given him by the
sllver-purchase law it will be a more
difficult matter for the New York brokers
to obtain gold certificates, and treasury
notes would leave them with less upon
which gold could be obtained
There is feeling among some men
who have been prominent in financial
circles that should Secretary Carlisle
issue an order stopping this redemption
1t would approach to something of a
sensation, but those who are best posted
claim that nothing of the kind would re-
suit, ana still insist that if it became
apparent that Secretary Carlisle was go-
ing to adopt this course New Workers
who have been represented as trying to
push the Government into an embarrass-
ing position would see that their efforts
are in vain, and gold would again begin
to flow into the treasury. If they are
correct in their surmises, it will be I'M
necessary for Carlisle to take any further
action.
The confidence of Treasury officials is
increased by the knowledge that Conrad
NJ. Jordan, the new Sub-Treasurer at
New York, will probably enter upon his
duties tomorrow morning. His ability
is particularly well thought of here, and
with his assistance it is believed that
Secretary Carlisle will successfully meet
the situation.
After the Cabinet meeting a reporter
saw Secretary Carlisle, but he politely de-
clined to discuss the financial situation. a
policy he has held for some time, prefer
ring not to forecast any action until the
necessity for it arrives.
Several small offers of gold have been
received from the West. These offers
aggregate less than 100000 and will not
appear on the Treasury books for several
days. AT Eastern points slight increase
in gold was noted, the free gold having
increased to-day S25, 900, markings total as
shown by the books of the Treasury to-
day of S65, $50. There is said to have been
also slight increase in New York which
will not be shown until tomorrow. In
formation received at the Treasury De-
partment indicates that the gold ship
ments for next Saturday will not be
heavy, and there may be none at all.