The times. [volume] (Richmond, Va.) 1890-1903, 1893-04-21
TREASURY STATEMENT.
SECRETARY CARLISLE ON THE
FINANCIAL SITUATION.
Arrangements Now la Progress, He says
by which More Gold Is to be Pro-
cured From the west.

WASHINGTON. April 2o.-SecretarS
Carlisle tonight made the following
statement regarding the financial situa-
ton:
.'In the exercise OF the discretionary
newer conferred upon the Secretary OF
the Treasury. by the act OF July IL, ls9o.
he has been paying gold for the coin
treasury notes issued for the purchase
of silver bullion. and he will continue to
do so as long as he has gold lawfully
available for that purpose. Under this
nrocess the Governmt has been, and ID
now. paying gold for silver bullion and
storing the silver In its vaults where IL
js as useless for any purpose of circuia-
tion or redemption as iron. lead or any
other commodity The Government In
the first place. issues coin treasury
note i'm payment for silver bullion, ana
then the coin treasury note Is presented
at the sub-tfeasury and the goiu is
pald out for IT, so the effect Is precisely
the same as II the gold were paid Directly
for the silver in the first instance. About
$500 900 of the gold which was Withdrawn
from the sub treasury on last Tuesday
for shipment abroad was paid OUT on
these com treasury Hol'Ss iNo os'NA
been made to stop the payment OF gold
upon these notes, nor has any one been
authorized to say that such an order
would be Issued. The purpose or the
Government to preserve its own credit
unimpaired and maintain the parity or
the two metals by all lawful means VIII
not be abandoned under any circum-
stances. In view Of the existing legis-
lation the only question for consideration
is as to the measures that ought 10 pe
adopted to insure the accomplishment
| of these purposes, and upon this ques-
| tion there Is, OF course, room for VIDE
| difference Of opinion. The total stock or
| gold coin and gold bullion now In this
country. including what is held by the
treasury as we'll as what Is held by the
| banks and individuals, amounts TO about
$74O 900, ono.
"Wben | came into the Treasury Depart
ment on the 7th day of March the amount
OF free gold on hand had been reduced
10 s9S7 900, but by arrangements WITH
Western banks 1t was increased until on
| the lst of April Il amounted 10 nearly
s.. 600 900. Then heavy shipments began
TO be made. and two days ago we had
only about $4,000, but now 1t amounts to
SSs5. 900 after deducting what has been
withdrawn from the subTreasury to-day
for shipment. Arrangements are now In
progress by which more gold Is to be
procured from the West, and | hope that
a sufficient quantity will be secured to
keep the gold reserve intact.
There is gold enough in the country
to meet all the requirements OF the
situation, and If all who are really IN
terested in maintaining sound ana
stable currency would assist the Secre-
tary Of the Treasury to the extent or their
abilities, the existing difficulties would
soon be removed"
In addition TO this statement Secretary
Carlisle said that 100000 in gold had been
taken out OF the subTreasury In New
York to-day for export The class OF
money paid into the sub-Treasury for this
gold withdrawal included $4,000 In gold
certificates, which TO that amount. did
not reduce the gold reserve because they
themselves were practically gold. So the
actual gold reduction of the day was only
$40o, ,OO0 leaving the balance as stated
above.
This is the first considerable amount
of gold export for many years. and en-
courages Treasury officials to hope that
the banks, seeing the situation, VIII con-
tinue to present gold certificates In part
payment at least for gold Withdrawn FOL
| export.