The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-04-21
TO PROTECT THE GOLD RESERVE.
Secretary Carlisle Declares the
Administrations Policy.
All Government Issues VIII BE Kept at a
Far With Gold-The Treasury Able to
Handle the Situation-western Banks
Advancing 100000, 900 of Gold
In the Country.

WASHINGTON, April 2O-Secretary
Carlisle to night made the following
statement regarding the financial situa.
ton: I'm the exercise of the discretion
airy power conferred upon the Secretary
of the Treasury by the act of July IA,
1890, he has b3en paying gold for coin
of silver bullio1, and he will continue
to do 80 as long as he has gold lawfully
available for that purpose. Under this
process the government has been, and Is
now, paying gold for silver bullion and
storing silver in its vaults, where it is
as useless for any purpose Of circulation
or redemption as iron, lead or any other
commodity.
1.-The Government, in the first place,
issues a coin Treasury note in payment
for silver bullion, and then the coin
Treasury note is presented at the sub
treasury and gold is paid out for 1t; so
that the effect is precisely the same as
| IL gold were paid directly for silver in
| the first instance. About SSO0,O0 of
| gold which was withdrawn from the sub
treasury on last Tuesday for shipment
abroad, was paid out on these coin
| Treasury notes.
| mo order has 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 OF the Government to preserve
its own credit unimpaired and maintain
the parity of the two metals by all law
full means will not be abandoned under
any ci,cums arc -. In view OF existing
legisla ton the only question for con-
sideration is as to the measure that
ought to be adopted to insure the &C
complishment Of these purposes, and
| 10 Of
room for wide difference of opinion.
The stock of god coin and gold
bullion now in this country, including
that held by the Treasury as we'll as
what is held by banks and individuals,
amounts to $40. 600 600. When came
into the 1r q ury Department on tho
9TH day of March the amount Of FREQ
gold on hand had been reduced to
S0S7,000. but by arrangements with
Western banks it was increased until
on the lst of April it amounted to nearly
Ss,000,000 Then heavy shipments began
to be made and two days ago we had
only about $40, 900, but now it amounts
to $685. 01, after deducting what has
been withdrawn from the sub treasury
for shipment
Arrangements are now in progress
by which more gold is to be procured
from the West, and hope that suf
the gold reserve intact.
There is gold enough in the country
to meet all the requirements of the
situation, and IL all who are really in
terested in maintaining q sound and
stable currency would assist the Secre-
tary Of the Treasury to the extent of
their abilities, existing difficulties
would soon be removed"
In addition to this statement Secre-
tary Carlisle said that $500, 900 in gold
had been taken cut of the sub. treasury
in New York to-day for export. The
class of money paid into the sub
treasury for this gold withdrawal in
Guided 100000 in gold certificates,
which, to that amount. did not reduce
tho gold reserve because they them
selves were practically gold. So the
actual gold reduction of the day was
only $500, 900, leaving the balance as
stated above.
This is the first considerable amount
OF gold certificates paid into the sub
treasury for gold export for many years,
and ence urages the Treasury officials to
hope that the banks, seeing the situa-
ton, will continue to present gold GER
| title ates in part payment at least for tho
| gold Withdrawn for export.