The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-04-22
CARLISLE FIGHTING FOR GOLD.
The 900 Gold Re.
serve Broken Into at Last.
over SIX Millions of Gold Engaged for
Shipment To-day-The Reserve De-
pleted to the Extent of Over Two md
one-half Millions-rho Redemption of
Treasury Notes of 1890 In Gold Criti.
CIZed.

WASHINGTON, April 21.-At the Cabi.
net meeting this morning, at which all
the members Of the Cabinet were pres
emit with the exception of Herbert, OF the
Navy Department. the financial situa.
ton, it is understood, was the most ex-
elusive topic OF discussion Tho meet
ing lasted for two hours and a half and
was the longest session of the Cabinet
since the new administration came into
power. When the Treasury Depart.
ment closed its doors this afternoon
tho gold reserve of 500, 900, 900 had
been invaded to the extent OF So, 500, 900
to 100000
When the day opened there was in the
Treasury S1S5,Oo0 of free gold. This
amount was increased by gold offers
from the Wesi aggregating about ST.
from New York, amounting to more
than S5,000,0 600 cut this down to such an
extent that when the Cabinet met Sec
rotary Carlisle found that orders for
gold up to that time (about o'clock)
had wiped out the free go d and invaded
the gold reserve to the extent OF So, $751;
600. AS far as 1t can be officially nscer.
tanned this is the amount taken out OF
the gold reserve to day for export to-
morrow, although tits unofficially stated
that $500, 600 in gold, exclusive OF that
taken out at New York, had been with.
drawn from the sub treas Try at Boston
for export to Canada. II so. this would
make about SO, 900 600 in gold taken out
of the country for shipment to- morrow,
and leave the gold reserve invaded to
the extent of 81 .OOo, 600, or the total
gold in Treasury at SOC, 100000 1t is
believed that this invasion is but tenn
porary and that within few DAYS tt q
depleted reserve will be restored to it's
original fgure-S10O, 900, OOO
While nothing official in the shape OF
an order can be obtained here as TO the
decision OF the Treasury Department in
regard TO the payment in gold OF
Treasury notes OF 1890, the fact that
these notes are baing paid in gold upon
presentation, proves conclusively that
they will he redeemed as heretofore.
The construct ton placed upon Secretary
Carlisle's statement given to tbs press
last night was that when he reached
the limit of the gold reserve no would
exercise his discretion and pay this
class OF notes, when presented for re-
demption, in silver. To this extent
only are the occurrences OF to day a
surprise.
1t is the opinion OF some Of the mos t
conservative financiers in Treasury
circles that this action of the govern
ment in continuing to pay the notes of
1890 in gold must inevitably lead in the
near future to bond issue as the rate
of exchange, which is today 90 to
4.90}S, is the highest that it has been
for eight years. and would OF itself,
were there no eXtraneous causes, lead
to large export of gold simply for
commercial purposes. 1t is calculated
that gold shippers, at the present rate
OF exchange, make five cents on evsrv
twenty dollars of gold exported and
with the balance of trade largely against
us and likely to continue so, the rate Of
exchange will also probably remain
high and gold shipments continue for
some time to come or until the balance
of trade changes in ovr favor.
NEW York, April 2l.-Total engage
ments of gold fo- export tomorrow are
SG.155,000 Sub. treasury balances: Coin,
S63,s02, 600; currency, ST., 600