Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-06-04
VERY SHORT OF GOLD
Less Than Ninety Millions Of the
Gold Reserve.
~ a-sss or san<,s Wsu Sss ss<lp ~
nas&ssv s.<l ns-ssucs6sa ss P~basc
Cosndrses = Bsnrsa

Wssstvsros. Juos 3--As no period
ssnes specie rsynsnts we're resumed on
Jasusry !. is7o. has the net gold Ia the
ts~>sury et the United States bee1 10
h,w - is n to-day The snouns h go
2.f7- On January l. iss9. n was
ofttla0SEsn Secretary Sherman. IN
report made in isss. stated that be had
on January I. coin % the amount oe
eltf. So tfu sssilshle fosshe resumption
II specie payments Of this amount
ttitooofs0 was In gold. the balance In
silver. and both were derominated coin.
since that period the net gold in the
treasury has gradually increased until
In Mach. isss. II reached se'a.,
$4,000. which Vas high water mark
since that time IL has f'uetuated. but at
no time siace then has 10 reached 500
cGe1 Since January fss9 the net
goid hoidsogs ~ the treasury hsvr been
cn the dee'ining srs'e. decreasing from
si-iep1so IN January l,s9 10 kiT7to0
CO. Ia January lSse sfii oo0.Ote ia Jan
usrs ISsi eila0snsn IN January lsq2.
tlf>osoeo IA Jsnhary i-sss
While 80 unessin-.s - felt at ths
treasury department. hscause % the COZ
tlnu@.i Io-s ~ gold from the treasury.
still Secretary Carilsl- - not unmindful
n be fact that limit may - reached
ehere tle epnti-oce reno-ei In the
treasury hy The people may b. shaken.
Cs~ser Against . Honi I-sw~.
HoN b. repief~ the treasury with gold
has been > problem seriously considered
~ fh- atr.ini4trafi0n Cor some time.
The i-sur q bon Il - the usual remedy
saggesfed but !. - known that the
president u not in favor ~ this sltefna
tive. except a. fhe last resource. and
even n they are issued treasury officials
sse nst by any means confident that
rne treasury gold rep'eted in this way
VII hong continue ~. II - the
doubt perhaps. more than any other
that prevents the administration from
seriously considering AZ this time bond
issue and ~ - certain that every other
svsiiahle means will be rssortsi 70 Re
fore tsis latter means 10 adopted. It 10
co1tentcd that 10 obtain gold in THE
Nay. With the present laws in force sim
ply means the government borrowing
god al interest for the purchase cf sill
vef. with no assurance that the gold 81
obtained viii remain In the treaenry
longer than the time necessary to take
it ont
Suggestion has been made that the
secretary cf the treasury has the power
to issue grsentsrks in exchange for
gott thus Increasing the amount Of gold
arf .ncre3 7.Gg toe volume ~ green
taets outstanding " the exsens ~ the
gold thus exchanged Secretary Car
lisle being out of the city today hs
vieHs On this subject could not be- oh
tanned sctirg Secretary Hamlin said
he has heard the suggestion and hoped
it vas ~. but his manner indicated that
bis hope vas very faint.
This u Different
Other treasury officials were ques
tiar~f % the subject. and they said
thai The i3ea vas not a new one and had
l-en advanced az different periods 10
the pss- zen wears. No law on the sta.
tote bsrpks was more stringent than that
relating tn gr>enbacks It provided
that s3t5UCcoo Of greentacks
stouid te kept in circulation.
When sach notes ars presented
~ redemption new notes ~ like
euounf had o 20 isSned The secfe
tarf hss a. discretion either % increase
or ~ aimiaisa lie volume % greenbacks
Ssct.cn No. 1soo q the revised statutes
provides ttaf The secretary Of the treas.
ury rlsy sxrharre any class 81 money
Tor co'n. and out q this law i, 10 pre-
saiassi that the story started that ths
secretary - tfc treasury had discovered
= statute vhirh permitted him a.
is~sse gfrenhacks IN exchange for
oslf Ihis statute gives him
tae poser Nhich has never been ques.
tio1et o exchanges greenhacks. treas.
u~v natcs United States notes. silver
ecFflhesie~ gold cer,ifigates. SILVER coin.
siis,r bui.on and g1id bullion for gold
rSan "a goid bullion 30 his discretion.
ta' there - deri1lsl difference ts.
tween TIE eexrhsnRc" Z one class e
rloney o. gsid snd the issue "a c,ass
q none4 20 exchangs fur gnld