The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-03-11
BONDS WON'T BE ISSUED.
WESTERN BANKS GIVING GOLD TO
THE TREASURY.

The Free Gold on Hand Monday Ex-
pected to Amount to S5,oOo,oOo-A
Belief That the Golden Tide has
Turned in Favor of the Govern msnt.
WASHINGTON, March 10.-Secretary
Carlisle has received offers from Chicago
bankers to exchange SO, 900, 600 Of gold for
like amount OF small treasury notes OF
denominations Of hves, tens and twenties.
lntimations were made that the amount Of
small notes that will be needed will reach
$4,000, ,OOO, for which gold will be paid.
He will forward the small notes at once.
This demand for small notes is explained
by the fact that with the opening Of spring
weather, cattle and grain are beginning to
be moved. A slight demand is also being
felt farther west, and IL is anticipated that
the demand for small notes, for which gold
will be paid, will continue TO increase So
Tar as the treasury department. Is ad vfsed
no gold has been engaged at tho New York
sub-treasury for shipment tomorrow.
Several other offers Of gold for small
treasury notes we're made 10 the Secretary
Of the Treasury this afternoon. Cincinnati
bankers offer Sl,O00O00, OF which $500, 900
was accepted. Other offers in small guam
titles come from bankers in Kentucky, Illi-
nois and Missouri. Treasurer Nebeker was
much pleased with the turn affairs had
taken and declared that sufficient offers OF
gold had been received to absorb all the
small legal tender notes on hand.
CLEVELAND GRATIFIED.
President Cleveland end the cabinet were
relieved and gratfe1 by the report which
Secretary Carlisle wHs able TO make at the
cabinet meeting to-day IA to the treasury
situation, which indicated to them that
there would be no immediate necessity OF
atf har
600 reserve. Secretary Carlisle was able to
report first. that Assistant Treasurer Rob-
erts Of New FORK had telegraphGd to-day
that be did not expect any requests froll
the sub-treasury foT gold for export during
the next week, and second, that gold was
corning into the treasury instead of going
out. OF course Secretary Carlisle
was enabled 10 make the latter statement
by the offers made by the banks, especially
IN the west, such as the one Of 5000, coo res
ceived from Cincinnati and accepted by
him to-day on tho plan adopted as at Denver
Of exchanging small notes for It and leaving
the gold in the depository banks He ex-
poets TO have So 900, 900 Of free gold within
the next ten days, and is disposed TO believe
that the tide has now turned in favor Of the
treasury 80 that the free gold
will increase rather than decrease.
Secretary Carlisle's statement confirmed
the President In his belief that the New
Workers who want IA new issue Of bonds
have been endeavoring 20 force the admin
istration TO make one aud 10 is his purpose
not to do 80 unless the conditions change.
There is no difference Of opinion in the cRbi@
net as to the power of the secretary either
TO issue bonds or to use a portion Of the
500, 900 600 reserve. But there is no ex-
pectation that either course will be taken.
| The cash balance in the treasury shows a
slight improvement, as well as the gold
balance. The latest declared balance is
| $25, ,220, 500, Of which s11 ,454, ,679 IN on de-
posit in national banks, sl1, ,051, 1893 is in
subsidiary silver and 1926, ,057 In minor coin
and fractional pADer