The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-04-22
NO MORE FREEGOLDLEFT
THE S1OO,Ooo,oOo SURPLUS CUT
DOWN 10 soe,oOo.ooo.

To-Dsy's Shipments Of Gold $685.
OOO-The financial Situation Dis
Cussed by the Cabinet in the Long
est Session Since the New Regime
Began-A Bond Issue Looked For.
WASHINGTON, April 21.-At a cabinet
meeting this morning, at which all the
members OF the cabinet were present, with
the exception Of Secretaries Herbert
and Smith, the financial situation,
is understood, was almost the exclusive
topic Of discussion. The meeting lasted for
two hours and half and was the longest
session OK the cabinet since the new adminiss
tretion came into power. When the treasury
department closed its doors this afternoon
the gold reserve Of 800 900, 900 had been in.
vaded to the extent Of 81 800. 600 TO So, ,000,-
600. When the day opened there was In the
treasury Sls5, 600 Of free gold. This amount
was increased by gold offers from the west
eggregating about 81 $50, coo. The large
Shipment OF gold from New York. amount-
ing to more than s., 100000, cut this down 20
such an extent that when the cabinet me0
Secretary Carlisle found that the orders for
gold up 20 that time about l o'clock had
wiped out the free gold aud invaded the
sUUls
AS far as it can be officially ascertained this
is the amount taken out OF the gold reserve
tO~day for export Tomorrow, although
it is unotiicialiy stated that $700,00
in gold, exclusive OF that taken out ac New
York, had been withdrawn from the sub
treasury at Boston for export TO Canada. IL
so, this would make about 81, ,00O, 600 in gold
taken out OF the country for shipment to-
morrow and leave the gold reserve invaded
to tho extent Of $4,000, 900, or the total gold
in the treasury at SJG 900, 900. 1t is believed
that this invasion is but temporary
and that within few days the depleted
reserve will be restored to Its original figure,
$l00,C00,00O.
STILL HONoRING COIN NOTES.
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 those notes are being paid
In gold upon presentation proveg
conclusively that they will he redeemed as
heretofore, The construction placed upon
Secretary Carlisle's statement, given to the
press last night, was that when he reached
the limit OF the gold reserve he would ex-l
erciSe mis- discretion and pay this class OF
notes when presented for redemption in
silver. To this extent only are ths oc-
currences OF to-day a surprise. Ir
is the Opiniou Of some Of tho most conserva-
tive finAnciers In the treasury departments
that this action Of the government in cons
tinutng TO pay the notes OF 1890 in gold
must inevitably lead in the near future TO
bond isaue as the rate of exchange, which
is to-day "a 30 TO ~ 90 /, Is tho highest thai
it hos been for eight years and would
of itself, were there no extranoous
Causes, lead 20 large exports
OF gold simply for commercial purposes. Is
| is calculated that the gold shippers at the
present rate of exchange make 5 cents on
every S20 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 balonce Of trade changes in our
favor.
TO-DAY'S EXPORTS.
NEW YoRR, April 2l.-The total engage
ments OF gold for export tomorrow foot
up So, 155, ,O00.