The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-02-12
THE GOLD CRISIS.
United States Treasury Filling
Its Vaults From Banks
NO cEssArloN IN EXPORTS.
senator Sherman's Anondmeat q
Bridge finaneial DImculsy-What
New Yorh Bankers Ihink 81 Il.

WARRINGTON CIrY, Feb. flowing to
the heavy shipments Of gold for two weeks
past the treasury department., within the
fast ten days. has increased its gold by
s., COO, making the total amount of
gold in the vaults today Sill. 81. 679. or
I'll, 927 ,679 free gold. Since February tho
receipts from the customs duties at New
York have aggregated a. So, 39l, against
N,SN, AS for the corresponding period last
February.
WASHINGTON CIrY, Feb. 1.-The amend
ment which Senator Sherman gave notice
today he should offer upon some general
appropriation bill for the purpose Of
enabling the secretary Of the treasury to
carry out the specie resumption act Of
January IA, 1875. provides:
The secretary Of the treasury shall be author.
ICED Ut his discretion to issue and dispose Of
ct not less than par in coin. either the descrip-
ton OF bonds authorised in said act or . bond
OF the United States bearing not more than 8
per cent interest, payable semi-aunually, and
rodeemable ct the pleasure Of the United States
after I'VE years from date, with like qualities,
privileges and exemptions - those provided
for In said act for bonds therein authorized, to
provided In said act
=
not volunteer further aid to the treasury
and will do 30 reluctantly even on request.
Many banks which have thus far contrib
uted to aid concur in the principle laid
down BY the banks which held aloof. The
latter say they will turn the gold into the
sub-treasury as members of the clearing
house. but not a. individuals. They hold
that the clearing house should act as .
whole and that assessments should be
levied on banks on the basis of their gold
holdings. It was generally understood
today that conference of bankers would
be held on the arrival here Of Secretary
Foster this evening, and Comptrol-
lor Hepburn, who was in Wall
street during the day, il thought
to have arranged for the attendance Of
several bank presidents. The So, 1000
gold taken for export yesterday was paid
for wholly in treasury notes or United
States notes, no gold certificates being
rendered. The sub-treasury report in this
city this morning showed So, l29,821 in
gold coin. Assistant Treasurer Roberts
said that 81 100000 more had been
received this morning by trans
fers, no receipts from banks being
recorded. Inquiry among important
shippers this morning showed an expecta-
ton of normal continuance of shipments
on their part. The statements circulated
today that foreign bankers most prominent
in the gold export movement had an
nounced that they would hereafter sell
bills only to mercantile customers and
refuse to accommodate the demand from
bankers, attracted much attention. In
quiry, however, developed the fact that
these reports had no foundation.
6. G. Williams, president of tho clearing
house, said today he had no doubt that
shipments of gold would continue. He
added:
Advances from the banks have about reached
the limit There may be Aid forthcoming from
banks which thus far have not lent any assist
ance, but the banks which have turned gold
into the sub-treasury will not, think, b dis.
posed to do much more in this direction. hope
that Secretary Foster will prepare to take i'm
mediate action. He should, think, meet the
situation face to face ana issue bonds. There 10
no other way of maintaining the parity Of the
two metals. In NO event must we b placed on
silver basiA
The steamship La Bretagne, which
sailed today, carries So. $50 coo in American
gold coin. of which s., 10000 was with
drawn from the sub-treasury. The total
gold exports for 1893 to date are SIS, $50, 900.
The steamship Servia. also sailing today,
carried $50. 900 ounces of silver and los, 600
Mexican dollars. The total shipment Of
silver for 1898 to date amounts to 2,l62, 600
ounces and 8Q0, 900 Mexican dollars.
NEW York. Feb. 1l-Secretary of the
Treasury Charles Foster in an interview
tonight regarding the financial situation
said: 81 don't think tho situation
critical enough to warrant bonds. The
banks in New York today have SEX, O00, 900
worth of gold, and they are ready at any
time to give it up in exchange for green
backs.