The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-04-21
GIVING GOLDFORSILVER
CARLISLE EXPLAINS TIE TREAS
URY SITUATION.

No Order Yet Issued to Stop the IN
fair Exchange Made Possible by
the Present Provisions of the Law.
Carlisle's Purpose to Maintain the
Governments Credit Unimpaired.
WASHINGTON, April 20.-Secretary Car
Isle Tonight made the following statement
regarding the financial situation In the
exercise Of the discretionary power cons
ferred upon the Secretary of the Treasury
by the act Of July IA, 1890, he has been pay
ing gold for the coin treasury notes issued
for the purchase of silver bullion, ard be
will continue to do 80 as long as he has gold
lawfully available for that purpose. Under
this provision the government has been and
is now paying gold for silver bullion and
storing silver in its vaults, where it is as
useless for any purpose of circulation OF re-
demption as iron, lead, or any other COM
modify. The government in the first place
issues the coin treasury note in payment for
silver bullion, ana then the coin treasury
note Is presented at the sub
treasury and gold is paid out for
it; so that the fact is precisely the same as
a. hNAA "SAo l'tAAO ulAeSt1y lOE bIV6E IN Gle
hrSG Instance. About $500, ,0U0 of gold .
which wss withdrawn from the sub-treas-
ury on last Tuesday for shipment abroad,
was paid out on these coin treasury notes
No order has been made to stop the paw
ment Of gold upon these notes, nor has any
one been authorized to say that such an
order would be issued. The purpose of the
government is to preserve its own credit
unlmpaired and maintain the parity Of the
two metals by all lawful means, and i6 will
not be abandoned under any circumstances.
In view of the existing legislation, the only
question for consideration is as TO the meas
ures that ought to be adopted to insure the
accomplishment Of these purposes, and
upon this question there is, of
course, room for wide differ
euces Of opinion The total stock
OF gold coin and gold bullion now in this
country, including what is held by the
treasury, as well as what ia held by banks
and individuals, amounts to about $740, ,O00,-
0C0.
THE FREE GOLD.
when l came into the treasury depart
mems on March the amount of free gold on
hand had been reduced 60 $9S7 900, bus by
arrangements with western banks
it was increased until on April l it
amounted to nearly SS, 100000. Then heavy
shipments began to be made, and twoadavs
amounts TO 1855, 600, after deducting what
has been withdrawn from the sub-treasury
to-day for shipment. ARRANGEMENTS are
now in progress by which more gold is to
be procured from Jhe west, and l hope that
sufficient quantity will be secured to
keep keep the gojd gold oro,g reserve intact.
country to meet all the requirements of the
situation, and if oil who are really inter
ested in maintaining a sound and stable
currency would assist the Secretary of the
Treasury to the extent of their abilities the
existing difficulties would soon be re-
moved"
In addition TO this statement, Secretary
Carlisle said that $500, 900 in gold had heen
taken out of the sub-treasury in New York
to-day for export. The class of money paid
into the sub-treasury for this gold
withdrawal included 100000 in gold
certificates, which to that amount did
not reduce the gold reserve, because they
themselves were practically gold. So the
actual gold reduction of the DAY was only
S4@0, 600. leaving the balance as stated
above. This is the first considerable amount
of gold certificates paid into the sub-treas-
urY for gold export for many years and en-
oourages the treasury officials to hope that
the banks seeing the situation, will CON.
tinue TO present gold certificates in part
payment at least for the gold withdrawn
Tor export.
s3,450, 600 GOING OUT.
NEW YORK. April 2O.-Tha Now York
city banks were notified to-iay by the firms
mentioned below that the following amounts
Of gold would be Withdrawn tomorrow for
export to Europe Lazard Freres, So. 5O0,-
600; Heidelbach, Ickelheirner & Co., $780,
000 and Ladenberg, Fhalman q Co., $780,
900.
In addition the Canadian Bank Of Gem
merce will ship $500, 900 to Canada.