Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-05-28
NOT AGAINST SILVER
is THE TREASURY POLICY OF
SECRETARY CARLISLE.
Reasons Given BY His Closest Newspaper
Friend for The Payment Of Gold When De.
nssded for Treasury Notes

Washington. May 2T.-The Washing.
ton correspondent OF ~ CONVERSATIONAL.
who Is an Intimate friend aud a partisan
Of Secretary Carlisle, thus telcxmphs his
paper:
The secretary Of the treasury is made
the subject Of adverse criticism by the
advocates OF ire, silver because be per-
ndts gold TO be paid at she subirensnry
at New York for treasury notes Those
who are finding fault with the secretary
do not seem to understand that be Is OBJ
liged by sound public policy, "a well as
by the letter Uf the law, 10 pay III eN-
change for treasury notes gold or silver
at the option Of the party presenting the
notes. The criticism that the secretary Of
the treasury is helping 10 degrade aud
dcmonetike silver j. really prepostcrOus
when the facts Ia the ease are considered
from reasonable and Intelligent stand
point. Here is the situation plain aud
simpler
The act Of July 4, 1890. which d.
rccted the secretary OF the treasury 20
purchase 45oO.OpO ounces of silver every
month aud pay for IL by tue issue Of coin
treasury notes. declared Il 10 be "the es-
tabli~hed policy If the United States TO
maintain the Two metals on parity
with each other upon the present legal
ratio, or upon such ratio as mHy be pro.
Yidcd by law IL Is the duty Of the sec
Rotary Of the treasury To maintain this
policy. and il must be- evident 10 every
one that he can not do 80 by forcing the
holders Of government obligations 10 take
gold II they demand silver, or to take
silver II they demand gold. 10 do this
would le tp assert or at least 20 recug'
nike, officially. difference between the
value ni the two metals, for II the secrt-
tIry Insisted upon paying gold and the
holder Of the obligation preferred silver,
or vice versa, It would be- equivalent 10
q declaration that the metal Ia which he
refused 10 pay was regarded by him as OF
greater value than the other. In order,
therefore TO maintain the parity Of the
two metals rs required by the dcclnra-
tiuu Of congress, the secretary must treat
the two metals pr acisrly alike, that iS, pay
iu gold If gold u demanded and pay in
silver " silver is demanded. This is
what he has done aud is now doing.
THIS is not u discrimination against
silver. any more than IL Is discrimi-
nation against gold, No one has been
refused silver IL hc demanded IL, or even
II he was willing TO take 1t; In fact. ex-
trnorlinnry efforts have been made by
the government from time to time to
get the standard silver dollars into cir
culatiOn among the people. IL has even
paid all the expenses OF Transportation IN
many instances In order 10 induce tho
banks and others to take silver iu rX-
change for currency, aud IN this way 1t
hus succeeded in putting into circulation
large amounts which otherwise would
have remained In the treasury,
II is not a fact, US appears To be- sup
posed w some quarters, that the stcrr-
tary Of tho treasury has becu paying
silver certificates in gold, or that lac has
redeemed silver dollars IN gold. Tho
silver certificates call specifically for the
payment Of 80 many silver dollars, aud
they are redeemed by the delivery of sil-
YER dollars The old treasury notes, or
prccnbacks, aud the coin treasury uotcs
issued for the purchase OF silver bullion
nndrr the ACT Of July u. 1890. are thu
obligations upon which the government
pays gold when demanded