The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-04-26

WASHINGTON, April 22.-The gold re-
serve depleted yesterday is intact today,
offers aggregating nearly 81. 100000 having
been received and accepted by the secre-
tary this morning. Secretary Carlisle said
he did not think it justice 10 those who
were disposed TO supply the gov
eminent with gold that their names
should be published and for that reason
alone he did not think it wise TO state
names and places from which the offers
came. He was feeling quite good over
the TACT that offers aggregated a sufficient
amount to make the gold reserve intact
and leave a little free gold in the treasury.
He expressed the hope that it would con-
tinue to increase so that be would be able
TO meet any demand made on the treas
ury for gold for export on next Tuesday.
He stated that the treasury would con-
tinue the policy now being pursued of
paying out gold for the treasury notes and
at an early hour yesterday when it seemed
that the reserve would be encrOached
upon he directed the subtreasury at New
York to continue paying those notes as
heretofore. He was therefore at a loss to
understand how any uncertainty pre-
vailed IN the public mind to the
action OF the treasury department
In the premises. That such uncertainty
still prevails, however, lie evident from the
numerous kilograms being received by
President Cleveland and Secretaries Car
Isle and Lamont and from the further
fact that several prominent New York
bankers are here today for the purpose, if
possible. OF getting a better and clearer
knowledge of the financial situation from
personal interviews with cabinet officers
and treasury officials.
Decrease in Treasury Gold.
1t is interesting 70 note in connection
with the gold situation how during the
past few years the treasury has gradually
lost gold. On Jan. 81, 1889, the net gold
in the treasury was S100.094 900; on Jan,
81, $780, Sl77, 100000; Jan. 81. 1891. SI41,-
100000; Jan. 81. 1892. S11s000,OOO, and
on Jan. 81, 1898, Sos, 900 900.
When tho day closed the treasury de-
partment had to its credit slightly over
100000 free gold Il is expected
that this Will be increased Mon
day, as there is disposition
shown by western bankers to help
thetreasury swell its gold balance Some
banks IN New York, too, are stated to have
turned IN gold for greenbacks. There is
a better feeling, temporarily, at least. and
the fact that no bad result has occurred
by dipping into the greenback gold re-
serve, leads to the belief that none will
occur if it is found necessary to repeat
the proceeding. 1t is anticipated here
that large shipments of gold will be made
next week. In case the shipments are
made there is nothing TO indicate that Sec
rotary Carlisle Will not do as he did yes
tsrday, viz: invade the gold reserve to
meet all demands. The expenditures
so far this month have been heavy,
exceeding the receipts by over $1,000, 600.
This has mad the effect of reducing the
net cash balance In the treasury, which
today is S24, 90j, 000 and of this amount
$4,000, 900 is IN subsidiary coin aud SILL
100000 In national bank repositories.
Exaggerated Stories Circulated.
The exaggerated stories which gained
circulation last night and were widely
published today to the effect that at the
cabinet meeting during the afternoon
President Cleveland and Secretary
Carlisle had had a serious misunder-
standing which might lead TO the
resignation of Mr.. Carlisle are officially
denied by members of the cabinet and of.
fcials of the treasury department. The
rotary Carlisle and the president are as
cordial as they have ever been.
What the future policy of the treasury
may be regarding finances is still a matter
Of conjecture, for q definite course has not
been decided upon. The department will
wait Tor developments, and az the emer-
gencies arise 1t is believed will be fully
able to meet them. The administration
feels confident that the present financial
furry is temporary one, based on an ex-
sggeration of conditions, and they have
no fear that there will be a panic or
that national credit will be impeached.
The most reliable informal as TO the
position of the president aud Mr.. Carlisle
and what occurred st the cabinet meeting
Yesterday is that there existed between
them simply a difference of Judgment az
10 which policy was the better one to be
followed. Secretary Carlisle believed
that the law justified him stop
ping the payment of gold for
the treasury notes of 1890, and considered
it best to follow this course and keep tho
gold reserve intact. As far as his inter
probation of the law is concerned he was
upheld in bis opinion by Secretary
Gresham and Attorney General Olnev
At the same time President
Cleveland pointed out that there was
nothing which compelled the government
TO keep the gold reserve in its entirety
except for the redemption of tho legal
tender notes. II then became not oues-
ton of law and discretion, but OF policy,
and IL was finally decided that the gold
reserve should be utilized to meet the de-
mand for gold shipment. The stories of
trouble in the cabinet are unfounded.
Causes Extra Session Talk.
One of the results of the gold scare has
been to cause good deal of quiet dis
cussion among the Statesmen left at the
capital Of the necessity for an extra session
of congress. 1t is undeniabls that some
Of them feel that such a session is proba-
BILE, and at an earlier date even than that
predicted by Nice-Presidsnt Stevenson,
namely September next. That date was
fixed in contemplation of the necessities
of tariff legislation. but in the treatment
of such great financial questions as are
now before the administration it ia argued
that the element of time becomes of SUI
perior importance.