The record-union., 1893-04-26
Special to the RECoRD-UNIoN.

WASHINGTON, April 25.-The net gold
in the Treasury this morning, over and
above Sl00,000,000 gold reserve, is $780,
OJO. This accounts for the gold taken
from the New York Sub-Treasury for
export to-day; also, for the gold accepted
from the Boston bankers. 1t does not,
however, include the gold offered from
San Francisco and Roanoke, Va. These
amounts will appear in the Treasury fig
ures when the actual exchange is made.
Secretary Carlisle is much encouraged
at what he terms the patriotic position
taken by the Boston bankers" He took
with him to the Cabinet meeting this
morning bundle of papers, presumably
bearing on the conference of New York
bankers with Assistant Treasurer Jor-
dan. In the incomplete condition of that
matter the Secretary did not deem it
prudent to express an opinion.
DISCUSSED AT CABINET MEETING.
WASHINGTON, April 25.-At a Cabinet
meeting this afternoon Secretary Carlisle
brought up the proposition of the New
York bankers to supply under certain
conditions the Treasury Department with
gold. 1t was very thoroughly discussed,
and finally rejected. What this PROPOSE
ton was is not known here, as Secretary
Carlisle declined to make its terms pub
lie. 1t was not, however, considered ad-
vantageous to the Government. This is
the elimination of several propositions
submitted, one of which was declined
last Saturday. A counter-proposition
was then made by the bankers to the
Secretary of the Treasury, which was re-
celyed last Monday. This was also re-
Jected, and in turn the Secretary sub
mltted proposition to them which they
also refused to accept. The negotiations,
therefore, between the Treasury Depart
ment and the New York bankers is off.
at least for the present, and Secretary
Carlisle will look in other directions to
continue to replete the Treasury gold.
The Administration does not desire to
issue bonds, and will not do so except
as last resort.
CARLISLE's PROPOSITION.
New YORK, April 25.-Secretary Car
isles proposition to the New York
bankers yesterday is understood to have
been this: He wished to know whether
they would lend the Government $50, =
100000 in gold for one year from May lst.
the loan to be secured by ten-year Gov
ernment per cent. bonds, to be issued at
IVA, which would be equivalent to 3 per
cent. bonds.
The terms of this proposition were that
the bonds should be placed on trust with
the Secretary of the Treasury or Sub
Treasurer, and as the banks turned in
gold, certificates were to be issued to
them therefor.
AT the end of the year the Government
was to have the option of paying off the
loan in gold with 3 per cent. interest. If
the Government could not pay the loan
in gold at the end of the year, then the
banks were to surrender their certificates
and take the amount of bonds to which
they are entitled to at 1174.
The answer of the bankers to this prom
osition was that their gold was held in re-
serve as required by law, and if surren-
dered for bonds, which are not current
money, it would have to be replaced bv
other money, which would mean that
they would have to call in loans to an
equal amount. The result would be a
very stringent money market and per-
haps a panic.
What the bankers are willing to do. al
though they have not made direct offer,
Is this: They will turn over $50, ,OOO, 900 in
gold to the Treasury Department if it
will issue in exchange certificates or
notes bearing q per cent. interest. which
can be counted in reserve and be used in
the settlement of balances at the CLEARING
House the same as money, and which
will be received for balances due the
Sub-Treasury and be re-issued in ex-
change for greenbacks or legal tender
notes.
The certificates could be the same as
the old Clearing House certificates issued
against collateral, which, in this instance.
would be gold.
CLEvELAND's STATEMENT.
New YORK, April 25.-Russell Sage
has been seen and spoken to in connec-
ton with the monetary question. He
said: 1.-THE influence of Cleveland's state
ment will be felt, not alone in this coun-
try, but abroad as well. He has adopted
the right course, and will succeed in it.
in my judgment. 1 believe 70 per cent.
of the Republicans will stand by him in
the position he has taken as well as the
more conservative part of his own party.
expect to see the situation gradually
improved from now on"
GOLD EXPORTS.
New YORK, April 25.-The steamship
Trave, which sailed for Europe this
morning, took out S3,4OO,OOO gold and
$50, 200 silver.
PRESIDENTIAL APPOINTMENTS.
Thomas L. Thompson Gets the Brazil