The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1893-05-11
The Gold Reserve at 500, ooo, 900.

Inc treasury SITUATION HAS lupTOVeu
considerably during the past week. Even
the order for 100000 in gold for ship
ment yesterday. which was given earlier
in the week, was conceled at the last
moment and no gold went to Europe at
all during the week. There were some
small Withdrawals of gold for Canadian
banks, which seem to have become very
much afraid of United States paper cur>
rencv within the last few weeks. But
for these small Withdrawals there would
now be slight excess above the $lOo,-
100000 reserve in the treasury, but as
matters now stand the reserve is just
about those figurers. The reason for
the suspension of shipments of gold was
the fall in the price Ct a&change, winch
made shipments uupfef able. No one
can tell whether the present low rate OF
exchange will continno or not, but it is
altogether probable that it will if for
eign purchases of stock continue at the
rate of the past three days. The opens
ing of the Worlds Fair will also have a
favorable effect, though it is probably
too early for that to be felt as yet. AS
soon as foreign visitors begin to come
into the country in large numbers they
will bring with them considerable
amount of gold, or, what is the same
thing, will bring letters of credit that
will have to be settled on a gold basis
in the settlement of the balances be-
tween the United States and Europe.
The fair has already brought considera-
BILE sums from Europe to be expended
in the erection of foreign buildings and
the installation of foreign exhibits, The
greatest effect of the exposition on the
monetary situation will he, however, OF
a negative character, in that it Will
keep thousands of Americans at home
this year who would otherwise take
their vacations in Europe and spend
great deal of money there, that would
largely increase the balance against this
country.
Treasury Department designations.
| Secretary Carlisle Monday filled two of
the places recently made vacant by the
enforced resignation of some OF the chiefs
| of division in the Treasury Department.
He appointed j. M. Hoge, of Locust Lane,
| Va. to sue eed COL Theodor F. Lang,
| of Maryland, as chief of the book-keep-
ers' division in the fourth auditors office
and Joseph G. Dill, of Missouri, to sue
| coed A. b. Jameston as chief of the pub
lie debt division in the first auditors
office. 1t is expected that the removals
| and appointments will now follow rap
idly in the Treasury Department until
| nearly all the chiefs of division and 9TH
er officers and employees not protected
| by the civil service law are changed. An
indication of how sweeping the changes
| in that department are to be is furnished
by the call for the resignation of A. l..
Sturtevant, chief of the stationery divis>
ion. Mr.. Sturtevant had been looked
upon as one of the fixtures of the Treas.
ury Department, where he has been en-
| ployed thirty-two years. He had re-
NAMED in office during the whole of Mr..
Cleveland's former administration, and
it was generally supposed he would be
one of the few chiefs of division who
| would remain this time, but he has been
turned out and it is probable that otis
ers who have come to be looked upon as
permanent employees of the government
will have to follow him.
The following additional designations
| of obiofS of divisions in the Treasury De-
partment were received Saturday by Sec
rotary Carlisle by request: J. A. Sparks,
Kentucky: J. w. Thompson, Indiana; H.
E. Hoard, Minnesota; M. M. Holland,
Ohio; Charles Hedges, Texas; John H.
King. Dakota; A. Macarthur, Illinois.