The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-04-19
Increase in the Amount of Free
Gold and Small Exports
Anticipated.
Secretary Carlisle May Stop Pay
ing Silver Certificates In
Gold Coin.
Financial Men Trying to FoFoe an Issue OF
Bonds Think This Would He
Sensational,

WASHINGTON, April 18.-The gold situa-
tion o-day was considered to be easier than
yester day. Tho treasury officials are more
confident than twcnty-four hours ago. and
in the minds of all the impression has be-
come stronger that It may not be necessary
for the secretary to take any action which
will change the present policy of the de-
partment. This feeling is said to be due to
the fact that announcement was practically
made that the government would only, as n
last resource, turn to the issuance of bonds.
This firm and determined position of Car
Isle has. they say. already had beneficial
effect, and - soon as it becomes known
that the secretary OF the treasury has seri-
ously considered tho advisability of stop
ping payment of gold coin for treasury
notes issued under the silver act of July H.
1880, the situation will present q very diff
ferent phase. and the shipment of gold.
which is looked upon as a means for fore
ing the administration to issue bonds will
come to an end.
The cabinet meeting to-day. was devoted
to some extent to the consideration of the
financial situation, and it is believed the
secretary OF the treasury will be upheld in
ment In gold of treasury notes. Under the
silver act OF 1890 there are at present out
standing $130. .000, 900 in notes. and they are
being constantly redeemed in gold ut the
New York sub-treasury. Redemption in
gold has been q matter OF accommodation
on the part of the treasury department., as
the law gives the secretary OF the treasury
discretion as to whether they shall be re-
deemed in gold or silver.
Now that the gold balance is reduced the
sec etary Of the treasury ia considering the
Adyisability of using his discretion and
paying these notes in silver. If he deter
mines to take advantage of the discretion
given him by the silver purchase law it will
he moro difficult matter for New York
brokers to obtain gold certificates and
treasury notes would leave them with lesa
upon which gold could be obtained. There
Iis telling among some of the men
who have been prominent in 6nan-
oial circles that should Secretary
Carlisle issue an order stopping this re-
dernption it would approach something of
sensation, but those who are best posted
claim that nothing of the kind would re-
suit. and still insist that if it became ap-
parent that Secretary Carlisle would adopt
this course New Workers who have been
represented as trying to push the govern
ment into an embarrassing position would
see their efforts arc in vain. and gold would
again begin to flow into the treasury. If
they are correct in this surmise ID will be
unnecessary for Carlisle to take any fur
ther action.
The confidence of the treasury officials is
increased by the knowledge that Conrad N.
Jordan, the new sub-treasurer at New
York, will probably enter upon his duties
tomorrow morning. His ability is par
| ticularly we'll thought of here, and with his
assistance it 10 believed Secretary Carlisle
will successfully meet the situation. After
the meeting a reporter saw Secretary Car
Isle. bat he politely declined to discuss the
financial situation. preferrinR not to FORE
| cast any action until the necessity for it
arrives.
Several small offers of gold were received
from the west. These offers aggregate less
than $5OO.OO0 and will not appear on the
treasury books for several days. At east
ern points a slight increase in gold is noted,
free gold having increased to- day $25, 600.
making total. IS shown by the books of
the treasury. to-day OF $6556O. There is
said to have been also slight increase in
New York. which will not be shown until
tomorrow. Information received at the
treasury Department. indicates that gold
shipments for next Saturday will not be
heavy. and there may be none at all.