Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-04-17


Department regarding the financial situation
will probably be determined at a consultation
to be held this afternoon between Secretary
Carlisle and President Cleveland. Until the
President and Mr.. Carlisle decide what they
will DO no one can say positively what action the
government will take.
Mr.. Carlisle is understood to be opposed &c
the issuance of bonds for the present at least
II Is his judgment that it would be
preferable to utilize portion of the
gold reserve fund until it becomes APP
parent that the issuance Of bonds is an
absolute necessity. Among the OF. Gals of the
Treasury Department not the least fear or APP
prehenslon Is expressed o. any financial embar-
rassment growing ont Of the geld shipments.
They are satisfied. they sav, that the ship
ments are being forced by those who would be
oene hted by the issue OF bonds, and that as soon
as brokers and bankers are positive thai their
attempt to force the il ,Ve Of bonds viii be use
less just so soon wIll the gold ship men.s cease.
WAITING FOR AN EMERGENCY.
Secretary Carlisle Absolutely declined this
morning to outline his future financial action
preTerrln5 to await the arrival of the
emergency before indicating what he would
do. 1T viii be remembered ttat when Mr.
Carlisle assumed the control of the Treas
urv Department the free gold was even les.
than 1t ~ today. there being but $500. 900. ? be
officials -eel that If Mr.. Carlisle. by his fin,
a.atlaa and ability. was able 10 meet the de-
r4and al that anne he can do so again.
4b@ Greer OF sod for export tomorrow is
Sl.-JC, eco. which when shipped will reduce tc
free gold 10 about $500. 900.
DIFFERENCES OF OPINION.
1t is understood that there is some difference
Of opinion between President Cleveland and
Mr.. Carlisle 20 what course should DE pur-
sued. the President rather leaning to-
ward an issuance OF bonds should ihe
free gold be entirely exported. while Mr.
Carlisle feels that 1t would be better tinan-
cial policy to Use for the present a portion of
the gold reserve, which he believes the Secre-
tary OF the Treasury Is legally entitled TO do.
Ii 1t became apparent that the exports were 10
continue in large amounts he would then
probably consent to the bond issue.
In the order OF the Secretary on SATURDAY. Ii
recting that no more gold certificates De issued
at present, Mr.. Carlisle is considered
to have taken an excellent PROBATION
ally commended. There are three
things which can be done. either bonds can q
issued. the gold reserve utilized to such poin.
that it is cot considered advisable to utilize
any more OF It, or the legal tender
coin certificate might be paid in sil.
yer dollars, instead of gold. as is now
done. 1t Is not Ike! y. however. that the latter
course will be adopted, but that either one OF
the former two viii be decided upon.
THE DRAIN OF GOLD.
Treasury officials have very little to say
on the subject and are unwilling to state
whether in their opinion the expor: o!
gold will continue. II is conceded by
some, however. that for the present !
small amount of gold will probably continue
to go out, but they feel that the end of this
must soon come and the return set in. The
cause of the present financial condition is due
to the large balance of trade which stands
against the United States, the imports far ex-
ceeding the exports.
MATTER OF MONTH.
1t is thought that if the present month can
be tided over that the financial situation will
assume different appearance. Most of the
spring importat;ons have been made and the
travel of foreigners to this country
viii be begun. The number of persons
who usually go abroad each summer will be
greatly reduced on account OF the world s
fair. and on the other hand, citizens of
foreign countries are expected to yisi;
this country in large NUMBER. and will
undoubtedly spend great deal OF money
while here. This. it is believed viii readjust the
balance of trade and tine opportunity given
foreigners to see the condition OF America
and their Development will reassure
money in this country. If the pre-
dictions and beliefs OF Of the treasury Off
cials is fulfilled the gold shipments will prob
ably cease by the end of the month and the
amount Of free gold in the treasury again in
crease.