The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-04
NET GOLD In THE TREASURY.
THE RESERVE DEPLETED M MORE
THAN TEN MILLIONS.

OaIy ss8,93e,e1s Now In the Treasury,
Aenin.t Sos, 100000 on Jan. L Last
and s21s,sts.ooo In aIarch, 1ess-Tbe
Admiri-tration Seriously Considering the
Problem or Repienisbinr the Treasury.
WASHINGTON. June AT no period since
specie payments wore resumed on Jan. /,
1879. has tho net gold In tho Treasury Of the
United States been so low as 1t is to-day. Tho
amount is SSo.o3a.2l7. On JAN ]. 1870. 1t was
S114.la3.5 3a.42. Since that period tho amount
gradually increased until in March. 1888 1t
reached S2lS.SlS.00O. which was hgh-watcr
mark. Since that time it has iluctuated. but
at no time since then has 1t reached S2Oo.O OO.-
00O.
Since Jan. ]. 1880. the net gold holdings OF
the Treasury have been on the decline de-
creasing from Sl04. 100000 In January. 1889.
toS177.00O. 600 in January. 1890; 100000
In January, 1891: S110.000.o00 in January.
1892. and Sl09. 900. COO in January, 1893.
While no uneasinoss is felt at the Treasury
Department because OF tho continued loss OF
gold from the Treasury. still Secretary Carlisle
is not unmindiul OF the fact that a limit may
he reached whero tho confidence reposed in
the Treasury by the people may be shaken.
How to rpplsnish the Treasury with gold has
been a problem seriously considered by tho
Administration for some time.
The issue OF bonds Is the usual remedy sug-
gcsted. but it is known that tho President is
not In favor OF this alternative. except rs tho
last resource. and even IL bonds IRE issued.
Treasury officials are not by any means conn-
dent that the Treasury gold replenished in
this way will long continue so. tits this doubt.
rerhars, moro than any other that prevents
tho Administration from seriously consid-
erine at this time bond issue. md 1t
is certain that every other available means
will be resorted to before this latter means Ia
adopted. 1t is contendsd that to obtain gold
in this way. with the present laws In force.
simply means borrowing gold at interest for
the purchase OF silver. with no assurance that
the gold SO obtained will remain in the Treas
ury longer than the time necessary to tsko
Suggestion has been. made that tho Sscre-
tary o! tho Treasury has the poWer 10 issn"
ing the amount OF gold and Increasing the vol.
ume Of crsenbacks outstanding TO the extent
Of the gold thus exchanged.
Secretary Carlisle being out Of the city TO-
day. his views on this subject could not be oh;
talned Acting Secretary tami i said ne ha nt
his manner Indicated that his hope was very
faint. Other Treasury officials sai6 that tho
vanced ut different periods in the past ten
NO No law on the Statute hook is m ore stringent
than that relating to greenbncks: 1t provides
that s34G, OU0,O 900 OF greentacks shall DO
Kent in circulation When such notos are
presenie ed for rsde ption. new notes TO iko
amount shall be issued. The Secretary OF the
Treasury has no discretion either to increase
or diminish tho volume Of greanbncks. Sec
ton 300 Of the Revised Statutes provides
that the Secretary, OF the Treasury may ex,
this provision Of law IL is presumed that the
story started int tn Secretary OF he Treasury
had discovered II statute which permitted
him to Issue grcenhacks in exchange for gold.
This statute gives. him the power. which has
backs. United st ties Treasury notes. United
States notes. silver certificates. gold certih;;
Gates. silver eoin. silver bullion; and gold
bullion for gold coin or gold hullion. in his
discretion. but there is a decided difference
between the "eXchunEe" OF one clnss OF
money for gold and tho issue" OF class
OF money to exchange for gold