The record-union., 1893-03-10
Special to the REcoRp-uN1ox.

Special to the REcoRD-UNIoN.
WASHINGTON, March 9.-Secretary
Carlisle this morning authorized the
statement that he would exercise all the
power and discretion invested in him to
uphold the credit of the Government and
MAINTAIN the parity of gold and silver.
This statement was made to brush away
the rumors about what he contemplated
doing, as to maintaining the gold reserve
intact, as to issuing bonds or as to paying
United States notes or United States
Treasury notes in silver when the free
gold was exhausted, etc. The example
OF the Denver banks in offering the Treas
ury 81 ,000,0 in gold has been followed
by the Chicago bankers, who to-day Of
fered half million. 1t is believed the
bankers of other cities will do likewise.
There is feeling of relief as to gold bal
ances. Unless the exports Saturday are
unusually heavy, of which no informa-
ton has yet been received, the Treasury
will have ample gold to supply the de-
mands.
GOLD COMING IN.
WASHINGTON. March 9.-The Treasury
to-day received gold at several points.
In New York a gain was made of $780,
600, while at New Orleans it received So
900 in exchange for a like amount of sill
yer certificates. No intimation has yet
been received that any gold will be ex-
ported Saturday from New York, and at
the present rate of exchange it is not
thought any will be taken out of the
country. The Treasury has more than
S3,OOO.OOO in free gold, and in the usual
condition of trade this is likely to be in
creased rather than diminished. 1t was
quite plainly intimated in the Treasury
Department to-day that as between the
issue of bonds and the use of a portion OF
the SlGO, 200, ,0O0 gold reserve, if necessary,
to maintain the parity of gold and silver,
Secretary Carlisle will resort to the latter
plan, but he does not anticipate that the
necessity will arise to do SO.
ALDRICH's OPINION.
WASHINGTON, March 9.-Some time
ago, when the question of the Secretary
OF the Treasury to use any part of the
100000, 900 gold reserve was under con-
sideration, Solicitor-G eneral Aldrich was
instructed by the Attorney General to
look up the matter. Aldrich's opinion in
brief is:
First-The Secretary of the Treasury
has continuing power to issue bonds to
redeem the legal tender of 1862 and 1863,
and reissue under Acts of May, 1872 and
1873, but 1 am of opinion it is not at all
necessary.
Second-There is no requirement for
~. j Il
in gold. AS to the policy Of using silver,
l am not prepared to urge this action. 1t
might cause panic, but it could un-
doubtedly be done.
The Secretary of the Treasuary has no
power to issue bonds redeemable in either
gold or silver. The law stipulates they
shall be redeemable in coin, which means
either gold or silver now, and did so
mean at the time of the passage of the
law.
This opinion. while asked and pre-
pared, was not delivered, owing to the
fact that the occasion did not demand it.
Aldrich says: "The belief that there is
no positive provision of law requiring
that the Sl0O, ,000,OOO reserve shall be kept,
is, in my opinion, correct. 1t is also true,
under the law, as understand it, that all
legal tender notes may be redeemed in
coin. This was the case at the period
fixed for the resumption of specie pay
ments, to-wit, January l, 1878, under the
law of 1872.
SOME INTERESTING FACTS.
NEW YORK, March "a morning
paper says: There is Sl14, 100000 in gold
Of
according to Treasury experts, is in
actual circulation; the rest is boarded
According to reports of the national
banks they hold 100000 in gold certl-
ficates. Statistics are not furnished by
State banks, but it is fair estimate that
they hold S2l, 100000. The accumulation
of bills by some bankers represents
many large especial accounts by in
dividuals. Any fnancier may make a
collection of gold notes and deposit them
for safety with his bankers, in which case
no particulars are furnished in the re-
ports and the amounts are included in
the gold totals of the bank statements.
The SlOO. 900 in gold reserve, which is
thought by some to be imperiled, may be
called on any day by the holders of
United States notes or "greenbacks,' of
which the limit of issue is S34S, 600, 600 On
this basis of the proportion of paper
money of this sort to gold the ratio of the
United States is 2S.34 per cent. Recent
reports of the Bank of France show a
percentage of 1886. Reports of the Bank
of England show a percentage OF GAS.
The Bank of Germany, whence no exact
reports are available, show an estimated
percentage OF 70.3l.
>ro CHANGES AT pRESrNT