The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1893-04-28
ABOUT THE TREASURY.
Secretary Carlisle Makes a Statement "a
the Country-There IL Gold Enough "a
Meet RaouiremPnta.

Secretary Carlisle Makes a Statement "a
the Country-There IL Gold Enough to
Meet Requirements
WASHINGTON, April 81. = Secretary
Carlisle last night made the following
statement regarding the financial situa-
ton:
In the exercise of the discretionary power
conferred upon the secretary of the treasury by
the act Of July H. 1900, he has been paying gold
for the coin treasury notes issued for the pur-
chase OF silver bullion. and he will continue 70
do so so long as he has gold legally available
for the purpose. Under this process the govern
ment has been, and is now, pairing gold for sill
yer bullion and storing the silver in its vaults,
where il is as useless for any purpose OF eircu-
lation or redemption as iron, lead or any other
commodity.
The government in the first place. issues q
coin treasury note in ymeut for silver bullion,
and then the coin treasury note Is presented at
a sub-treasury and the gold is paid out for it;
so that the effect is precisely the same as II the
gold were paid directly for the silver in the
first instance. About 500, 900 Of the gold which
was withdrawn from the sub treasury last Tues
day for shipment abroad was paid out for these
coin treasury notes. Noorder has been made TO
stop payment Of gold upon these notes, nor has
any one been authorized TO say that such or
der would be issuei- The purpose OF the gov
eminent to preserve its own credit unimpaired
and maintain the parity OF the two metals By
ali lawful means will not be abandoned under
any circumstances. In view of the existing
legislation the only question for consideration
is as TO the measures that ought to be adopted
to insure the accomplishment of these pur-
poses and upon this question there is, Of
course. room for wide differences Of opinion.
The total stock OF gold coin and gold bullion
now in this country, including what is held by
-, - tn
0DO When l came into the treasury depart
meut on March the amount OF free gold on
hand had been reduced 70 S9s7, 600, but
by arrangements with western banks it
was increased until, April l. it amount
ed TO nearly SS0010n- Then heavy ship
ments began to be made, and two days later
we had only about $40 900, but nov II amounts
TO sss5, 600 after deduct1ng what has been with
drawn from the sub-treasury yesterday for
shipment Arrangements are now in progress
by which more gold is to be procured from the
west and hope that a sufficient quantity will
be secured to keep the gold reserve intact
There is gold enough in the country to meet
all the requirements OF the situation and IL all
who are really interested in maintaining a
sound and stable currency would assist the
secretary OF the treasury to the extent of their
abilities, the existing difficulties would soon be
removed
In addition to this statement Secre-
tary Carlisle said that 100000 in gold
had been taken out of the sub-treasury
in New York yesterday for export. The
class of money paid into the sub-treas-
ury for this gold withdrawal includes
S4OO. 600 in gold certificates. which. to
that amount. did not reduce the gold
reserve because they themselves were
practically gold SO the actual gold
reduction of the day was only $500, 600,
leaving the balance as stated above.
This is the first considerable amount
of gold certificates paid into the sub
treasury for gold export for many years
and encourages treasury officials to
hope that the banks. seeing the situa-
ton. will continue to present gold GER
tiicates in part payment at least for
gold withdrawn for export.