The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1893-04-29
OUR FINANCES.
Secretary Carlisle Issues a Statement
Regarding Them.
There Is Enough Gold In tho United
states to Meet All the Requirements
of tho situation, II All Who Arc
Ablo VIII Assist the cretary.


/ WASHINGTON, April 21.-secretary
! Carlisle Thursday night made the fol-
/ lowing statement regarding the fnan-
I cial situation:
'In the exercise of the discretionary
! power conferred upon the secretary of
/ the treasury by the act of July ID, 1890,
/ he has been paying gold for the coin
/ treasury notes issued for the purchase
I of silver bullion, and he will continue
to do SO as long as he has gold lawfully
/ available for that purpose Under this
I process the government has been, and
is now, paying gold for silver bullion,
and storing the silver in its vaults,
where it is as useless for any purpose of
/ circulation or redemption as iron, lead,
or any other commodity.
"The government, in the first place,
issues coin treasury note in payment
( 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 tho same
i as if the gold were paid directly for the
silver in the first instance. About $780,
/ 900 of the gold which was withdrawn
! from the sub-treasury on last Tuesday
/ for shipment abroad was paid out on
these coin treasury notes. No order
| has been made to stop the payment of
| gold upon these notes; nor has any one
been authorized to say that such an
order would be issued. The purpose of
the government to preserve its own
credit un impaired and maintain the
parity of the two metals by all 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 purposes, and upon this ques-
ton 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
the treasury, us well as what is held by
/ the banks and individuals, amounts to
over $40, 600, 600 When l came to the
treasury department on the 18th day of
March the amount OF free gold on hand
had teen reduced to S9S7, 600, but by
Arrangement with western banks it
was increased, until on the 1st of April
it amounted to nearly SS, 0OO coo.
Then heavy shipments began to be
made, and two days ago we had only
about $4,000 but now it amounts to
SSS5, 200, after deducting what was
withdrawn from the sub-treasury
Thursday for shipment. Arrangements
are now in progress by which more
gold is to be procured from the west,
, nd I
will be secured TO keep the gold reserve
intact
There is enough gold in the country
to meet all the requirements of the
situation, and if all who are really in
terested in maintaining sound and
stable currency would assist the secre-
tary 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 $500, OOO in gold
had been taken out of the sub-treasury
in New York Thursday for export The
class of money paid into the sub treas
ury for this gold withdrawal included
$780, coo in gold certificates, which, to
that amount, did not reduce the gold
reserve, because they themselves were
practically gold. So the actual gold re-
duction of the day was only 100000,
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 stu
alton, will continue to present gold
certificates in part payment at least for
gold withdrawn for export.