New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-14
WHAT HAS EEEN DONE WITH SILVER
STATEMENT FROM SECRETARY CARLT>LE-Ios

Washington. tine ia representative OF III"
United Press In conversation with secretary Carl>la
,uge, st.d 10 him that there lack Of Precise In
formation touching The amount Of silver coined up To
the present zine. and also ~ I" tn manner Ia which
ia. present operation Of ~. Treasury under the
called >lrrmnn act results In Tie payment Of gold
In the purchase Of silver bullion. In reply TO thts"
Suggestions Secretary Carlisle said
The operation OF the United States rint com
monc,d In 1902, and from that time 10 l''5. n
period Of eighty One years total amount Of silver
dollars coined was -.Oi5.i)s. In 1873 the coinage
was ped by act of Congress. but in 1875 1t was
resumed under the sC-called bland-Allison act. 10y
the terms which the secretary OF the Treasury
directed tn purchase and coin into standard silver
dollar, Of AZ - grains each not loss than $1,000.
900 WORTH more than ri.ooooOO worth 81
silver bullion each monh, and between the date Of
that act aud on The lith % July, 1890. period Of
twelve Years. there coined 1915 .lt6.'93 In
addition this there has tcen coined from trade
dollars *5O7s Az. and from tn. Segnlorage of bullion
purchased and coined under the act Of July II.
1890 the sum Of a's64l 100. making In the nggrecai"
.:i-g -- 314 In full legal tender silver money issued
by the Government since 1873. or this amount only
-j-DIG.Oi0 was In actual circulation on the first
day Of the Irrsrnt month. tie remainder being held
I'm the Treasury rs part OF the assets Of the GOV
eminent or Icing represented by outstanding certih
Gates.
~ the Treasury 70 purchase 400 900 Of silver
bullion each MONTH and It provided that he thonla
continue the coinage Of silver dollars mt III" rat" of
~ 900 900 per month until the first day Of July leoi
and under this act there hav. boar coined T20
which makes the total coinage Of silver dollars under
all acts since Isis S4lJ,294. -35 or more than hfiy
times as much as was coined during previous period
| Of eighty one years
In addition To the silver bullion pure hased by the
| Goverrment since 1873 and coined above stated.
the Secretary Of the Treasury Ia, purchased nnder
the act OF July a. 1890 and now holds In the vaults
Of the Treasury, unconcd. 532 ounces of silver
| bullion which cost TN, people Of the United states
fla 200 $40. and II worth to-day al The market price
| Of silver. sIOI4II, 3s6. thus showing loss OF
go s-.j3O Ey the terms OF the act the secretary
was rruuircd to pay for all silver bullion purchased
| by the Issue of United states Treasury NOTES
payable In coin. and II provided that upon demand oil
the holder OF an, such notes they should d" eo'e"u
I'm gold or silver coin. at the discretion OF the 'r"
| rary 4, being In the language Of the act the
established policy Of the United states to maintain
the two metals II parity with each other upon Tue
present legal ratio or such ratio Il, may he provid
bv law In the execution oi this declared polcy Oh
Congress II Is the duty Of the secretary "i thc treas
| ury when the necessity arises. to exercise all Inv
powers conferred upon him by law IN order To , h.,i
| ,,nus In s,Ich coin ~ may be- demalded. ana I.
prevent the depreciation Of either "' compare" WIN
| The records Of the Treasury Department sho~
| that durinp The eleven months, beginning May III
| l-Ia and ending May !, loO3. the com irrasmr'
notes issued for The purchase oi silver bullion wv,
ihr ac Of July e. 1900 amounted TO *4'o"i 'lo /.
| and that during the period The amount o ,,.
nntcs mid I'm gold "a, IiJ.i'3 Ii thus npphr
I'M ali the silver bullion purchased during that tlme
except S2aIGOli worth. was paid for In I3d %n,
Tho hullion itself stored In the vaults oi the irs
| ,,ry and can neither be sold nor used for the pay
mcnt Of any Find of Obligation How long the T".
| crnm. nj shall thus he compelled 10 p'r, base sN,'
mIion and increase the public debt 10y issnlng r1l,
obligations In payment for Is I !,t" that m'
| Congress alone can answer. ~ II eNlu'', w. ~, "a
| ihis policy is continued and the Secretary o w
Treasury Shall be compelled to Issue honaS or "'wI VII
| wise in,rcose the Understanding public debt u WI
| Ie drm. for the purpse Of procuring gold WIN whc
to nav for silver bullion plrchas"d under IN" nc
| referred to-