New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-30
ALCLL IN THE GOLD MOTEMENT.

THE TREASrRYS GOLD Loss IL THE WEEK
NJ POOL OF BANK GOLD PRACTICABLE.
There were no transactions in gold. either ont In.
al the Suh-Trca,ury yesterday. No exports Of gold
were made. and there are yet no prospects Of ship
menS Of the prcciou, metal early this week. The
foreign exchange market closed firm In tone at 81 sGG
~ 50 to the pound sterling. The London markets
were closed account OF bank holiday I'm that city,
hut the money situation abroad Is 1rcu'ing keen in
ercSt in banking circles here continuance Of the
hardening tendency in rates will he apt TO cause an
early renewal Of the gold cf'uX from this country
The week Just closed marked 10y the first Invasion
Of the 800 100000 gold reserve in the Treasury.
hitherto kept intact. On Tuesday the Washington
statement. rejecting the actual condition about two
days previous showed drop OF about $j0OO0 900 In
the ret gold held 10y tn" Treasury 10 800. i32. 337
On Thursday the cold balance fell to T02, 152.
go. Yesterday the balance was r93.jo3loo. Com
pared with the previous saturday there actual
loss In gold coin and bullon Of S96G.733; but out
standing certificates reduced S213G,G22. that
the loss In the net gold balance In the week WAS
s7.5oOl1l
The sub Treasury officials here disposed e. think
that the National finances will occupy les, anX'ous
attention than they have received Of late" II Is now
clear that the Government will meet all IL, obga-
lions In gold. long possible. and as there Is
every probability that the exports OF gold VIII he
resumed later In the the gold in the Treasury
will doubtless be depleted. But how that confd nce
In the integrity Of the currency has been restored,
there i not likely TO be any scare" Withdrawals Of
the yellow metal. Shipments may h. COMPEL d 10y
the adverse balance Of trade, hut unless some new
development occurs disturb credit the Treasury. II
j. expected, will be able to meet demands upon II
until the time when Congress can be convened To pro
vide remedy for the situation. IT." bank, are
cXcTng tE.ir utmost effort 10 spread the Eur'p an
demand for gold over - long period a. possible.
and their influence with the shippers Is considerable.
Discussion OF the probable attitude Of Congress on the
silver Purchase law is considered idle 10y most bank
crs the principle that Sufficient unto the day Is
the evil thereof
The suggestion made 10y Secretary Carlisle, but In
no way acted upon by the bankers who met him On
Thursday TO the effect that the banks I'm the cities
where Sul-Trcasirics are established shonld pool"
their gold with IN" Trcasurys gold In order TO main
tain the siOOOOOCO0 reserve. WIS ll,il' discus sea
yesterday. There IS probability that the idea can
De carried out. II Is certain that some OF III" banks
would refuse TO join the plan. and unlcs, unanimous
action were secured In" scheme would b. impracu
cable \ vital objection is that In Vicw Of existing
conditions and prospect, tn" execution OF the plan
would be equivalent to The banks contributing steadily
10 fiji - vacuum I'm the Treasury reserve II ~,
l. desirable. easier ana les, cnnihinn, pan "ntI"
for tn" banks directly To surrender tA'iT GOA To
The Governments duty 10 maintain III" parity ri".
gold and silver The banks ar" simply trustees i"f
their and dcpOstUrs. and their hr't duN
/, 10 protect their own sclN"ncy. Their I"''1N"s'
gold legal tenders alike. intended Tor h" ar
comrodaion Of the public In IT, commercial iraisac
lions. These reserves caIUO, be- used t. a,eiI lh"
Government In the performance Of H. duiy. alioush
any reasonable plan o action would meet Wit! cordial
cooperation from the banhs.