The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-03-10
GOLD FOR THE TREASURY.
100000 RECEITED IN CHICAGO, NEW
FORK, mi VIEW ORLEANS.

Secretary Carlisle Says that He Will Exer.
else All the Power and Discretion Vested
In Him to Uphold the Governments Credit
Ample Gold TO supply tho Demnad.
WASHINGTON. March 0.-Secretary Carlisle
this morning authorized tho announcement
that he would exercise all the power and dis
erection vested in him to uphold the credit OF
the Government and to maintain the parity Of
gold and silver. This statement was made to
brush away the endless string of rumors that
have gained circulation about what he con-
templated doing as to maintaining the gold
reserve intact. as to issuing bonds. or as to
paving United States notes and United States
Treasury notes in silver when the free gold
WAS exhausted. &c. Tie example Of Denver
in Offering Sl.OOO.OOO in gold yesterday
for Treasury notes has been followed
by Chicago bankers. who to-day of
fered 100000 in gold for United
States notes. At the Treasury Department it
t. thought that 'ankers in other cities will do
likewise. There is 4 feeling Of relief as to the
ports Of gold on!Snturday arc unusually heavy.
q which no ini2rmation has yet been received.
gold to supply the demand:
some time ago. when, the question OF tho
any part o.the SlUU.OOO. 900 gold reserve was
under consideration. Solictor-Genernl Aidrich
Fsf n 11S the matter, sf ' Mr. 1itHfeSE,S OpiSion IN iaa
flfSt-lho secretary OF inc treasury
redeem III" legal tenders OF 1852 and 1863.
and relss ued under tho act Of May 81. 1878;
hut ! am OF the opinion that 1t Is not at all nec-
".Second-There is no requirement that the
REDEEM ption Of legal tenders shall hs made In
gold. As to the policy Of using silver. / am
not PREPARED to urge this action. 1t might
cause q panic. but It could undoubtedly be
"Third-The Secretary OF tho Treasury has
no rower, to issue bonds not TedeemabIe. In
either gold or silver. The law STIMULATES that
either gold or silver now. and did SO mean ut
the time OF the passage ~ the law"
This opinion. while nsked and nrenared. was
1 1;d delivered; 3Tins to Ne laSt TINT occasion
The belief that there Is no positive pro:
vision Of the law. requiring that a 500 OO.tOO
reserve shall be kept intact l. In. my opinion
correct. II 10 also tru" under the law. as un-
redeemrd IN coin. This was the case Mt the
perio1 fixed for the RESUMPTION of specie pay:
ments. To wit. Jan. J. 1879. under the law OF
The Treasury, TO. Day received gold at several
points. In New York the gain made In gold was
slup.,Ou. while at New Orleans IT received
$4,000 in gold in exchange Tor a like amount
No intimaiion has yet been received that any
gold Will he. exported on saturday, from New
York. and at the present rate OF exchange II 10
country. The Treasury has now more than
Sb.uU0.uO0 in FREQ gold. aud in tho usual con-
dition of tradc, this is Likely TO DO increased
rather than diminished. Il is quite plainly
that as between tho. issue Of bonds and the
use Of a portion OF tho Sl0O.OOO.OOO gold re-
serve. II necessary. to maintain the parity Of
Go,d and silver; Secretary Carlisle VIII resort
pate that the necessity Will arise to do SO.