The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-04-29
GOLD TIDE STEMMED.
Wall Street Will Come to the
Aid of the Government. !.
PATRIOTIC SOUTHERN BANKS.
Offers Of Gold From All Sections Of
the Country - Brayton Ives
View Of the Case.

" AsHrSeToN CITY. April 2s-Ofers 70
gold in exchange for legal tender notes are
still being received at the treasury depart
ment. The aggregate runs into hundreds
OF thousands. During the past week Of
fers have been made and accepted from the
bankers associations of Roanoke, Va;
Pittsburg. Washington City, st. Louis,
Boston, Norfolk, Va; Columbus. Ga.
Baltimore. Philadelphia and New Orleans.
Reports from New York indicate that lit
tie if any gold will go out tomorrow, and
this in connection with the low rate of ex-
change, is accepted by the treasury of
ficia.s as a most encouraging fact and in-
actually turned. it has at least been
ssemmed for the present. There is still
considerable talk of an extra session for
the consideration of the financial question,
but IT the reserve fund is regarded by the
administration as so much available gold
for meeting obligations, it is improbable
that there will be SO alarming depletion
OF funds as to render an extra session
necessary. The concensus OF opinion
seems to be that an extra session will be
convened about September /. but will be
called no more for the consideration of the
financial question than the readjustment
of the tariff
COLUMBUS. Ga, April 2a-An important
action has been taken by the banks of Co
lumbus in tender of their entire gold re-
serve of $54, 600 to Secretary Carlisle upon
the same terms heretofore granted by the
secretary. A telegram to this effect was
sent to Secretary Carlisle and letter with
details followed. The following resolution
was adopted:
Resolved, That relying upon the assurance OF
President Cleveland and his cabinet that the
government will continue to pay gold for all
bills presented, the associated banks OF Column
bus. Ga, hereby tender the secretary of the
treasury all the gold reserve now held by them
In exchange for legal tender notes. believing it
to be the duty OF all banks throughout the
country to come forward at this time and con-
tribute, however little il may be, to the restora-
ton OF the public credit We have implicit
confidence in the integrity of President Cleve-
land and his advisers, and trust the ultimate
judgment OF our people to uphold them in pro-
tecting our united interests from an unstable
currency.
NEW YORK, April 2S.-Great satisfaction
was expressed in financial circles this
morning at the result of the conference
yesterday evening between New York
bankers and Carlisle, secretary of the
treasury, and Wall street quickly showed
that 1t appreciated the clear, ex-
plicit statement made to the bank
ers. Although no action was etaken
at the conference, it established
Enthusiastically in the minds of the bankers
present, as all admitted this morning,
that the government was determined to
maintain the parity between gold and sill
yer; that the secretary thoroughly under
stood the situation, and that the stories
that there was friction between the secre-
tary and bankers of New York were abso-
lutely without foundation. 1t was learned
on good authority that Secretary
Carlisle was assured by the New York
bank presidents of their willingness
to assist the government whenever in his
opinion more gold was needed by the
treasury, the terms on which the gold
would be furnished being left open. 1t
was also agreed by all present that the I'M
easiness based upon the intrenchment
upon the 800. 100000 gold reserve fund
was only sentimental, and at this time
there was no necessity for bond issue or
gold loan to the treasury.
Speaking of the conference with Secre-
tary Carlisle. Brayton Ives, president of
the Western National bank, said today:
The result of the conference WAS eminently
satisfactory, as far rs it went to prove as it did
prove, the existence of entirely harmonious
feelings between Secretary Carlisle aud the
New York bankers. / am in position
10 know that there has been no friction be-
tween New York bankers and Secretary Car.
aisle. i have never been associated with any
body OF men more anxious TO accomplish a
given result than the New York bankers have
been TO assist the government in every possible
wayI was especially pleased yesterday at the en-
phatc declaration Of Carlisle that the silver law
Is the chief cause OF our present trouble. and
every effort must b. made to secure its repeal.
was also favorsbiy impressed by the clearness
of Carisle's expressions and his evident and
thorough understanding of the situation.