Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1893-04-17
DOWN TO THE LIMIT
The free Gold" in the Treas
ury Strong Box.
TALK OF ISSUING FOUR PER CENTS.

Carlisle Considering Whether to Sell
Bonds or Trench on the 500. 900. 900
Reserve, and Hoping That Neither
viii BE Necessary-The Issue of Gold
Certificates Stopped for the First Time
Since 1S19-Springer's Views.
WASHINGTON. April 17.-It looks as
though the secretary of the treasury would
this week be confronted with tie necessity
of demonstrating what will be his financial
policy. 1t is expected by treasury officials
that there will be gold shipments during
the coming week sufficient to wipe out the
free gold balance in the treasury and force
action to be taken to maintain the parity
of all issues of currency of the United
States. The secretary when the free gold
supply is exhausted-unless he can obtain
gold from the banks to tide over the
emergency-must determine whether he
will use the gold reserve of s100,o o0,cO0,
held for the redemption of outstanding
greenbacks, or will take measures by a
bond issue to replenish the stock of gold.
Carlisle VIII Say Nothing.
Carlisle maintains almost absolute
silence as to his purposes and win not state
n advance what he purposes to do Satur-
day the issue of gold certificates was
stoppei-for the first time since
the resumption of specie payments
except that persons who deposit gold
but no indication of this intention was
given until after the order issued, and
it was not announced until the close OF
business at the exchanges. IL is said that
the secretary is inclined to use the gold
reserve if necessary, rather than to issue
bonds. but the probabilities are that he is
not committed in his own mind irrevocably
and will not reach an absolute decision
until the time for action has come.
Preparing to Issue Bonds.
Meanwhile all the preparations tor
bond issue have been made in order that
no delay may occur in securing the gold
should it be thought best to issue bonds.
Only s., O0O, 600 of these bonds have been
prepared One issue of bonds, however,
would almost necessarily have to be fol-
lowed by another, as financiers in New
York and elsewhere would doubtless force
larger issues because of the profits to arise
therefrom if the treasury should once en-
ter on the bond-issuing policy in small
way,
Putting OFF the Evil Day.
The present policy of the treasury depart
ment is one of putting off definite action to
the very latest in hopes that conditions,
which have shown some slight indications
of betterment, may improve sufficiently to
make it unnecessary either to issue bonds
or to use the gold reserve. The trade bal
ance. it is thought, will shortly become
more favorable to us. Increased cotton
and grain exports are looked upon as likely
in the next few months The influx of for
eicn travel to the Worlds fair will also
tend to lessen our European debts, and
some disposition has been again manifested
to buy American securities.
Springer Would Use the Reserve.
/. Representative Springer, when asked
what would be done, said that he did not
know what action Carlisle would take.
Int that he himself was decidedly in favor
of making use of the gold reserve. THAT
il exactly what it was put there for" he
said what is gold reserve for, he
added off it Is not something to be awaited
of when the occasion for using 1t arises?
would use the gold reserve and keep on
using it until it got down to S25, DOC, 600 be-
fore would issue bonds, and would not
issue them then unless it looked rs If that
S25 OOO, 900 might be wiped out This
country can raise money and secure Sold
whenever it wants it"
other Persons Think Differently.
Some other persons who were talked to
said that they regarded the reserve as n
pledge that it would be held there to meet
payments of greenbacks, and that therefore
it should be kept intact. The gen eral
opinion was that after the treasury had
actually reached the point where there was
no free gold there would be not nearly
so great a shock as has been so freely pre-
dicted.
IMPORTANT RAILWAY COMBINE.