The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-04-19

Sprung in this Shape-small Offers
of Gold from tho West.
WASHINGTON, D. G., April lS,-The
gold situation to-day is considered to be
easier than it was yesterday Treasury
officials aro more confident than they
we're "a hours ago, and in the minds OF
all tho impression has become stronger
that it may not be necessary for the
secretary to take any action which will
change the present policy OF the depart
ment. Tho feeling was said to be duo
TO tho fact that tho announcement was
practically made that the government
would only as last source turn to the
issuance Of bonds. This firm and de-
termined position Of Mr.. Carlisle has,
they say, already had its beneficial Ell
feet. and go soon as it becomes known
That tho secretary OF the treasury has
seriously considered tho advisabllity
Of stopping tho payment OF gold coin
for tho treasury notes issued under the
act OF July IA, 1890, tho situation will
present a very different phase, and the
shipment OF gold, which is looked upon
ss a means for forcing the administra-
tion to issue bonds will come to an end.
The cabinet meeting to-day was de-
voted to some extent to, the considera-
tion Of tho financial condition, and it is
believed that the secretary OF the treas.
ury will be upheld in his advice to stop
for the present the payment in gold OF
tho treasury notes. Under the silver
not OF 1890, tho government Is COM
p0lled to purchase each month 1900 OOO
ounces OF silver, and at the same time
issue notes for the bullion reserved.
There is at present outstanding OF
these notes $4,000. 900, and they are
being constantly redeemed in gold at
tho New York sub.treasury. The re-
demption in gold OF these notes has been
a matter OF accommodation on the part
OF the treasury department, as the law
gives the secretary Of the treasury the
discretion as to whether they will be
redeemed in gold or silver. Now that
tho gold balance has been reduced, the
secretary OF the treasury is considering
tho advisability OF using his discretion
and paving these notes in silver.
II the secretary determines to take
advantage Of the discretion given him
by the law it will be more difficult
matter for the New York brokers to OBJ
tain the gold for shipment, as the stop
page OF the payment on the gold certiti-
Gates aud the treasury notes would leave
them with less upon which gold could
be obtained. The sub-treasury in New
York at the end OF each month makes
report to the department here showing
amount OF treasury notes that have been
redeemed in gold. In the report OF the
ways and means committee on the con-
dition Of the treasury up to January 81,
1899, table was given which shows
that thesub.treasury redeemed treasury
notes in gold from June. 1892, to Janu-
ary, 1903, S2l, ,196,S00
For February and March 1t Is said
that the redemption has averaged S4,-
100000 each month.
1t is said that the continued redemp-
tion OF these notes in gold was bound to
result in tho driving out OF all the gold.
For it Is apparent that the condition
was such that gold was being paid out
through tho medium OF the treasury
notes for the silver bullion sOld
There Ia feeling among some men
who have been prominent in financial
circles that should Secretary Carlisle
issue an order stopping this redemp-
tion ibwould approach something OF
sensation, but those who are best
posted claim that nothing OF the kind
would result and still insist that If it
became apparent that Secretary Car
Isle was to adopt this course the New
Workers who have beon represented US
trying to push tho government into an
embarrassing position would SEQ that
their efforts had been in vain and gold
would again begin to flow into the treas
nry.
Tho confidence OF the treasury Off.
cials is increased by the knowledge
that Conrad NJ. Jordan. the new sub
treasurer at New York, will probably
enter upon his duties tomorrow morn
ing. His ability is particularly we'll
thought OF here, and with his assist
anco 1t Is believed that Secretary Car.
Isle will successfully meet the situa-
ton.
Aftor the cabinet meeting reporter
saw Secretary Carlisle at tho treasury
department, but be politely declined to
discuss tho financial question, policy
he has held for some time, preferring
not to forecast any action until tho no.
costly for II arrives.
Several small offers OF gold have been
received from the west. These offers
aggregate less than $4,000 and will not
appear on the treasury books for SOW
oral days. Al eastern points slight
increase in gold Is noted, the FREQ gold
having increased to-day S25, 900, making
tho total as shown by tho books OF the
treasury to-day SG5,560. There is said
70 have been also slight increase in
Now York, which will not DO shown un.
I'll tomorrow.
Information received at tho treasury
department indicates that the gold ship
ments for next Saturday will not DO
heavy and there may bo mono at all.
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