Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-04-22

Gus plSAGhEENENT BETWEEN Mr.. CLENE-
LAND AND Mr. cARLisLr-DIrrznIscKs or
OPINION As 10 NKrHoDs.
The gold reserve. depleted yesterday, is in
tact today. offers aggregating nearly a. .0Oo. 900
having been received and accepted by The Sec
retary this morning. Secretary Crrlisle
says ho did not think. in justice 70
those who we're disposed to supply the
government with gold. that their names
should be published, and for that reason alone
he did not think il wise To state names and
places from which the offers came. II is be-
lisved. however, that the west again came TO
his relief Tho Secretary expressed the hope
that the supply would continue TO increase
so that he would bo able TO meet any de-
mand made on the Treasury tor gold for
export on next Tuesday He said that the
treasury would continue the policy now being
pursued of paying out gold for the treasury
coin notes, and that at an early
hour yesterday, when it seemed that the
reserve would be encroaehed upon. he
directed the subtreasurer at New York TO con-
tinue paying these notes as heretofore. He
was therefore at a loss to understand how any
uncertainty prevailed in the public mind as to
the action Of the Treasury Department in the
premises.
That such uncertainty still prevails, however,
IL evident from the numerous kilograms being
received by the President and Secretaries Carl
isle and Lamont, and from the fur
ther fact that several prominent New
York bankers are here today for
the purpose, if possible, OF getting better
and clearer knowledge of the financial sltua-
ton from personal interviews with cabinet
officers and treasury officials.
IL Is interesting to note IN connection with
the gold situation, how, during the past few
wears. the treasury has lost gold. On January
81. 1889. the net gold in the treasury was sl9l,-
900 900; ON January 81, 1880, SI77 O00, 900; JAM
uary 81. 1891. l4l,00o, 900; January 81, ls92,
sll9.OOo.0o0, and on January 81. 1888, $l0s,-
000, 900.
THE PRESIDENT AND NH. CARLISLE.
The exaggerated stories which gained circu-
lation last night and were widely published to-
day to the effect that at the cabinet meeting
during the afternoon President Cleveland
and Secretary Carlisle had had
serious Misunderstanding which might lead to
the resignation OF MIR. Carlisle officially de-
MED by members Of the cabinet aud officials
OF the Treasury Department The relations
which exist today between Secretary Carlisle
and the President are cordial they have
ever been.
What the future policy Of the treasury may
be regarding finances is still matter Of CON-
lecture and probably will be, for o definite
course has not been decided upon. The
department will wait for Developments, and
as the emergencies arise 10 il believed
that the department will be fully able 10 meet
them. The administration feels confident that
the present financial furry is q temporary
one, based on an exaggeration Of Conditions,
ana they have no fear that there wall be panic
or that tho national credit will be impeached-
DIFFERENCES OF OPINION.
The most reliable information ~ to the posi-
ton OF the President and Mr.. Carlisle and what
occurred at tine cabinet meeting yesterday is
that there existed between them simply .
difference of Judgment - to which policy
Was the better one to be followed.
Secretary Carlisle believed that the law justi-
ned him stopping the payment Of gold tor the
treasury notes of 1880 and considered it best
to follow this course and keep the
gold reserve intact. As far his in
terpretation Of the law is concerned he MAS up
held IN his opinion by Secretary Gresham and
Attorney General Olney Al the same time
President Cleveland pointed out tnHt there
was nothing which compelled the government
to Keep the gold reserve IN its entirety
cept Tor tho redemption OF tho legal tender
notes. 1t tnen became not d question of law
and discretion. but OF policy, and il was finally
decided that the gold reserve should be utilized
to meet the demand for gold shipment
THE SILVER QUESTION.
It IL saii that the administration was led
to this policy by the fact that il the
present manner OF redeeming the treas
ury notes in gold was carried out
It would more fully impress the pubic with
the fact that the present silver Law will
inevitably take ali the gold from the treasury.
Such policy, If followed out, might produce
IL -
anti-silser views, The President, " is
said, feels confident that there is no
danger in the situation, and that if
the workings of the silver Law were allowed
to cat into the gold reserve that the chances
Tor the repeal OF the sherman ACT wouid be
much greater. This was the policy decided on
as the best one to pursue and the stories Of any
ruction in the cabinet unfounded
THE KENTUCKY VIEW or II.
Mr.. o. o. stealey last nigh. teIesraphsd 70
the Louisville Courier-your.aI as follows:
.'wall street made big play today aud took
all Of the free gold out Of the
treasury. Still the government ct WASH
ington lives and there il no danger OF q
panic or q financial crash that will hurt the
people. II one should come the New York
sharks would hold the Rot end OF
the poker. The cabinet meeting today
lasted three hours and the MT
most.narmony prevailed Inc wholo financial
situation was carefully gone over and fully
discussed. The only thing definitely settled
was that Sherman notes Of 1880 would not
be paid in silver. but gold coin. The reserve
fund Of $i00. 900 900 will be used or SO much Of
ii as necessary, to tide over the present
emergency, Wall street viii be
watched closely next week and
il it pursues it's present course to embarrass the
treasury, definite action will be taken by the
government to prevent any discredit Of Its
money abroad The only fear here is that the
bold game being PLAYED by the Wall street
spectators will affect American securi-
ties in Europe and bring bonds here
for gold. The government will not
borrow gold and pay premium .
upon 1t until it is forced to do so by the gravity
of the situation. That IL to say that bond
issue will be made only a. Q last re-
sort Secretary Carlisle is still firm against
issuing bonds and thinks that he
will get more gold next week than he will pay
ont. The fact that all OF the free gold was ex- |
hausted from the treasury today and yet caused |
no financial disturbance in the money market \
IL regarded q good sign.
II it was only question Of issuing |
fifty million 4 per cent bonds, that might be |
done to bridge over the temporary trouble, /
but it is not. That which is worrying |
the administration is that IL Wall street /
can force the government to issue bonds
- A. IL. 49, - II