Waterbury evening Democrat., 1893-04-24
HE SPEAKS AT LAST
The President Defines the
 Governments Policy.
IT IS THAT OF GOLD REDEMPTION

Does Not Want the People to be DIlsln-
 formed Through Wrong Newspaper
 RepOrts-Secretary Carlisle Stm silent
 Plenty of Gold Now.
 WASHINGTON, April 24--The fact that the gold situation has taken a sort of a turn for the better, at least for the present, some Western banks having supplied enough of the yellow metal to make the $100, GOO, ,00O gold reserve intact once more, coupled with the fact that sensa- tional reports have been published by some newspapers, has had the effect of bringing out, statement from President Cleveland. He hadup to this time abso- lutely refused to talk on the subject. Sec retary Carlisle. however, still declines to discuss the sisuation. The President said;'
 "The inclination on the part of the public to accept newspaper reports concerning the intentions of those charged with the management of our national finances seems to justify my emphatic contradiction of the statement that the redemption of any kind of Treasury notes except in gold has at any time been determined upon or contemplated by the Secretary of the Treasury or any other member of the pres- ent administration. The President and his Cabinet are absolutely harmonious in the determination to exercise every power con- ferred upon them to maintain the public credit, to keep the public faith, and to pre- serve the parity between gold and silver and between all financial obligations of the government
 "While the law of 1890 forcing the pur- chase of a fixed amount of silver eve ry month provides that the Secretary of the Treasury in his discretio ion, may redeem in either gold or silver the Treasury notes given in payment of silver purchases, yet the declaration of the policy of the govern ment to maintain the parity between the two metals seems so clearly to regulate this discretion as to dictate their redemp- tion in gold.
 "Of course perplexities and difficulties have grown out of an unfortunate anan- cial policy which we found in vogue and endorsements have arisen from ill-ad- vised financial legislation confronting us at every turn; but with cheerful confidence among the people and a patriotic disposi- tion to cooperate, threatened dangers will be averted pending legislative return to a better and sounder financial plan. The strong credit of the country still unim paired and the good sense of our people which has never failed in time of need, are at hand to save us from disaster"
 It Is well understood in official circles that 1t Is Secretary Carlisle's intention tC continue the policy now being pursued oi paying out gold for the Treasury coin notes. This sharp change of policy was largely due to the advice of Assistant United States Treasurer Conrad N. Jor- dan, who saw the President when he came here to file his bond...
 MT. Jordan told MT. Cleveland that the New York bankers were disturbed at the apparent purpose of Secretary Car lisle to redeem the Treasury notes in silver only. This, MT. Jordan said, had created great uneasiness in financial circles in New York, and was looked upon there as 7s most serious mistake. He called MT Cleveland's attention to the fact that f' was not the Wall street speculators whC were interested in this, but the big bank ing and financial institutions of tht | greatest money centre of the country institutions which were probably more in terested in maintaining the public credi I rhan ony one else.
 It can be stated on the authority of Cabinet officer that as matters stand to day no one here expects a bond issue. Al least $30, ,000, 900 in gold, this official said would come to this country within few weeks after the Worlds Fair opens, ant that besides this there was more thai | $700, ,000, 900 of gold scattered about tn | SOuhOAg. 4hC etCIlOh LII Ouo " OSOSAl
 banks in coming to the relief of tn
 government, this Cabinet officer be lieves, is a sufficient guarantee that plent
 of gold will be placed at the Treasury disposal to carry it through.
 This Cabinet official, although from tn
 East himself, seemed to have considerable
 feeling against the financial institutions 0
 New York. He said that within the nea
 future the country would probably see tn
 West coming to the aid of the govern
 ment to save the country from the East.
 MT. Carlisle pooh -poohs the report tha
 he intends to resign, and two or three .
 his colleagues are inclined to ridicule th
 idea that there is misunderstanding or an.
 i'll feeling between the President and hi
 Secretary of the Treasury. 14
 There is question as to the authorit
 of the Secretary of the Treasury to issu
 bonds under the present circumstance.
 and, although the decided weight (
 opinion lies in favor of the proposition,
 should also be borne in mind that if til
 Secretary decided in the affirmative,
 is still bound to issue only bonds of u
 old rates, namely 4, 4 1-2, and 5 per cen \ instead of per cent bonds"