Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1893-04-26
OVER THE DANGER LINE.
Exporters of Cold Succeed in Breaking Into
the Treasury Reserve Fund.

UIiO OoOuI hOOOi w ! ulIu'
WASHINGTON, D. c., April 22.-When
the Treasury department closed last
night the gold reserve had at last
yielded to the assaults of the gold ex-
porters andzhad fallen to $97, 900 600.
Nothing very serious has happened to
the market or to the public but the
sensltiveness of capital to this passing of
the danger line was exhibited in the
prompt calling III of loans and the ad-
vantage of rates. The intention of
this administration was from the begin
ming to avert if possible what has hap
pened. 1t was the study of the former
administration to escape the response
bility of having to declare that 81 of
United States money was better than
another. 1t was believed under Presi-
dent Harrison that if the $780,
100000 gold reserve was touched
there would be premium on
gold, and this would make gold dollar
better than silver dollar. In order to
avert this supposed danger bonds would
have been issued by the Republican sec
rotary OF the treasury, and it is matter
OF history that the plates were prepared
1t IS the belief of most experts in
Washington, whether true or false, that
the gold shipments Row in progress are
intended to drive the government into
an issue of bonds, and the administra-
ton has permitted the operation to
proceed to the very last ex-
tremity without yielding. Instead
OF having but $l,O00,000, or a few
hundred thousand dollars in free gold,
the treasury can now claim to have $97,-
600, GOO in free gold. This is not a fair
way to put it, bnt with the danger point
leaped over, it does not make very
much difference wheather there is S99,-
OOO,OOO, $50 100000 Or $50, 000,0 900 of gold
on hand.
New YORK, April GA calmer air
pervaded the sub-treasury and its
neighborhood this forenoon. The posi-
tive knowledge that the government
had met all demands in gold yesterday,
that there had been no discrimi-
nation between treasury notes
and greenbacks, and the appar-
emily firm belief that this course
had been adopted in obedience to the
wish of President Cleveland, in pursu-
ance of the fixed policy of the govern
ment to maintain the parity between
gold and silver, evidently had a sooth-
ing effect and there was good deal
less sensational talk around than
there was yesterday. This was
also, of course, partly due to the fact
that gold is not as a rule drawn on Sat
turdays for shipment, although there
was an exception even to that rule to-
day. AT 1920 o'clock it was said by
Mr.. Muhleman that 100000 gold had
been ordered to-day. AS an offset to
this, however, it was said that it
was known that 100000 in gold
was going to be sent into the sub-treas-
ury to-day. There were also rumOrs
that some gold taken yesterday might
be returned to the treasury on Mon
day if the situation should he still
further improved. The actual con-
dition of the United States treas
ury could not be accurately stated
here this morning, because it was
not known how much had been paid out
or received at other sub-treasuries.
Conrad n. Jordan, the new assistant
treasurer, was not expected at the sub
treasury to-day until later in the day.
His bond has been approved of, but he
was not to take charge until after the
close Of business. He will hold
an informal reception this afternoon.
Estimates place the shipments &C gold
by next Tuesdays steamer at 50, 100000.
Heidelbach, Ickelheimer & Co., as al
ready stated, have ordered $3.50, 900 gold
at the sub-treasury and have paid for it
in greenbacks and 100000 in treasury
notes. Ladenburg, Thalman & Co. will
ship 100000 on the day named. This
is all that has been positively engaged
tb11S for