The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-04-22
THE FINANCIAL POLICY.
No Clash Between the President
and Secretary Carlisle.
UNFoUNDED RUMoRs DIsPR0VED

The Aim of tho Treasury Department
Will be to Keep the Gold Reserve Up
to aIoo, 900 and to Avoid n New Bond
Issue IL Possible.
WASHINGTON, April 22-The membersof
President Cleveland's cabinet were yester-
day disturbed by the first inquiries as to
rumored dissension in the cabinet, and
designations therefrom as a result Of those
discussions. 1t was stated with great cir
cumstantiality that the president had de- /,
clared in favor of bond issue, and that
Secretary Carlisle had announced his in
tention to resign from the cabinet. This
story can be denied absolutely and un-
qualifiedly on the authority of Secretary
Carlisle and of other members of the cabi-
net, who declared that it was nonsense and
absolutely without foundation.
Secretary Carlisle when asked as to the
truth of reports that he had resigned, was
disinclined to dignity the reports by q de-
NAL, but said:
SIT seems hardly necessary to take up
the time necessary to deny such absolutely
baseless rumors. There is no truth what
ever in it,
Another member of the cabinet said:
"The story is absolute nonsense. There is
no division between the president and the
secretary of the treasury. and 30 far az
have observed between any members Of
the cabinet
It is quite probable that the president
and Secretary Carlisle each having
views of his own, have not agreed entirely
on things to be done in view of the exports
of gold, but 1t can be stated authorita-
lively that these differences of opinion
have never proceeded to extreme lengths,
and that there has been harmony of ac-
tion. The president was inclined toward
bond issue, while Mr.. Carlisle was dis
posed not to resort to one except in the
very gravest emergency, and from this
fact seems to have started most of the
rumors of cabinet dissensions.
The reserve this morning stands In round
| figures at s97, 800 600, having been gone
| into yesterday to the extent of g, zoe, 600 to
| meet the gold exports. The encroachment
of the gold reserve also establishes two
| other points in treasury policy: First, that
| there will be no bond issue as soon as the
free gold is exhausted; second, that gold
payments will not be stopped on silver
notes as a result of the gold reserve hav-
ing to be encroached upon. 1t is said that
the president was opposed to stopping the
redemption of silver notes with gold.
The treasury policy is thus known for
the present, but the future course to be
adopted will have to depend on circum-
stances. Facts that will have most weight
in shaping future policy will be gold
exports and replenishment of the reserve
The aim of the department will be to
build the reserve up again to 100000. If
however, the exports continue to steadily
reduce the size of the reserve there will
then be forced on the consideration of the
government the question whether 1t will
permit this state of things to continue OF
will increase its pile of gold by issuing
bonds That point can be reached in
the reduction of the reserve where bond
issue will be made there is no room fol
doubt. but how much the reserve must
first be reduced IL is impossible to learn.