Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-04-21
TREASURY SITUATION
STATEMENT FROM SECRETARY CAR
Isle ON THE SUBJECT.
"GoId Enough ia the Country to Meet
All Requirement" "-Governmsnt
Credit to he Maintained.
[By telegraph to tho Dispatch. J


WASHINGTON. April 20.-Secretary Car
Isle tonight made the following state
ment regarding the financial situations
/ "In the exercise Of the discretionary
power conferred upon the Secretary ot tho
Treasury by the act of July "A, 1890, he
has been paying gold for the coin Tren-
sury notes issued for the purchase Of sill
yer bullion and no will continue to do so
a. long as he has gold lawfully available
for that purpose. Under this process
the government has been, and il now.
paying gold for silver bullion and storing
silver IN Its vaults. where II Is
rs useless for any purpose of circulation
| or redemption a. iron. lead. or any other
! commodity. The government, IN the first
place. issues n coin Treasury note IL pay
ment for silver bullion, and then the com
treasury note is presented at sub-lrea-
surv and the gold IS pad out for II; so
that the effect Is precisely the same as II
| the gold were paid directly for the silver
in the first instance. About SNO000O OF
the gold which was withdrawn from the
] New York sub Treasury Mast tuesday Tor
! shipment abroad was paid out on these com
| Treasury notes. No order has been made
/ TO stOp the payment of gold upon these
notes, nor has any ono been authorized 10
| say that such an order would be issued.
! The purpose of tho government To pre-
| serve its own credit unlmpalred and main
| tain the parity of the two metals 10y al
! lawful means will not beabandOncd under
/ anv circumstances. Ia view OF existing
| legislation the only question Tor con,lde-
ration IL "a 10 the measures that ought e.
! bp adopted 20 insure the ACCOMPLISHMENT
! Of these purposes. and upon thls question
! there l.. of course. room Tor wide dl3er-
Cnces OF opinion.
STOCK OF GOLD.
The total stock Of gold coin and gold
! bullion now in this country, including
! what Is held by the Treasury as well as
/ what Is held by the banks ana individuals.
amounts 70 about ~iW.OJo,Ou0 When /
| came into tnc Treasury Department On the
/ eth day OF March the amount of free gold
! on hand had been reduced 10 S957,Oj1, but
bv arrangements with western banks it
! wa, increased until. On the lst OF April, 1t
! amounted 10 nearly =, 900, 00O Then heavy
! shipments began 70 be made, and two DAYS
ago We had only about $4,000, but now
! the amount Il 1sSj,00J, after deductlng
| what has been withdrawn from the sub
Treasury to-day FOR Shipment. Arrange
! ments are now IN progress by when more
gold IS TO be- procured from the West, and
hope that a sufficient quantity Will be Sc
cured 10 keep the gold reserve intact.
lHfIf Il ~hiu thOuE II III t-4N ''Nt4Ntf ~
meet an the requirements of the situation,
and Il ali who are really interestedi IN man,
! tanning o sound and stable currency would
assist the Secretary Of the Treasury 20 the
| extent Of their abilities. tue existing dlIh-
culties would soon be removed
GoLD CERTIFICATES BEING OFFERED.
In addition 20 tins statement Secretary
! Carlisle -aid that $500 .Oo0 in gold had been
taken out of the sub-Irea-ury in New
! York today for export. The class OF
money paid into the sub-Treasury for tho
gold Withdrawn included @i01.)OO in gold
certificates, which, 10 that amount, did
not reduce the gold reserve, because they
themselves were practically gold. So the
actual gold reduction of the day was only
100000. leaving the balance as stated
above.
This is the fret considerable amount OF
gold exported for many wears. and en-.
courages the Treasury officials b hop'
thai the banks seeing tho situation, will
continue @ present gold certificates. n
part payment NJ least, for the gold with
drawn for export.