The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1893-04-21
Special to the REcoRD-Ux1ox.

- AN@-NSANA'-
WASHINGTON, April :20-Secretary
Carlisle tonight made the following
statement regarding the financial situa-
lion:
I'm the exercises of the discretionary
power conferred upon the Secretary OF
the Treasury by the Act OF July II. 1890,
ne has been paying gold for coin treasury
notes issued for the purchase of silver
bullion, and he will continue to do so as
long as he has gold legally available foI
the purpose. Under this process the
Government has been and is now paying
gold for silver bullion, and storing the
silver IN vaults, where it is as useless for
any purpose of circulation or redemption
as iron, lead or any other commodity.
The Government, in the first place,
issues coin treasury notes in paying for
silver bullion, and then the coin treasury
notes are presented at the sub-treasury
and gold paid out for it, so the effect is
precisely the same as if gold was paid
directly for silver in the first instance.
About SS0O,OO0 of the gold which was
Withdrawn from the sub-treasury last
Tuesday for shipment abroad was paid
order has been made to stop the payment
OF gold upon these notes, nor is anyone
authorized to say such an order would
be issued
The purpose of the Government to
preserve its own credit unimpaired, and
TO maintain the parity of the two metals
by all lawful means, will not be aban-
doned under any circumstances. In view
OF the existing legislation the only ques-
non Tor consideration is as to the measure
that ought to be adopted in the sure ac-
complishment of these purposes, and
upon this question there is, of course.
room for wide differences of opinion.
THE total stock of gold coin and gold
bullion now in the country, including
what is held by the Treasury, as we'll as
what is held by banks and individuals,
amounts to about S74OO0O,OOO
when l came into the Treasury De-
partment on the 9TH day of March the
amount of free gold on hand had been re-
duced TO S9S7,0O0, but by arrangements
with Western banks was increased. until
on the lst OF April it amounted to nearly
So,OOO,UOO. Then heavy shipments began
to be made, and two days ago we had only
about $4,000, but now it amounts to
SSS5,00O, after deducting what has been
withdrawn from the Sub-Treasury to-day
for shipment
Arrangements are now in progress by
which more gold is to be procured from
the West, and l hope a sufficient quantity
will be secured to keep the gold reserve
intact. There is gold enough in the
country to meet all requirements of the
situation, and if all who are really inter-
ested in maintaining sound and stable
currency would assist the Secretary of the
Treasury to the extent of their abilities
the existing difficulties would soon be
removed"
In addition to this statement, Secretary
Carlisle said that $4,000 in gold was
taken out of the Sub-Treasury in New
York to-day for export. The class of
money paid into the Sub-Treasury for
gold withdrawal included S4O0, 900 in gold
certificates, which to that amount did not
reduce the gold reserve, because they
themselves are practically gold. So the
actual gold reduction of the day was only
100000, leaving balance as stated above.
This is the first considerable amount of
gold certificates paid into the Sub Treas
ury for gold export for many years, and
encourages the Treasury officials to hope
that the banks, seeing the situation, will
continue to present gold certificates in
payment at least for the gold withdrawal
for ayrOrt