The state chronicle., 1893-04-22
WILL TAKE A RESI-.
Mr. Cleveland VIII Walt for Office
Seekers to Thin Out.

seekers to Thin Out.
By Southern Associated Press.
WASHINGTON, April 21-It was
stated by gentleman whose posi-
ton gives weight to his words, in
explanation of the delay by Presi-
dent Cleveland in making appoint
ments, that none would be made
until after the pressure by appli-
cants is relieved by their departure.
At a cabinet meeting this morning,
at which ell the members of the
cabinet we're present, with the ex-
ception of Herbert, of the Navy De-
partment, the financial situation,
it is understood, was almost the ex-
elusive topic of discussion. The
meeting lasted for two hours and a
half and was the longest session of
the cabinet since the new admins
tration came into power.
When the Treasury department
closed its doors this afternoon the
gold reserve of 500, 10000 had
been invaded to TIE ltent of $2,-
100000 to $3,0O0,000. When the
day opened there was in the Treas
ury $195,O0O of free gold. This
amount was increased by gold offers
from the west aggregating about
$1,25O.O0O. The large shipments of
gold from New York, amounting to
more than $5oOO.00O, cut this down
to such an extent that when the
cabinet met Secretary Carlisle found
that orders gold up to that
time (about l o'clock) had wiped
out free gold and invaded the gold
reserve to the extent of $2,557 900.
As far as it can be officially ascer-
tanned this is the amount taken out
OF the gold reserve today for export
tomorrow, although it is un-
officially stated that 100000
in gold exclusive of that taken
, out at New York had been with.
: drawn from sub-treasury at Boston
} for export to Canada. If so, this
> would make about $6,O0O,OOO ir
t gold, taken out of the country fol
t shipment tomorrow and leave goli
3 reserve invaded to extent of 81 1000,
Q 600, or total gold in treasury a
Q $96,0OO,000. It is believed tha
: this invasion is but temporary an
q that within few days the deplete'
}, reserve will be restored to it
o original figure $100,00O.OOO. Will
Q nothing official in shape of an orde
Z can be obtained here as to decisio
q of treasury department in regar
to payment in gold of the treasur
notes of so the fact that these note
are being paid in gold upon pr
sentation proves conclusively th'
g. they will be redeemed as herett
N fore.
(. The construction placed ups
g. Secretary Carlisle's statement, give
OF to the press last night, was tn
a when he reached the limit of Il
'l- gold reserve he would exercise b
at discretion and pay tnis class of not
as when presented for redemption
es silver. To this extent only are t
n occurrences Of today surprise.
og is the opinion of some Of the nc
he conservative fnanciers in the Tres
nd ury Department that this action
lis the government in continuing
en- pay the notes Of 1890 in gold mr
lty inevitably lead ia the near future
lie bond issue as the rate of exchanl
he which is today 400 to 4OO4, the hig
er- est it has been for eight years, a
by would Of itself, were there no {
sse traneous causes. lead to q large {
to port of gold simply for commerc
om purposes. It is calculated that
ne gold shippers at the present rate
lth exchange make five cents on eve
'le' twenty dollars of gold exported a
the balance of trade largely agail
US and likely to continue SO,
Pc rate of exchange will also proba'
,Ae remain high and gold shipme
lay continue for some tins to come
ol until the balance OF trade chan
iiu in our favor.