Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-08-20
cAnLIsLE'S PLAN
TO SOLVE THE DIFFrouLr FL
NANoIAL PROBLEM.
Transfer OF the Purchased Bullion to
the silver Coinage Fund and tho
Issue of Certificates Against It at
Its coining Value Suggested.

WASHINGTON. Aug. 1o.--sccretary
Carlisle is considering a plan to relieve
the threatened deficiency In the treasury.
get rid OF the accumulation Of COCO tons
OF silver bullion and supply the country
with Sih0,0OO.OO0 OF new currency. IL
was under discussion today at the treas
ury department. and is likely TO soon be
htought In a formal manner before con-
grcss. The cash balance in the treasury
dropped another S5OO,OOO today and
stood at Siii,IGD.T03. OF which $io1, .i5a.-
100 was in the gold reserve, The con-
staut fail in the cash balance has attract
cd the attention Of Secretary Carlisle,
aud he discussed the matter today with
Assistant Secretary Curtis. Treasurer
Morgan and several other officials, and
afterwards hold conference with sew
cral prominent Democratic senators, aud
thus brought the subject under general
discussion
One OF the plans for meeting the de
tciency In the revenue suggested at
the treasury department was the issue
II temporary loan certificates against tho
future revenues. These arc regularly is
sued by the British government aud arc
readily placed with the public becausD
the Interest paid is l per cent or more
above the discount rate OF tho bank of
England. II the needs OF the treasury
were HE only element ia the situation
Il is quite probable that this method Of
providing funds would be adopted, for IA
seemed TO commend itself strongly to
AIR. Carlisle when suggested 10y one OF
his subordnatcs. The need Of more eur
renuy, however, and the growing bitter
hess between the two factions which
are now facing each Other la the Rcnntn-.
one lavoring absolute repeal OF the silver
purchase law, aud the other free coinage
OF silver makes the alternative
plan very attractive 30 MIR, Carlisle, aud
u II secures tho approval OF President
Cleveland II II likely to be promptly ole
fered on the iloor of the senate.
MODIFICATION OF A COAlPRO.
MISE.
lOe plan under consideration Il n mod
ihcation Of ono of tie cOmpruniisea which
silver mon have alrrndy suggested. it
involves the Immediate transfer OF tho
silver bnllinn purchased under the Sl.r.
man act 10 iin silver coinage fluid aud
t,le Issue OF certificates against the big
PILE Of silver at It's colning value. The
cost Of this silver M 60 July 81 wna
Sl4S,2tb,HSi, but the coming Value at
the present ratio of 10 to | Is consider
ably greater. IL would not ba possible
for ihe lninM 10 coin the accumulated
allvcr bullion In less than Ave years, in
connection wlth other necessary cOluage.
unless the capacity of tho mint Hhouli
be Increased, but the prompt action BY
congresa would authorize the issue of
silver certificates of tho same denoniina-
tiona and character as those issued uu.
der the Bland law. aud their Immediate
circulation.
II would not oven be necessary 10 pn,.
pare new plates and diua, Tor the new
rrun9ntcs would be q continuation Of
The oil issue aud could bp printed from
The anne forms. Even better lknn this.
many OF the notes arc already stacked m
IN Tue treasury awaiting to be sensonel
thd could be paid out before the ihk was
NY on NE signature Of tho president APP
proving the now legislation. II might
not No thought wise to issue tho enilre
amount at once, aud the ordinary obllga-
Tons OF the government would call for A
very small pliT Jf II, but the redemp.
aon Of outstanding bonds. which ceased
,h YEAR. hso, could be begun again and
now currency, IL would ba currency rest
Ing upon silver. but tho government al.
ready owns the silver, has no use FOR IL
under existing laws aud will buy no mors
-. WV Fh'iHhh u'i ~ TtpNucn. 1ne usO
OF SILVER IN this manner would NOT I'M
pair the security OF the Sherman nOtcs.
for they have bron treated from the be-
gitnlnF M gold notes secured by the
gold rercrye.
WOULD INCREASE TH0 GOLD RE
SERVE.
Tho gold reserve. IN the Oplnlon OF cx-
ports IN tho treasury department aud Ia
tho sennte, could be rapidly built up In
the department had soma new pnper s-ir-
fency TO issue In exchange for gold Two
reach the treasury from ovcry
sourcc-that the banks and the people
want currency, mud they do not want
gold. Tie currency balance has been 40
reduced that gold IN now being paid out at
all but one Of tho subtroasnrles, and n
coming buck Agnin because Ii
u 80 incOnyenicnt 90 handle IN the Onli-
nary transactions Of business. II ~
argued that " the government had fifty
millions or twenty-five millions Of now
currency " could build up It's gold fund by
lust that amount and DO IN stronaer
position than Tor many months TO meet
luiiIrr deinnI1g for fhe yellow metal If
he strengthening Of the gold reserve were
needed 10 keep aifoit the sherman nob.s.
I IL declared II would he obtained nv
lust the process proposed.
II viii not be surprising IN an amend
nent carrying out the proposed plan. at
east 20 Il part of tho amount IN fire
treasury. u offered on tho floor OF die
ieiintr with the approval Of the finatsre
'0muiltteo TO the bill now pending 10 l,x-
innd the circulation Of tho national
iank5.