The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-18
OPPOSED TO ISSUING BONDS
Mr.. Carlisle Thinks II Would Be Better
to Dip Into the Gold Reserve.
Selling ROnds-0nly $l0.56O Free Gold
Left-Views of New York Bankers.


The Treasury Stock of Free Gold Down 60
$40. 560-Carlis,e and Cleveland Differ.
WAsHINGroN. April 1.-THE Treasury
Department was advised this afternoon
that during the day 81. Isl. 600 In gold had
been withdrawn from the New YORK sub
treasury for shipment to Europe to-mor-
row. The day begun with 81. $50 in free
gold in the treasury. Deducting the
amount saken out there is now left s4o.56o
Of free gold in the treasury. Treasury OFF,
Gals are encouraged to hope that by Satur-
day. the next shipping day. the free gold
may be increased to Q sufficient sum to
meet the export demand. Mr.. Jordan is
expected to assume charge of the subtress-
ury next Wednesday. and his we'll known
resources are ex peoted to show in the in
crease of gold holdings.
The policy to be pursued by the Treasury
Department regarding the financial situa-
ton was probably determined at n CONSUL
tation held this afternoon between Secre-
tary Carlisle and President Cleveland. All
Efforts to learn the result of the conference
have thus far failed. The Star says:
Mr.. Carlisle is understood to be opposed to The
Issuance OF bonds for the present, at least 1t is
his Judgment that IL would be preferable 70 util
lie portion OF the gold reserve fund until 1t be-
comes apparent that the issuance OF bonds is an
absolute necessity. Among the officials OF the
Treasury Department not the least fear or appre-
henslon Ii expressed or any financial embarrass-
ment growing ont OF the gold shipments They
are satisfied, they say, that the shipments are
being forced by those who would be benefited
by the Issue OF bonds. and that as soon brokers
and bankers are positive that their attempt TO
force the issue OF bonds will be useless just SO
soon will the gold shipments cease. Seere-
~
line his future financial action, preferring
to await the arrival OF the emergency
before Indicating what he would do 1t will be
remembered that when Mr.. Carlisle assumed
control OF the Treasury Department the free
gold was reduced to very small figure. The
the demand at that time he can do SO again. Ii
Is understood that there is some difference OF
opinion between President Cleveland and Mr..
Carlisle TO what course should be pursued, the
President rather leaning toward an issuance OF
bonds should the free gold De entirely exported.
while Mr.. Carlisle feels that 1t would be better
emit portion or the gold reserve.
which he believes the Secretary of the
apparent that the exports were to continue in
large amounts he would then probably consent
10 the bond issue. In the order OF the secretary
Gates be issued at present, Mr.. Carlisle is consld-
cred TO have an excellent precautionary meas
ure. and the action is generally commended.
There are three things which can be done.
0ituSE UcuQo eau DO lseu6O. tuc SOlQ IcocENo
utilized to such point that 1t is not con-
adhered advisable 10 utilize any more of 1t.
or the coin certificates might be paid In
silver dollars, instead of gold, as Is now
done. Ii Is likely that the latter course
will be adopted. should the emergency
arise. 1t is thought. however, that
If the present month can be
tided over that the i'm me iai situation VIII
assume u different appearance. Most of
the spring importations have been made
and the travel of foreigners to this country
will soon begin. The number of persons
who usually GO abroad each summer will
DO greatly reduced on account of the
WORLDS fair. and. on the other hand, citi-
Zens of foreign countries are expected to
visit this country In large numbers, and
viii undoubtedly spend great deal of
money while here This. it is believed.
wIlIreadJust the balance of the trade. If
the predictions and beliefs of some of the
treasury officials is fulfilled. the gold ship
ments will probably cease by the end of
the month, and the amount of free gold in
the frea6urv again inoreaae