The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1894-01-20
The TREASURY SITUATION
Funds Low and Something Must
Be Done Quickly.
The Administration Is Determined to Ac
Promrtly-Carlislc May Avail HIM
self OF the Authority Given
by the Act of 1875.

WASHINGTON, Jan. l5.-Some definite
action to replenish the gold reserve in
the treasury must be taken within the
next few weeks. If congress does not
TAKE kindly to the suggestions of Score
tary Carlisle in his annual report and
provide at once some means of relief
the only course left the officials Ct til.
treasury department will DO fer the sec
rotary to exercise the authority granted
him by the law Of 1875 and issue bonds
for the purpose Of maintaining the gold
reserve. The position which confronts
the administration is one which they
have decided to handle with prolnptness.
All the available money in the treasury
department consisted of wat is called
'sgcld reserve" which has now been i'll.
vaded $40. 900, 900 and by the first of the
month the treasury department be.
lieves the total amount will have been
reduced to Ss5, 00o,0 900. Such a situa-
ton. it is thought, would again start q
movement of gold toward Europe.
which would still further reduce the
amount of gold he'll by the United
States.
Carlisle on the Financial Situation.
Secretary Carlisle has twice appeared
before the committee on finance and his
presentation of the case to the members
of that committee has been clear and
explicit in the statement Of the situa'
ton. When he next appears before the
committee, it is probable he will en-
phasize his argument by the presenta'
ton of u carefully prepared statement
on the condition in which he finds the
national finances as well as the methods
proposed by him to afford relief. Mr..
Carlisle proposed that congress shall
deal with this matter, but if congress
fails within three or four weeks TO
show any indications that it intends tc
aid the secretary, it is known he will
be forced to avail himself of tho author
ity granted him by tho act of 1917 and
issue bonds necessary to repleaish the
gold reserve. 1t is because Mr.. Car.
Isle desires that congress should first
act that be has thus far made no pre-
paration for all issue of bonds aud all
statements to the effect that orders have
been given the bureau of engraving for
printing plates, are pure fabrications
and absolutely no action has been taken
and no plans deciled upon.
Attitude of the New York Banks.
This much can be officially stated, the
attitude of the New York banks, as ex.
pressed in recent publications in regard
to tho furnishing of gold for export
should such a necessity arise, has poss.
-
bly, had some effect in Strengthening q
feeling that the government should is.
sue bonds to protect the gold reserve. II
Is denied, however, that any agreement
ever existed by which the bonds were tc
furnish gold.
A prominent Democratic senator said
Sunday Secretary Carlisle would not al.
low the gold reserve to fall below $50,
300, COO, and should the reserve be re.
duced to nearly that point before con.
gress acted, Mr.. Carlisle would immedi-
ately declare an issue of bonds.
When this statement was shown to
Chatrfnah Voorhees,, of the finance com.
mittee, he declined to verify it, only say.
ing: "The secretary has the authority
and the disposition to protect the credit
Of the government, and | have no doubt
he will act promptly and effectively if
the emergency should arise"
Senator VOORHEES, does not deny the re.
port that he is preparing a bill to meet
the emergency, but this statement would
seem to indicate he does not expect TO
be called upon to formulate such a
measure.