The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1894-12-25

crnme at ior when gold may be dc
mandcd, and curiouslv enough the
/ law requires that when presented and
/ in fact redeemed and paid in golC
/ they shall be reissued. Thus tho
same notes may do duty many time.
in drawing gold from the treasury
/ nor can the process be arrested rs
/ long as private parties who profit 10y
/ " or otherwise see an advantage IN
repeating the operation More than
/ $500 600. 600 OF these notes have al
ready been redeemed i'm gold and, not
withstanding such redemption. they
are still outstanding.
Since the 18th day Of January, 1894
our bonded interest bearing debt has
been increased S10J OO) 900 for the
purpose OF obtaining gold to replen.
ish our coin reserve. Two issues
were made. amounting TO $50 600 OOO
each-one i'm January and the other
i'm November As "a result Of the first
issue there was realized something
more than $50, 600 600 i'm gold. Be
tween that issue and the succeeding
one in November, comprising a period
of about ten months, nearly
SlO3, 100000 in gold were drawn
from the treasury. This made
the second issue necessary and
upon that more than SIS. 600. 600 in
gold was realized Between the date
Of this second issue and the prese mt
time, covering period Of only about
two months, more than SO, OOO 600 in
gold wer, expended without any can
collation. Of government obligations
or i'm any permanent way beuefting
our people or improving our pccuniary
situation.
CONDITIONS OF DEEPEST GRAVITY.
The financial events Of the past
year suggest facts and conditions
which should certainly arrest atten-
ton More than Sl72 900, 900 in gold
have been drawn out of the treasury
during the year for the purpose of
shipping abroad or boarding at home
While nearly slO3 OO) 900 of the
first ten months of the year,
sum aggregating more than
two-th:ris of that amount being
about $40, 900, 900. was drawn out dur
ING the following two months, thus
indicating a marked acceleration of
the depicting process with the lapse
of time. The obligations upon which
this goll has been drawn from the
treasury are still outstanding and are
available for use I'm repeating the ex-
hausting oosration at shorter inter
walls as our pcrpleNiti,s accumulate.
Coud tions arc certainly superve n
ing to make the bonds which may be
issued TO replenjsh our gold less use
full for that purpose.
An adequate gold reserve is in all
circumstances absolutely essential to
the upholding # our public credit and
TO the maintenance Of our high ma
tioual character. Our gold reserve
has again reached such a stage OF
dimiuution as TO require its speedy re
enforcement.
cannot see that difference OF
opinion concerning the extent tC
which silver ought to be coined or
used in our currency should Interfere
with the couusels OF those whose
duty it is TO recufv evils now appar-
cnt in our financial situation. They
have to consider the question Of ma
tional cred and the consequences
that will follow from its collapse.
NOT QUESTION As TO SILVER
Whatever ideas may be insisted or
as to silver or bimetallism, a proper
solution of the question now pressing
upon us only requires recognition o
gold as we'll as silver, and conces
sion Of its Importance, rightfull!
or wrongfully acquired, as
basis of national credit -