Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-09-18
A, CARLISLE ON COINAGE
/. .uows THE STOCK OF SILVER
7 DECREASING.
results since the Repeal of
I. sherman Act-A statement OF
4. FUND Now in the National


y. ,hlngton, Sept. l7.--Secrctary Car
to-day made statement concern
~ colnage Of silver dollars under
.amlhistration. the coinage being
Ar the unrepealed portion OF the
Imam act. 1t seems that since the
.,pIstratior came into power. 1884,
,,andard silver dollars have been
IA OF which 520,079 have been
.,iorage. The secretary says: While
!. law provides that redeemed treas
notes may be reissued. 1t also i'm
=. an express Limitation upon the
..r TO reissue by declaring that mo
..,er or less amount OF such notes
,ald be outstanding at any time
N the cost OF the silver bullion, and
standard silver dollars coined there
M then held in the treasury pur-
.sed By such notes" when such notes
redeemed in gold, there is no OBJ
,rle in the way OF their reissue be-
&u,e such redemption does not effect
eIOGh VI 5AANNA htAd AAlt "
|dsr the act of July IA, 1890. but when
III are redeemed with silver centifi-
rs from the bullion purchased UNI
y that act. they must be retired and
<nceled. for otherwise there would be
k,er the redemption and reissue a
sater amount of notes outstanding
an the cost OF the silver originally
trhased and then held by the treas
and this Is expressly prohibited
tfthe statute. The purpose of con-
ess was to prevent the duplication OF
currency which would be the case
the notes and silver treasury notes
slved in the ordinary course of bust
Is or redeemed in gold or exchanged
\ silver dollars not coined from bull
~ purchased under the act OF July
1890, are not retired and cancelled.
such notes are reissued. Prior to
first day of July, 1891 silver d.
Us to the amount Of S36,9lS.264 were
he'd from the bullion purchased un-
\ that act. The so-called gain or
1 gn.orage arising from this coinage
u s5,s67.s0 which was paid into
u treasury as miscellaneous receipts
hying Sss.2i0, 461 to be held as fund
/ provide for the redemption OF the
sasury notes. ms provided by law.
4 At the beginning of the present adj
inlstration this sum of 500, 4S0, l6l was
( III In the treasury and standard silver
9lars to the amount OF 1857, 223 have
len coined since that time. OF this
La utt,
rzge. leaving Sl,077.l44 to be held in
Ae treasury. 1t appears. therefore.
bat the whole coinage under the act
d been $37.9O5.is7 and that the
mount to be held In the treasury for
Exemption purposes was s90,557G05, or
Ms sum. s4.i2l.0O have been used
the redemption OF the notes and
bat amount has been retired and cam
FILED. No treasury note has been re-
rrinsd In silver, unless silver was de-
banded, the policy and practice of the
spartment having always been to re-
ZEN In the kind Of money demanded
" the holders of note. The presenta-
ION Of treasury notes for redemption
4 silver began In August, 1873, when
3Aere was a great scarcity of currency
i small denominations and there was
'sdemmed during that month $l,27S. 267,
fhich Is the largest amount that has
tssn presented during any one month.
Is shown above. there were held in
y treasury at the beginning OF this
faninistration, S29. iS0,46l In silver,
Ened from the bullion purchased un-
n the act Of July II. 1890. Notwlth-
fanding the fact that Si,l57 e2S have
P<sn coined since that time there are
Pow on hand only s26,1S9.72i.