The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1894-09-19
COMING SILVER.
Mr.. Carlisle Has the MINIS Run
ing on the Seigniorage. He is
Coming Back to his Old Love.
Nearly Three Quarters of a Mil
lion Coined During Last
Month.
DONE UNDER EXISTING LAWS

WASHINGTON, Sept.-Secretary Carls-
les heart seems to be warming again TO-
ward his old love-silver. Mr.. Carlisle
is now demonstrating that he is decided
ly more favorable to silver than he was a
few months ago. / was at the treasury
department to-day and learned officially
that he is now rapidly coming the silver
bullion purchased under the Sherman
law, The seignorage he is covering in
to the treasury. But here is full state
ment, which explains what the secretary
of the treasury is doing. II is from a
high official of the treasury department
and may be considered official:
"The minis at New Orleans, Philadel-
phia and San Francisco are engaged in
coming standard silver dollars from the
bullion purchased under the act of July
"a, 1890, commonly known as the Sher-
man law. During the month of July
$4,000 was coined and during the
month of August $4,000. About the
same amount will be coined during the
present month, September, and there
after such amount will be coined as the
secretary may consider advisable under
all the circumstances. The third section
OF the act of July Il, 1890, provided
that the secretary of the treasury should
coin each month into standard silver
dollars 100000 ounces OF the silver bull
lion purchased under the provisions OF
that act until July !, 1891, and thereafter
he should coin of the silver bullion pur-
chased under the provisions of the act as
much as might be necessary to provide
for the redemption of the treasury notes
issued in payment for the bullion, and
that any gain or seignorage arising from
such coinage should be accounted for
and paid into the treasury. The coinage
now going on is done under the authori-
ty conferred by this section of the law
and the seigniorage derived from it is
paid into the public treasury as required
poses of the government; but the re-
mainder of the coins are held in the
treasury in order to provide for the re-
demptiOn OF the treasury notes issued in
payment for the bullion. During the
last eleven months 3,970,727 standard
silver dollars coined from the bullion
purchased under the act Of July II, 1890,
have been paid out in the redemption of
treasury notes and the notes so redeem
ed have been retired and cancelled. The
process is still going on daily. Prior to
Mr.. Carlisle's connection with the de-
partment no silver had been paid out for
the redemption OF such notes and none
of such notes had been retired and can
celed."
The above would indicate that Mr..
Carlisle is more favorable to the white
metal than the general acts OF the ad-
ministretion would indicate. Though
Mr.. Cleveland vetoed the bill to coin the
seigniorage it will be observed from the
above that Mr.. Carlisle holds he has
the authority to coin it and turn 1t into
the treasury, and he is doing it. have
it officially that he will go right ahead
coming silver bullion until every ounce
purchased under the Sherman law has
been coined. All over and above an
amount sufficient to redeem outstanding
coin certificates, dollar for dollar, will be
covered into the assets of the treasury
and used for the regular expenses of the
government. In other words the seign-
forage will be the governments gain, as
was contemplated in the seigniorage bill
which Congress passed and MIR. Cleve-
land vetoed