New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-14
WILL. 1T MAINTAIN THE RESERVE?
SPECULATION IN WASHINGTON ABOUT THE BoNI
sYNDICATE's COURSE.


TBY TELEGRAPH TO THE TRIBU"E.1
Washington Sept l3.-Wil the bond syndicate
consent and be able maintain the gold reserve at
s1O0 900 600 until October without quid pro quo In
the shape of a new issue OF United States bonds at
o4 and II so, will II continue TO maintain the re-
serve on the same terms until after the November
elections? This question is the tongue OF every
body in Washington who is careful observer OF
the financial condition and operations Of the Ma
tional Treasury Despite all attempts 10 conceal
their anxiety and solicitude under expressions OF
confidence and hope, 1t Is only too apparent that the
officials Of the Treasury Department. from Secre-
tary Carlisle down. have begun to regard the pros
meet as a gloomy and uncertain one. The informa-
ton received from New-York to-day that notice mad
been given OF further Withdrawals Of gold for ex-
port amounting to 3i.2O0Oo, OF which more than half
was by a firm that Is member OF the syndicate.
seems to have been unexpected as 1t was disagree
able and dsheartening and the effect Of It was
scarcely modified by a report. which could not be
verified, as late 2:3o O'Clock that the syndicate
would deposit Sc 100000 OF gold before the close OF
business hours to-day, although such deposit would
have carried the reserve AO0o.OW above the slW"~'-
900 mark In commenting on the situation one
Treasury official remarked:
"On the face OF the matter II might look as though
there had been a disagreement among the members
Of the synd,cate some of whom were disposed to
play for another issue Of bonds under the option
which will expire October l. ! do not tnink now
ever that such is the II the agreement 10
maintain the gold reserve should be carried out IN
good faith until that date. and another issue OF
bonds should then be found necessary the syndicate
would obtain the benefit Of 1t. In all human prob
ability because II does not seem to be In the least
likely that the Secretary Of the Treasury would be
able to sell new bonds in October or November Tor
a higher price than he obtained in February.
"In other words the February contract. In your
opinion fixed the highest price at which United
States per cent bonds be sold by the Secretary
OF the Treasury this year" The Trioune's CORE
spondent remarked.
Yes and until some further legislation by Con-
grsss" was the reply. The official added:
What the Government needs and mus; have in
my opinion In order to protect its gold reserve. Is
sufficient revenue TO meet current expenses.
He also expressed the opinion that the receipts for
the current month would equal the August expen-
ditures. and that the total excess OF expenditures
receipts for the hrst eleven months Of the cur
The LIVth Congress viii assemble-wouId not
amount to than 500 10000 but he not Will
ing TO hazard an opinion as to the probability OF
10 protect the gold reserve.
The Treasury statement for to-day showed
from customs. s5S $50 from internal taxes and the
remainder from miscellaneous sources. The expen.
$3.50 1877 The total receipts for the first thirteen days
OF the current month have amounted to S s2 "a lss 90
internal taxes and the remainder from misceliane-
I The eSpsndtsrsss M have n %
expenditures over receipts since June 80 has amount
ed to Ns%7ss The total receipts for The "a FIRST thir;
for the first thirteen days OF August to 2oil29 as
compared with sl2issO7o for the first thirteen days
for the same periods amounted to s. 537 in July
g. 2s5 o5a In August and @si&S1S2 & IN Sep'emoer ana
GTRusi. and S. 800 in September II viii be noted
that the receipts from customs for the first thirteen