The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-09
A TREASURY STATEMENT.
Explanation by Mr.. Curtis Regarding
Deliveries of Gold.

WASHINGTON, March S.-Assistant Sec
rotary Curtis to-day made the following
statement: I'm view of certain statements
in the newspapers that treasury officials are
embarrassed by an alleged failure in gold
deliveries under the recent contract and
other assertions of a similar nature calcu-
lated to mislead and disturb the public
mind, l wish to say that the actual with
drawals of gold from the treasury since
the 1st of March, 1885, have been ss55.347,
of which 1921 0s7 have been for the redemp-
ton of United States treasury notes and
$I4,260 for the redemption of United states
notes, divided among the cities of New
York, Boston, Philadelphia, Baltimore San
Francisco, st. Louis and Chicago. These
are no more than the ordinary Withdrawals
which in the past have usually taken place
at this season of the year. Moreover, DUR
ing the same period the treasury has re-
ceived considerable gold coin in exchange
for various kinds of paper currency.
The apparent falling off in the gold re-
serve was caused by misunderstanding in
taking up, in the gold reserve statement Of
the Treasury Department from the daily
reports of transactions sent from the SUBJ
treasury at New York, a large amount OF
gold which had been deposited for exanl-
nation and count. and which should not
have been included in the gold reserve I'M
til the final certificates of deposit on which
bonds could be issued were delivered. The
February figures quoted in some of the
newspapers as withdrawn include the heavy
Withdrawals of the earlier part of that
month before the gold purchase contract
was made, and one single. large item not
MitHuIaWn Tor export, concerning which
there mas been considerable newspaper com
mani
The treasury officials who are charged
with the responsibility of these demonstrations
nave no anxiety whatever in regard TO the
method which is and has been pursued hy
the sellers of the gold coin under the re-
cent contract They satisfied TO con-
template the fact thar for five weeks the
Withdrawals of gold coin have not exceeded
the normal amount. with the exception OF
the instance quoted above. and that no ex-
ports of gold whatever have been made
during that time. The fact is that fully. So
000,0O0 III gold has already been deposited
on the foreign account in excess of the CON
tract requirements.
I'm regard TO the excess of government
expenditures over receipts il Is well known
that the latter are rapidly increasing and
that up to this time nothing has been re-
ceived from the income tax and very little
from the sugar duty. Both will be inpor-
tant elements Of receipts in the near flu ure
There is plenty of money i'll the treas u1y
to pay the appropriations. and the state
had the money the passage of the enormous
appropriation bills would lead to the inn
money is totally untrue. There is ques-
ton of law as to when the appropriation
for the payment of the sugar bounty be-
comes available; and until that question is
settled IL will be impossible to make any
payments hereunder. Moreover the claims
for bounty must be adjusted before pay
ment. since payment must be made pro
rata If the appropriation Is Insufficient
The total available cash in the treasury
the one hundred millions allowed to cover
the gold reserve, which is $50, as. 594 IL The
treasury officials have no anxiety as to
their ability 70 meet all obligations in the