Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1895-06-13
THE GOLD RESERVE.

WASHINGTON, June 10Th
amount of gold held by tn,
Treasury Department has beel
huctuating since April 1. bu
within the past few days Their
has been a gentle rise, which
leads the officials to believe tina
the one hundred million mari
will soon be reached and passed
and that, with the So. 600, 900 still
owed by the syndicate makins
the bond purchases last winter
the. total amount Of gold held by
the treasury will reach abou
S1O6, Oo0, 900 by July 1. Yester
day the amount of gold in the
department. was 500, 1876, sos, OF
the highest point yet reached by
the reserve. The prospects
based on calculations made by
the department official point to q
gradual increase and it's mainten-
ance. The rise and fall of the
gold reserve since July 10 inst,
has been marked by losses and
gains of millions of dollars held
by the department, the lowest
point having been reached Feb
ruary 9th, when the total held in
the vaults was only 81, 1913, PIP,
and the highest reached last
week, when the reserve got a
little beyond 800, 900, 900, On
January 10th. it was $50, 974, 400
and ten days later it had drop
ped nearly ten million dollars.
January 31st, the amount held
had fallen off to $44, 7O5, 967, and
ten days later the ebb-tide point
was reached. From that on
ward the reserve has increased,
due, Of course, to the bond pur-
chases and the efforts of the
Morgan syndicate to protect it
to the extent of their best
efforts.
In the past six months, how
ever, the treasury has lost in
the neighborhood of SO, 900, 900,
as much gold as was gained by
the bond purchases. All of this
was practically paid out by re-
demptlon Of notes, most Of which
were presented through the New
York sub-treasury. OF the large
amount of gold lost, however,
only about Sc, 900, 900 is charge
able between the date of the
bond purchase and June ! last.
In May there was withdrawn 81
900, 900 in gold for redemption
purposes and the Withdrawals
since June 1 to yesterday had
amounted to a little more than
500, 900. The increases since
the bond sales have been even,
with but slight variation in
gains and losses, until May,
when the increase was at the
rate Of two or three millions a
week. February Goth reserve
was over 500, 600, 900. Ten days
later it mounted to over $87, OOO,-
OOOs Through gold turned into the
treasury by the syndicate.
March 9th, it went up to a little
above the 500, 900, 900 mark, and
on March goth, it had advanced
to $50, 861,8 During the next
ten days, however, it fell off
about 5000, 900, and the follow
ten days fell $500, 900 more,
but on April Goth, it gained and
went up to 800, 766, 666, and on
April Both, took a big rise and
mounted to $91, 247, IA, and on
May 10th, was $96, 1875, $40.
then it has been going at
strides, reaching S97, 1884,
277 on May Goth, and S99, 151,-
408 on the last day of May.
The syndicate is said 10 be
IS, 600, 600 of completing
It's contract. When this has
been finally accomplished, with
the present amount of gold and
without considering any heavy
TRAITS on it, the amount held by
5he department will be six mil
ion dollars beyond the ones
characterization mark.
They are confident that there
will be no necessity before Con-
sress meets, at least, Of another
bond issue.
From customs receipts the
amount received was very light,
aggregating perhaps one-tenth
one per cent. but from origin
81 coinage the amount has ag-
5regated several million dollars,
possibly as high as ten million,
in exchange for silver
certificates for removals of new
y harvested crops in the far
Vest and South the amount of
gold received has been consider
IDLE.
Another source has been the
regulation authorizing the exs
change of columbian half-dol-
ars for gold, through which
source about $500, 900 has been
received.
Pikeville Letter.
PIKEVILLE, N. c. June 10Th