The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-09-14
Millions of the Yellow Money
Has Been Withdrawn for
Export.
AN INCREASE OF THE DEFICIT.
The Morgan Belmont Syndicate
Claims to Have Fulfilled All
Contract Obligations.


treasury general balance to-day is $751;
962, 900, OF which sos, ,56s, 900 is in gold. The
deficit so far this fiscal year. is $14,000,000,
and with the revenues running at the
present figures this deficit by January 1
next will approximate $25, 100000 or $780,
900, 900.
The amount realized by the three bond
issues made within the past two years
exceeds by only $6,000,000 the tctal treas
ury balance to-day, so that without these
issues there would now be an empty
treasury. With full treasury,
of course, it follows that gold
can always be had, but with treasury
depleted by expenditures exceeding the
revenue, and with the tide of commercial
exchange against US, gold is difficult to re-
tain In the treasury.
The advices received at the Treasury De-
partment from New York stated that
81 100000 in gold had been to-day with
drawn for export and 100000 in gold had
been deposited, making the net loss for the
day So, 100000. This reduces the gold re-
serve to $96 26S, 574. The features of
the day, as viewed from here,
were the appearance of Lazard Freres
as gold exporters; the deposit by
the Hanover National Bank of $500,0O0 IN
gold. The large demand for small notes
at Southwestern points in exchange for
legal tender deposited at New York and
the readiness with which banks availed
themselves of Secretary Carlisle PROPOSE
ton to deposit gold in New York for cur
rency deliverable at Government contract
rates at Western and Northern points.
The gold exports Gay attracts atten-
tion to the fact that since July 13, when
the gold export movement began, about
S2S, ,0OO0OO have been withdrawn from the
treasury and $4,000, 600 deposited. From
january i to July 81, 1895, according to
statistics. $39, ,098, 600 in gold was exported
from the United States, a loss of $l2, 600.
For the past three years the net loss of
gold by export has been: 1894, $S1, ,212 900;
1893, 81, Ola, 900; 1892, $50, ,081 900.
For the three months of July, August
and September OF tie last year gold ex-
ports only equaled SIS, 9,5O0,0 900, and for the
entire month of September the exports
amounted to 1921. 900.
NEW YORK, n. Y, Sept. 13.-A notice
was posted at the sub-treasury to-day that
for gold coin in amounts or multiplies of
$500 small denominations of currency will
States at Government contract rates on
the day following the deposit of gold at the
sub-treasury, instead of at the bankers
rates. Government contract rates are 20
cents per $1,000
In respect to the gold engaged in this
city to-day for shipment by to-morrow's
steamers the United Press is authorized
by the bond syndicate to make the follow
ing statement:
The impression has become general that
the members of the bond syndicate entered
into an agreement with the United States
treasury to maintain the $100, 100000
reserve until October 1 prox., and that
upon that date said obligation will cease
and terminate. Such is not the case. The
bond syndicate fulfilled all its obligations
to the Government in June last, and has
not since been bound in any way to the
treasury. 1t is true that it has from time
to time since June last paid over various
sums in gold coin to the treasury,
which have sufficed to maintain
the reserve, but it has done so
voluntarily. and will continue to do so in
the same spirit and for the same motive.
So far as October 1 is concerned, it has no
relation to the action of the bond syndi-
cate, and it will continue to deposit gold
until the first of November and first
OF December, and the first of jan
uary, if necessary, if existing conditions
make it feasible to do so. But neither the
bond syndicate nor any one else can con-
troll the elements. But the idea that its
relations to the treasury situation will be
any different on or after October from
from what they are now ana have been all
along is erroneous and should be corrected.