Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-11-24
TO OBTAIN GOLD.
ADMINISTRATION PLAN FOR he
PLEyIsuING RESERVE.
II rs Expected 70 Defer the issne
Of Donts-ycIiow Metal for PAPER
rxrrc.. Charges Paid both
Wnya,

WARRINGTON. d. C.. November 70
The administration to-day decided upon
a p,an 10 replenlsh the gold reserve which
II Is confidently expected will have the
effect Of deferring. for some time al ieas''
the issue OF bonds for that purpose. Ihe
following circular was sent to the SUD-
Treasury officers:
TREASURY DEPARTMENT.
WASHINGTON. ID. c.. Nov. q. 1870
"sr.-Deparimen instructions of July
9th and August q, 1886. requiring you to
reject and place acknowledgements
on all gold coins presented to your once
for deposit, which are found to be beio"
the least current weight. are hereby ~
modified as TO instruct you. when request
cd. TO accept all such coins at valuation
In proportion to their actual weight suoh
valuation 10 be determined by deductlng
from the nominal value cents for eaon
grain. troy. found below the
weight on each piece. .,...a
"All lightweight pieces thus reeeNu .
by YOU are TO be held in the cash OF your
Office separate from iull-weisht CONS,
each bag OF such coins 10 De piain's
marked with the amount of the lace anu
actual values Of its contents.
"If the depostor should prefer to nave
the pieces that are found to be oSlo"
the least current weight returned TO h''ii'
YOU will before returning them stamp each
niece with the distinguishing marx re-
ferred 10 in department letter.
(SigneO sCOII NiNL 49,,
limited states-Treasurer Morgan follow
cd this circular with instructions TO ths
Sub-Treasury officers TO receive Uhi'ed
States gold coin in exchange Tor paper
currency. Deposits are required 10 DC
made In sums Of multipies Of $ooc' ana
the express charges on the gold com anu
uaper currency returned therefor VIII De
borne by the Treasury Department. IN
cept in special cases. the treasury mas
never before paid express charges po'h
WAYS on gold deposits I'm exchange Tor
paper, and on the paper The banks nave
FOR years endeavored to induce the Ireas-
ury To do this. and the fact that II has
at last done so Is evidence that secretary
Carlisle has determined. as the President
has heretofore announced would be Done
10 exercise all the means in his power 10
maintain the gold reserve.
TEMPORARY EXPEbIENT.
II is not believed that this new depart
ure will be permanent, II is looked upon
as a temporary eXpedient to obtain god.
The expense TO banks and others has
always been large in securing new cur
rency in cases Of redemption and IT.
paying express charges on the returned
currency when gold was deposited for
1t Under this new temporary arrange
ment, the Treasury pays the charges
heretofore borne by the bankers. The
rate paid 10y the government under It's
contract with the express companies,
however is less than the rate charged
Individual shippers. The government
rate In all territory east of the Pacific
slope, is so cents a $1,000, for gold. and
20 cents a $3.50 for paper. II Will be
the aim Of the Treasury to keep Sub
Treasures supplied with all denomha-
tions of currency. so that depositors may
receive what they desire promptly. They
will not have TO wait until the certificate
OF the sold deposit is transferred to Wash
iDaton.
Treasury officials explain that combining
shipments 10 $780, or multiples thereof,
IS 10 keep within the terms of the con-
tract with the express companies. This
restriction does not apply to local de-
posits OF gold in Sub-Treasury city.
where any sum may be deposited and
currency received for the same.