Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-03-09
GOLD WITHDRAWALS
They Are Ordinary Only, Says Secretary
Curtis.
PLENTY OF MONEY ON HAND.
All Obligations of the Government
VIII BE Met with Ease-Income-
Tax and Sugar Duty-Fiins at the
Newspapers.

WASHINGTON. March s.--Assistant-
Secretary Curtis to-day made the follow
ing statement:
I'm view Of certain statements In the
newspapers that Treasury officials are EN-
barrassed by an alleged failure In gold
deliveries under the recent contract, and
other assertions of a similar nature. cal
culated to misiesd and disturb the public
mind, wish to gay that the actual with
drawals OF gold from the Treasury since
the 1st of March. 1896, have been x55,SE
OF which ,0S7 have been for the re-
demption Of United States Treasury notes
and H4.2Go for the redemption of United
States notes, divided among the cities OF
New York, Boston, Philadelphia, Balti-
mt G, San Francisco, ST. Louis, and CHI
cago. These are no more than the ordi-
nary Withdrawals which in the past have
usually taken place at this season OF the
year. Moreover. during the same period
gold coin in exchange for various kinds OF
paper currency.
'"The apparent falling off In the gold re-
serve was caused by a Misunderstanding
in taking up in the gold reserve state
ment Of the Treasury Department from
the daily reports of transactions sent
from the SubTreasury at New York a
large amount OF gold which had been de-
posted for examination and count, and
which should not have been Included In
the gold reserve until the final certificates
of deposit upon which bonds could be Is
sued were delivered. The February fig
ures quoted in the articles as withdrawn
include the heavy Withdrawals OF the
earlier part Of that month, before the
gold-purchase contract was made, ana one
single large item not withdrawn for ex-
port, concerning which there has been
considerable newspaper comment.
DON'T UNDERSTAND THINGS.
"The writer's Of the articles evidently
don't understand foreign exchange or the
method OF doing business therein. The
Treasury officials who are charged
with the responsibility Of these transac-
tions have no anxiety whatever In regard
to the method which is. and has been,
pursued by the sellers OF gold coin under
the recent contract. They are satisfied
TO contemplate the fact that for five weeks
the Withdrawals of gold coin have not eX-
cceded the normal amount, with the ox-
ception Of the instance quoted above, ana
that no exports Of gold whatever have
been made during that time.
I'm regard to the excess of government
expenditures over receipts. II Is we'll
known that the latter are rapidly In
creasing, and that up TO this time no.
thing has been received from the income
tax and very little from sugar duty,
both of which will be important elements
Of government receipts In the near fu-
ri l.. - In
Treasury TO pay the appropriations, ana
the statement in some articles that If
the Treasury had the money the passage
of the enormous appropriation bills would
lead to the immediate disbursement OF
immense sums Of money is totally un-
true. There is a question or law as 10
when the appropriation for the payment
of the sugar bounty becomes available,
and until that question is settled II VIII
be impossible to make any payments
Hereunder. Moreover. all the claims for
bounty must be adjusted before payment.
since payment must be pro rata If the
appropriation is insufficient. The total
available cash in the Treasury to-day
amounts to $S3.S7l, 495, over and above
the NOO.0O0OO0 allowed to cover the goid
reserve, which If $Se.7i5,5ei
REVIVAL OF BUSINESS.
1.-THE Treasury oifclals nave no ahAie'!
as to their ability to meet all obligations
I'm the immediate future with ease. ana
are confident that the expected revival
of business will assure the future.
The prosperity of the country VIII be
greatly FASTENED when some effective
method is found of checking these alarm
list articles written by newspaper cor
respondents and newsgatherers. who are
willing TO sacrifice the truth and their
own consciences-if they have any-to ere
ate a cheap sensation and play upon the
feelings Of an already overwrought pub
lie"