The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-31
GROVER AND LIE GOING GOLD.
TIE TREASURY RESERVE NOW
DOWN TO 44,55I ,322.

Numerous hut no Ofnctal An
nouncement Made of Their Plans.
Everything Contingent ON the
Developments of the Next Day or
TwO--Curtis in Gotham.
Washington. Jan. s0.-Assistant secre-
tary Curtis OF the treasury department.
left Washington to-day for New York.
lie will be absent several days. His visit
at this time is for the purpose Of confer
ring with Sub-treasurer Jordan In re-
gard to gold exports and also to be on
the ground to give advice as occasion
may arise touching the financial situa-
tion. He will keep Secretary Carlisle
advised as to the situation In New York.
Unless congress takes prompt action ths
Secretary OF the Treasury viii feel Il in
cumbent upon him to issue bonds 10
protect the gold reserve and Mr.. Curtis.
while in New York. will act as the direct
representative OF the Secretary in confer
ring with New York capitalists as to the
placing OF the bonds when their issue is
deemed essential to the protection Of ths
credit OF the government.
The House banking and currency com-
mittee to-day adopted an amendments
prepared ny Representative Wdlkcfs Iep.a
OF Massachusetts, as q substitute for
section of the Springer bill, which pro-
vides that all customs dues shall be paid
In gold. Mr.. Walker argued that thu
effect of this section would be to send
gold to a premium. His amendment.
which reads as follows, was adopted by a
very considerable majority Of the members
present:
Sec. 5.-That from and after July l.
1895, 10 per centum OF the cash reserve
required by law shall be kept In coin or
coin certificates, and not less than half
OF such coin or coin certificates shall be
In gold or gold certificates, and that such
cash reserve required by law shall be
kept in coin or coin certificates In amounts
increased by 10 per centum of the whole
cash reserve required to be kept by law
on or after the first day Of each quarter
of the calendar year until the whole
cash reserve shall be In coin or coin cer-
tihcates, and not less than one-half OF
such cash reserve shall at all times be
In gold coin or gold certificates"
The committee then proceeded to con-
slider an amendment offered by Mr.
Warner, dem, of New York, which pro-
vides that the Secretary OF the Treasury
shall apply any surplus In the treasury
TO the redemption OF legal tender notes,
including treasury notes.
MIR. Warmers amendment was defeated
by vote OF 10 TO 2 the latter votes being
I
Resolutions endorsing President Cleve-
lands message OF Monday were adopted
to-day by the National Board of Trade
now in session in this city.
The members Of the board called at
the white house at ! o'clock and presented
the President copy OF the resolutions.
The venerable Frederick Fraley briefly
assured the President of the complete con-
fdence the business men of the country
reposed in him. TIE President In reply
Il Ia4Ia "a hat h. f5an 20 ats
this expression from such an association.
IL was a hopeful sign of the times when
business men gave time and attention to
financial matters. Every interest of the
country rested upon the national honor.
With the national honor gone there was
nothing left. 1t was the nearest and
dearest TO every man, woman and child
in tie country and he was glad that his
efforts TO maintain the national honor
were appreciated.
The treasury gold was reduced today
by Withdrawals at the several sub-treas-
uries to Sl4.55l.S22. The Withdrawals wera
as follows:
At New York. ss.T5. 600; at Baltimore.
Si31. .74O; at Boston, $4,000; total for the
day. s3,95l,7fO
Rumors as to what the President ana
Secretary Carlisle intended to do were
plentiful but no official announcement was
given out. No preparations are being
made for a bond issue and none will be
made until the President is convinced
that congress will not respond to his ap-
peal for financial aid. Unless congress
responds promptly to the Presidents
suggestion he will, in the exercise OF
his discretion under the resumption act.
direct the issue Of 900 bonds. Under
this act there are three kinds of bonds
he may issue. viz: Five per cent. bonds.
which run ten years; AZ per cent. bonds.
which run fifteen years; and per cent
bonds, which run thirty years.
AS the President, in his recent message
favored fifty-year bonds, the general be-
lief In official circles is that, If the bonds
are issued under the resumption act, they
will be per cent. bonds to run thirty
years.
Everything is contingent on the condiz
ton of the gold reserve. Should the gold
Withdrawals diminish or cease altogether,
the President may not consider anotheN
issue necessary at this time, as the gem
eral condition Of the treasury, with $751;
100000 available for expenses and con@
slant Improvement daily showing in the
receipts Is better than IL has been for the
past two years.
The administration banking bill, intro@
duced by Representative Springer of IiH>
nois on Monday last, and to the consider
alton Of which the banking and currency
committee has devoted the better part
OF two days, viii be reported to the House
without recommendation, on Friday OF
upon.
The amendments are seven in number.
Two eliminate sections and of the bill.
and the others are additions to 1t.
The favor with which the measure was
regarded by the committee was evidenced
by the vote on the proposition made at a
late hour this afternoon by Representa-
tive Cox OF Tennessee to substitute the
Carlisle bill, with the state bank feature
eliminated as a substitute for the admin
istration bill. OF the thirteen members
present. but four, Messrs. Black Of Geor-
gia Cobb Of Louisiana, Cox of Tennessee
and Hall Of Missouri voted in the ahirma-
tive.
Still more emphatic was the protest
against the motion that the bill be re-
ported to the House with a recommends
tion that II do not pass. But three mem-
bers, Messrs. Cobb Of Alabama, Black Of
Georgia and Hall Of Missouri, supported
this motion.
The counter proposition that the bill be
reported for consideration without recon-