The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-11-24
AT Least 1t Is Hoped That An.
other Issue Will Not
Be Needed.
INDUCEMENTS TO BANKERS.
Uncle Sam Will Pay Express Charges
if Coin Is Sent In for
Currency.

WASHINGTON, u. c., Nov. 23.-The
administration to-day decided upon plan
to replenish the gold reserve, which, it is
confidently expected, will have the effect
of deferring for some time at least the
issue of bonds for the purpose of strength
ening the gold reserve. The following
circular was sent TO the sub-treasury
officers:
TREASURY DEPARTMENT.
WASHINGTON, ID. C., Nov. 23.,
Sir: Department instructions OF July and
August %, 1895, requiring you to reject aud
place a distinguishing mark on all gold coins
presented TO your offices for deposit which are
found 10 be below the least current weight, are
hereby so modified as TO instruct you, when re-
ouired, to accept ali such coins at valuation
In proportion TO their actual weight, such vslu-
alton to be determined by deducUing from the
nominal value 4 cents for each grain, troy,
found below the standard weight OF each
piece. All light weight pieces thus received
by you are 10 be held in the cash of your office
separate from full weight coins, and each bag
OF such coins 10 be plainly marked with the
amount of the face and actual values of con-
tents.
ii the depositor should prefer TO have the
pieces that are found to be below the least
current weight returned TO him you viii, be-
the distinguishing mark referred to in depart
ment letter. SCoTT WfKE, Acting Secretary.
UnitedNS States Treasury Morgan followed
this correspondence with instructions to
sub-treasury officers to receive from banks
and-others United States cold coin in ex-
change for paper currency. Deposits are
required TO be made in sums or multiples
of $780, and the express charges on the
gold coin and paper currency returned
therefor will be borne by the Treasury De-
partment.
Except in special cases the treasury has
never before paid express charges both
ways on gold deposited in exchange for
paper and on the paper. The banks have
for years endeavored 10 induce the treas
ury to do this and the fact is that il has at
last done so is evidence that Secretary
Carlisle has determined, as the President
has heretofore announced would be done,
to exhaust all the means in his power 10
maintain the gold reserve.
1t is not understood that this new de-
parture will be permanent 1t is looked
upon as temporary expedient TO obtain
gold. The expense TO the bankers and
others has always been large in securing
new currency IN cases OF redemption ana
in paying express charges on the returned
currency when gold was deposited for it,
Under this new temporary arrangement
the treasury pay the charges heretofore
borne by the bankers.
The rate paid by the Government under
its contract with the express companies,
however, is less than the rate charged in
dividuals. The Government rate in all
territory east of the Pacific Slope is 80 cents
$1,000 for gold and 20 cents $1,000 for
paper.
1t will be the aim OF the treasury to keep
sub-treasuries supplied with all denomina-
tons of currency, so that depositors may
receive what they desire promptly.
They will not have to wait until the GER
tifcate of the gold deposit is transferred to
Washington.
Treasury officials explain that combining
shipments to $500, or multiples thereof, is
TO keep within the terms OF the contract
with the express companies.