The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1895-02-22
TIE GOLD RESERVE.
The Secretary of the Treasury Makes Re-
port to the Senate


port to the Senate
WASHINGTON. Feb I4-Secretary Car
isle to-day sent to the senate his reply
to the resolution recently introduced by
Senator German asking, among other
things, information as to what portion
of the gold reserve in the treasury
January /, 1898, had been used for cur
rent expenditures, and how much OF
the fund realized from the recent sale
of bonds had been so used, and the
amount required to replace the money
so used.
The secretary said that the original
reserve, augmented by the gold pro-
ceeds of the sale of bonds, was dimin-
ished during the period of twenty-five
months to the extent of S172, GA, BIS, of
which SOS, OOs, 143 was directly or indi-
rectly devoted to current expenses and
S67, 672, liz, which had been converted
into notes by the process of redemp-
ton, was still on hand. at is proper
to state in this connection" he went
on, that when United States notes
or treasury notes of 1890 were re-
deemed in gold, they were re-
ceived into and held as part OF the
general cash assets in the treasury, the
same as any other money belonging to
the government, and under the acts or
Nav 81, 1878, and July IA, 1890, they
are paid out when necessary to detray
the public expenses. Whenever 1T has
been possible to do so, the redeemed
notes have been used to procure gold
coin by exchange with banks and other
financial institutions, and in this way
a large amount of gold was restored to
the gold reserve fund during the sum-
mer of 1898, and some since that time.
A table submitted shows the total
assets in the treasury in excess of tho
certificates and treasury notes OUT
standing on July 1, 1898, were Sl6O, 45O,-
6s1, and on January 1, 1895, S13a-297,-
277. OF the first amount 500, 4s0, 4l3
was gold and of the second $50, s9L, 600
The cash balance in the treasury De-
cember 81, 1894, available for the cur
rent expenses of the government but
not including the gold reserve fund IS
given as follows: Silver dollars
and bullion, S7,65O,S05; fractional
silver coin, Si4, 4s3.6 $780,; United
States notes, S34, 914, 157; treasury
notes of 1890, SIS, 1865, 95Ot national
bank notes, s4,759, 972; minor coins,
81, 1O4, 1S6; deposits in banks Sf5.OSl,-
275; bonds and interest paid, sl2,247,
making a total of StO6, 81, Z40 The
actual amount of gold in the treasury
on July 1, 1894, was S64, S73,O24, and
January 1, 1894, $50, sol, 600. The amount
of gold received from the sale of United
States bonds from January 1, 1894, to
December 81, 1894, both inclusive, was
Sill, $50, 2s2. The amount of treasury
notes and United States notes redeemed
| in gold before the same date was az
follows: Treasury notes, ST, SO4,O 2S;
| United States notes, S123, 941, O59, max
ing a total of Sal, LAS, 1O4. The cash
balance of gold on this account, De-
cember 81, 1894, was $50. pa, AS.
The amount of United States notes
and treasury notes in the treasury
January /, 1894, exclusive of United
STATES notes held for the redemption OF
currency certificates outstanding, was
Sc, 2S9, OS6 Adding to this Sal, 745, lO4,
the amount of such notes redeemed to
December 81, 1894, and S45, 49, 3S, the
amount of like redemptions during the
following months, give total OF $685.
Isl, 92s of such notes available during
the whole period, exclusive of ordi-
nary receipts. The amount OF these
notes remaining in the treasury
January 81, 1895, the date
of the resolution, was Ss5, 627, 9s9,
showing that of total of sls6, S62, S42
redeemed in gold, from January 1,
1894, there has been paid out S1O7, $685.
039. OF the amount paid out s67, 9S5,
453 was for current expenses and $50,
53s, 1856 was in exchange for other kinds
of money, including gold.
The report also shows that on July
/, 1894, the expended balances of APP
preparations aggregated SIS, 291, los, and
the total amount available for expendi-
lures on that date was 1854, GIG, Ala,
making the total available July l, 1894,
SAP, 9O7, $50. The expenditures during
the six months ended December 81,
1894, amounted to 1886, 90, $50, leaving
an unexpended balance January I,