The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-03-09
No NEW RAID on THE GOLD.
Assistant Secretary Curtis Denies
Recent RumorS-


Washington. March S.-Assistant Sec
rotary Curtis to-day made the following
statement. "In view OF certain state
ments in the newspapers that the treasury
officials are embarrassed by an alleged
failure fin gold deliveries under the recent
contract, and other assertions Of a sim
liar nature. calculated to mislead and
disturb the public mind. I wish 10 say that
the actual Withdrawals Of gold from the
treasury since March !. 1895. have been
1885, i7. Of which SIS, 0S7 have been for
the redemption Of United States treasury
notes ana $74,25) for the redemption Of
United States notes, and divided among
the cities Of New York. Boston. Philadel-
phia, Baltimore, San Francisco. St Louis
and Chicago These are no more than the
ordinary Withdrawals which in the past
have usually taken place at this season
of the year. Moreover. during the same
period. the treasury has received con-
siderable gold coin in exchange for various
kinds Of paper currency.
''The apparent falling off in the gold
reserve was caused by a misunderstanding
in taking up in the gold reserve statement
of the treasury department from the daily
reports of transactions sent from the
4
of gold which had been deposited for
examination and count. and which should
not have been included in the gold re-
serve until the final certificates Of deposit
upon which bonds could be issued, we're
delivered.
THE February figures quoted in the arti-
Giles as Withdrawals include the heavy
Withdrawals of the earlier part Of that
month before the gold purchase contract
was made, and one single large item not
Withdrawn for export concerning which
there has been considerable newspaper
comment.
THE writer's Of the articles evidently
do not understand foreign exchange, or
the method of doing business therein.
THE treasury officials who are charged
with the responsibility Of those transac-
tons have no anxiety whatever in re-
gard to the method which is, and has been,
pursued by the sellers Of the gold coin
under the recent contract. They are sat
isfied to contemplate the fact that for five
weeks the Withdrawals of gold coin have
not exceeded the normal amount, with
the exception Of the instance quoted
above and that no exports of gold what
ever have been made during that time.
I'm regard to the excess Of the govern
ment expenditures over the receipts, It
is well known that the latter are rapidly
increasing, and that up to this time moth
-
and very little from the sugar duty, both
of which viii be important elements Of
government receipts in the near future.
There is plenty Of money in the treasury
TO pay the appropriations, and the state
ment in some articles. that If the treasury
had the money, the passage of the enor-
nous appropriation bills would lead to
the immediate disbursement OF immense
sums Of money is totally untrue. There
is a question of law as to when the appro-
priation for the payment of the sugar
bounty becomes available and until that
question is settled, II will 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 appro-
priation is insufficient.
THE total available cash in the treasury
to-day amounts to sS3,S7i, ASS. over and
above the 800 100000 allowed to cover the
gold reserve. which is S9,745. 594
The treasury officials have no anxiety
as to their ability to meet all obligations in
the immediate future with ease and are
confident that the expected revival Of
business will assure the future The pros
perity Of the country will be greatly has
tened when some effective method is
found of checking these alarmist arti-
Giles written by newspaper correspond
ents and newsgatherers, who are willing
to sacrifice the truth and their own con-
sciences-if they have any-to create a
cheap sensation and play upon the feel
ings of an already overweight public"