Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1895-11-30
TO RAISE THE RESERVE.
secretaiS CariisIe's Latest Plan to &c,

Gold.
Washington, Nov. 25.-An important
order was on Saturday issued by the
treasury department, with the purpose
OF giving the banks and people through
out the country an opportunity to re-
plenish the gold reserve. The order re-
q,iires subtreasurers to pay the express
charges both ways on deposits of gold
in exchange for notes, and also modiS
fics the existing regulations concern
ing under-weight and mntilated coins.
Heretofore depositors of such coins
have been compelled to pay express
charges on the money, which was
treated as bullion, and to wnit until
the mints had ascertained the exact
value thereof before they could get
their payment. Now the subtreasur-
ers will Immediately weigh such coins.
deduct four cents for each troy grain
OF shortage and promptly pay the de-
positors the full value thus ascertained.
1t is the belief of the treasury officials
that the result of this order will be an
immediate and cordial addition to the
governments store of gold by means
OF deposits from banks and individuals.
Secretary Carlisle, while in New York
last week was advised by prominent
bankers to remove all obstacles and eX-
pense which have prevented the ex-
change of gold for legal tender notes.
1t was the belief of these bankers that
many banking institutions and a very
large number of individuals would,
through patriotic motives, make de-
posits of gold. These bankers and also
many business men told the secretary
the people were interested in mainten-
ance of the gold reserve; that the in
tegrity of the reserve was of great I'm
portance to the business ara banking
community, and that If given an OPP
portunity, without cost to themselves
or veXations delays, the people would
gladly come to the rescue of the treas
Try in it's hour of need.
Secretary Carlisle was much i'm
pressed by this argument, and on his
return to Washington satisfied himself
that he had authority under the laws,
and then laid the matter before the
president. Mr.. Cleveland at once recog-
nized the Importance of the plan and is
said to have expressed great confidence
in the willingness of the banks and of
private citizens in all parts of the coun
try to come to the assistance of the gov
ernment in it's efforts to maintain the
gold reserve at the traditional minimum
of S1oO,Ooo,ooO, which has the recogni-
tion of the statutes in the act of July
L., 1882. The order was decided on at
Fridays cabinet meeting and was is
sued Saturday afternoon.
1t is virtually an invitation to the
people to contribute their hoard of gold,
each according to his means, for the
benefit of the country. The government
is engaged in the difficult task of at
| tempting to maintain a $10o,000,000'
| gold redemption fund, not because it is,
| specifically required by law to do so, nor
because it has any practical use for any
such reserve, but wholly for the pur-
pose of preserving public confidence.
The gold reserve has come to be a
barometer of confidence, and it is the
belief of the president and Secretary
Carlisle that the people will gladly en-
brace this opportunity to evince their
desire to help the government in the
performance of a duty which means so
much to the prosperity of the country.
The gold which the government asks
the people to contribute in exchange for
paper money is needed, it is claimed,
not because the public revenues are in
sufficient, but because the government
is compelled under the present system
to provide gold for all American citi-
zens and for all citizens of foreign coun-
tries who want gold for expectation.
This is believed to be the second time
in the history of the government that it
has paid express charges both on the
gold received and the currency re-
turned therefor. The only exception,
il is said, was in 1893, when it was done
| in few instances