New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-26
STATE OF THE GOLD RESERTE.

PAYMENT OF Sc 500 600 AT THE sTB-TREASCRY ON
NEUTRALITY-SUSPICIOUS. OF THE SYNDICATE.
By the payment into the Sub-Treasury late Mon
day afternoon Of Sc sc CO., the Government bond syn
dicate completed the purchase OF the European half
Of the bond Issue The American half of the issue
was paid for many weeks ago. so that Mondays
deposit makes the final payment on the entire issue
The fact that the payment had been made was
certified to by the Treasury officials. so that the
balance of the bonds be delivered without delay
to the representatives OF the bond syndicate In
London The bonds are already in England in the
custody Of Assistant Secretary w. f. Curtis
The fact tina, the final payment on the bonds had
been made did not become public in Wall street UNI
til yesterday morning. 1t is understood that the
payment was made by means of Treasury gold GER
tihcates.
The policy Of the OF the syndicate In re-
gard to protecting the gold reserve Of the Govern
remains unchanged. Thus far they have
fully proved their ability to do this That their
position is a strong one is evidenced by the notinca-
ton. which 1t said yesterday had been sent out
10 the members of the syndicate by It's Managers
giving them word that 1t was the intention TINS
week to return the members of the syndicate the
balance of 50 per cent of the money they advanced
in gold for the syndicate TO deposit in the SUD-
Treasury last February. in order to purchase the
American half of the bond issue.
The s65e2.N0 in gold deposited on Monday VIII
bring w the reserve in the neighborhood OF
Sl07. 500 900.
Washington, June 25-The Treasury gold reserve
became to-day intact again for the first time since
December II. 1894 1t stands now at So)s3O3o'.'s
not taking into account the 6.0OoGo paid into Inc
Sub Treasury at New-York on Monday by the
syndicate The bonds were yesterday quoted al
1884. bid.
Now that the gold reserve is intact. question
that comes up the Treasury is the issue
of gold certificates against gold deposited nder
the law while the gold Is under the sl""VW
limit gold certificates cannot be issued against goid
deposited but when ii exceeds that limit the law
directs Secretary Of the Treasury TO issue such
certificates the deposit Of gold. The Treasury
it is understood, will discourage the issue or such
certificates. but Will not of course refuse to 90 so
If demanded.
The cause of the Discrimination to issue gold GER
tificates this time is that the margin or Tree
time to come, ana any such action now looking 10
the issue Of gold certificates might have 10 be re
voked within a few days. and would have to be
rescinded should the gold reserve again fall below
SO, Ooo0 900.
There was considerable inquiry at the Treasury
Department to-day : to whether the Belmont
Morgan ~ ldcate had secured modification OF
the contract the extent that the syndicate would
not be compelled to import S0tr0oO OF foreign gol!
Assistant Secretary Hamln in this connection
made this statement: There has been no modiica-
ton of the contract: the provision that one-half
Of the gold for the total amount Of the loan shall
be brought from abroad is to be carried out. Some
Of the importatons of foreign aold We're made In
this did not involve any modification of the con-