Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-08
Assistant Secretary Curtis Denies
Recent Publications.
BE SAYS THERE IS PLENTY OF MONEY
Misapprehensions Due to ignorance
of Financial Operations.
THE GOLD WITHDRAW Walls

Acting Secretary Curtis of the Treasury
Department made the following statement
this afternoon in regard to the financial
situation:
I'm view of certain statements In the
newspapers that treasury officials are en-
barrassed by an alleged failure in gold de-
iveries under the recent contract, and
other assertions of similar nature calcu-
lated to mislead and disturb the public
mind, wish to say that the actual with
drawals of gold from the treasury since
the first of March, 1895. have been $5oo,947,
Of which $751; S7 has been for the redemp-
ton of United States treasury notes, and
$I4,2GO for the redemption of United States
notes, and divided among the cities of New
York, Boston, Philadelphia, 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, dur
ing the same period, the treasury has re-
ceived considerable gold coin in exchange
for various kinds Of paper currency.
The apparent falling off in the gold re-
serve was caused by a misunderstanding
in taking up in the gold reserve statement
of the Treasury Department from the daiiy
reports OF transactions sent from the SUP.
treasury at New York a large amount OF
gold which had been deposited for exam
nation and count and which should not
have been included in the gold reserve until
the final certificates of deposit upon wnlch
bonds could be issued were delivered.
The February Figures.
1.-The February figures quoted in the ar
ticle as withdrawn include the heavy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withdrawn for export, concerning which
n q
comment"
not understand foreign exchange, or the
method Of doing business therein. Ihe
treasury officials who are charged with
the responsibility of these transactions
have no anxiety whatever in regard 10 the
method which is. and has been, pursued by
the sellers of the gold coin under the re-
cent contract. They are satisfied to con-
template the fact that for five weeks the
Withdrawals of gold coin have not xceeded
the normal amount, with the exception or
the instance quoted above. and that no
exports of gold whatever have been made
during that time.,J
I'm regard to the excess of government
expenditures oSer'receipts. 1t is well known
that the latter are rapidly increasing. and
that up to this time nothing has been re-
ceived from the income tax and very little
from sugar duty, both of which will be i'm
portant elements fof government receipts
in the near future.
Plenty of Money.
There is plenty of money in the treasury
to pay the appropriations and the state
ment in someiartiGles that if the treasury
had the money the passage of the enor-
nous appropriations 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 appropria-
ton for the payment of the sugar bounty
becomes available.i and until that question
is settled it Will be impossible to make any
payments hereunder. -oreover, all the
claims for bounty must be adjusted before
payment, since payment must be made
pro rata If the appropriation is insufficient
THE total available cash in the treasury
today amounts to sS3,371 ,495 over and above
the $l00,O00,0OO allowed to cover the gold
reserve which is $50, IA, Bail.
THE treasury officials have no anxiety as
to their ability to meet all obliga lions in
the immediate future with ease, and are
confident that the expected revival Of bus
mess will assure the future The pros
perity of the country will be greatly has
tened when some effective method is found
of checking those alarmist articles written
by newspaper correspondents and news
gatherers who are willing to sacrifice the
truth and their own consciences-if they
have any-to create a cheap sensation and
play upon the feelings Of an already over
wrought public"