The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-17
LEAK is GROWING
FLOOD OF, ,GoLD LEAVING TIE
COUNTRY INCREASES DAILY.

Meanwhile Theysare Worrying In Washing
ton and Putting Great Faith in tin
Word of the Foreign Syndicate which
has Politely Offered to Save the Credi
of the Govcrnment-True Condition o
Affairs is Kept Back and Hope is Bull
on Hope. and the Gold Keeps Going Gu
just the Same.
WASHINGTON, D. c., Aug. 16.-More
gold was taken from the treasury TO-
day. The syndicate put into the treas
ury 81 346 900 ofigold as n offset 70 The
withdrawals of yesterday and today,
which amounted in round numbers to
So 500 GEO TIE drain for the two days
was a little 800 rapid. This deposit OF
the syndicate makes it a little more de-
lJberate but sill leaves the net loss on
the two days transa ction considerably
over 81 00O, 600 There is a lack of evil
dence as to that une2siness attributed
TO Secretary Carlisle and the president.
Tie danger is apparent enough, but the
enNet is not The treasury officials
are apparently quite ccmplacent, and
the secretary is still on his vacation on
the lai-es Lest the gold combine might
have some apprehension, the assurance
IS given throHgh unofficial, but recog-
nizeG sources, that there is nothing TO
be concerned about, that bond issue
will be made if the gold reserve gets
pressed too hard.
That settles it. OF course, the people
may proceed with their toll in perfect
conteratnent. The treasury may be re-
lied onNfor bond issue to cure all the
Ills that. arise. This is the consoling as
surance given while the president is
catching ,rnuGnmy chugs ard Carlisle is
making a government inspection to see
;f the great lakes are still where they
ought 10 be.
Tt is regarded as merely question Of
time when the gold reserve will be
again depleted 1t is impossible to tell
how sudden OF prolonged the drain will
be. Even the treasury people have no
means OF determining this. Though
they might shrewdly guess that it viii
be fast enOughtt 10 serve the ends of the
combine.
The syndicate viii probably prolong
the agony awhile, as before stated in
these despa tches-
Cleveland and Carlisle are still hope
full of effecting a further contraction of
the currency by securing during the
coming session Of congress the repeal
CT the law requiring the reissue of
treasury notes as fast as redeemed.
They think that a pretty vigorous rat
Ting of the "endless chain" behind the
cene,yvill brighten congress into the re-
peal Of this law.
If they succeed in this with Mr.
Reeds assistance the treasury notes
will be speedily retired and the cur
rency be to that extent contracted.
The suggestion viii be made to the
president that there is another law, the
,s11,H - !, H.
mend if he wants to lessen the facilities
for the shipment of gold from the coun-
try
It is that which is a part OF the re-
sumption act of Jan. II, 1875, which pro-
vides that the government must redeem
its notes in coin ''ait New York" This |
law was so amended by the act of /
March ?. 1887, 50 as TO make San Fran |
cisco another point of shipment.
The result of the law is to make the |
government pay transportation on gold /
from interior points to the most con- !
venient point for shipment by export |
ers.
thousand dollars month and saves |
that muYoh to the exporters. The cost |
per million 70 New York from Chicago |
is 81 GOO; from st. Louis, $4,000; from !
Denver $4,000. This the government |
pays. IF the exporters had to go to |
these points for his gold when the sup
ply in New York is not sufficient it |
would discourage expectation.
Gold exports were suspended on Feb. |
:. 1899 pending the negotiations with |
the Relmont-Morgan syndicate. The !
contract with the syndicate was signed |
Feb. s. 1885. SO much of the contract as
the syndicate was required to perform |
was ended on June %, 1895. when the |
full amount Of gold called for was de- |
DOSited in the treasury
All that now remains Of the contract |
Is this provision:
Should the secretary Of the treasury |
aesire to offer or sell any bonds of the |
United States on or before octm l, 1895, |
he shall first offer the same to the par
ties of the second part Ghe syndicate); |
but thereafter he shall be free from
every such obligation to the parties of |
bhe second part
The secretary of the treasury Is
pound to offer the new bonds to the
syndicate. hut the syndicate Is not
bound to take them
No gold was exported from the Unit
I'd States from Feb. .. 1885, until July
l2. when firm Of bullion dealers ship
ped sos. 600. During the week ending
July 20. s1.530,275 were shipped by sew
eral parties During the week ending
July %. only $50 coo were shipped
{ On July 20 the syndicate gave the
treasury $1,000 600 gold in exchange for
greenbacks. more than making good the
Withdrawals for export I'D to that date !
Then on Aug. :. 81 36, 400 went out Dur
ing the week ending Aug. TO- Sc. 046 100
gold was exported. So far this week
f2.550. 600 have been withdrawn from the
treasury for export. The total gold ey-
ports since the syndicate closed their |
contract with the treasury are SS147.-
s7S. Not quite all this gold was with
drawn from the treasury. and the syn
aicate has given to the treasury during
This time s2.S4s 900.
= part Of the contract between the
syndicate and the treasury signed Feb.
;. 1895, was:
The parties Of the second part
as far as lies in their power.
WIN exert all financial influence and
will make all legitimate efforts to nro-
tect the trea sury Of the United States
against the Withdrawals Of gold. pend
Ing the complete performance OF this
contract
More than $1,000 ooo gold has already
been withdrawn from the treasury oyer
the amount put back by the syndicate
since July l.
But the syndicate claims 70 have re-
stored public confidence. 50 that i J
makes no difference how much gold
goes out
GETS NO SEPARATE RECEIVER. ,
Atisntic and Pacific viii Remain a Part of
the Santa Ee Road.
Denver. Colo, Aug ia speciaf ~ | ,
the News from Albuquerque n NJ ,