The Marlboro democrat. [volume] (Bennettsville, S.C.) 1882-1908, 1895-12-04
"A NEW PLAN
TOR IeEpLENIsHING THE GOLD
RESERVE SHORTAGE.
This Move. However, ia Only Tenn
porary Expodlent.


The administration has dooidod up
on plan to replonish tho gold rosorvo
which it is confidently expected will
have the effect of deferring for somo
time, at least, tho issue Of bonde for
that purpose. The following circular
was sent to subtreasury officers:
t TREASURY DEPARTMENT., Washing.
TON, D. O., November 23. Sir: Do
partment Instructions of July 9th and
August 23d, 1886, requiring you to
reject and place distinguishing mark
on oil gold coins presented to your
office for deposit Which are found
to be below the least curroht weight,
are hereby 30 modified as to instruct,
when requested to accept MI such
coins at valuation in proportion to
their actual weight, suoh valuation
to be determined by deduoting from
the nominal value cents for each
grain, troy, found below tho standard
weight on oaoh piece. All light weight
pieces thus received by you are to be
held in tho cash Of your offioo sopar-
ate from full weight coins and each
bag of such ooine to bo plainly marked
with the amount of tho face and actual
values of contents. If the depositor
should prefer to have the pieces that
are found to be below the least current
weight returned TO him, you will, be-
fore returning them, stamp oaoh piece
with tho distinguishing mark referred
to in department. letter.
ScoTr W1KE, Acting Secretary
United States Treasurer Morgan
followed this circular with instructions
to the sub-treasury officers to receive
from banks and othsrs United Statos
gold coin in exchange for paper our
rency. Deposits are required to be
made in sums or multiples of $500, and
the express charges on the gold ocin
and the paper currency returned
therefore will be borne by the treasury
department Except in apecial cases
the treasury department. has mover paid
express charges both ways on gold do
posted in exchange for paper and on
the paper. Tho banks have for years
endeavorcd to induce the treasury to
do this, and the fact that it has at last
dOne so is ovidonce that Secretary
Carlisle has determined, as tho presi
dent has heretofore announced would
be dono, to exhaust NIL the means in
his power to maintain tho gold ro-
sorve.
Only a Tcmpory IExpodient.
It is understood that this new do
parture will not be permanent; it is
looked upon rs temporary expedient
to obtain gold The expense to banks
and others has always beon largo in Sc
curing new currency in cases of re-
demption md in paying oxprcss
~ 81, M &, q. y..s. tti,.,i,
gold was depositod for it. Under this
new arrangement tho treasury pays
the charges heretofore borne by tho
bankers. Tho ratio paid by tho gov
crnmcnt undor it's contract with the
express companies, however, Is loss
than thcrato charged individual ship
pers. Tho government ratio in ali terri
tory cast OF the Pacific slope 10 80 cents
a$l, 900 for gold and so cents n 81 900
for paper. 1t will DO tho aim of The
treasures supplied with all lcnomina
tons OF currency, so that dcpositors
may receive what they desire prompt
~. They will not hayo to wait until
tho certificate Of tho gold deposit is
transferred to Washington.
Treasury officials explain that con
fining shipments to $500 or mulliplcs
thereof is to keep within tho terms of
the contracts with tho express compa-
MOS. This restriction does not apply
to local dcpoaits OF gold in q subtreas-
ury city, whereby any sum may DO do
posted and currency received for tho
same.
KNIGHTS or LABOR ADJOURN.
Tho Nnvt Cnuuont ~