Birmingham age-herald., 1895-03-09
A FLAT CONTRADICTION Of a Sensational Report That Elm
 barrassment Exists IN TREASURY CIRCLES Assistant Secretary Curtis Has a Say as to Uncle Sam's
 Finances.
N TREASURY CIRCLES

WASHINGTON, March 8.--Assistant Sec retary Curtis today made the following statement: "In view of certain statements iu the newspapers that treasury officials are embarrassed by an alleged failure in gold deliveries under the recent contract, and other assertions of a similar nature calculated to mislead and disturb the pub lie mind, wish to- say that the actual withdrawals of gold from the treasury since the 1st of March, 1895, have been s355 ,347 oi which S2S1, 0S7 have been for the redenp- ton of United States treasury notes and s4 269 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 DO more than the ordinary with drawals which in the past have usually taken place at this season of the year. Moreover. during the same period, the treasury has received considerable gold coin in exchange for various kinds of paper currency.
 ''The apparent falling off in the gold re- serve was caused by misunderstanding in taking up the gold reserve statement of the treasury department from the daily reports of transactions sent from the sub-treasury at New York. A large amount of gold which had been deposited for examination and count should not have been included in the gold reserve until the final certificates of deposit, upon which bonds could be issued, were delivered.
 The February figures quoted in the ar- ticles as withdrawn include the heavy withdrawals of the earlier part of the month before the gold purchase contract was made and one single large item not withdrawn for export, concerning which there has been considerable newspaper comment.
 'sThe writers of the articles evidently do not understand foreign exchange or the method of doing business therein. The treasury officials who are charged with the responsibility of those transactions havs no anxiety whatever in regard to 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 exceeded the normal amount, with the exception of the instance quoted above, and that no ex- ports of gold whatever have been made during that time.
 s'In regard to the excess of government expenditures over receipts it is well known that the latter are rapidly increasing ,sapa that up to this time nothing has been rc- ceived from the income tax and very little rum sugar duties, both of which will be important elements of government receipts in the near future.
 "There is plenty of money in the treas- ury to pay the appropriations, and the statements in some articles that if the treasury had the money the enormous ap- propriation bills would lead to the imme- diate disbursement of immense sums of money is totally untrue. There is a ques- tion of law as to when the appropriation for the payment of the sugar bounty be- comes available, and until that question is settled it will be impossible to make any payments hereunder. Moreover, all the claims for bounty must be adjusted before payment and must be prorated if the ap- propriation IS insufficient.
 "The total available cash in the treasury today amounts to s83, ,371 ,495 over and above the Sl00 1000, ,000 allowed to cover the gold reserve, which is $S9, ,745, ,594.
 ''The treasury must have no anxiety as to their ability to meet all obligations in the immediate future with ease, and are now confident that the expected revival of business will assure the future. The pros perity of the country will be greatly has tened when some effective method is found of checking these alarmist articles written by newspaper correspondents and news gatherers, who gre willing to sacrifice the truth and their consciences-if they have any-to create cheap sensation and play upon the feelings of an already oyer wrought public.'