The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1895-08-14
THE GOING OF THE GOLD.
THE URYOFFlClALS THOUGHT
TO BE UNEASY.
A Steady Drain Upon the Reserve for the
Past Two Wecks--A Reaction May Soon



Past Two Wecks--A Reaction May Soon
Come.
WASHINGTON, Aug. S.-The reti-
cence that usually prevails among
Treasury officials when they are APP
preached on the subject of the condi-
ton of the gold reserve, and their alb
solute refusal to allow themselves to
be quoted as to what this outflow of
gold Of the past two weeks signifies,
leads to the conclusion IN some quar-
ters that the Treasury is uneasy about
the situation. 1t is quite probable that
by Saturday the syndicate will be
compelled TO prove whether 1t consld-
ers its contract fulfilled or whether it
feels constrained to assist the govern
ment in maintaining the reserve. The
rapid diminution of the reserve, the
speedy descent from more than $107,-
000,0 900 to very little margin over
the amount the reserve is required to
be has shown how easy raid, even
under the guisc Of the ordinary course
of business, can be conducted.
Some of the Treasury officials are
emphatic in their statements that this
loss of gold is due to legitimate busi-
ness, and point to the character of the
houses taking it out to show that it is
not the result of speculation. What
ever may be the cause, the loss is felt,
and will be felt to a still greater eX-
tent before the week is ended. There
was an intimation at the Treasury to-
day that notice would be given to-
morrow of a withdrawal of exports
Saturday, and officials do not hesitate
to admit that the indications point to
the further loss of an amount equal,
if not greater, than that which was
shipped on today's steamer. At the
close of business this afternoon the
reserve was $104, 1862, loss over
yesterday of s349, 442 The 81, 900, 900
shipped today has not been reported
to the Treasury in the official balances
from New York and will not, there
fore, appear in the reports until to-
morrow. The actual condition of the
Treasury, then, finds the reserve
amounting to only SOB, lis, ,662. This
shows loss of S4,500,0O0 since the
syndicate made its last payment July
5, and sent the reserve up to S107, ,569,-
POS. The gold reserve was not nearly
so low as this on the 9th of July,
when the syndicate felt called upon
to increase it. At that time the re-
serve paid dwindled down to little
below s105, SEQ, 900, and by Monday it
had swelled to little more than S107,-
250,O0O. Some Treasury officials who
discuss the situation privately admit
that unless the syndicate steps in and
fills the gap that has thus been made
the public will be warranted in be-
lieving that the syndicate considers
it's contract to have been completed IN
it's entirety and that it is not longer
morally bound-not by the disputed
meaning of the text of the contract
to maintain the reserve.
Secretary Curtis said today that he
did not know what the intentions OF
the syndicate were, but, 50 far as the
Treasury situation was concerned, he
saw nothing In 1t to justify any feel-
ing of alarm. The gold that was go
ing out was sent abroad n the pay
ment of debts, and within few days
he believed there would be flow in
this direction. Crops were beginning
to move, and the presence of CONNER
cial bills in New York, so1ne of which
were already on the streets, would
loosen the tension and bring down the
rate of exchange and stop the export
of gold. There are others, however,
in the Treasury not so sanguine as is
Mr.. Curtis, and many of these are be-
ginning to look forward to the next
week as critical period-one that
must show which way the tide will
turn. Meanwhile the gold continues
to &C out, and no official expression OF
the proper Interpretation of the bond
contract is made.