The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-03-25
GIVEN AN EQUAL SHOW.
Secretary Carlisle Says He Has Not Dis
erimlnated Against Silver.

Secretary Carlisle Says He Has Not Dis
eliminated Against Silver.
Washington. March 1S.-In response
to a letter from Representative Patter-
son (Tenn.) asking Secretary Carlisle
to state fully how he has dealt with sill
YER currency during his incumbency OF
the treasury portfolio. and whether he
has. in dealing with the subject, dis
credited silver. the secretary says:
in the operations of the treasury de-
partment during my administration OF its
affairs, the legal tender gold and silver
coins of the United States have been
treated precisely alike. except that great
efforts have been made to keep silver coins
in circulation rather than have been made
to keep gold coins In circulation. The
amount paid out by the department in
silver coins and silver certificates greatly
exceeds the amount paid out In gold coins
and gold certificates, and in no instance
has the least discrimination been made
against silver or its paper representative
I'm no instance has silver or silver GER
tificates been refused in payment of a
debt or demand on the government. and ia
no instance has the government refused to
pay silver coins or silver certificates in the
discharge of its obligations when the hold
ers of the obligations demanded or re-
Quested such payment When United
States notes or treasury notes are pre-
sented for redemption, gold is paid If IL Is
demanded, and Il silver Is demanded, sill
yer is paid. Thus the coins of the two
metals are treated exactly alike in max
ing payments by the government as well
as in the discharge OF debts due TO the
government
1T has always been the policy Of the
treasury department to encourage the use
of silver to the largest possible extent. and
in order to accomplish this standard sill
yer dollars will be sent by express at the
expense Of the government to anyone who
will deposit en- equivalent amount OF silver
certificates or treasury notes of 1890 with
the United States treasurer or any as
sistant treasurer, or with national bank
depository. and subsidiary silver coins will
be sent by express at the expense of the
government to anyone who VIII deposit
with such officers or banks any kind or
United States currency or national bank
notes; but gold is not sent to anybody free
of charge.
In August, 1893. there was a great ard
unusual demand in nearly every part of the
country for currency of small denomina-
tons and in its attempts to supply the de-
mand the treasury department paid out IN
defraying the expenses of the government
and in exchange for other forms Of cur
rency all the silver that could be lawfully
used for these purposes. so that for snort
ment in standard silver dollars, except IN
the redemption of silver certificates and
treasury notes Of 1890
THE law authorizing the issue Of sill
yer certificates upon deposits Of silver,
provides that the coin deposited for or
representing the certificates shall be re-
tanned in the treasury for the payment
of the same on demand 1t is therefore
plain that whenever the amount of silver
dollars in the treasury does net exceed the
amount of silver certificates outstanding,
the secretary cannot, without violation
of law, pay out such silver except for the
redemption of certificates. At such times
he has 10 more right to exchange silver
dollars for gold than he has TO pay them
out in any other manner.
But there is also another fund in the
treasury which is required by law to be
held for a different purpose 1t consists
of the bullion and the standard silver dol
lars coined from the bullion purchased
under the act of July IA. 1870. That act
provides for the purchase of silver bullion
at the market price and the issue of
treasury notes in payment for it, and it
also declares that no greater or less
amount of such notes shall be outstanding
at any time than the cost OF the silver
bullion and the standard silver dollars
coined therefrom, then held in the treas
ury purchased by such notes Under this
provision, the secretary is required to keep
in the treasury at all times an amount Of
silver bullion, at its cost price, and in
standard silver dollars, coined from the
purchased bullion, exactly equal to the
amount OF treasury notes outstanding. and
he cannot, therefore, lawfully use such
standard silver dollars except for the re-
demption and cancellation or treasury
notes.
During the month of August, 1S93 treas
ury notes to the amount Of $1,27S,267 were
redeemed in silver and cancelled, and
since the lsr day OF August. 1893. the total
amount of such notes redeemed II silver
and cancelled is S1y,533 ~ Prior to my
administration of the affairs Of the de-
partment, none of these notes had been
redeemed in silver or cancelled.
Since the beginning of this administra-
ton, nearly s1l0, 0oo, QO0 in gold has been
procured in exchange for other forms of
currency. Of this amount SS,9l5, sl2 has
been procured in exchange for silver coin.
and SO, SO $50 in exchange for silver GER
| lificates. The department has never re-
fused TO exchange silver for gold when it
| had silver that could be lawfully used for
that purpose and if it had so refused,
am wholly unable to see how it could be
considered a discrimination against silver.
Is a refusal to pay out gold in exchanges
for silver a discrimination against gold
If not, il, Of course. follows that refusal
to pay out silver for gold is not disc-im-
nation against silver.
In response to your verbal inquiry con
corning The coinage of standard silver dol
lars during the present administration.
you are advised that II amounts TO the
sum of Sc. So. 900 up to the 18th day OF this
dollars coined in this country from the
establishment Of the mint in 1872 up 10
February, 1875. q period of Sc years. was
$1,000 u. G. CARLISLE
EngIand's Campaign in Egypt.