The Taney County republican. (Forsyth, Mo.) 1895-1992, 1896-01-16
THE GOLD QUESTION:.

khe Rresldont DsotuEbeA by the Large
WlthdFAwals-1Gay be Forced to Pay Out
SILVER 60 ChecArmAee Whist He Regards
- . Conspiracy On the Part of the Banks
Against the Natlon,s F1nanclal Credit.
CHICAGO, Jan. "a Wash ington spe-
cinl says President Cleveland il dis
turbed by the large Withdrawals of
gold, and the prospect that there viii
be wholesale raid ON the reserve dur
ing the next two weeks. He supposed
that the published notice of another
bond issue would prevent heavy exc
ports pending the opening of bids for
the bonds, February S, but private ad-
vices from New York city indicate that
heavy exports Of gold win be made in
the next two weeks. The gold bal
ance is now below fifty-nine million
dollars, according to the official re-
ports, but is really considerably lower
for the reason that the amount paid
on account of matured bonds and in
'terest is not deducted from the avail.
able cash, and is not to be until the
last of tho month.
The amount paid ont since January
ON this account, and which is car
ried in the treasury cash, is about
five million five hundred thousand
dollars. the bulk of which was gold.
In February last, just prior to the
purchase of gold from the Morgan
Belmont syndicate, the total gold ran
down to $4l, ,0O0, 900, the Withdrawals
during the latter part of January and
first half of February reaching some
days as high as three million or four
million dollars
The circular of the treasury inviting
bids and keeping the offer open for 80
days is likely to lead to large with
drawals of gold by individuals for the
purchase of Investment bonds. It
would, perhaps, have been better for
the treasury had the proposals been
limited to ten instead of 80 days. This
latter time was fixed mainly to give
the senate an opportunity to join the
house in the passage of bill author
izing the issue Of low-rate short-time
bonds, and the invitation to purchase
was extended to the general public in
Difference to the generally expressed
popular demand.
There has been at no time the
slightest indication that the senate
would respond to the appeal of the
C4CCutlVC AOI XOn4SAl0A 1Ok AoA0OAOAA, 6AO
the grant of 80 days for proposals
therefore, is likely to prove annoying
to the treasury, as no relief can be OBJ
tanned until the expir alton of that
period.
1.-THE agency in New York city,
which is responsible for the exporta-
tion of gold, may yet force the secre-
tary of the treasury to put out silver,
said an officer of the treasury. "The
president will avoid it as long as pos
sible, aad when it finally comes he will
say that he has been forced to the
position by the bankers. Mr.. Cleve-
land is reaching the conclusion that
gold Withdrawals are not due wholly
| to the natural laws of trade, but in
part to a conspiracy against the ma
tion's credit. The effects of silver
payments would be felt most seriously
| by the New York bankers themselves,
who proc eed, evidently, upon the
| theory that Mr.. Cleveland will go to
the very extremity of his resources be-
fore adopting the alternative of silver
payments.
'sBy silver payments fmean the re.
demption of Sherman notes in standard
silver dollars at the subtreasuries OF
the country. There are about thirty
million silver dollars in the treasury
and the president has considered the
sdvisability of paying them out for the
| redemption of Sherman notes since
| congress refuses to to make any pro
vision for retiring the Sherman notes
which arc used for draining the treas
ury of gold. When these silver dollars
are once paid out they will be kept in
circulation in lieu of the Sherman
notes"