The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1896-04-30
THE GOLD RESERVE.
another Opinion a. to the Way In WhIei
-. a.EndIa.E Ck.Ir.,. IEc-l-.

Another opinion As 70 the Way In wAIsh
the ENDLESS Chain" Works
sstop the drain on the gold reserve
nv increasing the revenue continues
10 be the senseless cry of the gold-bug
sheets. They would like to have the
neople quarreling about higher or
lower tariff and larger or small internal
revenue taxes instead of considering
the effect of the single gold standard.
How any sane person can maintain
that it is lack of revenue that depletes
the gold reserve is more than we can
understand. Only the other day the
administration obtained another SI15,-
OOO, 900 in gold by the sale of bonds, in
addition to the gold which it previously
obtained in the same way. Yet the
official tables issued by the treasury
department show that the excess of
expenditures of the United States for
the year 1905 over the receipts was only
s34, ,0o4, ,4s2 rs it not strange,
Il the disapps,s-al OF gold Is
due to lack of rc.4ue. hat Sis, 600,
600 Of gold had to be bought
to cover this S34 ,00o, 600 deficit? 1t is
the same way il we count back to the
beginning of the raids on the gold re-
serve. The amount of bonds sold is
largely in excess of the total amount
of the deficit in the revenues. We
have not yet seen any attempt to ex-
plain this discrepancy by those who in
sist that more revenue is the panacea
In another way the same thing can
be demonstrated. According to the
official statements the total amount of
cash in the treasury on April so last
was S757, 442, 1876. The amount on De-
cember 81 last was 1857, 57s, AT, almost
exactly the same as on April 30 Yet
behold the difference in the amount of
the gold reserve and the cash balance
exclusive of the gold reserve on the
two dates:
Gold Other Cash
Reserve. Balance
April l1................sel, ,247,iA ss57O,772
December 3l............ GAGE POS li5.7d4,933
The amount of gold certificates out
standing was nearly the same on the
two dates. In other words, the gold
reserve, which is the surplus OF gold in
the treasury above the amount of gold
certificates outstanding, had fallen
G27,os5, 900, while the surplus of other
kinds of money above the certificates
and checks outstanding had risen $95,-
19i, ,000 Now where is this surplus?
Examination of the tables shows that
il is IN the holdings of United States
notes or rreen backs in the treasury,
w,Ach increased from S7o, 267, ,O10 on
April 20 to stla, 600 on December
81, IN increase of $50, $4,000 in the
amount OF this kind of money held in
the vanlts of the government. The
difference between the increase of
greenbc c!,s and decrease OF gold IS ac-
count>a TO- by increase in the alnouht /
Of silver dollars and silver certificates
outstanding and minor changes in
other accounts. The figures simply
chow tilaf; while the government had
ipGt alyu The same amount of money
IL ita g1ai.s on BaeanLbar 81 1th3t IL
had On 4 pti, 30, it had traded eold for
the Grce'iAa-lss presented by the Wall
street saaris. Il had tha greonblclsa,
DO. tie gold reserve had dropped 52s,
&C. 900
80 long 90 tho treasury persists in
redcar'-o.s "A gold alone this must con-
t.tac, cgal though customs duties were
4 GoUa'' il amount and were payable
n Fe Gcl datil practically all tho green
II 4af''s lrc cbsorbed and locked up in the
II steHSsrY and Withdrawn from circula-
fio.. that would be the result of q
7atJ- Ncess of receipts over eXpendi-
,oreF' with Wall street keeping right
-!onT working its endless chain and
'es tE1t matter, the same result is
Lc.a1 re-ched now through fictitious
lneye- . in the revenues by means OF
tcnd les. The surplus of receipts
over expenditures that is thus being
created is being locked up in the
treasury in the form of greenbacks and
The circulation is being correspond
ingly reduced.
II the gold policy is to continue Mr..
oieyeland is logically right in demand
IN! that the government cease issuing
paper money. The only way it can
safely do so is by using the constitu-
tional option TO redeem in gold or sill
II YER The people must understand and
race the fact that they must choose be-
tween the full recognition of silver
and the turning of all paper money
issues over to the banks. If the pres
ent state of affairs continues, whether
Z through repeated bond sales or in
crease in the revenue, the amount of
E greenbacks held in the treasury will
steadily increase until they have prac-
tically disappeared from sight The
next step of the money power then
"a he - kl1k
N paper" these promises to pay" shall
be destroyed in order that our sound
# money" may become sounder. Those
who would oppose such move would
be denounced as fatists and imitation
lists. It's getting pretty near time for
the people to wake up. one-third OF
all the greenbacks are already locked
up in the United States treasury.
Denver News.