River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1896-03-19
GIVEN AN EQUAL SHOW.
Secretary Carlisle Says He Has Not Di
criminaf cd arninsf ..iIrar


eliminated Against silver.
Washington. March lin response
to letter from Representative Patter-
son (Tenn.) asking Secretary Carlisle
to state fully how he has dealt with sill
YER currency during his incunbency of
the treasury portfolio. and whether he
has, in dealing with the subject, dis
credited silver. the secretary gays:
I'm 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 I'm gold coins
and gold certificates. and in no instance
has the least discrimination been made
against silver or it's 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 in
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-
scented for redemption, gold is paid II IL IS
demanded. and If 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
TT 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
viii deposit an 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 al the expense of the
government to anyone who will deposit
with such officers or banks any kind of
United States currency or national bank
notes: but gold is not sent to anybody free
of charge.
I'm August, 1898. 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 a short
period Il was compelled to suspend pay
the redemption of silver certificates and
treasury notes of 1890.
1.-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 not exceed the
amount of silver certificates outstanding,
the secretary cannot, without violation
OF law, pay out such silver except for the
he has no 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 I'm the
treasury which liz required by law to be
held for different purpose. 1t consists
of the bullion and the standard silver dol
lars coined from the bullion purchased
under the act of July IA. 1890. That act
provides for the purchase of silver bullion
at the market price and the issue of
treasury notes in payment for it, and IL
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 I'm 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 DulllOn, at 1tS cost price, anu IN
standard silver dollars, coined from tho
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 of treasury
notes.
During the month of August, 1898, treas
ury notes to the amount of s. ,273. 267 we're
redeemed in silver and cancelled, and
since the LIST day of August. 1893, the total
amount of such notes redeemed in silver
and cancelled is s19,533,722. 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 s1l0.00O.0O0 In gold has beer
procured in exchange for other forms OF
currency of this amount ss,915,S12 has
been procured I'm exchange for silver coin
md SlO.S29 $50 in exchange for silver Ger.
tificates. The department has never re-
fused to exchange silver for gold when II
had silver that could be lawfully used fol
that purpose. and IL IL had so refused.
am wholly unable to see how IL could be
considered discrimination against silver
Is refusal to pay out gold In exchange
for silver a discrimination against gold ?
If not, It. of course. follows that refusal
to pay oat silver for gold is not discrim.
nation against silver.
I'm response to your verbal inquiry con-
corning the coinage of standard silver dol
lars during the present administration
you are advised that it amounts to the
sum of IS s62, 900 up to the 18th day of this
month, while the whole amount OF such
dollars coined in this country from the
establishment of the mint in 1872 up TO
February. 1873, a period of Sc years. was
ss.030.o00. Yours truly,
~. G. CARLISLE"