Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1896-03-21
GIVEN AN EQUAL SHOW.
Secretary Carlisle Says Ho Has Not Dis
criminntcd Against Silver.


criminatcd 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 incumbency of
the treasury portfolio, and whether he
has, in dealing with the subject, dis
credited silver, the secretary says:
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 in gold coins
and gold certificates, and in no instance
has the least discrimination been made
against silver or It's paper representative.
"In no instance has silver or silver GER
tificates been refused In payment OF
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-
sented for redemption, gold is paid II 1t is
demanded, and IL silver Is demanded, sill
yer is paid. Thus the coins of the two
metals are treated exactly alike in maxi
ing payments by the government as wen
as in the discharge of debts due to the
government.
'It 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
of the government TO anyUne who
will deposit an equivalent amount of silver
certificates or treasury notes of 1890 with
the United States treasurer or any as
sistant treasurer, or with a national bank
depository, and subsidiary silver coins will
be sent by express at 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.
"In August 1898 there was a great and
unusual demand in nearly every part of the
country for currency of small denomina-
tions 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 short
period 1t was compelled to suspend pay
ment in standard silver dollars, except in
| 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-
| tained 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 a 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 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 1t
| 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 it's cost price, and in
standard silver dollars coined from tho
purchased bullion, exactly equal to, the
he cannot, therefore, lawfully use such
standard silver dollars except for the re-
demption and cancellation of treasury
notes.
During the month of August, 1893, treas
ury notes to the amount of 81, ,273, ,267 were
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 $19.533,722. 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 $l10,000,0cO in gold has been
| procured in exchange for other forms of
| currency. or this amount SS915,Sl2 has
been procured in exchange for silver coin.
| and $40, 1928, $3.50 in exchange for silven GER
| tifcates. The department has never re-
| fused to exchange silver for gold when 1t
had silver that could be lawfully used for
that purpose, and If 1t had so refused, !
am wholly unable to see how 1t could be
considered discrimination against silver.
Is a refusal to pay out gold in exchange
for silver a discrimination against gold ?
If not it, of course. follows that a refusal
to pay out silver for gold is not a discrim-
nation against silver.
I'm response to your verbal inquiry oon-
cerning the coinage of standard silver dol
lars during the present administration
you are advised that 1t amounts to the
sum of So 662, 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 1892. up to
February, 1878, q period of Sc years.. was
S,030,000. Yours truly,
~. G. CARLISLE"
| p,.uh,ni INC NLhDHEn