The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-11-26
SECRETARY CURTIS
NEW YORK VISIT
No Information Can Be Obtained at the
Department.
PLAUSIBLE THEORIES ADVANCED
The Visit May Have Been Made in
Connection with the Proposed Re.
newal of the Issuance Of Gold Ger.
tificates.. .Conferencc ut the Sub.
Treasury in New York.

Washington, Nov. 25.-Assistant Sec
retary Curtis has been in New York
two days, but will be at his desk again
Friday. No information is vouchsafed
at the department as to ths cause for
his visit to New York, but it is believed
to be in connection with the proposed
renewal Of the issuance of gold certifi-
Gates. 1t was generally understood at
the department that upon the return
of the assistant secretary, Secretary
Carlisle would issue an order permitting
the resumption of this practice, he hav-
ing authority under the act of July II,
1882, to stop the issue of gold certiti-
Gates whenever the reserve fell below
the one hundred million mark. The
cessation of this issue has happened
frequently during the past four years,
but 1t is now believed that the ordinary
course of business will not interfere
with a practice that has been found
convenient for the banking institutions
of the country and particularly for
those in the large cities.
There has been no stable gold bal
ance since 1893. When Secretary Car
Isle took hold of the treasury in March,
1898. there were $ll60O0,OOO of gold GER
tificates outstanding, but they have
been steadily withdrawn. When the
first suspension Of the issue of gold
thSiS "SiS gan
100000 outstanding. This happened in
April, 1898. After the sale of bonds the
gold reserve was recOuped, but only
temporarily. On two occasions the is
sue of gold certificates was resumed,
but it was stopped at both times with
in two or three days after the order was
made permitting Them. Then the sec
retary decided not to again direct their
issue until the balance was stable and
,f hat hnI yalN
1t through period of many months.
Today the outstanding gold certifi-
Yates aggregate only $39.5SS,139. The
issue proposed consists of denomna-
ions of $1,000 and $4,000. and will be
issed to such persons as deposit the
gold in the treasury upon which they
are issued. These issues are largely
used by banks as part of their reserve
fund and enable them to carry large
amount of the equivalent Of gold with
out the bulk of the article itself and
without the attendant losses by abra-
sion, etc.
CONFERENCE AT NEW YORK.
New York. Nov. 25.-Assistant Treas
urer Curtis, Assistant Treasurer Jor-
dan and President Tappen, of the Gal
latin National bank. conferred for near
ly a hour in the sub-treasury today.
when the meeting was over, what sub
ject had been under discussion, but
there were any number of rumOrS in
the street as to what has occurred
One report had it that the conference
was held for the purpose of obtain
ing facts on the financial condition of
the country for use in the presidents s
forthcoming message to congress. An
other report was that the gold reserve
was the matter under discussion. that
Hhe administration was desrous of
having at least 100000, 900 gold in the
treasury when it retired, and wished
therefore to get the views of prom
inent tinanciers on the situation.
The likelihood OF the syndicate, Or
ganized last sLring by President Tap
pen to prevent gold from going abroad,
continuing it's efforts to keep gold in
this country in the event of the bal
ance of trade shifting. was also dis
cussed, according to rumOr, as was
the reported intention of Secretary Car
Isle to issue gold certificates.
CONFIRMED BY LATER GOSSIP.
Later gossip, In a measure, confirms
the statement that Mr.. Curtis visit
was In connection with the PROPOSE
tion for the resumption of the issue
of gold certificates by the treasury.
Many requests for the issuances for
certificates have been made. No GER
tificates have been issued since 1893
when the gold reserve in the treasury
fell below $1OO,OOO.OOO. The law says
no certificates shall be issued when the
gold reserve is less than 100000. .OOO
1t has been placed above that sum
since 1895.
Mr.. Curtis would not speak of his
talk with Conrad N. Jordan, the as
sistant United States treasurer.