The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-03-17
as we'll a. in the discharge Of debts duo to the

- wen rs ~ tne uiscnarRe OF ueots uue 70 Vhe
at has always been the policy Of the Treas.
ury Department to encourage the use OF silver
to the largest possible extent. and In order to
accomplish THIS standard silver dollars will
be sent by express Mt the expense Of the Gov
eminent to any one who will deposit an equiv
alent amount In silver certificates or In Treas.
ury notes of 800 with the United States Treas.
urer or any Assistant Treasurer or with a ma.
coins will re sent by express at the ex pense OF
the, government to any one who vii. deposit
with such officers or banks any kind of United
gold is not sent TO anyloiy free Of charge.
usual demand In nearly every part OF the coun-
try for currency of small denominations, and
Treasury department paid out. in dcfreying tho
expenses of the Government and In exchange for
c CohI5 fhS n Tsw o. Sur nsaS ia a., bd the r stlyer that at
that for n short period II was compelled to sus.
pend, payment in standard silver dollars. except
Ia the redemption Of silver certificates and
The law authorizing the issue OF silver cert.
the coin deposited for or representing the GER
tifcates shall he retained In the Treasury. for
the payment Of the same on demand II Is
therefore. plain that whenever the amount of
silver dollars in the Treasury does not exceed the
amount of silver, certificates outstanding, the
redemption Of certificates, At such times lie
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
sists of the bullion and the standard silver dol.
lars coined from the bullion purchased under
for the purchase Of silver oullion at the market
price. and the issue OF Treasury. notes In pay
ment for 1t. and 1t also declares that no great
er or less amount OF such notes shall he out.
standing at any. time than the cost of the sill.
S yeE Sul tbsret Soa the hen st9 Saia n silver tby Tr 6Silnrs
purchased by such notes. Under this proyi.
sion the Secretary is required to keep In the
~ naNtrV ne MI ftpnno M pNnrnf 90 pt1.Enr bal
lion. at its cost price, and in standard silver
dollars coined from the purchased bullion. ex.
outstanding. and he cannot. therefore. law.
fully use such standard silver dollars except
for the redemption and cancellation of Treas
my letter to the United States Senate, upon
which, Mr., Crlsp's statement seems, to have
August. 1903. and at that time there was no
free silver in the Treasury. That is. there
except such as the law required to be held for
the redemption OF silver certificates and the
nr Urea notes o = ai o. I IsSoi ana these ,e assumptions
every other month when these forms of currency
were presented. During the month of August.
2B7 were redeemed in silver and cancelled. and
since the first day of August. 1893. the totatl
is $40. $40. 7a2. Prior to my admin
~stration of the affairs of the department., none
of these notes had been redeemed in silver or
"Slnce the beginning of this Administration
nearly S11O, 000. 900 in gold has been procured
in exchange for other forms of currency. OF
this amount SS.015.S12 has been procured In
for silver coin and S10.329 $50 in ex-
change for silver certificates. The depart |
ment has never refused to exchange silver for
gold when IL had silver that could be lawfully
used for that purpose. and IL it had SO re-
fused, | am wholly unable to see how II could
be considered II discrimination against silver.
Is a refusal to pay QUO gold in exchange for
silver a discrimination against. gold! If not.
It of course follows that a refusal to nay out
silver for gold is not a discrimination against
silver.
I'm response to your verbal inquiry concern
ing the coinage of standard silver dollars dur
ing the present Administration, you are adj
viseh that 1t amounts to the sum of So. $3.50. 900
up to the 18th day of this month, while the
amount OF such dollars coined in this
from the establishment of the mint in
] 702 up to February. 1878. a period of eighty
six years. was SS. O3O, 900.
Il enclose herewith a copy of my letter to the
United states Senate referred to above. Very
truly yours, j. Il. CARLISLE