New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-10

O, the United States 20 continue TIE curren, redenl-
parity o. the Two ne,al- he eAjlris ID: COLA during
the fiscal year ~ VIZ" c'oi ~ Ms -, So |
nearly ~. OF which Vas Withdrawn rom me pibl.c
ion During lie ihree n.nths noNi prece.'ns -.
7ih lat II March 1893. ra"r assume. control ~
'Cre,..ry amornfai ~ 81 ao. rnilc tho exports
amounted 90 '2J1f.73O, az" Dung the cgh' months
70 s0iSi2,s Viii, nc sports amounted to 5000.
80. showing an excess y withdrawals over exports
large sale in June IS. the LOST month Of the fiscal
year lsge and continued win only Short periods
Of interm-s!an Hn,h ne c.,c o. ~" sS ,ec g,d
n the Treasury amounted to SigL-,G.6.- 20 bui 10y
January q. 1895. Il m. been reancel 20 !ih 81
Iis g. ana on Ic6rlaSsry q Il hni ielisn TO N%Z rs
serve The resrFye funi would have fallen n,ow
sG0,ODN1 before Marca J. 1888, II NY pfed"c' cor ~
office had not Effected arrangements ~ January ana
Fcbruary by Which the SIN, qr hbor, s'a N
York IN xchangc for United safes notes and other
during each OF the months OF November and De
eember ~ ana January ana FeniGafy' io.' o tee
deficiency Tor The four months being $50 q.
ana on the 7,h day Of March, 1873, The available
included NctS2 40 In gold sys. 40 IN excess Of
the Lawful reserve but hy makns e4changes 81
OF the country. the amount was incre.sed TO No.,,
,Sf as hT wce zen az ' IN thu ' ntcrs "Se
Notwithstanding the most strenuous efforts ny
intact, The presentation OF noiee for redemption 10
procure gold for shipment abroad Continued to such
FIRST tine since the tInd was esiab.ishel I; be-
came Necessary TO use part OF /, for r REDEMPTION
purpose, and it was reduced to $751; but II
was afterward Increased by EXCHANGES 9i ot t
forms Of I f2r so 80 nst &H "S and br
was on hand nca css go in free goit; 6ni by peesm
reduced on the nth day of January 1891 to the sum
OF SG9 ~ s2i The cash balance then in the Treas
The gold reserve and all subsidiary and mirror coin.
onlg s3.sflo Very Ntle gold was being re;
Of IA
it was therefore Impossible to Increase the reserve
| without resortlne to the Issue and sac Of bonds.
under the authority conferred by the nc, Of Janu-
airy a. 1875. commonly known as the Resumption
The Treasury all hG c3n on hand - 6 s nc, cnvrId
by Outstanding eerentcs the u, SS,9oS-f then hea
Quoting the provisions of law wa!ch authorized
this course to be taken. Mr. Carlisle proceeds 10
state that on Tho 18th Of January. 1891. bids were
Invited for 100000 Of per cent bonds On not to
exceed Per cent basis. The proceeds Of this
sale amounted to the sum OF &SGO,slI g. when
was paid into the Treasury In god coin and god
certificates
The circumstances which led to the next Issue
then descbed
ON the cth day Of March, 1884, after this sac had
amounted TO the sum OF fo74ieSG. and after falling
to SsiD en- the IN dsy Of Augnsl iss !, s wal
coin for United states notes and other currency ny
payment .: dues 70 he oiovefnment until the l4h
day Of November. 1894. when 1t reached the sum OF
quent presentation Of notes for redemption IN 500
by individuals and Institutions not desiring II ioi
export clearly Indicated the existence OF fsslins OF
change was almost constantly at or near rae
which made II necessary to export gold 70 pay bi
at their maturity, and consequently Withdrawals fo
shipment were daily threatened. and rs the season
was then approaching when. In the usual course o.
trade and financial operations. large exporiation
. nearly always occur. II was considered absolutely
necessary for the maintenance OF the public crcdl
and the continued execution " the monetary poke,
declared by Congress In the act OF july a. 1890 am
repeated In the Of November !. 1S93 10 resor
!, again issue OF bonds
i Inc result OF this proposition Was that iS bid
, were received amounting 70 s7s.S8 $50. nearly al
! OF which were a, rates which would Yield TO "a
investors per cent or less upon the aunls awarde
to them. one bid for the whole snm ot 100000
''al or none upon the basis OF 2s1S per cent beln
: | the most advantageous Offer for the Governman
that was made. was accepted, and the proceeds o
the sale SS53sjC0 paid into the Treasury, nc
j cordng TO the terms Of sale The payments int
| The Treasury account OF this sale were not er
y trely completed until after the lst day OF Deem
g action had not been effectual to stop withdrawal
/. OF gold. In that month the withdrawa.s amount
= | TO SN 9y7 III and during the next january, ise'
/, they amounted to si5l17.'Ss and they continue
ruary until ON tho Sth Of that month the RI