The times. [volume] (Richmond, Va.) 1890-1903, 1896-01-14
GOLD REsERvE NOT SEGREGATED.
Secretary Carlisle Replies to tho senate
ResoIution-The Reserve.

WASHINGTON, ID. c.. Jan. S.-Sec-
retary Carlisle to-day sent to the senate
his reply to resolution adopted Janu-
airy 80, asking III the sum OF sloo,VV'oVo
or any part thereof has at any time since
the establishment OF the so-called gold
reserve been actually segregated or set
apart from the other currency or money
I'm the Treasury. in gold coin, or gold
coin certificates. or either. for the re-
demp'ion OF the legal-tender notes and
different forms OF paper money OF the
Government" Also, when and how the
gold reserve was established
The Secretary says:
The Senate Is respectfully informed
that at no time since the establishment
OF the so-called gold reserve has the
sum of 500 600. 600 or any other sum been
segregated or set apart from the general
cash I'm the Treasury for the redemp-
tlon Of the legal-tender notes OF the
United States. or for the redemption Of
any other form OF paper money. for
which the United States IS liable.
There is no provision of law requiring
n separate fund or separate account TO
be kept. and all moneys received into
Treasury 10 prepare and provide for such
deposited in the general cash.
The fund for the redemption OF United
States notes was accumulated under
authority OF the act of January "a. 1875.
which directed the Secretary OF the
Treasury TO prepae and provide for such
redemption on the first day of January.
1879 No specific sum was prescribed.
but the Secretary Of the Treasury was
authorized to use the surplus revenues
from time to time and 10 sell certain
descriptions of bonds 10 an extent neces-
sary TO carry the act into full effect.
Tn the exercise OF the discretion thus
conferred upon him. the Secretary sold
for redemption purposes In 1877 and lh7s
United States and 10 per cent bonds
10 the amount Of So. 500 600. and deposited
the proceeds-s9e Geo. I'm gold I'm the
general cash in the Treasury. This. with
other gold. which had been received as
surplus revenues, constituted the fund
prepared and provided by the Secretary of
the Treasury for the redemption directed
i'm the act Of January IL. iSi3.
THE existence OF the reserve fund was
generally recognized from the time or
it's establishment, as above stated, and
one OF the measures adopted by the Sec
retary Of the Treasury to prevent its un-
necessary depletion, was the discontinue
ance OF the issues Of gold certificates, au-
thorized by the act OF March IN, lSb5.
This act authorized. but did not direct
such issue. -,
some inconvenience resulted from tnis
discontinuance. and by section 3 or the
bank act OF July l2, 1852. the Secretary
was authorized and directed TO receive
deposits Of gold coin and bullion. ana
10 issue certificates therefor, but II was
provided that the Secretary OF the Treas
nrv shalll- suspend the issue OF such
gold certificates whenever the amount OF
gold coin and gold bullion in the Treas
nv reserved for the redemption OF
United states notes falls below one nun
dred million dollars
"No other reference to the rserve tund
Is contained IN the laws of the united
CsioneO a. G.. CARLISLE,
Secretary"
Al the close Of business. the Treas
,,rv qold reserve stood at So. .46s,sI0 The
u,itbdra walls at New York to-day were
Sss7 900. OF which $4,000 was III soiu
coin. .,t..
NEW YORK. Jan 13.-The steamship
Ia champagne. which arrived from
Iavra Yesterday. brought 100000 francs
~ gold consigned to the following hrms'
1immerman A Forsay. l,5O.NO francs;
/, Won Hoffman q Co, 100000 trahcs'
and Credit Lyonnaise. 100000 francs.
The steamer Aurania. when arriNeu
fror Tiverpool yesterday brought LOW
hounds. gold. consigned to Brown bros'
& CO.