Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-03-09
THE TREASURY CAN SPARE IT
Gold on Hand Greater Than at ANY Time
Since 1890.
The Fifty Million Dollars Called for
Taken without Apprehension.

Secretary Gage will be able to spare the
$50 100000 called for in the Cannon resolu-
ton without Gripping the condition of the
treasury. The fact that the treasury is
able to spare this is source of universal
qualification to republicans. The amount
could not be taken from the treasury with
out an issue of bonds to secure more if
the situation in the big government bank
was as when the Wilson bill was in opera
ton. Then the cash balance was almost
daily being attacked to make up for a
deficit in the revenues. This was also the
case with the present administration until
the Ding1ey bill began to demonstrate in
December last its ability to take care of
government expenditures. There is. there
fore, no longer a fright about needing the
government. 1t is felt by Secretary Gage
that from now on there will be no deficit
unless 1t should come in the month Of
April next. Whatever deficit there is then
will be wiped out by the surplus of other
months.
Secretary Gage some time ago estimated
that he could spare $75.00O00O for imme-
date war purposes and have enough
available cash left to safely conduct the
business Of the nation. He can spare
nearly all of this in gold, too. The net
gold in the treasury is more than $16S, 500.-
900, of which $10O,O00,0OO is the historic
SOiu IeSSTNe, leaving over @oO,uOo,OUU VI Tic
precious yellow metal which can be paid out
for foreign warships or whatever the
country needs abroad that requires gold
for payment. This state of affairs is par
ticularly fortunate. If the supply of gold
in the treasury had been small the pur-
chase af war vessels abroad might have
rendered q bond issue necessary to secure
gold. Probably this healthy condition of
much to do with President Mckinley sane
tioning the appropriation of $50,0e0,000.
Secretary Gage is being congratulated upon
this state of affairs.
Not only is the supply of gold the larg-
est since 1890, but treasury officials be-
lieve that the amount will continue to in
crease in the face of war preparations and
the general belief that conflict is immi-
Hent. Europe still owes this country a bal
arce in gold, and several millions are now
on the way here in exchange for Ameri-
can products. This will find it's way into
the gold reserve. There is nothing to
cause the gold to go to Europe for months
yet unless it is the purchase of war YES
sells.
Treasury officials say today that they see
no probability of any kind of run on the
geld reserve. They also see no reason why
gold should be boarded. Any attempt to
start a run the gold reserve would be
denounced in such terms as to put stop
to it.
If the situation should demand further
appropriations Secretary Gage could spare
at least $25,O00,0OO more out of his Golfers.
More than that might bring about re-
quest that Congress should provide the
means to furnish it. 1t is believed that
Secretary Gage will inaugurate plans to
still further strengthen the treasury. The
President feels, 1t is said, that in the pres
ent crisis he has the best man in the coun-
try at the helm. Secretary Gage has been
strongly opposed to war talk up to Sun
day. Now he is with the President. He
thinks the turning point has been reached
and will oppose no preparation for the de-
Tense of the country.