The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-22
is NOT WANTED
UNITED STATEs GOVERNMENT Is NOT
ACCEPTING 1T FOR SILVER.
Treasury 10 Only Exchanging
Them for silver Certificates.

CHICAGO, Sept. 1.-THE Times-Herald's
Washington correspondent says: 1t may be
an astonishing statement to say that the
United States government refuses to accept
gold of Its own coinage In exchange Tor
silver dollars, but that IL what at least one
subtreasurer Is actually doing. The COM
plant from st. Louis, where the SUBJ
treasurer declines to exchange silver dollars
except for silver certificates. Neither gold
nor bank notes will tempt the white coins
from his vaults. 1t is quite possible for the
United States treasury TO reach a point
where a general order will be issued to all
subtreasuries forbidding them to exchange
silver dollars for gold, national bank notes
or any other form Of currency except silver
certificates. Uncle Sam presents the re-
markable spectacle of trying to get rid of
gold and of boarding silver, all Of which Is
an interesting phase Of the wave OF pros
perity.
While the treasury has In its vaults gold
to the enormous total Of $342, SOL .64s. Of which
$z55, 022, $50 is not covered by gold certificates,
and while this dazzling hoard IL steadily
growing larger. there is a famine OF silver
dollars. The country ID doing such a tre-
mendous business that the people are raven
cus.y hungry for money of small denomina-
tons. In the East there is a special demand
fer 81 and 50 bills. In the West silver dol
lars have been drawn from the suotreasurles
until their stocks are about exhausted. In
all Sc .tions there Is such a demand for frac-
tional silver that the government supply will
Keeps up. The treasury has on hand $4OS.-
576.l36 in silver dollars, but the most of
these must be retained in the vaults Tor
which aggregate sios. Isl. 5o4. This leaves
s3SS. s3z in silver dollars in the treasury ana
its branches that are not covered by notes.
Gates as Is to ,fa the 'a amou unsfe Of ass s. s Sh So n.i but ee these
might all go on: on the day OF some heavy
payments. az for pensions. and the treasury
their guide. 1t is therefore conceivable that
the government might pay out available sill
Yer dollars In Its possession when 1t would
csa aS@D for any .S s Of the e los s SSo go s silver IN dol Id.
lars covered by certificates. This isI not a
fanciful statement. for on last Monday the
81, 001. Last February the treasury had
more than 100000 Of uncovered silver dol
lars. and even that number was considered
small.
The cry for money for making change Is
well indicated by the fact that Of the four
teen presses at the Philadelphia mint seven
minis have on hand about 81, 900, 600 in abrad-
ed fractional silver that is being recoined,
but the country Is taking these small coins
about as fast as they can be turned out:
COW to 1856 s, and there Is no law for
buying any more bullion for this coinage.
Government officials fear the entire stock
of small silver will be called into circulation
before Congress can take action to meet the
great demand.
All of these unusual conditions are attrib-
uted to the phenomenal and universal pros
perity In the United States. The number of
business transactions has grown so large
as to call for more money Of small denomi-
nations. and the embarrassment of the
treasury is a cheering evidence Of wide
spread good times among the people.