New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-08-06
TO ISSUE GOLD CERTIFICATES.
THE TREASURY DEPARTMENT PREPARING
TO MEET THE EXPECTED FALL DE-
MAND FOR CURRENCY


TO MEET THE EXPECTED FALL DE-
MAND FOR CURRENCY.
Washington. Aug. 5-The Treasury Department
to-day made a requisition on the Bureau OF En-
craving and Printing for the printing OF 100000
in gold certificates Of the denomination OF &o. The
Treasurer holds a large unissued supply OF
certificates OF the larger denominations IL Is
the evident intention OF the Treasury Department
10 be In position issue gold certificates freely
for gold coin should the fall movement or cur
rency lead to a demand for gold certificates IN
exchange for gold coin It to be noted that while
gold coins can he freely had In denominations OF
g. and 80. the law restricts the Issue or Rod GER
tifcatcs to denomina of $50 multples there
Of It Is debatable question therefore, wnether
gold certificates will adequately meet the ueiha'''
for money Of small denominations.
II is now apparent that IN the fall movement
OF the crops there will be pressing demand ioi
more currency paper money. AS this can oe
furnished in no other way than by the Issue VI
god certificates there will undoubtedly be a De-
mand more or less great on the treasury loi SUI"
,a-,,aco,es against the deposit OF gold coin.
The Sub Treasury at San Francisco. has ALREADY
been instructed 10 resume the issue OF go'u ce'
,incates on deposits OF gold and In payment os'l
the counter Of Government obligations. Inc ''"''
sub, treasures have been instructed 70 the same
effect by letter which they will receive oetore DUST
ness hours on Monday morning The suo-reasuf
orc have also been advised that the government
,.u sbi, 70 them an additional supply or goid GER
,acates to-day. Of what IL known hs DtPd' NJ
series I'm denominations ranging from ," W ~"
and aggregating about No""O0 IL - an''o'pa', "a
that the gold certificates most In demand WIN We
vba, ,s known as "to-order certificates 1nese
.ui NO ,ssued on request to individual depositors
~ gold and I'm their own names. In sums rang
ing from 5000 20 $1,000 each. the "oVern".e"'
now has IN It's vaults between &Ss"""" al" w.
90 90 in gold certificates Of what Is known "S
,.H ha
demand until others may be printed at VIC ~
, Of Engraving ana Printing
7, will be recalled that Secretary carlisle suS-
/ ,.,ded the .ssue OF gold certificates by an oruet
PROMULGATED April Il. 1923. Hts authority was .,
contained I'm Section l2 Of the act OF july L. i''
which made 4 obligatory on the secre'aiy u -"
/ ,r,.,sur, TO suspend the issue whenever 'he so''
.,,.ad i, tho Treasury should fall be-
/ -, ,,oo ,,o ~. This question OF resuminS the Issue
/ y, goli certificates which was suspended u! ''
tarv Carlisle has been under co''si" 49,
| ccr.,,rv Gage for several months lie mas CIV.
| the question his best thought ana " 10 ,s-
o.,,,od tho views of other leading hha"''e'
,,,,,,, ,ie country before taking this step.
H. NJ ,r.vel,nd's time the gold reserve fel oe'oN
,o.,,,,,, aud IN. issue Of gold certificates ceaSeu
',,dor The direction Of Secretary Carls'e' re
,,o,er ~ the Department In the case hpseu
y,ben once the reserve was uehcheu up''.' -,
.ir.a,os were afterUard issued for TWO or'ei
! reripls
ca, 49,, ,cessIon Of President Mckinney 'he
49,, ,a hean under discussion In hnahc'a' "e"'
,orors and among bankers and inquiries "''' 1871
ddressed 10 the Department ana cou"'o' ~.
r.l,,ive 10 the resumption OF the iss"e' 80, 49,,
cogo has given much consideration |" '
legal and the business aspects VI Wv -. -.
:, 6, understood that he has been advised ,hat ,ie
i, ~ these certificates is an administrative
measure wholly within his discretion -, 1,
The present call for paper money " nv
,o, duo to any reduction OF notes OF "4! NM -
,r,easurv has for a long period had only '-o'
for use IN all its offices. and mas pee" ao'e ~,
o,,, notes only IN redemption o: IN ehchaise ioi
-, ,,o,orinations All the rest OF the *Sfo"p"N
.ar O. IN tho hands Of the banks or the people
o,d &, unusual degree In the Northwest anu '"o
Southwest. ~ -, cold cert,n
Secretary Gage resumes the issue OF so'u oe' WI,
Gates with the purpose OF ex'ehu'ns 'ie an ua,
| government In moving the crops in any proper way
.ha, orers or Is believed by prudent people 10 oe
| .,,, Nou that the Department mas gone " ''o
| irit ~ its power In this direction Is i"S'
,hat the hanks and the people must ADJUST 'ne'"-
| selves 10 the situation =, ,..,o,
| No GOLD certificates under the la" De is'uu
for denominations less than $50 treasurer MOVE
| uoo,s o,,ertion to the fact that the demand TOT
currency is in much the greatest degree TOT s","e
| notes BY using gold certihcates io' 90 -
| ward the other kinds Of paper can ue 'u,' ,,,
| 49,, - into donomina tlons smaller. and TINS WIZ
o,vo some relief Gold coins can be useu III ~ az" ~
40 denominations II popular prejudice VII. pc ~.
| treasurer Roberts emphasizes the fact 'nat iot
these certificates gold coin must be depos.eu ~ VIC
Treasury absolutely dollar for dollar lh' No'"','e
:. -..,,,, ,refore cannot receive any increment
-, ,hts nrocess A certain fuidity Is. however
added since the certificates VIII be LIKELY 10 wrS
passed from hand TO hand ana DE s"'D'e' WV"
Hone is expressed by Treasury ofhcais INA. s're
~, ",,i,s ~ the Department at all It's oinces gre
ons crowded banks will turn In coin ohIy LOT
! fair business reasons to secure currency LUZ "e0'
The following letter OF Instructions was sem reas %
| Treasurer Roberts to-day 10 III a
The Secretary OF the T5eas4TX nas according
" nractice You will receive cold coin when
oneped and deliver gold certihcates IN exTn a hs
uiha. iamanded in such denominations as tne az
BOSTON may cali for Your ofiice VIII RECEIVE sep,esd
pOnni, ~ gold certificates they may De reQuiieu
supply VI Lii nease Indicate what denominations
viii viii be most useful and how large volume VIII
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