Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-05
A Provision for an Expected Demand
for Currency.
ISSUE OF GOLD CE RTIFICAfES
Printing of This Form Of Money
Suspended by Secretary Carlisle.
MR. g A q E'S lew S

The Treasury Dercrtment today made
requisition upon the bureau of engraving
and printing for the printing of $40, 900, 600
in gold certificates in denominations of $40
each. The treasurer now holds large un-
issued supply of certificates of the larger
denominations. 1t is the evident intention
Of the Treasury Department to be in a po-
sftion to issue gold certificates freely for
gold coin, should the fall movement of cur
rency lead to a demand at the treasury for
gold certificates in exchange for gold COIN
1t is to be noted that while gold coins can
be freely had in denominations of fives and
tens the law restricts the issue OF gold GER
tificates to denominations of $40 or multi
pies thereof. 1t is debatable question
therefore whether gold certificates will ade-
quately meet the demand for money of
small denominations.
supply of Certificates.
The subtreasury at San Francisco has al
ready been notified by wire to resume the
issue of gold certificates on deposits of gold
and In payment over the counter Of gov
ernment obligations. The other subtreas-
uries have been notified to the same effect
by letter, which they will receive before
business hours on Monday morning The
subtreasurers haye also been advised that
the government will ship them an addl-
tional supply of gold certificates today, ag-
gregating about $10,0600OO.
1t is anticipated that the gold certificates
most in demand will be what are known
as ito order certificates"
These will be issped on request to in
dividual depositors Of gold and in their
own name in sums ranging from 5000 to
$4,000 each. The government now has in
its vaults between sBS.O0O8OO and 10000
600 in gold certificates of what is known
as the Series of 1855" and these will be
supplied on demand until others may
printed at the bureau Of engraving and
printing"
Suspended by Carlisle.
1t will be recalled that Secretary Carlisle
suspended the issue Of gold certificates by
authority for SO doing was that contained
in section IL of the. act of July IL, 1882,
which made it obligatory upon the Secrc-
tary of the Treasury to suspend the issue
whenever the gold reserve retained in the
treasury should fall below s1oo, 100000.
This question of resuning the issue of
gold certificates witch wRs suspended by
Secretary Carlisle, has been under con-
sideration by Secretary Gage for several
months. He has given 1t his best thought.
and 1t is believed has secured the views of
other leading fi1anciers throughout the
country before taking action.
Secretary Cages View
speaking or sthe order issued by him,
Secretary Gage said: 'It is now apparent
that in the fail movement of the crops
there will be a pressing demand for more
currency or paper money. AS this can be
furnished in no other way that by the issue
of gold certificates. there will undoubtedly
be a demand more or less great upon the
treasury for such certificates against the
deposit of gold coin.
1T is in anticipation of this that certifi-
Gates are being prepared. No such demands
have yet been made, and it will be crafty
ing to the Treasury Department If the de-
mand is not made but it will be ready to
meet 1t If 1t arises"