New-York tribune., 1903-09-26

Washington. Sept 2.-Ellis H. Roberts. Treas
of the United States. delivered the following
address before the joint convention of the Mary
land and District Of Columbia Bankers Associa-
ton which is being held board q steamboat
the Potomac River tonight:
Current financial discussion deals. in much the
larger part with national bank notes They constl-
tute less than one-sxth Of our stock Of money SIS
So 95 out Of $Z7US S93 663. and legislation
change that ralo very naateriasy. ma G az Gold on the
onehaf OF our stock. and it grew nearly Sl2c0oOco
Let ne Be 9on,ent m to stand on the rock bottom Of
gold OF &SssSo-lis money in circulation. gold. IN
Just less than 500 200 or, again. look at the
largest sum ev recor I Ss Our 5Gne@E rea 5e
ury holds three and nine-tenths times the amount
is 1856 S6 O9 IL IS than three and eight-tenths
times that Of the Imperial German Bank. which is
Austro-E Il ungarian Bank which is 22l,3J4cO0; it
The banks Of England and Of france Which h latter 3e
Russia. Germany. Belgium and The Netherlands
This IS not the whole case, These foreign treas
OF the respective nations; On The holdings Of the
vste. OF the British Empire. With US besides the
@ sD1g obr ~ e own ~ al. 81 and ri t5s i 1;oI m % ihan
any central institution holds. save those Of France
More vital ys, IS the growth Of the official treas
Bank Of France has gained t27 600 and Austria
Hungary SO l20to1 In the same period the In
PffTE 6f Ehss6 ] 6aa5 aa hsi Rss.s 2ss .s G66 5od
fortune has added the gold in the Treasury
vaults OF the United States from the close OF
August. 1895. the first day Of the month.
Se3 So 20 o. very nearly Ss9cooco year on the
average
Let Us get a little nesrer bank vaults and 70
the pockets % the people. The gold coin and
tifcates, in circulation September J. 1895.
$3.50 l66. 10 which 81 per OF the total BY
the first u the present month this factor had be
come Sl.4l453l.1-S or y per cent % the whole.
Here IN the gold currency OF the land is gain OF
SfS 36i so within five years. This is the strength
well as the cornerstone Of our financial system.
Certain ti-1id souls look upon real money Is
Samson whose locks at time may be shOrn
BY a Phfistne Delil7h. and its strength be clipped
away. Now this Delilah takes the form OF rush
TIE Treasury Of the United States notes. Again
she appears IL the gsrb % a Secretary Of the
Treasury. using silver for Official payments. And
legislation II mathematics is good fer anything.
u proves that greeubacks cannot be procured in
volume enough 20 Re more than spray beating
Gibraltar. Every Secretary Will md that silver =
within his control for actual than gold Is.
he cannot make silver current for large payments.
As for Congress. its power Is vast; but with an
inflow of So o. C00 wear OF gold into the Treas
force.
But and there is a but. credit Is based
gold and is possible 20 initiate and exploit II 70
a dangerous degree Recent chronicles are not
without illustrations This process OF attenuation
ard its rarfdtv and extent present the real prob
lem of the situation Wisdom cries aloud. and Will
he heard sooner later. and better soon than
.ate rrat T. not safe lift credit 50 mountain
high that fying machines VIII he needed 70 opeT-
a-c - its thin atmosphere. n the meanwhile. and
believe for a long time, the nation : prosperity
rests on q and steacfast foundation