People's Pilot, Volume 4, Number 27, Rensselaer, Jasper County, 21 December 1894 — GOLD IN THE TREASURY. [ARTICLE]

GOLD IN THE TREASURY.

Its Decrease Since 1889 Amounted to SI 05,155,000. Washington, Dec. 19.—The treasury gold reserve to-day stands $8,500,000 below the reserve limit of $100,000,000. The rapidity with which the gold has been withdrawn from the treasury since the second issue of $50,000 000 on November 24 has given the officials at the New York subtreasury so much work in handling and counting the money that extra force has had to be employed and worked overtime. Since November 34 last, the day on which bids for the new bonds were opened, the treasury has lost $25(000,000 in gold by withdrawals, two-thirds of which have probably been exported. Within that time perhaps $3,000,000 in gold’ have been received by mintage, but losses which almost counterbalance this accretion have been sustained by reason of gold bars being withdrawn for use in the arts. The decline in treasury gold holdings, which began prior to 1888, has continued ever since, as shown by the following official treasury figures: Net gold. January, 18895194,655,000 January, 1890 177.385,000 January. 1891 141 728.000 January, J 892 119.574.000 January, 1893 108,181.000 January, 1894 65.850,000 in March, 1893, the net gold stood at $106,892,000. On January 31, 1894, it had declined to $65,650,000. The first bond issue in February, ] 894, increased it to $107,390,000. In eight months it declined to $57,996,000, which point it reached November 24, on which day the second bond issue was made. This second issue of $50,000,000 brought the reserve up to $112,000,000, since which time it has been falling downward until to-day it stands only $33,500,000 above the point it was on November 24, the date of the second bond issue. As above shown, the amount of gold holdings in the treasury January I, 1889, was $194,655,000. The amount today is $91,500,000 —a total decrease of $103,155,000.