Rensselaer Republican, Volume 25, Number 35, Rensselaer, Jasper County, 27 April 1893 — OUR FINANCIAL POLICY. [ARTICLE]

OUR FINANCIAL POLICY.

Secretary Carlisle Makes a StateV J„ ment. TheCredlt of the Notion Mart Be Meto. talned—Parity of Gold and BUver WBl Be FmAncdr Secretary Carlisle, Thursday, made a statement regarding the financial situation, from which we make the following extracts: In the exercise of the power conferred by the act of July 14,1890, the Secretary has been paying gold for coin treasury notes issued for the purchase of silver bullion. Bv this process the Government has been paying gold for silver bullion and storing the same in its vaults, where it is Tiseless-for circulation or redemption. No order has been issued to stop the payment of gold upon these no,tes. The total stock of gold coin and gold bullion now in this country, including what is held by the treasury, as well as what is held by the banks and individuals, amounts to about 8746,006,006. When I came into the Treasury Department, on the 7th day of March, the amount of free gold on hand had been reduced to $987,000, hut by arrangements with Western banks it was increased until, on the Ist of April, it amounted to nearly $8,000,000. Then heavy shipments began to be made,-and two days ago we had only about $40,000, but now it amounts to f8}5,000, after deducting what has been withdrawn from the sub-treasury for shipment. There is gold enough in the country to meet the requirements of the situation, and if all who are really interested in maintaining a sound and stable currency would assist the Secretary of tho Treasury to the extent of their abilities, the existing difficulties would soon be removed.