1250
Cleveland Morning Leader, 31 March 1864
(5 inches)
~ See original
p.4, col.5
~ View at ChronAm
1250 - L. Mar. 31:4/5 - The course of gold continues downward, having fal-
len in New York but later rallying. As a result, the market here is very
flat, closing quietly and spirit lessly. The market leay remain at this point
for several days, but it must inevitably fall.
The treasury department plan for supplying gold to importers is per-
fected and in operation. Each morning J. J. Cisco, assistant secretary -
of the treasury, will name a price (which shall be 1/4 per cent below the
current market value of gold) for which he will issue merchandise certi-
ficates.
An important feature in it is that importers will not be restricted,
in the purchase of the certificates, to their daily and weekly wants; but
if apprehensive to future rise in gold, they can provide themselves with
a sufficient sum for months ahead to pay their duties.
Another influence in the decline of gold is the dividend in gold of
$3,000,000 on the seven 20 per cents to be paid out of the treasury to-
In Orr OW. (5)
Index terms:
Cisco, J. J. (assistant secretary of the treasury); New York city