Morning journal and courier., 1890-09-15

Secretary VindOm,s Plan to Relieve the Present Stringcncy-Thc Tight Money Attributable to the Remark- able Activity i'm Business-No Dam ger ofSerlOus Financial Troubles. NEW YORK, Sept 14-Secretary Win dom left this evening for Williamstown, Mass, to join his family. He received | but few callers at the hotel during the day | and in the afternoon he announced to the | representatives of the press the plan he | had devised for the relief of the stringency | in the money market. As q result of his conference with the bank presidents and 1 financiers at the sub-treasury on Saturday, Secretary Windom said that he had de- cided to receive proposals for the sale of fours to the amount of SIG, ,000, ,000 the pro posals to be received at the treasury de partment i'll Washington at noon Wednes- day next These bonds the secretary will purchase if reasonable price is asked for them. At the same time Secretary Windom will offer to pay for three-fourths of year the interest on currency sixes. The announcement of these offers will come from Washington over the secretary's 8 signature on Wednesday, when it will be officially formulated. Secretary Windom said it was not usual for statements as above to be made before they emn ated officially from Washington, but owing to the anxiety of many of the business community ts know what was going to be done by the treasury in the premises, he thought it best to announce beforehand, although it was Sunday, his in tentions.
 In reply to question as to the cause of the present stringency in the money mar ket the secretary said:
 In my judgment it is attributable mainly to the remarkable activity in business of all kinds in connection with the great advance in values during the m last months The a agriculture Swheat, corn % and oats), based upon S0d to 1l Se adaed tbe price of all over products of industry the tota increase 6 for m this year will doubtless largely ex essarily requires a much larger amount of money to handle the products, and hence the un Anethe9 causs may the be foan in
 large increase % of the n snp es the treasury sT can do in the matter The propo sitions of relief now pending exhaust tne power ta, will bring full and satisfactory relief if the hold CTS of the bonds are disposed to cooperate witt the treasury. do not think there is great dan will not be the fault of the treasury. This one y of per cents is exceptional and made to mee as % the policy of the Administration, fos with thi sale-if it shall be madeline treasury would g of the market for the rof the shaa surplus to the purchase of the Az per cents.
 A CIRCULAR.
 WASHINGTON, D. C., Sept. 14.-The fol '- lowing circular has been issued by tn treasury department:
 v. TREASURY DEPARTMENT,
 WAsHINGToN, D. C.. Sept: i3 lS9O
 In pursuance of the authority contained m SC D. tion two of the act of March B. 1sSl pubic notit U is hereby given that-with @ view to the pureha. of $16,0O0O GOO of the bonds of the per cent. log of 1907-proposals for the sale of such ponds the government will be received at the treasul noon Wednesday, September 17, 1880.
 s. The right to reject any or all bids is hereby
 WILLIAM WINDoM, Treasurer.
 The secretary of the treasury has direc ed that arrangements be made for the pr payment of the interest due January al July 1, 1891, in the bonds common known as currency sixes. The treasur A9 and assistant treasurers of the Unit
 States will therefore be instructed to beg the prepayment as soon as the necessa 5. blanks and stamps are received by thel - which will be not later than Wednesda U. the 17th, for all offices east of Chlcae
 Persons desiring prepayment of interest T currency sizes may present them on a
 after that date to be stamped in the sal }. manner as in the case of fours and will
 required to sign the receipt prescribed
 Ae department Those residing at a d
 tans from the points of payment who
 tend to forward their bonds to be stamI
 will save time by awaiting the blank
 ceipt which the department intends to IT
 to each holder who is recorded on ary. books.