The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-09-14
Partly Due to Misunderstand-
ing of Tariff Bill.
WINDOW AND HARRISON ALERT
Administration Making Every Effort
to Increase Circulation.
Tariff Bill Will Go to Conference With
out Debate-Free Binding Twine and
Reciprocity Accepted, but Sugar
Schedule Causes Disagreement.

the president at Cresson and Acting Secre-
tary Baicheller and Assistant Secretary
Nettleton at the treasury department con-
cerning the s;ringency in the money mar
ket, during which the situation was thor
oughly gone over. The president, i, is un-
derstood, stated his desire to avert panic
in the money market, and that none shall
be permitted to occur If the treasury de-
partment can prevent it. The views OF the
president were telegraphed to Secretary
Window at New York, who sent the fol-
lowing message to the president:
/ have had a conference with aiding fnan-
ciers. There appears to be considerable strn-
sequences am fully advised aud will take
such action IS the situation requires.
The president has also been in consulta-
tion by wire with MAJOR McKinler, chair
man of the committee on ways and means,
and others, in regard to the propriety of
extending the date fixed by the Senate for
the new tariff bill to go into effect The
matter, it is understood. is to be the sub
ject of a further conference
The director of the mint announces his
willingness to buy largely of silver Monday
if the offers are favorable, in order TO assist
in relieving the stringency of money.
The treasury department today caused
careful inquiry to be made today as to the
probabilities of congress fixing later date
han November in the pending tariff bill
for withdrawal of bonded merchandise
under the existing schedules, and Assist
ant Secretary Nettleton gives the Asso-
c'ated Press the following statement as to
what conclusions were reached:
The information OBJ aimed renders it az sure
as any future legislative event can be forseen
that the date for withdrawal OF goods will be
fixed on February l, 1891 Indeed, owing 20 .
well-nigh universal request from the business
community later date may be fixed. There is
general feeling OF apprehension, groundless
or otherwise, connectsd with an earlier date,
and there appears to be but little opposition
to the change. The Senate committee have
had no formal conference as to the matter. but
have seen Aldrich, Allison and Hiscock, OF
the Sen sts committee. and Chairman Mckinley,
of the House. and am able to state definitely
from interviews with them that they favor the
proposed extension to February l. The presi-
dent today expressed his concurrence in the
suggested change.
New YORK, Sept. 13.-Secretary Window
arrived at the sub.treasury at noon today,
and notices were at once sent out to the
leading bankers OF the city to attend con-
ference and exchange views with him. The
conference was in session two hours. At
its close, Window stated that he had not
decided what action to take, but would an
nOunce plan eventually. He said the.
suggestion had been made to deposit gov
ernment funds in national banks, but it was
rejected. He is in favor of extending the
time for paying duties on goods now on
hand at the present tariff rate, until Feb
ruary l. and will lake every possible step to
relieve the present strngency. He believes
he has ample resources to effect his purpose.
The general idea is that he will decide to
purchas. large amount of government
bonds.
Referring to the conference of Secretary
Window and the financiers, an evening
paper says: The question of putting gov
ernment money on deposit in national
banks was brought up. Secretary Window
reiterated the position OF the government,
and emphaticaily declared that such pro-
ceeding was impossible. In regards to the
proposition of the government paying a
years interest on SOS 000,0 900 of currency
bonds, Secretary Window stated that con-
gress would have to authorize it. A prop
osition which met the unanimous approval
OF those present, including the secretary,
was to suspend payne mt of customs duties
from November l to February l. Secre-
tary Window said the present difficulty in
the money market he believed to be one
that extended all over the country and was
not confined to Wall street or even New
York. He said it would require great
deal of careful consideration TO settle upon
the best method OF relieving the stringency,
and Tor that reason nothing would be done
hastily.
In regard to the scare, which is based
upon the belief that a large amount of
money, according TO many more than $780,
600 900, will be required Immediately to pay
duties to take goods out of bond in csse the
Mckinley bill goes into effect October 1.
Assistant Treasurer Roberts said:
IL might be suggested in the first place that
this amount is overstated, for the customs an.
thorities have stated that the amount of dutv
payable on goods now in bond is not more than
sI0000.00o In the second place, If these goods
are Withdrawn in large amounts and thrown on
the market it will have q tendency to check i'm.
ports so that the amount of revenue received
viii be diminished; at any rate, 1t should not
increase the stringency. 1t would be wise
however, in my opinion, for congress to extend
the time within which goods now in bond
could be withdrawn. This would tent tn 70.
lieve the money market. but in any aspect of
the case DO not think there is any serious
ground for alarm
S. V. White went to Washington CITY
last night, and has been in conference with
the mem bers of the Senaie finance commit
tee and the House ways and means com.
mittee. He says there is no doubt what
ever that the the time for withdrawal of
goods from bond will be extended. The
treasury is doing everything possible for
the relief of the money market, and will
continue ali efforts which may be found
necessary.
Shipments of currency were heavier this
week than previous one this season.
Nearly all The currency shipped went West
and South. There has been a heavy out
ward shipment of gold, and $500 900 was
shipped to San Francisco.
Secretary Window made statement to-
night regarding The am unit of money tied
I'D in the treasury. He said:
Com, arisons have recently been made of the
surplus now Ia the treasury with the amount a
v a. a-o from which the erroneous Conclusion
IS drawn that the present admi astraIiou has
pursu. policy toward contraction. In his
connection the following stste,neat will show
the failacy OF this 5elie- The amount of net
cash, fractional silver and nauoual bank re-
demption fund in the treasury on September /,
1882 was abou, s14i, ,e000oo. The amount OF the
same items September 10, lsso. was $s9 SOP 90
which demonstrates the fact that over forty-one
millions OF money has been paid out since Sep
TENDER ]. lsss, more than was received into the
treasury during that time. In other worus,