The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-09-14
ONE OF ITS FIRST EFFECTS.
How the Mckinley Biii Effects the
Eastern Money Market


NEW YORK, Sept l3.-Referring TO the
conference between Secretary Window
and financiers, an evening paper says:
"Tho question OF putting government
money on deposit in national banks was
brought up. Secretary Window reiterated
the position OF the government, and EN-
phatically declared such proceeding was
impossible. In regard to the proposition
of the government paying interest on
Si5,OuO,OO currency bonds, Secretary Win
dom stated that congress would have to
authorize il. A proposition which met
the unanimous approval Of those present.
including the secretary, was to suspend
payment OF customs duties from Novem-
ber To February 1. Secretary Window
said the present difficulty In the money
market he believed to be one that ex-
tended all over the country, and was not
confined TO Wall street or even New
York. He said IL would require
great deal OF careful consideration 10
settle upon the best method Of relieving
the stringency and for that reason nothing
should be done hastily.
In regard 20 the scare, which Is based
upon the belief that large amount of
money-according to many more than
$4,000 ,0n-will be required Immediately
to pay duties 20 take goods out Of bond in
case the Mckinley bill goes into effect
October I, Assistant Treasurer Roberts
says: II might be suggested in the first
place that this amount is overstated, for
the customs authorities have estimated
that the amount of duty payable on goods
now in bond does not amount 10 more
than sl0,0D,000. In the second place. II
these goods are Withdrawn in large
amounts and thrown upon the market IL
will have tendency To check imports, SC
the amounts Of revenue received will be
diminished. At any rate, II should not
increase the siringency. II would be wise,
however, in my opinion, for congress n
extend the time within which goods nov
in bond could be withdrawn. This would
tend to relieve the market. But in any
aspect OF the case, do not think there l.
any serious ground for alarm.
Secretary Window said he would prob
ably take steps at once 10 purchase some
per cents, but how many he declined q
state. He intends to remain in New Yorl
several days and take all necessary step,
TO relieve the stringency in the none,
market.
s. V. White went to Washington las
night and has been in conference will
members of the senate finance an,
house ways and means committee. II,
says; "Thcre Is no doubt whatever th,
time for the withdrawal Of goods from
bond will be extended. The treasury |,
doing everything possible for the relic
of the money market and will continu'
To afford all relief which may be foun,
necessary Shipments Of currency hav,
been heavier this week than any previou
week this season. Nearly all currenc
shipped went west aud south. There ha
bcca a heavy outward movement OF gold
S50J,0O0 going TO San Francisco.
Secretary Window made a statemen
tonight regarding the amount Of none.
tied up in the treasury. He said: Com
PARSONS have recently been made Of tn
surplus now reported in the treasury will
the amount reported year ago, fron
which the erroneous conclusion in draw
that the present administration has pur
sued a policy Of contraction which til
secretary denied.