New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-15

money by the Treasury faster than it can h
withdrawn that the new Iarlff Dill should
he amended in conference committee by enactn0
that goods bonded at the time Of its becoming
operative on which by the new law there is al
increase Of duties may remain in bond subject Il
fe 'h o of Co. "aSs It's @
thority to the absurd and untruthful statemem
that the Treasury is absorbing more money thai
can be withdrawn.
There is no excuse for such betrayal OF ign.-
rance Oh the part Of any ofliceboy in Wall Stree,
and it has been the prOmulgatIon OF TINS faie
statement that has done more than anything exc
to create the condition Of monetary Affairs
Wall Street which now exists. The Treasury MT
only issues monthly statements. but also daily
statements, of its cash in vaults. lhey are da!y
printed in The Tribune, one day compared with
the preceding day, and the monthly statement
compared with the preceding month They re
cleaner and clearer TO the ordinary comprehension
than are the baance-shces of any bank or pr vac
banker. 1t is only necessary fully 10 rompiehe1t
them to understand that when the GOvernmentie
making large purchases of bonds there is carrld
in the Washington statement for several days a.
cash the amount which the various Sub-1rcaSurcs
had previously paid for the bonds for which he
Sub-Trasuries stand charged until tho date thy
have been received at Washington examined aud
cancelled. For instance, the actual cash in To
Treasury and dib-Trea>nres at the closr Of bui-
ness yesterday was probably about 50. 900 900 les
than the sum reported by yesterdays stateme.t.
The subloincd statement shows the amountof
cash held in the Treasury as per monthly stae.
Of National bank notes, $22s.ol7.345 The con-
age Of standard dollars under the act Of 1873 sire
that date has been about $2s.000,0oo, The NV
notes issued for silver purchased under the ri
Of July l3. 1890. have been $5.435..Oo Aldig
these two items to the cash in the Treasury Sp-
tember 30, 1880, gives total of S261, 49, o45as
the amount which the Treasury now should hid
if the last items. either by themselves or by oter
currency from the Treasury. had not gone ito
general circulation. The statement is rs follow:
TREASURY CASH. SEPT. ~ 1850
ls ssi o Sulsl ns s san
sllS"r bull So on and saoa,rd dollar.
Les Outstanding c riff ates... :'61l91lo
Net OBSERVATION-DISCLOSURES 17.s5oe+
Less outs and n certncaes....... l3-7j 900
Net L. s. otes.....-.~ eI.17oss
TSal ca.s o n The r a%a sGD' 80 is's is a'
Adj TO- new not. issued under a.; July is
1890 "f"''o
To.,, SOL 80 o5
In the week ended September the lrcasI2
dsbursed more than il received S3.i2?.!j:. ,
which is Ia le added about 81 ooo.Ooo leT isst
Of legll-enicr noics Tie w"'k ended Acst"r'!r
shows IA loss to lis net casn OF }lil.449. AMI
that sum is to H. aided another weeks i>sn
Of new lcgal-'"nder notes 10 tho amount q
81 ,O0o,000. Thus in the two weeks not count
inc for delayed housekeeping IN the marking OF
Of ca,h against bond purchases by the >In
TREASURES, We hav" over S".1"","?" as IN" sun
added TO tie general clrcHlitlon Of legal money
Now, starting from September 50. l>>y IL
reported above, tie increased circulation Of lrga
money for the eleven and a half months Is al
fellows:
Ca.h o. hard September 80 1850. with tn.
aatit!o,, y ro,",s. nat a., .: ISIS aud SOC, .,,e.
CAN by mint >.rnrr -. l-90...... :i3i, o.
Incrca,e In 9 neral cr.u.,on............ ',oCj53
To II. .ii'!r,! to this sam twelve monthS goh
product of TIE county, less net rAp,r'S %
SlO.VUV.puU and III" aiu"lalt Consumed Ny IN
arts: probably lc1yln. over Sj,o0o,ooO whl"L h.
gone into money. Az ing this gives S""'"'''"I
rs III" rNianson OF l"-al money III -'irr!1 CIR
cnlati"n since September 80, lse?. Against tl"s
enurinO's san oil expansion OF csal MONEY u.ep
la, lr,.n a contraction of S2:.""".""" III NtiI"h1
bank note circulation which ar" not legal t'h''tt
and perform only M same d'ti's III n'I'it i'%.S
rat merchants and b;.:lkers cnechs doom I'TSe
lies. are farts which lave hcen AMI are oiss
to the examination OF eIrrl Ole. and 20 IL }
time to talk plain En-ish. II Is i4uie
say that no writer, banker or even fet1. me-
Chant las an eAcase for being ignorant upon I'd
The bu chcar about the immediate effect upo
money matters OF tl.- ncw t.riii bill. even A.
passed the senate, is o"dFcc!E less ahSuid 'iht
the malicious and iguorant statements r-Aidiy
Treasury ASSUMPTIONS which have been ID fuE
rcfutcd by rhe official figures. But yet the
have partially srv"i theT purposc. and
shown above have received the Endorsement
reputable bankers and bank presidents Arrorc
ing 10 the official est mates OF Custom liols
b n,!cd III Ncw-Yorl on September W., : $3.50.
Isl. This ~ probably - per c''N 4i - an ~
oi duties due on goods in al tie h"i..'.i "aIe
houses of the United States. TIE hl a.
passed t.e Scratc n\es tr line trr withdraw
Under the rates Of Tie old tarIli ot goods hoi'ir'
before August as Noyrm!rr !. ~ n"r tani
have not lsrn importin- goods s'..i"'c Z
the Autumn trad" with p.rp"Sr 90 'tIN!h
t!rm in BONDED wtn'hod>r> for iwrly" months n
matter what chan-cs nli-ht havc been "\iT'ic
10 ie III ode an the rar!h. II Is probable TIA Il.
collection ~ IurIr> between now ami ti.r tr>t u
November viii u"' he changed +" an anlr 1T - "a
10 Slu"u."u" wrtirr or not N" ucv hil t"'":"r
Il law. 10 ne creators and circg.at"r> IL -
blgbrars II SONS 10 br a new r."a th't -""i
once placed in bond should eyer ~ Wit II ~. IN
that iury never would hr except for the r\&,tio
Of hIgurr rate, Of dates after rer' ,iu dave. I've
las, week tie withdrawal from warehouse "i iry
.oos : ,j@.jl~. While IN" entries Of n"W II
porations for warch"lrr WIRE "niy S3i".:5t
Certainty neither of these movements wd> :Hat
c,.re,l hv n hI.l - ;lAr effect oa November
Further II is beyond question: that The na>f"niw
i"rwaTA Of imp'r'> 90 ar.""n' 81 the i.'w .Hrt
hill will hr reflected IN smaller importation
from tnlS the H. ." ED of the Scas' n. II
proper en"IGh. II congress - a:nHs. tAa' -
date for the wirhdraw4l %: goods under '',' -
tarif should be- put n a later period Bat If so
ain'f dlFir> are vt nI"'" II ! 'ii' I" me
stand that the ~ Is II ,.'>>'d tie >".a'" i ID
inrrare +" tie motley market. "\"'p'!nE - Tar
sentiment mIy "oN',nHr I" l-r"ir I'>''.Ni" ttrt.
II !, u IN, hoped lat ha,,rr> ana bank pr tli'nI
viii 'c ~ influential b. their actions IN dr,'r"NlV
, r,i.. .cnli,nc,., q, hy tnrir Endorsement iu'
have been >Irrr>>t ii IN creating II.
The hank st"trt"l'S 1T ne last i'.r'" "'r'
have r,ctrly Indicated Thai 'lcrr WAS a. i"cNo
Of MONEY ana tle statement al lr>irr ~ m
MIS- 81 ahsolu'c ryi!rurr tn't srch il ~" tr.
Ii would now Ne Improbable I" - mt an liNr>,.
.at"n II lis purposes. IL IL >i.il:' rn' T. gc1.!e
lie fact ard the rrrr>sitr Of lmmr Hat" r,t
frr,n some source. Tact source Should he =.
hau,>> If the city Of Nrw-\"rn. II t!.rf ~.
uct,u.. with the same lh r.Llry in rear. =" Ian
and :rd at the ,lrtdr'irr law rr.atlus
..r'rt.,t> "f reserves Tor National BANKS as the
al during that rloriouS speculative Drr"d Of 1875
l~>?. the mt would lr eat IN the iwInk'ing
an r.c wlti.oit any appeals I" the ntrd stats
Treasury for help. some Of the National ban'
nl,ch NOW hold the extinct rul" of - per ccr
reserves in such high reverence, i'll 1879 Ia 1888
.r...t!,iN i.uorcl il in all their weekly state
urus 10 the puhr and in all thrr >ra'rmrnts
I -, nutruli rr Of the I GrrrltN. Here i hlf or
.u,nu u,,>ih,r 10 the ordinary nj al t,r this
cen, Development Of highly r"ns'rNa'.N W m"rnt
m or speculative conditions now are tie rrN'rs
Mn n