Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-11-13
APPEALs TO TIE TREASURY.

Secretary Window Not Likely to Take
Amy Extraordinary Measures for Relief.
WASHINGTON, Nov. 49, The furry in
the stock market, partly caused as re-
ported by the advance Of the Bank Of
England rate Of discount from to 6 per
cent, has caused the usual inquiry from
Wall street concerning relief from
| Washington. No comfortable assurance
could be given, for the simple reason
| that there is nothing the treasury de-
partinent can do to help the situation.
The secretary does not believe that
affairs are 50 serious as to demand gov.
ernment aid, and If they were twice as
bad he does not know what more he
could do than he has done already.
Since July last nearly $i00,000,00
have been put out by the purchase Of
bonds and the payment and anticipation
of interest, which leaves the department
practically exhausted of its resources for
such purposes. There has Just been q
heavy draft for pensions amounting to
about &25, ,000, ,00A and the available cash
is reduced to about $l0,000,000. This
does not include the subsidiary coin on
hand which, while it is good money, has
not yet been restored in treasury book
keeping to what is known as the availa~
BE assets. There are some twenty-odd
millions of this.
The government receipts, however,
are over SIT .0a0,000 day, so that the
treasury is not in danger Of being de-
pleted by any means, and there is no
probability Of falling off in receipts
until Feb. ! until which time heavy
customs dues will continue to come in
from goods IN boud which We're largely
bought to get the advantage Of the old
tariff rates. The treasury, therefore,
while in a perfectly healthy condition,
cannot be considered as a factor in the
present financial situation, except in 50
far rs IL should inspire confidence by its
ability 10 meet all obligations. Last
SATURDAYS bank statement showed that
this clearing house banks had lost three
on four million dollars during the week
IN other ways than through the ordinary
channels. and this made a rush TO real
{ze money by the sale of stocks.
The frightened spectators have them-
selves to blame for the so-called panic as
much as the Bank Of England. Power
full combinations are naturally taking
advantage OF the disturbance to get con-
troll of certain properties as cheaply as
possible. and II will be found that every
thing will be right in good time when
the purpose for which millions Of money
have no doubt been withdrawn from
circulation, has been accomplished. 1t
is believed at the treasury department
that whatever trouble there is will be
confined to the class Of stock gamblers
whose good OF Ill fortune does not affect
the country at large, and who must ac-
cept such terms as are bound 10 occur in
the business they are engaged IN.
Secretary Window Talks.
Secretary Window said Tuesday aster-
noon that the latest information from
Wall street was that the situation is inn
proving. He declined TO say whether
! the treasury department wonld or would
not do ANYTHING for the relief Of the
money market, but admitted that he
was giving the matter serious con-
sideratien. The department, he added.
stands ready to redeem ~ per ces.t
bonds TO the extent Of its resources. 1at
Is not rsasiy to make any oyertures- =;
the holders - per cent bonds. The
secretary said further that the reoent
heavy disbursements had reduced the
available surplus to $4,000, 600, and it
was a question in his mind whether this
small working balance could he still
/ further reduced with safety to the bui-
ssass Of the department.
II IS s.ae that the National banks
( hold so .lJ00. Q0e Of pnblie funds, but he
/ did moi care 80 disturb those deposits ct
present. In axnianafion Of the small
surplus, the secretary said that during