Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-09-13
LETTING OUT THE MONEY.
The Treasury Department Making Ell.
forts to Relieve the Stringency.

OFFICIALS VINO THINK THERE n no CAUSE ron
ALARn-rHE KFFIcr OF THE M'KrNLEY BrrL-
ACTING SECRETARY BArcHELLKR's SUMMARY OF
THE srTuATlox-Ml WINDOW IN NEW YORK.
The Secretary Of the Treasury IL in New
York today talking money to the magnates of
Wall street Notwithstanding the reports Of
money striagency at the Treasury Department
this morning there was no alarm felt
Said Judge Batcheler, acting secretary. TO q
SrAR reporter. I'VE would like TO have the
public understand that this is by no means
scare or panic. A tightness prevails,
to be sure, but il will soon
number OF causes, the main one being the fact
that the business Of the country has increased
fully twenty-five per cent and COED
deal OF the capital thus demanded 10 tied up.
The banks, q would seem, want TO heighten
the panicky feeling, but 1 am con-
WINGED that the whole movement 1
done with the ultimate object of making money
% much easier that the street will have
all 1t wants for speculative purposes. But
we are quite masters of the situation here and
have no fear for the outcome of it. You see
there 10 y belief that il will take
S50,000.o00 to release the goods that are
at present under bond for the payment of Gus
toms duties on account OF the action of the
Mckinley bil but this is not true. Ii
Will not take more than $1,000, 900
Indeed, i think that the whole value OF the
goods now in bond that will have to be re-
moved and the duties paid do not aggregate in
value more than $40, 10000
WHAT GEN. NErr1EroS SAYS
Gen. Nettleton, assistant secretary. said that
the department stands ready to put out
49,, 100000 over and above its present
obligations in order to relieve the
market. When asked how much the street
estimated would be necessary TO straighten
things out, he replied: I'VE had promised the
payment Of about S60, ZOO, 000 and Of tins
sum we have now paid out $50, 900, O00 I can
not say in what wav the remainder will 60 out
The Secretary will probably announce his
course in New York today.
Ii has been determined to prepay a years
bonds), which will amount to about 81 200 Oo0
but this will be but one of the details of the
general scheme, . minor measure
THE PURCHASES OF SILVER.
1t has been part Of the departments policy
of relief to buy silver in large quantities at
the market rates as one of the
means Of putting more money into
circulation. but the price of silver has steadily
decreased from Sl.99 to ellis and even below
Mr.. Leech, the director OF the mint. said
this morning that he did not care, in view of
the present speculative tendency of the market
to express any opinion as TO the causes of this
declined He said. however, that he will buy
as heavily as the offerings will war
rant next Monday, the regular day for
purchases. He has, during the past month.
exceeded the legal limit Of silver bought, hav-
ing purchased $1,000 600 ounces, when the re-
cent act only specified 4. SOC, 900.
This was done at the instance of the Secre-
tary in order to swell the total output of
money. and resulted in the freeing Of about
s6,O00,OOO.
MAKING IT EASY.
As an additional aid to the money wanters
the Treasury Department today decided to
waive the rule hitherto enforced, requiring
that all bonds be presented when the payment
Of interest is desired. The owners of bonds
may present part of their holdings.