, 1890-09-14
THE MONEY MARKET.
Great Scarcity of Greenbacks
and Gold.
Window Confers With New
York Financiers.
Government Trying to Relieve
the Stringency.

New York, Sept. l3.-Referring to
the conference Of Secretary Window and
the fnanciers, an evening paper says:
The question of putting government
money on deposit in the national banks
was brought up. Secretary Window
reiterated the position of the government
and emphati1ally declared that such pro-
ceeding was impossible. In regard to the
proposition of the government paying a
years interest on $65. 0O0. 900 in bonds,
Secretary Window stated that congress
would have to authorize it. The propo
sition which met the unanimous approval
of those present, including the secretary,
was to suspend the payment of custom
duties from Nov. to Feb. l.. Secretary
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. de said it would require a great
deal of careful consideration TO settle upon
the best methods of relieving the striu
gency, and for that reason nothing would
be lone hastily.
In regard TO the scare, which is based
on the belief that a large amount of
money laccording TO many more than
$50, 000, O0O) will be required Immediately
to pay duties to take goods out of bond
in case the Mckinley goes into effect Oct.
Z, Assistant Treasurer Roberts says:
1T might be suggested in the first place
that this amount is overstated. for the
custom house authorities have estimated
that the amount of duty payable on goods
now in bond does not amount to more
than $40. 200, 900. 10 the second place,
if these goods are Withdrawn in large
mounts and thrown upon the market it
will have a tendency to check imports, so
that the amount OF revenue received will
be diminished At any rate it should not
increase the %stringeucS. Ii would be
wise, however, in my opinion, for con-
gress to extend the time within which
goods now in bond could be withdrawn.
This would tend to relieve the market,
but in any aspect Of the. case | do not
think there IS any ground for serious
alarm
S. V. White went to Washington las.
night and has been in conference with the
members of the senate finance and house
ways ADD means committees. He saws
there is no doubt Whatever that the time
for the withdrawal of goods from bond
will be extended. The treasury is doing
everything possible for the relief of tho
money market and will continue 10 afford
all the relief which may be found ueces-
sary. Shipments OF currency have been
heavier this week than any previous one
this season. Nearly all the currency
clipped went West and South. There
has been a heavy outward movement of
gold, $500, 600 going to Sac Francisco.
Secretary Window made a statement
tonight reRar inS the amount Of money
tied up in the treasury. He said: Com
parisons have recently been made of the
surplus now reported in the treasury
with the amoun reported a year
ago, from which the erroneous
conclusions have been drawn that
the present administration has pursued a
policy toward contraction. In this con.
nection the following statement will show
the fallacy Of this belief The amount of
net cash, fractional silver and national
bank redemption iund in the treasury on
the LIST OF September. 1889, was about
Sal 900, 900; amount of same items Sept.
10, 1889, was 1891 .509, 800. which dem
onstratos the fact that over S4l, 600, 900
more money have been paid out since
Sept. !. 1889, than were received into
the treasury during that time. 10 other
words, every dollar received BY the
treasury since Sept. l. 1889, has been
paid out and over SAL 900, 900 besides.