Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1890-09-15
A rR0rOsITIoN


that Congress wsuld have to author.
a rB0P0sITIoS
which met the unanimous approval
Of those present, including the
Secretary, vas 10 suspend the pay
ment ofcustoms duties from Novem-
Der 1st 10 February let.
, Secretary Windsm said The pres
ent difficulty In the money market,
he believed 70 be one that extended
all over the country, and was not
confined 10 Wal! Street, or eren 10
New YORK. He said II would re
quire a great deal Of careful con
sideraiiOn 10 settle upon the best
method Of relieving the stringency.
ana for that reason nothing would
be done hastily.
In regard 10 the stringency, which
Is bIsed on the belief that a large
amount OF money, Accounting To
many, more than $50, 600, 600, will
he required Immediately to pay
duties 10 take goods out Of bond
in case the Mckinley bill goes into
effect October lst.
/ AHcA-AAuA AAtA~AAEE INlNtAl- c4ANE.
1t might be suggested, in the first
place, that this amount is over
stated, for the Custom House author
titles have estimated that the
amount OF duty payable on goods
now In bond does not amount 10
more than SlO,OJ1,011.
In the second place, IL these goods
are Withdrawn in large amounts
and thrown upon the market Il viii
have n tendency to check imports,
80
THE AMOUNT Oh MONEY
received will he diminished. At
any rate, II should not increase the
stringency. AwOuld be wise, how
ever, in my opinion, for Congress TO
extend the time within which goods
now in bonds could lie Withdrawn.
This would tend 20 relieve the mar
ket, but in any ASPECT Of the case /
DO not think there is any serious
ground for alarm.
The surplus shown September
10Th sos, sos, go is made up = f1l-
lows: Fractional silver coins, about
50, coz, O11 unavailable for the pur-
chase Of hondsl; I'm Natloual Drpo
sitorigs, H,Ocl, J91 taud not Ia cifcu-
lation); deposits So, 0Je, 900. These
two items, amounting toSiT,O)0, 0l1,
deducted from So, u00.OJJ leaves
about 50 i0l0,0Jl, which represents
the entire available cash il the
Treasury, and that sum Is part al
the s55.i-,J, 0ll d National Bank re-
= -
the recent act OF Congress.
'rhehe is, therefore, not dollar
In the surplus which came there nv
the payment Of cIstom dues OF in
ternal taxes. There Is not dollar
With represents any boarding OF
the currency during ;hs last scar.
The 8 ,W'l, 0l1 above referred a. has I
been in the treasury for several |
years, and thess funds NJ one time |
during the last administration
amounted TO about SI0,0l0,0JO.
TELEGRAPH CONSULTATION
WASHINGTON, Sept. I4.-Tbere |
was a long consultation today by |
wire hsiween the President nj |
Cresson and Acting Secretary |
Bltchelier and Assistant SecreLiry |
Netileton nc tile Treasury Depart |
nicnt concerning the sirinSency OF |
the money market, during which |
the whole situltion was thoroughly |
gone over.
The President, Il j. understood, |
stated that II i his iesire to avert a |
plnic in the money Market, and |
that none shall be permitted to &C.
ctIE II the Treasury Department can
help it. This was telegraphed TO
Secretary Win Tom az New York,
who sent the following message to
the President:
"HaNe hal a conference with the
leading financleFs. There appears
10 be considerable stringency, but
no reason To appFehend a serious
panic. am fully advised and will
take such action a. think the stu
alton requirss.r
The President has also been in
consultation by wire with Major
Mckinley, chairman OF the COM
mittce on ways and means and
Others, in regard tn the pr1prieiy OF
extending the date fixed by the
Senate for the new tariff bill 10 20
into effect. The matter, IL l. under
stood, will be the subject OF further
conference.
tue DIRECTOR or THE MINT
announced today his willingness to
bay largely OF silver Monday II the
offers were favorable. I'm order TO
assist in relieving the striugency In
money.
The Treasury Department caused
a-careful iuquir, 10 be made today
a. % tie probabilities OF Congress
fixing a later date than November
lst in the pending tariff bill for the
OF bonded merchandise
under the existing schedules, and
Assistant Secretary Nettlston has
given the Associated Press the fol-
lowing statement as 10 what cOnclu-
sions were reached:
frhe information obtained renders
IL Is rs sure as any legislative event
can be fDreseen tnat the date OF the
OF goods will be fixed at
February I, 1891. Indeed. owing t.
the business community, a later
date may be fixed, AMI the general
feeling OF apprehension Is ground
less. There appears 10 be but little
10 the change. The Sen
ate committee have held no forma;
rs the matter, but n we
seen Aldrich, Allison and Hiscock
OF the Senate committee, and
Chairman Mckinley Of the House,
and [ am able to state definitely,
from my interviews with them, that
they
FAVOR An EXTENSION
70 February Isl. The President to
day expressed his concurrence 10
the suggested CHANGE
In an interview with a Tribune
reporter this evening Secretary
Window said: al have frequently
heard it saId, sWhy don't the Treas
usy do something?' and I beg 10
tell you In answer that from the
foundation Of the government until
recently no such radical measures
have ever been adopted as during
the last thirty days, and let me
state further, that, rs a result, S5s,-
10000 have been paid out for the
purchase Of bonds and the payment
OF interest within twenty-three days.
and during that time sie,010,O 900
have been paid out IN peusions, max
ing SIS, OO6,000 paid out for these
three items alone within twenty
three days The receipts in the