The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-14
No DANGER OF A PANIC.
rzE GOVERNMENT BOUND TO
EASE THE MONEY MARKET.

o,ce With the Bank Presidents OF
Nev York-He Finds Nothing Alarm
;,gt N the Situation-President Har-
rison Working on Mckinley.
Nrw YORK, Sept. 13.-Seoretary Win
so,,, arrived at the sub-treasury at II 80
,o,o,ock to-day, and notices were at once
-. ont TO a number of bankers to attend
conference and exchange views with him.
Among the first to arrive were James B.
coigate President Knox of the
Rspk of the Republic, President
C of the American Exchange
Rsnk President Vermilye OF the United
National Bank, President Perkins or the
Imnorters and Traders Bank, President
Sin,mons of the Fourth National, President
Snnnon of the Chase National, President
parLer and the vice president of the First
National Bank, Isaac Seligman and others
fully as prominent.
THE MONEY IN THE TREASURY.
Secretary of the Treasury Window made
the following statement tonight regarding
the amount of money tied up in the treasury
"Comnarisons have recently been made OF
the snrplus as it is now reported In the
treasury with the amount reported year
ago from which the erroneous conclusion
is drawn that the present administration
has pursued policy tending toward con-
traction. In this connection the following
authoritative statement will show the fai-
Iacy of this belief The amount of net cash,
fractional silver and national bank redemp-
ton fund in the treasury Sept. l, 1889,
was about S141, 100000. The amount
Of the same items Sept. 10, 1890, was $780,
22O. which demonstrates the fact that
over $41, ,000, 600 more money has been paid
out since Sept. 1, 1889, than has been re-
ceived into the treasury during that time.
In other words. every dollar received by
the treasury since Sept. l, 1889, has been
paid out and over Sal 900 900 besides.
HOW THE SURPLUS IS MADE UP.
"The apparent surplus shown Sept. 10,
1890, of $99, 500, ,220 is made up as follows:
Fractional silver coins, about $22, ,000 600:
unavailable for the purchase of bonds in ma
tional repositories $25, 100000, and now in
circulation These two items. amounting
to s47.OOO,0O0, deducted from $99, 900, 900
leaves about $50 900, ,000, which
represents the entire cash available
in the treasury, and that sum is part of the
$50 100000 of national bank redemption
funds made available by the recent act of
congress. There is, therefore, not dollar
in the treasury surplus which came there
by the payment of custom dues or internal
taxes. Hence there is not a dollar which
represents any boarding of currency during
the last year.
IN THE TREASURY SEVERAL YEARS.
''The $50 100000 above referred to has
been in the treasury for several years, and
this fund at one time during the last adj
minisvration amounted TO about $110,-
100000. The above statement is not a
theoretical exposition Of tine condition OF
the treasury, as it is an actual
fact that there was IN circulation
than there was on Sept. l, 1889" Secretary
Window said that he would probably take
steps at once to purchase some government
as but how many .he would redeem he
declined to state. He intends to remain in
New York for several DAYS and take all the
necessary steps to relieve the market.
HARRISON ON TIE ALERT
WASHINGTON, Sept. 13.-There was c
H long consultation to-day by wire between
the president, at CTesson, and Acting Secre
tary Batcheller and Assistant Secretary
Nettleton, at the treasury department, con
cerning the stringency of the money mar
ket. during which the whole situation wa
thoroughly gone over. The president. Ii il
understood, stated that it is his desire K
8 avert panic in the money market, anc
q that none shall be permitted to occur if the
treasury department can preventit.
WINDOW NOT ALARMED.
The views of the President were tale-
graphed to Secretary Window at New York
# who at noon sent the following message Z,
I'll the President: II have had a conference
8 with leading tinanciers. There seems to h,
M considerable stringency, but l apprehend M
serious consequence. / am fully edviset
and will take such action as | think th
situation requires"
THE TARIFF BILLS PART
The President has also been in consul.,
ton ny wire with Mr.. Mckinley, chairma,
OF the committee on wavs and means an
o1ners IN regard to the propriety of extend
ing tne date fixed by the Senate for tn
new tariff bill to go into effect, The matter
y understood, is to be the subject O
further conference, y
me director Of the mint announced to
91ay niS Willingness to buy largely of s;Ive,
monday II the offers are favorable. in orde,
money. s0noJ
WITHDRAWAL OF GOODS IN BOND.
1ne treasury department caused carefu
s9uHy TO be made today as to III,
pfooaollity of congress fixing a later dat,
~ ,1an nov Nov 10 the pending tariff bin fo,
tae Witndrawal of bonded merchandise IN
g. ue exstlng schedules, and Assistan n,
c;a.'9y Nettleton has given TO the Asso
s0Veu t fress the following Statement
= 70 what conclusion was reached. soTh,
.Ao' lnatlon obtained renders it as sure n,
49, y iaGnre legislation ever can he ure.
i Srin ~ - tnat the date for withdrawing good
~ ~ " nxed at Feb. l, 1891. Indeed owinc
H. l0 b,,.i wen nigh universal request from
rod gusl1ess a.I IS community that later date be
o0 o0O anu the general feeling of apprehen-
MI sroundleSs or otherwise. connectef
IttIa an a earlier date, there appears TO be but
nrrn;t NM ppoSitlon to the change. The Senate
~ wee " nave held no formal conference
tore 'e matter, but l have seen Sen
III Saiorlch, Allison and Hisoocl
IcKjn, senate committee and Chairman
tata icy or the House, and am able tc
= bsTu stteunltely from my interviews wifi
4 ~ ,n !. mat they favor the proposed exten
resssd 'ep tt l. The President to-day ex
barga nS concurrence In the suggested
49,, MKINLBY's VIEWS.
ktS OUalfrnan ar Mckinley, in nv interview
rru ,'r hin, used the following , amnbat;'
bn9res. Nothing should be done by
bn bv ~ !" gignten the money market if i
khetGbasa avoided. In justice to all interests
be VIII toe date fixed by the Senate fol
FoplG G'SSnuESwa4 SaSwa4 of merchandise in bond
N ide.ar.aVe ave mat effect or not, If there is {
kbpnit4 Gao belief in the business com
lib ~, VnsV 1t will do so. it is about
bet Tvs nv Gs though it was G
il do 1aa House of Representatives
&nd If =, ,nothing rashly or inconsiderately
Sde appreles1dai ,,1oa- ts