Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-09-19
JAY GOULD Is HOPEFUL
He Sees Only Prosperity for the Whole
Country,


Jay Gould in an interview in the New York
World takes hopeful view of the business out
look.
"How do you view the financial situation9"
asked the reporter.
IL do not consider that there has been any
actual financial stringency," said Mr.. Gould.
"At no time has it been difficult to obtain
money at and per cent on good col
lateral. The trouble has been that the bor-
rowers have tried to effect loans on nom
dividend paying securities. Whatever strin-
gency existed was confined to speculative quar-
tiers. There has been enough money.
The difficulty has been to provide
the means for borrowing it Not as
much money is needed now as formerly
to do corresponding amount of business.
Business is now transacted by means Of checks.
Formerly people had to carry bags Of gold and
silver or big packets Of currency to make pur-
chases. Now they present their checks and
settle balances instead OF paying over total
amounts"
There is more or less sentiment in favor Of
abolishing the subtreasuries and depositing
the government funds in banks in order to
keep them in circulation. Does this plan i'm
press You favorably?'
This question will be disposed of in the nat
ural course of events. do not regard with
much favor the plan to make the banks depos-
itories. During a republican administration
the money would be put in republican banks.
and during a democratic administration it
would be put in democratic banks. Security
would have to be furnished to the government
so that not only would the deposits change, but
also the security"
Does the new tariff tend to interfere with
tia prosperity Of the country"
II do not think So 1t is a radical change
and radical changes naturally unsettle things
FOR time. There are provisions in the tariff
which L, as an individual, do not approve. l am
protectionist. however believe in imposing
a tariff which shall protect our industries, but
still not be prohibitory."
IN FAVOR OF RECIPROCITY.
'Do you believe that the country should
gravitate toward lower tariff in generaI?"
'In q measure, do. I think that the inter
nal taxes should be reduced as fast and to as
great an extent as practicable"
procity?''
Il look upon il as logical proposition. It,
hrst OF ALL possesses the merit Of being based
on business principles. 1t is proposition such
as one business man would make to another
The government to be a staple one, should be
conducted on business principles as well as n
private enterprise. Why should the sugar Of
Cuba and other countries be admitted to the
United States free Of duty if we obtain no ad-
vantage for the concession? When I was in
Cuba my attention was directed to the attempts
OF Spain to supply the island with flour. The
market more naturally belongs 10 US if we open
our ports to Cuba's sugar."
lis the present condition of the country a
healthy oue?"
Il consider it healthy It looks to me az if a
long period OF prosperity were before u.s. The
wheat crop this year is short, but enough of an
advance in price on the old wheat on hand will
secured mn kha xko
farmers. 1t is true there will not be quite so
much business for the railroads to handle"
us 1t possible for general panic to occur in
this country"
NO FEAR OF A PANIC.
II see no way in which it could occur except
by an overthrow of the government. and that
do not expect. There NAV be local commissions,
but there can be no panics of the old STYLE. The
system OF transfers by telegraph and cable
make 1t possible to obtain money almost in
simultaneously when there is great need for it.
People in the money centcrs of Europe watch
our financial conditions we do theirs live
need money badly enough to offer high rates
OF interest they Immediately lend to us The
new system OF quoting money made the recent
demands appear more urgent than they really
were. 1t used to be the custom to say for in
stance, 'one-half of per cent and interest
Now the rate is quoted 1885 per cent This
style of quotation sounds portentous and scares
people"
lis there anything in our system of govern
mens that interferes with the progress Of the
country
No. We have good government to live
under i'll peace and prosperity. Whateve-
faults may arise are corrected by the people
themselves. II an administration does not
suit the people they change it and SO strong is
the country that change is attended with no
internal CONFUSION. After long series of re-
publican Presidents the people elected Mr..
Cleveland. The change was peaceable and
public affairs were not interrupted. There
were many people who wanted to continue Mr.
Cleveland in Office for a second term as a mark
Of approval Of his administration, but he was
defeated republican President took his
place and events continued in their even
course
lis there anything in the stock market to
excite apprehension
Nothing that am able to see. There is no
general imitation. and should say that yalues
tended upward rather than downward There
is not much railroad building going on now.
People who have railroad enterprises find it
hard to raise money for them and therefore ex-
cessive construction need not be feared. There
will not be much railroad building as long as
the inimical legislation continues. was asked
to build some branch lines in Texas When l
talked with people who previously had
promptly invested in such enterprises they de-
cllned TO advance money OH account of the fear
OF adverse legislation. The situation is the
same in Iowa"