Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-09-13
TARIFF AND MONEY MARKET.
Drfft Of Talk at the Capito on th
Financial situation.

Drift Of Talk at the Capits on th
Financial Situation.
n n THOUGHT THAT IRE NEW FORK MPoAfHRs
ARE ExAeoERATrNa THE ErFKcr TO BIZ PRO-
DucED By HAVING THE TARIFF BILL 90 IN
OPERATION ocroBKR l-sKcRErARr WINDOWS
PoLIcY coNNESpEp.
Every possible effort ID still being made BY
the importers and the merchants of New York
to secure an extension Of the time at which the
tariff bill h to 60 into effect, but there is as
yet no indication Of q disposition on the part
OF the trainers Of the bill TO yield.
The situation in New York and the action of
the Secretary Of the Treasury to prevent Q
stringency Of the money market to which TEE
STAR called attention some days ago, ID being
very generally discussed at the Capitol The
members of the finance and the WAYS
and means committees are slow to
be convinced that the furry Is
anything but fictitious, or that it ia a thing the
they been so disposed. They speak of it az an
effort on the part of the importers to coerce
Congress. and they may be depended upon TO
adhere to their first proposition unless il should
envelope that such a stringency existed in
the money market that would result in yery
general injury TO the business interests of the
whole country If any extraordinary demand for
money was made necessary. In view of the
statement from the New York
custom house as to the amount
OF bond, and in consideration Of what Secretary
WINDOW has done to relieve the financial si!ua-
ton, 1t will be very difficult to convince them
that there is any danger of general disaster il
the bill Is put into effect Oh the LIST of next
month.
THE INTERESTS OF THE PUBLIC ABOVE THOSE OF
THE IMPORTERS.
There are several influences operating on the
situation. In the first place, it is the object Of
the trainers of the tariff bill to take away the
business of the importers and to do 80 as quickly
as possible. Therefore the plea of certain i'm
porters that injury will be done them il
they are compelled to pay increased duties on
goods now In transit will not have influenced
upon the committee. The losses individual
importers may sustain through the failure of
an effort to get in a stock Of goods for several
months hence before the bill goes
INTO effect, is matter in which
the Trainers of the tariff bill are not concerned
II their losses were to be an injury to the pub
lie generally then the committee would be-
come concerned, but they will not be Influenced
by the fact that certain importers have not
trimmed their lamps in time.
THE OTHER SIDE OF THE QUESTION.
At the same time il is urged on the other
hand that it is an extraordinary thing 70 mt
law of this sort in operation within such A
short time after its general provisions are
known. Importers say that instances NAV
De found where, in cases where goods
were ordered to be manufactured in
Europe the contracts were made before the
tariff bill was passed by the House, and that in
al cases where goods are now in transit or in
hand the purchases were made without knowl-
edge OF what the provision of this act would
be, and that they could not be DELAYED for
months until the thing should be settled.
They think it unfair that goods purchased and
shipped under the old law should be made SUBJ
ject to the duties in the new
Being anxious to have the operation of the
law delayed, the importers, of course. are
making the most Of the threatened strinpepcy
OF the money market, and the tariff committees
credit them with exaggerating the trouble.
LIS ~ rs a &c. condition and not theory that con-
much locked up in goods in bond there are
other goods in transit and it will make a heavy
demand upon their ready cash to pay duties
and get goods from the ware houses before
October.
SECRETARY WINDOWS POLICY.
Secretary Window has proceeded upon
policy for the relief of the financial situation.
which meets with the approval Of most of the
t best f h1 in the country; Under
viz Ne'eAno administration the Treas
ury adopted the policy of increasing
the government deposits in the
national banks. This policy was very severely
criticised by the republicans on the stump.
especially by Mr.. Blaine. 1t was predicted
when the republicans took charge of the
finances that they would have to resort to the
same policy II the necessity arose to take prompt
action for the relic; Of stringency. and when,
on assuming the Secretaryship of the Treasury.
Mr.. Window did not at once withdraw tile
large deposits the fact was commented on as
indicating that it was found difficult to change
the former policy.
There is some disposition at this time 10 try
to force renewal OF this policy, and it was
thought that Mr.. Window might have to resort
to it. The pressure in that direction counts
for something in causing the present excite
ment.
NO RETURN TO cLEvELANps POLICY,
But Mr.. Windows policy Of buying bonds
and freely advancing interest is effective and
there will be no return to that Of increasing de-
posts. The difficulty with the deposit policy
was demonstrated soon after Mr.. Window took
charge. The fact that he did not withdraw
the deposits promptly was due to the
certainly that such withdrawal would cause
tightness in the money market, and right there
was demonstrated the difficulty with the policy.
The money once being put in the banks
it is practically impossible to withdraw
any considerable amount Of it without causing
trouble This fact will prevent any return to
this policy, especially when that adopted by
Mr.. Window is effective.
NO DISTURBANCES OF BUSINESS ANTICIPATED.
with the amount Of money that has been re-
leased by the Treasury and the availability of
more il the necessity arises the members of
committee on ways and means feel confident
that no general disturbance to business will
follow the tariff laws going into effect
THE TARIFF BILL IN THE HOUSE.
Mr.. Mckinley has been comforting with the
members Of his party who insist upon voting
on sugar and binding twine in the committee
Of the whole. They still insist upon
this, but from the apparent disposition on
the part OF the democrats not to
even II these matters must be con-
sideref in committee OF the whole
there will not be any waste of time
The action OF the committee on
ways and means today was such as 10 encourage
the idea Of speedy completion of the measure
They will, doubtless, be ready to report il the
House has quorum on Monday.
ACCIDENT on THE PETREL.--It has been re-.
ported to the Navy Department that while
the gunboat Petrol was being
New London recently one of her whale boats
was blown away from the davits and destroyed.
1t is probable that an investigation will be
ordered.
PERsoSAL.-Henry R Reed. E. D. Hayden
and John Shaw Of Boston, W. D. Eaton Of
Chicago and W. D. Faris Of New York are at
the Arlington.--Hev. C. H. Pendleton Of
Worcester, T. N. Levy Of New York, J. A.