Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-09-17
THE FINANCIAL SITUATION
Acting Secretary Batcheller of the OpiE-
ion That the Crisis is Past.

Acting Secretary Batcheller of the OpE-
ion That the Crisis is Past.
WASHINGTON, Sept TT do not
think anything can be added to the very
comprehensive statement made by Soc
retary Window, us appears i'll the
papers, said Acting Secretary Of the
Treasury Batcheller, Monday. The
financial situation is not entirely at the
disposition of the treasury department
1t would be carrying 'paternal govern
ment' to an extreme were the public
treasury to be employed TO meet every
contingency which legitimate business
or speculation might produce in the
money market The duty of the treas
ury department is limited to the collec-
ton and disbursement or the public
funds, and its policy Is to keep iii circu-
lation as much money us the business Of
the country would seem to require, but
owing to the enormous advance III val
ues OF all classes of farm products and
the consequent increase of the business
of the country much more money IS
now required than the most sanguine
tinancier could have anticipated few
months ago
If legitimate trade requires large sums
OF money at high interest it is srrpiis-
ing that the holders of goverume 1t
bonds who do not realize to exceed
per cent. interest should not sell them
to the government at fair offer and
lend the proceeds to those desiring to
borrow. | apprehend if the borrowers
could furnish satisfactory security there
would be no real difficulty in finding
sufficient money in the ordinary chan
nels to meet al legitimate demands
Surely the treasury department could
do no more than to make the offers pro-
posed by Secretary Window, and as he
wisely intinates these offers should he
met by equal generosity on the part Of
financial men. if all are equally i'll
terested or disinterested in maintaining
the credit of the country.
AS to deposiling the so-called sur
plus in the National banks, this Is in
practicable for the reason that the treas
ury has never made direct deposits i'll
National banks. The process practiced
under the lat administration was 10
leave on deposit the Accommodations of
public revenues in National repositories
Until certain limit was reached, To
return to this practice would require
considerable time, perhaps weeks, III
order to accumulate sufficient money
from the ordinary revenues to make any
pc. ceptible increase of deposits in
National banks The transferring Of
money directly from the treasury to the
National banks is without authority of
law and never has been practiced; conse-
quently the policy so generally recon-
NEEDED of returning to deposits would
fall short OF the desired effect of turn-
ishi & immediate relief
Congress will probably extend the
time for withdrawing goods In bonds,
although, rs has been before stated, the
amount required for duties upon goods
affected by the Mckinley bill has leea
greatly exaggerated. | do not believe
that ii would exceed $l0.000,000 if it
Were all required to-day. | think the
'crisis. if am y really existed has already
passed, and that there will be plain
sailing for all 'seaworthy Vessels in the
immpliatn futurp