The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-09-14

bankers TO attend conference anu eX-
change views with him. The conference
was in session two hours. Window said
suggestion was made to deposit Govern
ment funds in the national banks, but it
was rejected. He was in favor of extend
ing the time for paying the duties on goods
now on hand at the present tariff until Feb
ruary 1st. He viii take every possible step
to relieve the present stringency. He be-
lieves he has ample resources to effect the
purpose.
AN IMPOSSIBLE PROCEEDING.
Referring to the conference between Sec
retary Window and the financerS, an even
ing paper says: The question of putting
Government money in deposit in national
banks was brought up. Secretary Window
reiterated the position of the Government,
and emphatically declared that such pro-
ceeding was impossible. In regard to the
proposition of the Government paying
years interest on s65OOO,OOO currency skies
bonds, Secretary Window stated that Con-
gress would have to authorize it,
a proposition which met the unanimous
approval of those present. including the
Secretary, was to suspend the payment of
customs du ties from November 1st to Feb
ruary 1st. Secretary Window said the pres
ent difficulty in the money market he be-
lieved to be one that extended all over the
country and was not confined TO Wall street
or even New York. He said it would re-
quire a great deal of careful consideration
to settle upon the best method of relieving
the stringency, and for that reason nothing
would be done hastily.
DUTY ON GOODS IN BOND.
In regard to the scare, which is based upon
the belief that large amount of money, ac-
cording TO many more than S5O,000GO0, will
be required Immediately 10 pay duties TO
take goods out of bond in case the McKin-
ley bill goes into effect October 1st, Assist
ant Treasurer Roberts says: " 1t might be
suggested, in the first place, that this
amount is Overstated, for the Custom
house authorities have estimated that
the amount of duty payable on
goods now in bond does not amount to more
S10,0O0,Go0. In the second place, if these
goods are withdrawn in large amounts and
thrown upon the market it will have
tendency 10 check imports, so the amounts
of revenue received will be diminished. At
any rate it should not increase the strin-
geney. 1t would be wise, however, in my
opinion, for Congress to extend the time
within which goods now in bond could be
withdrawn. This would tend to relieve the
market; but in any aspect of the case do
not think there is any serious ground for
alarm"
ACTION OF THE TREASURY.
S. Y. White went to Washington last
night and was in conference with members
oil the Senate Finance and the House Ways
and Means committees. He says: There
is no doubt whatever that the time for the
withdrawal OF goods from bond will be ex-
tended. The Treasury Is doing everything
possible for the relief OF the money market
and will continue to afford all the relief
which may be found necessary"
The shiDments of currency have been
heavier this week than any previous week
this season. Nearly all the currency
shipped went West and South. There has
been a heavy outward movement Of gold,
100000 going to San Francisco.
WINDOWS STATEMENT.
Secretary Window made statement to-
night regarding the amount of money tied
up in the Treasury. He said: "Comparl-
sons have recently been made of the sur
plus now reported in the Treasury with the
amount reported year ago, from which the
ent Administration has pursued policy to-
ward contraction. In this connection the
following statement will show the fallacy
OF this belief: The net amount of cash,
fractional silver and National Bank Redemp-
ton Fund in the Treasury on the 1st Of
amount of the same items September 10,
1890 was S99, ,509, 220, which demonstrates the
fact that over Si1. .000.0 900 has been paid out
since September l. 1889, than has been re-
ceived into the Treasury during that time.
In other words, every dollar received by the
Treasury since September !, 1889. has been
paid out ana over S41, 100000 besides.
THE SURPLUS.
"The apparent surplus shown September
10, 1890 OF S99, 500, 800 is made uD as follows:
Fractional silver coins, about S22,000000.
which is unavailable for The purchase of
bonds; in national repositories, 25.000,000.
These two items, amounting 10 S47000,000,
deducted from $500 0 900, leave about $52,-
coo, 200. which represents the entire avail
able cash in the Treasury, and that sum is
part of the S55. 100000 national bank re-
dempiion funds, made available by the
recent act of Congress. There is therefore
not a dollar in the Treasury, the surplus of
dues or internal taxes. Hence there is Qot
a dollar which represents any boarding OK
currency during last year. The $50, 600. 600
above referred TO has been in the Treasury
for several years. and This fund at one time
during The last administration amounted to
about S110,0O0,000"
TO PURCHASE PER CENTS.
The above statement is not theoretical ex-
position of the Treasury, as it is an actual
fact that there we're in circulation on the
1st day of September over S45, 00,GG0 more
than there were on September l, 1889 Sec
retary Window said lie would probably take
steps at once to purchase some per cents,
but how many he declined to state. He in
tends to remain in New York several days
and take all necessary steps to relieve the
stringency in the money market.
THE PRESIDENTS ACTION.
WASHINGTON, Sept. 13.-There was long
consultation to-day by wire between the
President at Cresson. ana acting Secretary
Batcheller and Assistant Secretary Nettle-
ton, at the Treasury Department., concern
ing the stringehcy IN the money market,
during which the whole situation was thor
oughly gone over The President, it is un-
derstood, stated that it is his desire to avert
a panic in the money market, and that none
shall he permitted to occur if the Treasury
Department can prevent il.
The views of the President were tel
egraphed to Secretary Window at New
York, who sent the following message to
the President: 81 have had a conference
with leading fnaneiers. There appears to
be considerable stringency, but there is no
ItdSOU W uppltllcuu otllOuo Consequences
| am fully advised, and will take such
action as think the situation requires"
The President, also, has been in c0nsulta-
tion by wire with Major Mckinley, Chair
man Of the Committee ON Ways and Means,
and others, in regard TO the propriety of ex-
tending the date fixed by the Senate for tie
new Tariff Bill 10 go into effect The mat
ter, it is understood, is to be the subject OF
further conference,
This director of the Mint announced to-
day his willingness to buy largely of silver
on Monday, II the offers are favorable, in
order to assist in relieving the stringency in
money.
BONDED MERCHANDISE.
The Treasury Department caused care