Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1892-12-21
I,(5' a|lulehat.
FINANCIAL SITUATION.
Gold Exports viii Not Affect the Unite6
states Treasury.

F'NNNClHL 81 OA ION,
Gold Exports VIII Not Affect the UnIteG
States Treasury.
WASHINGTON, Dec. 2f.-The treasury
department was kept fully and prompt
ly advised Of the progress of the stock
market in New York Monday, and Sec
rotary Foster was in conference with
his assistants several times upon the
situation. After the department closed
the assistant secretaries, Messrs. Gear,
Spaulding ana Lanbertson gathered in
the secretary's room and discussed the
events of the day.
The reporter for the United Press
found them with no indication of any
excitement apparent The secretary
said. in answer to question, based on
report printed in New York, stating
that he was much exercised over the
matter and intended to come over to
New York to consult New York bank
ers:
II am not going to New York to con-
fer with bankers or anyone else about
the financial situation. There is moth
ing in it to warrant such action. The
idea has not previously occurred to me. )"
"You have noticed the engagements
for gold shipments tomorrow and the
panicky feeling reported on the Stock
exchange?"
"Oh, yes; but there was more COM
Portable condition Of things at the close,
You know. AS to the gold situation in
the treasury" continued the secretary,
1--WE are all right. Last month the eX-
ports from this country amounted to
S7,000,0 900, but the treasury lost only
100000. The reserve limit is fixed at
800 600, 900 and / have SEA, 800, 900 more
than that.
THE resources of this country are
greater and more varied than most peo-
pie know. and the money that is paid to
the treasury for gold can be used for re-
placing the amount sold. The money
is needed west and south to bny grain,
provisions and cotton: and if ! can save
a man $500 or $500 on 81 DOC, 900 he
doesn't stop at giving me gold in New
York for currency laid down for him
wherever he wants it. If they get us
down in this matter it will be only after
long fight and hard one"
"A man bet me box of cigars to-
day" observed Assistant Secretary
Gear. that gold would be at pre-
MUM i'll New York today. | expect to
find the cigars on the table when | get
to my room"
Il don't believe you will" senten-
tiously observed the secretary.
"If they are not there I'll go gum
ming after them" said Governor Gear.
But" resumed Secretary Foster, IF
it were not for the scare that seems in
evitable in connection with the ship
~ oh pt In
such bad thing after all. The balance
of trade is in our favor at the rate of
$50. 000, coo month, and the gold will
month we shipped more provisions
that the showing for December will be
as good For every million of dollars
we sent out of the country we get in eX-
change a million of dollars worth of our
Indebtedness
The best paper on earth" interiected
Assistant Secretary Gear.
Continuing, the secretary said: I'VE
have nearly $500, 100000 of gold in the
United States. If $500, 600, 900 were to
go out it would result in the reduction
of our public debt to that extent, with
the accompanying saving of interest on
that amount. am not at all uneasy
regarding the situation. and if Gov
ernor Gears friend wants to renew his
wager that gold will be at premium
before the ith OF March, I'll take it and
double it afterwards for the remainder
of the fiscal year ending June 30 next"
Then the secretary and Mr.. Clear fell
to exchanging observations on the pros
porous con t1tiOn of the country as
shown int ie purely agricultural por-
tions, notably Iowa, Governor Gears
own state
Pork is worth cent pound more
now than 1t was a year ago. said the
secretary
Yes" assented Mr.. Gear, at was
quoted at $40 hundred in my state
the last time | noticed the reports.
That's higher price than the farmer
ever got before except during the war
when it was paid form forty-cent cur
rency"
1--WE held a piece of land in Jones
county, Ia said the secretary, "for
twenty years. Never could get an offer
for it until this fall, and I've just sold it
for $25 an acre cash"
well, you beat yourself by $15 an
acre" remarked Mr. Gear 1T is worth
at least $40 an acre. Up in the north
ern tier of counties of our state / locat-
ed quarter section of land thirty-two
years ago. Never could have sold it for
$500 until this fall Got an offer of
SO, 800 and let it GO"
With these comfortable and consoling
reflections fresh in their minds. the sec
rotary and his assistants separated, the
former reiterating his statement of
Sunday that he intended to manage the
affairs of the department as the active
head until his term expired, and that he
had no doubt of his ability to maintain
at its present figure the gold reserve in
the treasury.
MONTANA'S SILVER STATUE.
The Model of Miss Ada Rehan's Symmct-
rica1 Form Exhibited to the Press.