Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-12-20
KEEPING THEIR EYE ON THE MARKET
The Treasury Metals on the Out Vive, but
vi e. Not q hxious. They Say.

KEEPING HEIR EYE ON The MARKET
The Treasury { Metals on the Out tive, But
it}i r.. Notr9 hsious. They Say.
| WASHINGTON Dec. u. 49, The treasury
department was kept fully and promptly
advised of the progress of the stock market
in New York yesterday, and Secretary Eos
ter was in conference with his assistants
several times upon the situation. After
the department closed the assistant secre
taries, Gear. Spauldng and Iambertson.
gathered in tho secretary's room and dis
cussed the events OF the day. There u reporter
| for the United Press found them with no
| indication OF any excitement apparent.
The secretary said, in answer to a question
based on n report printed in New York
that he was much exercised over the matter
and intended to go over to New. York to
| consult New York bankers: Il am not 60
| ing to New York to confer with bankers or
| any one else about the financial situation
There is nothing in it to warrant such ac
ton. The idea has not previously even oc
Cured to me-
The ressury Is All Blight.
You have noticed the engagements for
gold shipments tomorrow and the panicky
feeling reported on the stock exchange'"
"Oh, yes. But there was a more COM
| Portable condition of things at the close,
you know. As to the gold situation in the
| treasury continued the secretary, I'VE are
all right. Last month the exports Of gold
from this country amounted to g. 000, 90.
but the treasury lost $50, 900 only. The
reserve lint il fixed at 500, 000, geo, and
have S24 ,50O,0S more than that The re-
sources of this country are greater and
more varied than most people know, and
, the money that is paid to the treasury for
gold can be used for replacing the amount
sold. The money is needed west and south
/ to buy grain, provisions and cotton; and if
/ can save man $50 or 5000 on s. 900, 900
he doesn't stop at giving me gold in New
York for currency laid down Tor him wher-
ever he wants it, If they get us down in
this matter it will be only after long fight
and hard one
Payin: Oar Debts Abroad.
"A man BET me- box of cigars today"
observed Assistant Secretary Gear, that
! gold would be 1T n premium IN New York
today. l expect to find the cigars on the
table when get to my room"
81 don't believe you will" sententiously
observed the secretary.
If they are not there I'll go cunning
after Them said Governor Gear.
But" resumed Secretary Foster, If
At were not for the scare that seems newt
able in connection with the shipments of
| gold abroad it would not be such bad
thing after all. The balance of trade is in
our favor at ne rate of 3OOJO,OOO n
month and the gold will certainly find its
way back here. Last month We shipped
more provisions abroad thnn ever before
and l believe the showing for December
will be as good. For every $1,000, 900 we
send out of the country we get in exchange
81 ,000, 900 worth of orr Indebtedness.
willing to Bet Against Gold Premium.
"The best paper on earth" inter jected
Assistant Secretary Gear. Continuing the
secretary said: We have nearly 5000 900. 900
OF gold in the Unit d States. ii 500 900, OOO
were to go out it would result in the reduc-
ton 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 Governor Gears
friend wants 70 renew his wager that gold
will be Mt premium before the 4th of
March I'll take t and double it afterwards
for the remainder of the fiscal year ending
June 30 next Then the secretary and
Gear fell to excl angling observations on the
prosperous condition of the country as
shown in the purely agricultural portions,
notably Iowa, Governor Gears own state.
The Country Store Symposium
"Pork is worth IA cent a pound more now
than it was a year ago." said the secretary.
"Yes," assentei Mr.. Gear, "it was quoted
at s.. 40 a hundred in my state the last time
/ noticed the reports. That's higher price
than the farmer ever got before except dur
ing the war, when it was paid for in 40
cent currency"
"I've held piece of land in Jones coun.
~, Iowa." said the secretary, for twenty
years. Never could get an offer for it until
this fall, and I've just sold it for SIS an acre
cash.
"Well. you be 1T yourself by sl5'an acre,
remarked Nj Gear ats worth at least
$40 an acre. Up in the northern tier OF
counties of our state | located quarter
section of land thirty-two years ago. Never
could have sold it for $500 until this fall
Got an offer of sl2 500 and let it CO."
With these comfortable and consoling re
Elections fresh in their minds the secretary
and his assistants separated.