Evening star. [volume] (Washington, D.C.) 1854-1972, 1892-12-30
TWO CENTS.
Il is Emphstically Denied hy the Prcsident
Views of Treasury onicisis.

Il IL Emghaticaily Denied hy the President
Views of Treasury oricisis.
A very pretty story was telegraphed broad
cast from New York last nigh; 70 the effect that
Secretary Charles Foster, while in New York
recently, submitted a proposition to bankers
for the issue Of fifty or q hundred millions
Of United States bonds for the purpose OF
checking the expectation Of gold. and that the
plan was checkmated by telegrsphic Instruc-
tons from the President in the following or
similar words:
81 want no new bonds issued under my sd-
ministration. Take no steps. Do nothing.
''B. HARRIsoS."
TIE PRESIDENTS STATEMENT.
STAR reporter questioned Private Secretary
Halford at the White House on the subject to-
day and obtained from him the following state
ment, the publication Of which was authorized
by the President:
The President was not informed of the inten-
ton OF the Secretary of the Treasury to visit
New York and has not communicated with him
or heard from him in any way. He has not
been unobservant of the financial situation
and does not think the treasury will
find it necessary to adopt any new policies. He
has said several times publicly that he would
maintain the parity of all our money issues. and
that declaration stands. There is no disagree
ment between the President and the Secretary
rs TO the management of the treasury"
GOLD EXpoRrATIoN AT AN END
Treasury officials generally are of opinion
that the expectation of American gold il al an
end for the present, and that conditions sure to
come In the near future will result in the re-
covery Of much that has already gone abroad.
Treasurer Nebeker saws he thinks the people
who have been drawing gold from this country.
If they had in view the breaking down OF
American credit and the depreciation Of the
circulation in this country based on silver coin
and silver bullion. have found the task too
great and have given it up. The wiling
ness Of the banks to supply the government
with gold has been an important feature in the
situation, and has practically converted
greater part of the 5000. 900. 900 gold stock in
this country into a treasury balance of that
amount.
The treasurer also calls attention to the fact
that great factor in the loss of gold every
summer is the large amount needed to paw
the bills of Americans travelling in
Europe. In ordinary years there Is an
enormous amount of money spent by
Americans travelling abroad. They carry with
them letters Of credit on bankers in various
parts Of Europe and are given the money of
the countries they desire to visit The Ameri-
can bankers issuing these letters of credit must
then arrange to hate the European bankers
reimbursed for the money paid out.
and this is done by the shipment of
gold. Next summer, however the
probability is that many Americans who
would otherwise go to Europe will STAY at hone
and visit the worlds fair instead; and at the
same time there will be a considerable stream
OF travel from Europe to this country, and
every European visitor TO the fair will
spend considerable money from the time he
lands in this country until he leaves. and
all this expenditure by visitors will act
to decrease the usual summer balance against
this country. 1t is not likely that it will make
a balance the other way. for the principal
feature Of the balance against the United
States during the summer and autumn il caused
by the heavy imports from Europe at the time
of year when the exports are lighter than late
in the fall and during the winter and spring.