St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-11
The President interviewing
Men Of Affairs on the FL
nancial Situation.
President Hill, OF the Great
Northern, the First
Summoned.
The Latter Of the Opinion
That the Outlook Is
Grave.
Chicago Bankers Offer 3d.
100000 in Gold to the
Treasury.
Special to the Globe.

Special to the Globe.
WASHINGTON. March 10. - From s
o'clock last evening until nearly mid
night President James j. Hill, of the
Great Northern, was closeted at the
White house with President Cleveland.
Mr.. Hill went to the presidential resi-
dence with Secretary of War Lamont,
and the latter remained for some time,
but not through the conference. When
President Hill returned to his hotel he
admitted he had been to the White
house and that the financial situation
had been the subject under discussion.
Mr.. Hill is of the opinion that
the outlook is much graver than
is generally supposed, but declared
that he has complete confidence in the
ability of the administration to bring
the country through the difficulty. Mr..
Hill at that time declined to state the
views of the president, and today. from
a very high source, has come the in
formation that Mr.. Hill is but one of the
large number of the leading men of af-
fairs of the country who have been sum-
moned to meet the president and dis
cusS the financial problem with him.
The fact that Mr.. Hill is the first one is
explained by the statement that he
chanced to be in New York and was
summoned because near at hand. 1t is
The Intention of MIR. Cleveland
to call to him men of large business ex-
perience from all parts of the Union
and learn their views. BY so doing the
people of the country will understand
that no clique of bankers are having any
undue weight With the administration,
as has been frequently charged to have
been the case in the past. Mr.. Hill was
as slow to tell the course he suggested
out of the difficulty as he was to give out
the views of Mr.. Cleveland, but he did
say that in his opinion an extra session
of congress at the present time would do
no good.
"There is q great demand for cheap
money throughout the country" said
Mr.. Hill, land yet we are about to see
the government rate of inter est adj
vanced about per cent. Had $40, ,000,-
600 in bonds been issued at the time the
money was needed they could have
been floated at Ill; but am afraid that
it will take $500, ,000, 900, and that guam
tity will not command more than par.
Thus it will be seen that the govern
ment rate of interest will be advanced
just l per cent"
President Hill declared that he saw
enough in New York to convince him
that no small amount of bonds will help
out at this time, and there is no doubt
that he so-eXpreSsed himself to the
president. Don NJ. Dickinson, of Mich
igan, is at the White house this even
ing, and every Michigan candidate
imagines that his application is being
considered, but Mr.. Dickinson is now
engaged on the great problem that con-
fronts the administration, and brings
the views of a number of eminent men
to the president, and not formal ac-
ceptances Of positions. President Cleve-
land and Secretary Carlisle were in COLI
ference several hours during the early
part of the day, and the secretary of the
treasury returned to the White house
this evening.