New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-22

In the discussions in financial circles 10 :"
Secretary Carisles public statement OIL Se'',,
day the general opinion was well eApre''e' "
J. Edward Simmons, president oil 'nc
tioual Bank, who said: Mr. Carl'c ,'"' q"
nounccd no policy; his words mean ho'ii'''5
far as any solution of the question Is coh'ei i'o'
If he should at any time decide 10 rSeetIi w InI ~
,r,- notes i'm silver, holding II 10 De Ilc5"i ~
NJ. tLo SlOO 100000 gold reserve lof 'e II Ia
dcrntion of thcs, notes, the GoVernheht w1"i' i
suspend payments, which, 10 my iu nud' vs.J 70
n,st unfortunate. Tie reserve shoulu pe uSu ~ "
meet all obligations of the Government, anu WV,
II was reduced to point where tne oev,",'is $50, ~
of the Treasury woum regart nv ~" rentorcrnenr,
bo should sell bonds and IN TINS way preoci.o
th. credit of the Government until congress Lhes
70 dispose of the question permanently In 1' Mao
mean time the situation would undouD,euiS III
nrnvc for notice would he given ~ the "0riu
that all our Obligations We're 10 oe feN'e"e' '''
gold -, ,o, ,xoh,bIr tho heaviest
o> nnrters OF gold Alexander Weill OF tnat
firm said yesterday: THINK tiat fcs'oid.o, a
Of confidence here and abroad will bring ABOUT
a change in the money situation, ana that res'ora-
lion will be FASTENED by the evident deterhina-
ton of the Treasury Department to preserve IN
tact the credit of the United States Oh thr
other hand any Of Ter Tor snG IF ps"'' gnd would
be uualiestionably bad This government should
do all in it, power to MAINTAIN the party octw Nv a.
cold and silver and should pay gold, II II De De
mnn.,nd hv holders of notes or obligations paya-
liza in ,hat coin. as long as there is any gold in
the Treasury +, ~ o,,rt,rs
against exporters of gold" continued Mr. Wen,
lis unrcasonal le and absurd. Exchange dealers
are necessary alike to exporters ana importers D,
merchandise and TO those who bring over or setlu me
away securities and the idea of blaming them ne
cause the balance of trade necessltates shipments
of gold is ridlculously unjust. When bankers s.ii
bill of exchange they will naturally cover & wl.a
cannot be obtained in sufficient quantities me
gold Itself must be sent Bankers bills are not
issued and sold in unlimited quantities, ana the
mercial and bankers bills 10 the extent possible
under the circumstances Of the ease are forced to
ship gold for the balance. The imports of produce
Of all kinds have for some time exceeded the eN-
ports Hence, the present situation
hen, too. European investors have not peen
investing in American securities as th'y lorlilerIF
did. simply on account Of the uncertain condl-
ion of financial affairs in this country. IL Con
grcss and the present Administration WILL oy
proper action. restore confidence IN this country
finances, there will be larger European invest
mcnts than ever in American securities and IN
dustries This will be a large factor III Changing
the aspect of the situation ,., .,
a large portion Of the gold now shlppeu goes
TO Austria because the needs of that country, due
TO it's financial reorganization, are sucn that IL
is willing 10 pay little more for g9ld 'hah uo
other European countries sine. goia i hd1 10 ~, Wv
shipped, the exporters of it will naturally seek
the best paying market The more they can er,
for their gold abroad, the cheaper they can sell
President John McAnerney. of the seventh Na
tional Eank in speaking of the present financial
situation, said: The effects of the Silver Pur-
chase act are now apparent. Congress cannot
fail to repeal or modify it. In the mean time, IN
this crisis | believe the banks should give the
Government every dollar of gold they have, II
necessary, to restore confidence. We only want a
leader now. Let the large banks act and we Will
all follow
Conrad ~ Jordan. the Assistant Treasurer at
Ncw-York. returned last night from Washington,
where he had gone to have his bona approved oy
the Treasury DEPARTMENT He will take charge Of
the Sub-Trcasury to-day. Mr.. Jordan told Irib-
unc reporter that he had talked with Secretary
Carlisle the financial situation. lie wouIi NOT
Give thc result of the interview. Mr. Jordan
intimated. however that there would be no bond
issue. and that the payment OF Treasury. notes
in gold would continue. lie thinks that there Is
enough gold in the country TO meet all the pres
,..,,t