Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-04-26
FURRY IS SUBS|D|NG.
Financial Confidence is
Being Restored.
A GOOD RESERVE BALANCE.
Heavy European Demand for Gold
Shows Signs Of Abating.

WASHINGTON, April 26.-The president
was asked whether there was any likeli
hood of a session being called before the
date originally announced for September
He replied: AT present do not think il
will be necessary. The condition of the
treasury and the situation of affairs ar,
now very encouraging. The reports which
have received since the ann ouncement OF
the administration policy indicate the
restoration of confidence at the money
senters It looks now as II the furry
which prevailed In Wall street last week
has subsidized, and monetary affairs will
resume their normal condition In few
days.
The president and secretary of the treas
ury have already received ample assur
ances from leading bankers in eastern an6
western cities, guaranteeing assistance {,
the extent of S25, 600, 900 in order to main
tain the gold reserve.
The Condition of the Treasury
shows quite little improvement, ani
there Is very perceptible decrease in til,
nervous apprehension and excitement over
the situation. This change in the aspect
of affairs is partially due to the genera.
recognition of the determination OF the
president to maintain parity between oui
money issues to the extent of bond issue
II 1t comes to that. The gold balance ovei
the so-called tl00, ,000, 900 reserve is health
Ter than it has been for some days, but
equally as much importance 10 attached BY
treasury officials TO foreign advices that tn 3.
urgency Of the European demand for gol /
had abated, and that there was prospect
OF a temporary cessation OF week or 80
longer OF heavy gold exports. Meanwhile
the treasury is gaining gold to meet the
next drain on its resources, and the open.
ing Of the Worlds fair Is looked forward &c
as bringing additional gold into the coun.
try
Secretary Carlisle said that he had ac-
cepted offers of nearly s6000,0O0. As the
gold taken for export was much less than
predicted, the result was very favorable
showing. Most of the gold received yes
terday was from Boston. 1t was expected
the conferences In New York would result
In the banks of the metropolis putting
large amounts of gold to the credit of the
treasury, and on the strength of these ca
pectations the treasury officials predicted
the stock Of gold would rise to $4,000, 900
this week, but
A Hitch Occurred
at the conference, and for the present at
least the treasury will have to d. cpenl on
offerings from banks outside of New York.
These banks have comparatively 'smll
gold holdings compared with New York
banks.
One favorable element in the situation
to which attention is just beginning to be
directed 10 that Austria 10 steadily and
almost rapidly nearing the mark fixed as
It's gold requirements for q reform in its
currency system. The Austrian financiers
fixed their country's gold requirements at
500 900. On the basis of previous
calculations the last gold exports shoald
have brought Austria's gold to within
%, 0O0, 900 of the required amount
The treasury has made an authoritative,
though guarded statement, regarding the
New York conference. 1t was to tue ef-
feet that last Saturday certain banks at
New York sent to the secretary PROPOSE
tion which the latter refused to accept.
The secretary prepared and sent a differ
ent proposition which the banks would
not accept, but they forwarded to Mr. Jor.
dan second proposition which was re-
ceived at the department yesterday and re-
jected