New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-13
THE GOVERNMENTS STOCK or GOLD.
ASSISTANT SECRETARY CURTIS'S VISIT HERE

ASSISTANT SECRETARY CURTISS VISIT HERE
THOUGHT TO BE IN RELATION TO 1T.
W. f. Curtis. Assistant Secretary OF the Treas
urv was in the city yesterday He went down 10
Wall Street and in company with FREDERICK ~
Tappen president of the Gallatin National BANK
made visits to a number of banks He called at the
First National the Chase National, the Fourth
National the National Bank Of Commerce, the Third
National the Chemical National. the Importers and
Traders National and other prominent banks MI
Curtis declined 10 tell reporters the OBJECT OF MS
visit II Is understood that he discussed with many
Of the bank officers the general financial situauoh'
csrec!ally as affected by the unreasonable move
rncut Of gold exports begun last SATURDAY.. Ihe
total shipments of gold Saturday and yesterday
Amounted 10 81 100000 The low condition of the god
reserves in the National Treasury. which holds less
than SS4 100000 in free yellow metal com ana puho
makes the transfer OF gold to Europe OF some IN
terest to the Treasury. The question becomes OF
additional importance In view or the eNcess VI
S3OOODOOO in Government expenditures over receipts
for the first five months OF the fiscal year. and the
nrosnect Of a further decrease from customs, If the
Wilson Tariff bill is adopted
Mr.. Curtis gave no indication of what the financial
policy Of the Government would be, ana mao 10
propositions to make TO the bankers me paf in
generally. 1t Is understood expressed me opinion
that should the demand for gold from Europe ON
tnue they would be WILING to suppy AZ 70 70 500 90
or $50 Cc0O0 They informed Mr. Curtis Of the DIN
Guilty in procuring concerted action, so that ~
hanks would not be taxed with meeting the DuIh
Of the. demand. Several bankers urged upon MI.
Curtis the lesirability of the Governments max
ing an Immediate large loan to meet It's pressing
necessities and to protect the financial communi.y
from possible revival Of fear respecting the api'y
10 main tain gold payments: - =, ,,.uros,
Some bankers believe in the granting by congress
of authority TO the Treasury TO issue blIs aitel
the fashion of the excheGuer bills OF the irIlsn
Government so as to enable the Treasury 10 porrUw
money when IL is in need. end 10 redeem the pllIs
when It's revenues provide surplus. other bankers
favor a funding Of the arrearaseH or pensions IN
bills Of this sort which would readily be taken IL,
case pensioners needed money ana not papct
evidences of Indebtedness. even though these pole
interest The financial community Is becoming I'm
natient at the long delay in the Issuing oil seer
tary Carlise's annual report TINS document II
awaited eagerly. 49,, o-,,o, =,
The recent sharp fallingoff in the proportion or
gold used TO settle the daily balances between the
Clearing House banks has excited comment. i'a az
summer when the currency famine prevailed tht
hanks used 50 TO co per cent or Gou III mar hi,
settlements OF late the proportion has run AZ nen
&c Ok 70 30 per cent on Monday only l6 per cent
of the settlements made in gold. and YESTERDAY
The proportion was down to IL per cent Inc sehsl-
tiveness of the banking community rnay pe re-
aected in this sharp decrease in the use OF eoIn
among the banks as soon as the foreign eAcnas,S
indicate large shipments OF the precious ihe'a' ~