Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-07-01
PRESIDENTS INTERVIEW.
WAS WRITTEN our AND HANDED
TO THE PRESS.
Issued TO stop Bear Movement In
American stocks-The Cow
ernment aud the
Hanks.


Special Dispatch.
washington. June 3O.-The presidents
interview" on the national finances,
which was prepared In writing by his,
own hand and is therefore only a less
formal style OF proclamation. is nat
urally the uppermost topic here. 1t
is said by one person usually well In
formed that Mr.. Cleveland has had
some such publication in mind for sew
eral days, but that he was waiting for
Secretary Carlisle's return from his
outing In order TO verify certain state
ments and do the secretary the cour-
tesy OF consulting him before putting
forth anything on subject so strictly
within Mr.. Carlisle's jurisdiction. The
secretary having come back yesterday
afternoon the diminishing touches were
given to the Interview, and IL was
handed to the representatives OF the
press association In the evening.
What moved the president TO depart
from his usual rule Of silence was the
discovery OF a plan to bear the Amer
lean stock market. which was already
so far under way as to have more
or less shaken popular confidence In
Europe The panlcky feeling in for
eign bourses caused by the assassina-
ton of President Carnot was likely
to be seized upon by the bear opera
tors as creating a good atmosphere
In which to direct general assault
upon American securities already Civ
ing some signs Of shakiness there.
From all quur.ers have come letters
and kilograms asking eager questions
Of the president or urging him to take
some pronounced step such as he took
year ago TO check the alarm over
the silver purchases and the suspicion
that the treasury was going to redeem
Its coin notes In silver
New YORK BunlSers Interested.
The first thing In the presidents
mind, as long as he has decided to
issue n manifesto of any sort was
to convey to the New York banks the
appreciation which was felt here OF
their course In relieving the treasury
of a part Of its gold drain. There has
been so much and so violent abuse OF
the banks, not little OF II coming
from the representatives Of the par
ticular section OF country from which
the present secretary of the treasury
was taken. that II seemed proper for
some one high IN authority to indl-
cate that the administration at least
was not unmindful OF their assistance.
whatever might be said in congress
and on the stump. There may have
been. also an intention to convey to
tinanciers outside OF New York the be-
lief OF the administration that the
banks In that city would continue to
stand by the treasury when needed:
for Chicago bankers had already caused
an intimation to be made TO the treas
ury authorities that II New York
could not be depended on, there was
gold enough and to spare in the West
which would be willingly handed over
when needed. The local agents OF GER
tain stock jobbing concerns In New
York which are enlisted in the bear
movement were industriously clrcu-
lating n report that the New York
banks had decided to cease the relief
they have been giving the treasury Of
late. IL these banks have any such
purpose In mind, no hint OF Il has been
received at the treasury UP to noon
today. 1t Is understood there that the
banks took upon themGelves voluntarily
and without any urging froms WASH
ington. the task to which they have
addressed themselves thus far this
week. They gave no advance notice
OF their purpose to begin, and they
have not given any notice OF their in
tention to quit. 1t is matter from
day to day, not the pursuance OF a
settled and elaborate policy. The feel
ing here Is that they will continue at
least for a time, on the ground that
from SS5,O00,000 TO $4,000, 900 OF gold
are locked up in their reserves which,
under normal conditions. would be in
the treasury, ana Its paper equivalents
In circulation among the banks Gus
toners.
The Tariff Responsible.
No apprehensions are felt for the
future OF the treasury gold reserve.
because with August and September
w.