New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-01
GOLD EXPORTS TO GO nv
FOREIGN EXCHANGE MARKETS srr,n
ADVANCING
SHIPMENTS MAY BE DEFERRED UNTIL s.--
DAY. But WILL Re LARGE THES-cospvx
MING A REPORTED PLAN REGARDING Tn,

SHIPMENTS MAY BE DEFERRED UNTIL s.-,,
DAY. But WILL Re LARGE THEN-coNDvx
MING REPORTED PLAN REGARDING tn,
PAYMENT OF CUSTOMS Dues IN COIN
Bankers are OF only one opinion as IN ,h
tainty OF heavy god shipments SATURDAY.
foreign exchange MARKETS advanced again vess,. ~
but little business was done. there W.,
steamer sailing to Continental European no,,. 70
day The shipments OF specie, owing to tho s,
ton OF the exchanges. have been made to m. -
tinenf and not to London. There Is fast Ger
steamer sailing tomorrow. but It IL not ee,,S
that she Will carry ont any gold. One large ..
eIgn banking house expressed the opinion that rs'
would be no exports to Germany this week !,
another house equally prominent in the bus,,.-
was not 80 certain. holding that to-day's f,,s,s
exchanges might develop conditions which vo'-
warrant shipments on to-morrow's steamer A.
yeI-nformcd bankers feel that there ru, :
n larger ec,uX TO France and Saturdays exrs-,
II IS believed. will about equal last Saturdays 81.
nents. which nearly reached $4,000 The s,rrr,
of exchange and the inability to procure comnsrs,
hills with which 70 make remlttances 10 Eurs.
min, 10 a continuance Of the outward foy Of M
precious metal. The DISCUS; Of European cap,,L
ists a, the lamentable incompetency Of the DeuA
cratic Congress, wiki the confusion into which
has thrown the National finances Is steadily r,,
ing and bankers confess that they can see no pro.
nret Of n termination OF the god export rnoven.s,
There has been Il quiet whisper from Washnss
IN rho last few days that the Administrator or
temn.ated some plan for compelling the payre,, I.
goIl ~ a certain percentage 81 the customs dues a
order n strengthen the Treasury's god reserve h
" aid that bill Is a.rea'y prepared containing,
n,ov,sIon of this nature. 10 be introduced into o.,
gress At present the receipts OF the Goyernr,-
arc entirely In other forms OF money than gold pv
hanke-s EXPRESS themselves strongly opposed 10 :
attempt TO force by iaW NE ~ OF goa IN PAYNE
1i,as,rous effect on sentiment and almost instant,
Droiuce A premium on the precious metal. Bud
4 law IL f. argued, wood Imply that the Cover.
mon. preferred gold other forms o. ts curres-y
thereby making discrimination against the cs,
rency which the existing law requires the Govern
ment 10 maintain par with gold. By forarf
the payrlent OF customs dues Or any part In the 70,
lOW meta. 'he proposed Jaw "ou,l create demsN
result bankers contend. would De 10 pace a hlgAf
value on god than other forms OF currency. az,
no, only would confidence receive a shock bu. Ia
hoariing o. gold would begin at once
II Is an eloquent commentary on the opinion whta
the financial community mods regarding The p!essl
Treasury Department that bankers even FOR 4 no
mert give credit 10 IN" rImor tha' the Adminstrt
ton favors such "A measure as has been discussed
It Is hoped. however. ihat wail'ngs VIA De ase.a
from The centre 81 the country capital before n.
Secretary Of the Treasury or the resident con-
mits himself 70 such dang -rou- and tem)ra1rs
measure. Bankers are impatient at me various il
vices AMI makeshifts by which ne Aimnisirataa
is seeking avoid postpone the inevitable issue
with which II viii he confronted hy the growing
poverty Of the Treasury and the snrnkage Of he
gold reserve. In financial circles IL Is coaslisri
matter OF vital and immediate Importance hI
the Treasury should take broad measures 70 resOr
its resources, AMI those are recognized 70 20.
through all discussion. N large borrowing u
money by means u Government bond issue.