The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-14
BLACK FRIDAYITES.
THE GOLD SYNDICATE CAME UP
WITH ANOTHER $4,000, 900.
AFTER IT HAD ALMOST
CREATED A PANIC.
DEPARTMENTS SORE DEPRESSED,
BUT CHEERED UP AS SOON AS
MORE MILLIONS WERE DROP
PED INTO THE SLOT.
Unprecedented in tie Street.

CarIysIe Looking 80 Conflicts and Cot
ton and the Canning Season and
Whiskev Revenues for BeIiefs-Never
Before, Say ehe Officials, Has The Fi-
nanciai Condition of the Country
Contained so MANY Contradictory
EIements--smali Bankers Rush 10
the Rescue IN Charity, With Gold for
Greenbacks, and Other Banks pony
Up to Stave OFF Observation-Disclosures hiIe
Lazard Freres Ship Gold With One
Hand, and DepSsit With the Other--
Fiaanciers, Even, on the Verge OF
Indignation Against Seeming Deep
ConspiEacy--The Syndicate "Ex-
plains:--Peffer ou a Bond Issue.
WASHINGTON, D. c., Sept. 13.-The
announcement that New York banks
had deposited s2, 900 in gold with
the promise Of a considerable addition
to that amount was quite as much a
surprise at the Treasury Department as
the earlier news of the withdrawal of
81, 100000.
This prompt action of the banks was
faYorably commented upon and the feel
ing Of depression and anxiety that per-
vaded the department this morning have
given place TO one of confidence. Even
those who by reason of their long ex
perience are best able to Judge of the
situation express themselves at loss to
account for the continued and apparently
increasing demands for gold. Never be-
fore in the history Of the department,
they say, has the financial condition of
the country contained so many contra
dictory elements, and never before have
the officials been unable to give an in
telligent forecast OF what was likely to
result from the then existing conditions.
At this time, they add, everything seems
going counter to the general expectation
Several months ago it was stated that
the supply of whiskey withdrawn from
bond just prior to the anticipated in
crease in the internal revenue tax was
about exhausted and that the next few
weeks would see material increase in the
revenues from that source. This in
crease, however, has fallen far below ex-
pectations, with no immediate prospect
of an advance The receipts from Gus
toms sources were also confidently ex-
pected TO Advance at rapid rate. 1t
was argued that that stocks of merch
andise throughout the country were
practically exhausted and that of neces
sity importations would show a marked
improvement. 1t was predicted also that
as the canning season appeared the sugar
importations would add materially to
the receipts and yet none of these
expectations has been fully real zed.
Though the receipts from internal revC-
nue. and customs show some improve
mat, there is wide difference between
the actual figures and the confident ex-
pectations Of the officials.
Whether the anticipated cotton and
grain shipments will relieve the situation,
go far as gold expectations are concerned,
remains to be seen. The amount of the
expectations Of gold during the last
twenty months IS unprecedented. Since
January /, Of last year, the gold coin
and bullion exported from the United
States aggregate sbout $3.50, ASA, 300,
while the imporCations during the same
period amount to only $48, 813, 500, which
leaves the excess Of exports over imports
about 1920, 40, 500.
PETER On a BOnd-Issue.
TOPEKA, Kan, Sept. 13.-'If another
issue Of bonds is made without the au-
thority Of Congress, / shsll' tdvise their
reputation, " said Senator PETER to-day,
speaking about the probability of another
bond issue 10 an Associated Press re-
porter.
Sena or Poe has kept his eye on the
figures which tell Of the condition of the
gold reserve. None have WATCHED it
sliding down below the 100000, 600
mark more anxious!y than he. It was
he who objected very emphatical y in the
Uaited States Senate when the first and
subsequent bond issues were made.
II considered the bond issue fraudu-
lent and / have not changed my position
since then. / still think that the gov
ernment has no authority to issue bonds
without the concurrence OF Congress, y
said be.
II am satisfied that there will be
smother bond issue before October l.,
because the syndicate has been
given the privilege of taking all the
bonds issued before then. There is only
one thing which may prevent a bond
issue, and that is the fear that they will
weaken the Democratic strength. They
are making heroic efforts to strangle the
free siiyrr sentiment in all ths States,
and have to q considerable extent sue
oeeded Look how they squelchcd it in
Kentucky, Arkansas and Iowa, and
nearly all the other States where tests
have been made They are compelling
the silver men to go outside the Demo
cratic party if they desire 10 adhere to
thas principle.
''The leaders think that voters can be
whipped into line, and if they find cut