The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-09-15
They Assert There VIII He No Issue
Of Bonds, but a Chicago Man Says
Cleveland II Preparing for One.
MORA CLAIM PAID AT LAST
DRAFT FOR s1,440,o00 DELIVERED
TO ACTING SECRETARY ADEE.
Final Distribution of the Money Like
Who Want Liberal Portions Of 1t.


apprehension that resulted from yester-
days heavy Withdrawals of gold for export
has almost entirely disappeared from the
Treasury Department to-day. but it has
given place TO one of anxiety for the
future None of the higher officials now in
Washington, so far as can be learned, is in
Mr. Carlisle's confidence to the extent of
knowing his views of the situation or his
purposes for the future. and hence no one
is able to speak with any degree of GER
tainty as TO what would be done in the
event OF continued heavy Withdrawals of
gold. The consensus OF opinion. however,
is that there will be no issue of bonds in
the near future in any event, and that an
issue before Congress has had an oppor-
tunity to act is extremely improbable. Nor
is ii thought that the urgency for an issue
before that time will be extreme. 1t is ar
gued that the shrinkage in the shipments
of cotton is very unusual and far below
that of any recent year, and that grain
shipments surely must soon begin, and that
improved business Will stiffen money rates.
"A turn OF the tide, therefore, is expected.
The fact, too, that the United States has
since Jan. 1, 1894, exported more tnan
900 in gold In excess of her imports,
1T is claimed, is strong argument in favor
OF a speedy return 10 normal conditions
What action Congress VIII take in the mat
ter Is probematical, yet 1t seems more tnan
probable that the administration Will pre-
sent some plan for the retirement of United
States notes now outstanding. These
amount TO over s247, 10000. and their pres
ence in bur currency is regarded as con-
stant menace to financial stability.
That some measure TO this end will be pre-
sented in Mr.. Cleveland's message at the
reconvening of Congress is very probable,
ann IL is thought Mr.. Carlisle is now work
ing out a scheme by which this volume of
currency can be retired without any serious
financial disturbance.
lie Treasury Department was not ad-
vised of any gold Withdrawals or deposits
to-day. The true amount of the reserve at
the close of business was S96, ,55i.
Less UneRsiness at Few York.
NEW YORK, Sept. 14-Yesterday's ex-
citement over the financial situation en-
gendered by the impression that the bond
syndicate had Withdrawn it's protection
from the government gold reserve was
succeeded by a calm to-day. There were
no developments TO add TO the uneasiness
in business circles, and consequently the
feeling tended toward reinsurance. When
banking hours clos suSnoon there had
been no. deposits of gold made at the SUBJ
treasury BY any OF the city banks in fur
therance of the policy begun yesterday.
and on the other hand there had been no
Withdrawals for shipment, as no steamers
sail on Sunday. 1t was reported that the
National City Bank had gwen the synd-
cate l,000,0v in gold IN exchange for
greenbacks, put the report could not be
confirmed at the bank in the absence of
President Stiliman, and j. Pierpont Nor
gan declined TO say whether IL was true.
In banking circles 1t was said that unless
the syndicate received some gold from
the National City Bank yesterday it had
no more gold on hand at present. These
gold certificates, about S3tDt.oo0 in all, are
not Cancelled when paid in by the syndi-
the treasury statement to be outstanding.
For the convenience of the syndicate In
making deposits they are allowed to be
reissued. the deposits OF them being treated
always 'cotn.
Representatives of Pittsburg and Roches-
ter banks have made ofrer to deposit
81 ,C00,000 in gold in the subtreasury here
TO help keep the gold reserve intact, the
offer being accompanied by the proviso
that the government pay the express
to snip currency taken in exchange for
gold at government rates, would, ii is
anticipated, result in deposits of gold next
week.
There is absolutely no confirmation to be
had in the hest-informed circles of the
rumors of an impending bond issue. The
probability of such an issue would be
known here only by J. Pierpont Morgan,
the financial adviser and mainstay of the
administration. and possibly by August
Belmont as the representative of the Roths-
ciiilds. w. II. Cannon. president of the
Chase National Bank, the reputed deviser
of the great bond syndicate scheme, has
left New York for the West 10 be absent
about ten days. Mr.. Morgan and Mr. BEL
mont are out of town. and profound igno-
rance obtains among the other members
of the bond syndicate as TO the next tinan-
cial move on the programme.