Show CLEVELAND ON THE COUNTRYS CASh H 1 Pleased tf itli the Offer of the New York Banks i 1 1 ADDS TO TH STOCK OF POPULAR CONFIDENCE r 5 ir I t XO ELEMENTS OF FEAR IXTHE Ac I IUMI SITUATION T I I T r Administration Determined to Protect Pro-tect Our Aatloual Credit at All Hazards Croaking and Spread of Disquieting Tales Condemned The Government Has NO Deferred Payments to Make But Is PayIng us it Goes in the Usno aJ O Doubt ns to Our Safety 5 5 5 n9n Washingon June 2gThe president today to-day In speaking of the financial situation situa-tion said to an Asosciated Press reporter report-er The offer of certain of the New York banks to replace from their vaults < he gold withdrawn from the government treasury for shipment abroad is certainly cer-tainly thoughtful and patriotic It not only tends to maintain the treasurys gold reserve in good condition but adds to the stock of popular confidence which is at all times important The elements which make up our actual situation do not justify any apprehension and the administration still adheres to its pledge and determination to protect our national nation-al credit at all hazards and to keep the quality of our money equal to the best so far as the limits of the executive permit per-mit Of course croaking and the spread of disquieting tales is calculated to increase In-crease the stringent financial condition I assume however there Is too much patriotism among our people and too much familiarity with our resources and capabilities to permit our reserved force and financial vigor to be discredited When the last government bonds were Issued to replenish our stock of gold ic was nearly as low as now while outside out-side of our gold we had as available money to pay ordinary expenses of the government only about 19OOQ000 Wa now have besides our gold and in money applicable to government expenses more than 53000000 I understand it Is charged in certain cer-tain quarters that the payment of matured ma-tured obligations is postponed to the amount of 30000000 or 75000000 This is not true We are paying as we co in the usual way Last year up to June the balance against us arising from the exports and imports of merchandise excluding ex-cluding gold and silver was 5I552049 The balance in our favor for the same period this year will be SG2JHO562 representing repre-senting a change in our favor of 3127 51268 These conditions taken 4n consll eratlon with the willingness of our banks to help the treasury duririg any tempo racy unusual drain of gold ought to satisfy sat-isfy the most conservative of oun safety I safe-ty It must not be forgotten that another feature In the situation Is that we ar no longer purchasing silver or issuing gold obligations therefor |