The World. [volume] (Martinsburg, W. Va.) 1891-1896, 1893-04-29

WASHINGTON. April a5 +-Ail the talk
Is about the financial situation. Specu-
lation Ii rife. The New York bankers
want ID confer, but this administration
does not seem TO be III comforting
mood There has been report current
for Tie ln:t twenty-four hours that q
representative 81 the New York banks
has been lurking ia Washington waiting
To SEQ the secretary Of the treasury, but
hc haa not turned up. The New Workers
want u hi recognized. Even II they
do not procure the issue 81 bonds they
want 10 be talked to and tickled with
tho notion that they aru the monetary
leaders ~ the western world. II II an
nounccd IN dispatch from New York
that the secretary Of tho treasury will
probably meet the metropolitan iinan-
ciers when hc goes over 10 the naval
review, but IL would Be tiIso Carlisle 10
fool 'em.
The financial situation has renewed
talk Ok nh extra session Of congress-
! Respectable arguments have been made
for an extra session before summer sets
in. 10 that the secretary Of the treasury
may be clothed with authority 10 issue
bonds bonds bearing per cent. inter-
est The lowest rate At which he cnn
issue bonds under the present law Is
per cent. md at TINT rate the bonds
must run thirty years That was tried
though III the last congress, and tho
silver men opposed the proposition for
q per cent, bond, arguing That the
power 70 Issue bonds would put into
the hands Of the gold bugs clubs
to battle silver with
To reporter the president said:
1.-THE inclinations on the part Of the
public To accept newspaper reports
concerning the intentions Of those
charged with tho management Of our
national finances seems 10 justify my
emphatic contradictions of tho state
ment that the redemption 81 any kind
Of treasury notes except in gold has ut
any time been determined upon or con-
templated BY the secretary 81 the treas
ury or any other member 81 the present
administration. The president and his
cabinet are absolutely harmonious in
| the determination to exercise every
| power conferred upon thern To main
tain the public credit. to keep the pub
| lie fnith and TO preserve the parity be-
tween gold and silver and between
all financial obligations Of the governs
ment.
while the law Of 1890 forcing tho
purchase 81 fixed amount Of silver
every mouth provides that the secretary
Of the treasury. In his discretion. may
redeem in either gold or silver the
treasury notes given hi payment 81 ST.
yer purchases. yet the declaration OF
the policy Of the government TO main
tain the parity between the two metals
seems 50 clearly To regulate this discre-
tion as To dictate their redemption ID
Igold
.sOf course, perpiexities and difiicnl-
ties have grown out Of an unfortunate
financial policy which we found iii
vogue, and embarrassments have arisen
lfrom ill-adyised financial legislation
confronting us at every turn; but with
cheerful confidence among the people
andia patriotic disposition 10 o-operafe,
threatened dangers will be averted
pending legislative return to better
and sounder financial plan.N
'sI'he strong credit Of the country,
still unimpaired, and the good sense Of
our people which has never failed in
time Of need, are at hand to save rs