Omaha daily bee., 1893-02-24
GROWING MORE SERIOUS
Indications That the Gold Reserve Will Be
Intranched Upon,
ARRANGEMENTS MADE TO ISSUE BONDS
Not Believed to 10 Possible to Avoid That
Course Much Longer-.Wheu tho
Securities Are Likely to
lie Sold.
WASHINGTON BUREAU OF THE BEE, !
5l3 FOURTEENTH STREET,


Another shipment of gold brings the
treasury reserve still more dangerously near
the point where action will become neces-
sary. Suggestions are being received every
hour from prominent bankers and others
who are not prominent, giving advice to the
administration on this subject. The sale of
silver abroad, the issue of gold certificates
to bear interest, the exchange of greenbacks
for gold and a thousand and one plans are
offered To none Of these suggestions is a
reply made The administration has de-
termined what to do. The president does
not want to sell bonds nor does the secre-
tnry of the treasury, but nothing else will
prevent gold from going to premium
when the reserve is intrenched upon, and
there is no use to further conceal that fact.
In anticipation of what may happen, even
under the democratic administration after
the ten days of the present administration
elapse, leading banking institutions in New
York have made negotiations abroad and
formed syndicates for the delivery of gold
to the government in exchange for bonds
No one can tell who will get this contract,
but as there is such n wealth of commanding
names at the call of the administration
there will be no difficulty whatever in max
ing satisfactory arrangements for placing
the additional issue, should it become neces-
sary
The proposed amendment to the sundry
civil bill authorizing the secretary of the
treasury to issue per cent bonds will not in
the slightest degree enlarge the secretary's
powers, but will simply increase his facilities
in creating another issue at a lower rate
than that already fixed by law. Should the
amendment fail in congress the issue and
sale of per cent bonds may be made at a
premium, which will reduce the net interest
to the holders to 3 per cent.
Democrats Displeased.
Chairman Harrity's attempt to canvass
the next house upon the repeal of the Sner-
man silver purchasing act by means of u
'contucntial' circular, as exposed by Phila-
delphia dispatches published this morning,
caused great deal of comment among both
republicans and democrats in congress
today. Many democratic representatives
who are members-elect of the next house
are offended by Mr.. Harrity's circular. They
interpret it as meaning that MIR. Cleveland,
having failed to bring about the repeal of
the Sherman act through the influence of
Mr.. Dickinson and Mr. Willard, has now
called to his aid the chairman of the demo-
cratic national committee.
In their opinion the head of the national
party organization ought not to use his in
tiuence in that position to interfere with the
independent action of congress upon non
partisan legislation. OF course it is the free
SllNbF WING Oh UllO ucInOCTdUlC membership
of the next. house that Is most bitterly
opposed by Chairman Harrity's circular 1t
is doubtful whether this attempt to influence
legislation will not do more harm than good
to the cause of repeal in the next house 1t
will stir the free silver men into an aggres-
sive campaign in order to discount the effect
of Mr.. Harrity's circular.
Foreshadowed an Extra Session.
The circular was generally interpreted as
foreshadowing an extra session. 1t was also
accepted as evidence that MIR. Cleveland is
preparing a black list of democratic men,
bers of the next house who are not in accord
with his policy, and that he wishes this
list at once for use at the very outset
of his administration in the distribution of
| patronage. AS illustrating the bitterness
and resentment which Mr. Clevelands pros
pective distribution of patronage is exciting
among democrats, there may be cited an in
stance which occurred on the floor of the
house today.
Mr.. Herbert of Alabama had just entered
and was receiving hearty cheers from his
friends on both sides of the house, upon his
selection for the next secretary of the navy.
Mr.. Tillman of South Carolina, a free silver
democrat, who owes his election to the house
to the suppression of the colored republican
vote in his district, cried to another demo-
crat who was applauding Mr.. Herbert, to sit
down and keep still, because Mr.. Herbert
had voted against the free silver men, there
by securing the favor of the president-elect.
Influenced the appointment.
The Bell Telephone monopoly is another
corporation influence which seems to have
joined the street railway syndicate and the
Northern Pacific railroad in influencing,
doubtless without the consciousness of Mr..
Cleveland, the formation of his cabinet.
There are circumstances and condolences
which Indicate that the selection of Richard
Olney of Massachusetts for attorney general
will not be offensive to the gentlemen who
are interested in the Bell Telephone COM
pany, against which the United States now
has a suit pending before the supreme court.
Olney comes from n city which is the seat
of the parent company. His social and per-
sonal associations in Boston have been and