Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-05-01
THE ADMINISTRATIONS AND WALL
STREET.

The New York Herald makes this OBJ
servation:
We have heard OF a man who stood so
very stral ght that he leaned backward
Secretary Carlisle, in his effort 10 avoid
Wall street influence, is in danger Of SINH
larry curving his spine.
This Is high compliment to the Ad-
ministration and Secretary CARLISLE
though maybe not exactly intended that
way. This is the first time In many
years that the government has had a
Secretary Of the Treasury who was in
ciined to "lean backward" from Wall
street. In the last administration there
was so much leaning forward in the d.
rection Of Wall street that it looked for
all the world like profound and hum
bic obeisance to the greedy bankers of
New York, as indeed it was, for Secre-
VAry FosTER leaned helpless upon them.
) SRtRETARY CARIIsLR's appointment
was made in opposition to Wall streets
wishes and the change that has
followed comes none too soon.
The Heralds Washington dispatches
give clearer view Of the
Administration attitude than its edi-
torial comments thereon:
This statement of President Cleveland
was issued without consulting the New
York bankers. 10 seems 10 be the purpose
of the Administration not 70 consult them.
sThis Admin stration is not seeking the
advice OF the New York bankers as
10 how to COsduct the Government
hnances.~ said q prominent member Of the
Cabinent tonight, when asked il he had
heard or seen anything Of the representa-
tive Of the New y Ork bankers, who was re-
ported 10 have left that city yesterday for
Washington.
~ saw the statement in the Herald, " con-
in ed the Cabinet officer, that az a meet
ms Of the New York bankers they had APP
pointed one Of their number 20 come on 10
Washington and INSULT with the President
and Secretary Carlisle as 10 the proper
dnsncal course for them 70 pursue az this
time. Now, this is very kind Of the New
York bankers, but there Is no necessity for
them 10 90 20 all this trouble. The Admin
istration is thoroughly competent 10 deal
with the present situation, or Tor that mat
ter any situation that may arise. At any
rate. il does not 81 this time feel the need
OF any advice from the New York bankers.
If it does in the future, it will invite the
bankers 10 come 70 Washington and give
their views"
To these facts, the correspondent APP
ponds these Instructive comments:
This very clearly represents the feeling
OF the Admin tratiou toward financial IN
situations OF New York. The President
and Secretary Carlisle apparently feel that
New York bankers should have come 10
the assistance Of the Administration in its
time Of need. Some time ago an effort was
made BY sOmeOf the most prominent bank
ers Of New York 10 have Secretary Car
Isle run over TO New York and discuss the
situation with them. A similar invitation
wns extended 70 Secretary Foster. who, IL
Will be remembered. accepted. Secretary
Carlisle, however, declined. and under
stand his refusal was rather curt
This a vast change for the better and
ia making it the Administration has
shown its wisdom. New York bankers
do not possess a monopoly Of either the
country's intelligence or It's gold.
Though in the matter Of selfshness and
greed they have more thar pod for
them.