Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-04
THE STATE BANK TAX.
Its Repeal Will Probably be Suggested to
Congress.
Also Authority to Coin the Silver Bull
Opposition to Repeal.

The probabilities are that there will be q
communication to Congress in some form.
sent either formally or Informally, present
ing a financial proposition, having the ap-
proval Of the administration, which will
very materially weaken the opposition to
the repeal OF the Sherman law. While the
statement that there has been any informal
conference between the President, Secre-
tary Carlisle and other gentlemen on the
subject Is incorrect, there is no question
about the matter having been talked over
recently between Congressman and repre-
sentatives Of the administration, and 1t is
likely that something will come of it. Sec
retary Carlisle and number Of the leaders
in both houses of Congress are desirous Of
the passage Of a bill repeating the state
bank tax and the President is understood
to be favorably inclined to the measure.
To Coin the Silver Bullion.
Mr.. Carlisle has also for some time been
thinking over the question of the coinage
Of the silver bullion now in the treasury.
and Is very anxious that an authorization
for this coinage should be given by Con-
gress. The two propositions will probably
be combined and recommended to Congress
for action. or, at all events, the leaders in
Congress will be given to understand that
the administration will approve of a meas
uIt TcptdllIS the tdA Oil SIdlC DdhhS anu
providing for the coinage of bullion.
Whether this will come in the form of
message from the President to Congress or
a letter from Mr.. Carlisle to some individual
member or Senator cannot now be learned.
1t is understood that Mr.. Carlisle would
like authority for the coinage of all the
bullion held in the treasury. but thinks
the coinage of the seigniorage alone
der the policy Of the administration.
which is to redeem the coin certificates in
gold. the bullion in the treasury practically
stands for nothing.
The Treasury Needs Money.
The treasury is greatly in need of money
and. IL this bullion can be converted into
cash assets. and be made available for ex-
penditures which are authorized by appro-
priation bills, it will be a relief to the treas
ury an also make money much more plen-
tiful in the country. There are a great
many public works authorized by Congress
to he advanced in the discretion Of the de-
partment.
With sufficient money on hand to pay for
1t the work could be pressed actively at
once instead OF letting 1t drag out slowly
over a long term OF years, and this. besides
Fastening the public improvement, would
put the money out in the best way possi-
BILE at the time most needed. If the au-
thority is given by Congress certificates
against the fifty odd millions of seigniorage
could be issued at once and stop the drain
that is now being made on the gOlQ reserve.
After that the other bullion could be coined
as rapidly as deemed necessary or as the
mintS could do the work.
To Ease Up Opposition to Repeal.
It is believed that this proposition. which
is In the nature of an accommodation from
the administration to those who are anx-
ious for an increase in the volume of
money. Is expected to greatly ease up the
opposition to the repeal of the Sherman
law, and 1t is believed that it will hasten
action by the Senate on the voorhees, bill.
The Senators from the silver states may
not be affected by it much, but nearly all
Of the other silver men will probably be
satisfied with it.