Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-04-25
IN THE HOTEL CORRIDORS.


In q discussion o: the present financial si,u-
alton Congressman o. N. Hall Of the third MIN
nesota district at the Ebbin last evening made
anew and interesting point on tho question.
As matter Of fact, [" said Mr.. Hall 20 THr
STAR representative, there is not an actual
Si0c, oOo. 900 reserve fund in the treasury. bus
only about $4,000 900. The redemption law
Of 1875 authorized the sale q bonds fof the
purpose of reGeeming the greenbaeks. Under
that law the government SOLD s9s. 900. 600 %
bonds tbss used in round number. A. OOo 900
az this fund in re9eeniug grccnbacks. ioayiug
IN tho treasury s5I Oc0 600 81 the proceeds OF
the sale Of these bonds, which bv law IN sre-
eideaily set aside for the purpose OF redeeming
greenbacks only.
1T seems 10 me that the government has Ga.
unqnestioned right 20 use al % the s4s O0o. 600.
In round numbers. surplus over the redemptiou
fund set aside Tor the bonds sor tue purpose Of
redeeming tho treasury notes issued for the
purchase OF silver, but do not see how the
900 can be applied 10 that purpose
The redemption act OF 1873 still leaves with
the Secretary % ths Treasury tho power 90
issue bonds for the purpose 90 redeeminc the
greenhacks, but nelihor that law nor any Other
OF which am eognIzant gives him any autlor-
ity 10 issue bonds Tor the purpose o; rcduenIing
the treasury notes.
II think this is the meaning @. Mr.. C,sye-
lands aud Mr. Carlisles messages, and this Is
sOn postum as batAcr nom their state
menss. IL IL not Likely that this reserve will
be reduced TO the S54. 600 600 before the nert
meeting 81 Congress, though l do not tliiuk
there Is any need OF an extra session on tins
point While | personally favor the repeal OF
the Sherman silver oct / do not belieye ,l,..
congress IN Its present mood will repeal AZ"
zone hears great deal about raw mate
rials, said Congressman Lewis Sherry OF
Hartford 90 1nE SrAa representative nj the
iiggs this morning, ''and that brings up the
question, What are raw materials Anyway?'
IT Is very common 90 hear one saw, 'Iale
the tsrif of raw materials, bat lots see What
raw materials really are. My district Is one OF
the most perpleNiag on the tariff question that
can be found In The country. In New Britain
we manufacture builders hardware, table cut
iery, edged and carpenters tools. AZ Bristol
and ferryyiLe We turn out clocks by the thou
sand. The largest silk mill IN the world Is sit
uated In my district. South Manchester ia n
large carpet manufacturing place, while at
, Rockville they turn ont great quantities Of
wooden goods. Then my district is tie great
tobacco growing portion o. Connecticut
In New Britain pig iron is raw material.
In lttisbarg u is a flushed product. After the
farmer has raised hts Sheep cut the wool and
secured and sacked IL Il Is 60 him a finished
pfoiuct ana he demands protection thereon.
liui at Rockville IL Is a raw material aud the
Rockville manufacturers want 10 be protected
from foreign manufactures OF finished wooden
800 Ia nc Tobacco diSIlct tho leaf Is a
hands s., Tar n. he - ,,,.,,'.I ,,,s
maker considers ID a raw material Ana AZ !,
is with silk and countless other industries.
'An New England wants Is free iron and
, "i ~. ,iSe oros ana would also want Tree
raw material tnyes h.e.-a &
her bonn aarv thew are finished ms 10 hcr ,1pt
in the great west and in the south a diffe-cnt
and antasonistic eona,tion of affairs 1. ,re-
scented, for the rcoule cut there have "a INV
the products OF the east. They nrs ,herc,n,e
nearly all tree traders, for thew want 10 Gel
their stuff in an open market as choau "A tiev
can buy it.
The sectional interests OF chs. oourt-v nv.
90 diverse that ID will be- Extremely diaicnIt 10
agree upon a tariff bill which will meet the an
proval of the majority of th, houses of Con-
gress. / Look for the hottest liad of a tight ca
ceeding in earr.stness and bitt,rnes. tbe Nc