The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-29
TWO CONFLICTING DECISIONS.

Mir. Sherman think not, have not
seen any Of those decisions.
MIR Blackburn know it is generally
understood that the late Attorney Gen
eral did during the administration OF
Secretary Foster hold that the power for
the sale Of these bonds TO make good the
deficit in the gold reserve Of SlOOOOO,OOO
existed.
MIR. Sherman-No Secretary has dared
| TO exercise that power.
Mr. Blackburn admit that there has
been no exercise Of that power. / concur
in the opinion of the senator from Ohio.
l deny that the Treasury department has
any such authority, but the question
| asked was as to whether the last Attorney
/ General did not under the administra-
ton of Secretary Foster hold that
the power to sell bonds existed.
MIR. Shenandoah ! can not answer,
| because / do not know It Is now stated
on both sides Of the Senate that there is
! no power now in the Secretary of the
| Treasury to issue any kind of BOMBS.
| Even if he had the power, what secret ary
would issue them-what secretary would
! dare to issue 8O-year bonds running at
| per cent, when we can borrow
money easily at per cents
! If we should attempt to sell those
! bonds at premium NOBODY but a capit-
! alist,whO looks l0nS ahead as 10 the value
/ of accruing interest, would be able to
/ perchase them. They would not be
| distributed throughout the country"
POWER OF THE PRESIDENT.
Mr.. Sherman said he was tired of the
newspaper talk about the President Of
| the United States doing all this and that
! in regard to financial matters. The Pres
| idcut had no more power over financial
| question than any other citizen of the
! United States From the beginning of
. "a
! conferred to deal with financial questions
| had been with the Secretary of the
Treasury. The President was not to eX-
| ercise those powers. 1t was the delegated
agent of congress, the secretary, who re-
| ported to congress direct, and not through
the President.
NO REQUEST FROM CARLISLE.
Mr.. Butler-May I inquire if the Secre-
| tary of the Treasury has asked for the
| authority which the senator is claiming
he ought to have?
MIR. Sherman would not like to
| answer that.
| Mr.. Butler-It must be aipublic matter.
Mr.. Sherman do not think he asks
for it. l can say he does not ask it.
Mr.. Butler-That must be matter of
public record. If he has, certainly he
| should communicate it to congress,
MIR. Sherman--I do not know of any
record that pertains to the subject.
| should think it would be a very delicate
matter for the Secretary of the Treasury
| to attempt to originate that idea when
the congress of the United States is the
| proper place for it.
MIGHT ADDRESS CONGRESS,
Mr.. Teller-Would there be any inn
propriety if the secretary thought it nee
essary to sell bonds on his part to ad-
| dress a communication to congress on
that subject
Mr.. Sherman-No
| Mr. Teller-Would it not be the proper
thing to do if he thought he ought to sell
| bondsl
Mr.. Sherman-The secretary never
volunteers advice. The Senate may Sc
cure this opinion by simple resolution.
Mr.. Ieler-lf there is a deficiency in
the revenues now, and likely to be in the
future, / ask the senator whether that is
not proper subject for the President to
! address congress on under the constitu-
! tional provision that he shall inform con
! gress as to the condition of the country,
| etc
! Mr.. Shenandoah has been done;
| perhaps the senator overlooked it. 1t has
! been done by the finance committee. call
! ing on the Secretary Of the Treasury as
to the nature of the deficiency, how much
| ii is, etc.
THE PRESIDENTS POWER,
Mr.. Teller-What asked was whether
| the President could not, under the
| power conferred on him by the consti-
| tuition to keep congress advised as to the
condition of the country, make such a
recommendation.
MIR. Sherman-Undoubted he could.
| But the senator, who has been a cabinet
| officer, is probably aware of the fact that
all questions of finance are dealt with di-
| rectly by the Secretary OF the Treasury.
| do not recall single instance in which
the President addressed congress, except
| in his annual message, upon financial
! question.
MIR. Blackburn repeated his question as
TO whether the late Attorney General
had not rendered decision that power
to sell bonds existed, and added that the
matter had gone so far that plates We're
engraved from which the bonds should be
printed. He asked Mr.. Sherman if he
not know that was so.
II do not" replied Mr., Sherman.
Mr. Blackburn say l do. will ask
whether the senator from Ohio was not
consulted at the time upon the subject.
Mr.. Sherman--I was not.
Mr.. Blackburn will say to the sena-
tor that a subpoena duces tecum served
upon the superintendent of the bureau of
engraving and printing will bring these
plates to this chamber within an hour.
GoRMAN GOES FOR SHERMAN.
Mr.. German followed Mr.. Sherman.
Commenting on Mr.. Shermanis speech, he
said: Il am surprised that he should
bring in party questions, and attempt
: to,talSe. partisan advantage of delays or
mistakes if there have been mistakes, or
now in the closing hours of this great
struggle, that the distinguished leader
should tell US and tell the country that
the measure itself will be impotent, that
it eliminates silver or its further use for
the moment
Mr. Sherman--I spoke strongly in favor
of the use of silver to the largest posi-
BILE extent.
Mr.. Gorman-If I have misunderstood
the senator, all on this side of the cham
Der seem to have shared with me in mis-
understanding him-that the passage OF
the act, as / said, would not give the re-
lief to the country that the country ex,
4 pected, Now, do I misrepresent the
senator
Mir. Sherman said it might not meet
the expectation of the people.
PLEDGED TO REPEAL THE WHOLE LAW
Mr. Gorman-If I understand the po
sition Of the Democratic partyin the be
ginning Of this controversy, it was that
we pledged ourselves TO the repeal of the
Sherman law.