The morning call., 1893-04-29
ALL FEEL BETTER.
Mr.. Carlisle Has More
Confidence.
GOLD GOES OUT SLOWLY.
And There Seems Nothing Alarm
ing in the Situation.
NEW YORK BANKERS HOPEFUL.
Nevertheless There Is a Feeling That
They Do Not Believe What They
Themselves Say.
NEW YORK BANKERS HOPEFUL.
Special to THE MoRN1Ne CALL.

WASHINGTON, April 2s.-Offers of gold
in exchange for legal tender notes are still
being received at the Treasury Department.
and the aggregate runs into the hundreds
of thousands. During the past week offers
have been made and accepted from San
Francisco, Roanoke, Va, Pittsburg. WASH
ington, st. Louis. Boston, Norfolk, Va.
Columbus. Ca, Baltimore, Philadelphia and
New Orleans. The reports from New York
indicate that..very little, if any, gold will 60
out tomorrow, and this, in connection with
the low rate of exchange. is accepted by
treasury officials as mGst encouraging
fact and as an indication that If the gold
tide has not actually been turned il has
been stemmed for the present, at least.
There is still considerable talk of an extra
session for the consideration of the fnan-
cial question, but if the reserve fund is to
he regarded by the administration as so
much available gold for meeting obligations
it is improbable that there will be so alarm
ing depletion Of the fund as to render such
a session necessary. The consensus of
opinion seems to be that an extra session
will be convened about the 1st of Septem-
Der, but that it will be called no more for
the consideration of the financial question
than for the readjustment of the tariff.
The News says: "A plan for the sus-
pending cf the sugar bounty without wait
ing for the slow action OF Congress has
been suggested to President Cleveland.
The plan consists in a single order from
the Secretary of the Treasury to his sub
ordinates to draw no more warrants and
make no payments on account Of sugar
bounties. Such action in a single case
would be sufficient TO carry the matter to
the courts and secure a decision from the
Supreme Court of the United States upon
the naked question whether the payment to
individuals Of money received by taxation
was within the power of Congress under
the constitution. President Cleveland has
not yet considered the subject carefully.
but he will probably ask Attorney General
0lney for an opinion as to whether bounties
are constitutional, and whether it is within
the power of the executive to test the
question by refusing payment
This is the only way in which a constitu-
tional question can be properly raised. The
attempt was made in cases questioning the
validity of the Mckinley law to call the
whole law in question on the ground that
bounties were unconstitutional, but the
court properly decided that the clauses ac-
tually in issue were constitutional, and that
the whole act W ould not fail because of the
possible lack of consttutionalty in one of
its separate parts. Several sitting Justices
of the Supreme Court are reported to be on
record against the power of the United
States to take private property under forms
of taxation for private use.
The Secretary of the Treasury has no
direct control over COmptrollers, but he
can suspend sugar payments by an order to
his disDursins officers, and the Comptrollers
would have no power to execute their find
ings in favor of the payment of the bounty
in individual cases. This course. it Is be-
lieved. would involve no undue assumption
of authority on the part of the Secretary Of
tile Treasury. especially as it is the only
means of testing the cOnsitutionality of the
law.
Chairman Springer of the Ways and
Means Committee is one of those who are
attracted by the plan. and he will probably
have talk on the subject with the Presi-
dent soon after they return from the Worlds
Eair