The times. [volume] (Richmond, Va.) 1890-1903, 1893-10-26
SHERMAN'S ADMONITlON.
WARNS DEMOCRATS THAT 4 GOLD
DEFICIENCY Is IasIsEST.
saysiffhe Democrats DO Not Act He VIII
Offer An Amendment to
the Repeal Bill.

WASHINGTON. D. C., Oct. Sit Is
reperted that towards the close Of the
Informal meeting OF the Senate Finance
Committee this morning. Mr.. Sherman
called the attention Of his Democratic coll
leagues to the, as he termed It. alarming
condition Of the treasury. lie referred
20 the fact that the gold reserve had
been trenched upon 10 the extent OF nine
teen millions. the money being used for
current expenses and not redemption pur-
poses. as was required by the law, and
asked the Democratic senators what they
proposed 10 do 90 remedy this condition
OF affairs. Mr. Sherman asserted that
the only thing that could be done was 10
issue bonds, for therein was the only
means presented TO the government 10
replenish the exhausted gold reserve
He emphasized the necessity for this
course: and when he pressed his asso-
ciates for an answer he learned that
there was O disposition on their part 10
permit the bill TO pass as II was reported
10 the Senate. Mr.. Sherman Is said TO
have then told the Democrats that there
must be bonds, and that sooner or later
the Democrats must come 20 H. He sug-
gchted that there be issued a total OF
800 100000 redeer1able at the option OF
the government after five years, and
20 draw not more than three per cent;
80 10000 Of this issue he would put out
in denominations OF so OF muitipies, and
stipulate that 1t should be available for
treasury purposes at once.
The Democratic members and some OF
the Republicans maintained that the au-
thority was already given the Secretary
- ha n
act IL 1875, but Mr.. Sherman took issue,
It is said and asserted that he very much
doubted the authority Of the Secretary to
sell these bonds, and especially to sell
them 10 purchase gold TO meet the def
cheney that now stares him i'm the face.
II the Democrats did not intend TO pro-
tect the gold reserve Mr.. Sherman said
he would introduce the amendment him
SELF as he considered 1t matter of the
most vital Importance. This statement
filed the repeal men with the
grayest apprehensions for the success of
the repeal bin, and they besought Mr..
Sherman not 20 take the step he had
for the reason that IL would
another outbreak on the part
Of the senators from the South and en-
danger the ultimate repeal of the bin
Itself
Mr.. Sherman finally consented not to
take the initiative, but warned HIS col
leagues that they must do something 10
protect the gold reserve from further en- |
,roachments.
At 4:SO this afternoon Senators Gray, |
and Sherman emerged from
he room Of the Finance Committee. |
where they had been in conference for
ome time.
When asked whether II was true that
lie intended Offering an amendment to
he bill providing for an issue Of bonds.
dr. Sherman said that he was still I'M
Iecided. lie would think over the matter
Until tomorrow, and would then act as
IFS judgment and the circumstances sug-
rested. Il believe" said Mr.. Sherman,
that there should be an issue of bonds.
but do not desire TO give my reasons
low. II / should conclude TO offer this
amendment / will give my reasons; II /
10 not offer 1t. there is no need Of saying
lnything."
About o'clock Messrs. Voorhees, and
Gray went alone to the formers room,
ard after a short talk Mr. Gray came |
cut, and taking a carriage, drove at once
cp town. II is said that he went 10 the |
White House. He had hardly got out |
Of sight when Mr.. Voorhees, came out bur
riedly. and taking a carriage. was rapid |
ly driven in the same direction. Both |
senator's are supposed to nave seen the /
President, and both of them were back
IN the Senate within an hour.
A prominent member Of the Finance
Committee made the statement this after
noon that IL looked odd, to say the least,
% see member Of the Finance Commit
zee offer an amendment to the bill when
ie had the opportunity while it was being
discussed in committee, and during its
various stages IN the Senate, instead Of
waiting until this late day.
When asked If he would say anything
lbout the proposed bond amendment Of
Mr.. Sherman's, Mr.. Voorhees, replied that
he expected TO pass the bill as it had
been reported by him. ut is a bin for
he unconditional repeal OF the act and
viii be passed unhampered by any amend
nent. j can only ada that any amend
nent that may be offered by any senator
viii be an indication Of his unfriendliness
'or the bill. AS for what may come
lfter the bill has been repealed. or what
nay be considered necessary TO be done,
he Democratic party and Congress will
lot, think, be found lacking In its duty"
The treasury gold reserve is showing
tendency TO increase. standing to-day
4 So, $4,000.