St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-28
TALKED TO BANKERS.
Secretary Carlisle Makes a Free
and Frank Statement TO
Gotham Bankers.
He Tells Them That Bonds Will
Only BE Issued as q Last
Resort.

New YORK. April 27.-Secretary Car
Isle decided today to have talk with
the New York bankers. Late Wednes-
day evening, after his arrival from
Washington, he conferred with Assist
ant Treasurer Jordan and ex-Assistant
Charles j. Canda. AS a result
the secretary today suggested
that he meet the bank presi-
dents and private bankers at o'clock
in the afternoon. The pOstpOnement in
the naval review because of the storm
caused some delay, as Secretary Carlisle
accompanied the president on the
Dolphin. The secretary landed with
the president at the foot of
Ninety-SiXth street. and was there
met by the Columbian recep--
ton committee, including President
Simmons, of the Fourth National bank.
The secretary and Mr.. Simmons were
driven to the home of President George
&. Williams, of the Chemical bank
and chairman of the clearing
house association. The following gen
tlemen were there to greet the
secretary; Mr.. Jordan, Mr.. Canda;
President Perkins, of the importers and
Traders: President Sherman, of the
Bank of Commerce; President Cannon,
of the Chase bank; President Ives, of
the Western; President Tappen, of the
Gallatin; President COe, of the Amer
lean Exchange. and President Wood, of
the Hanover, all national banks.
The conference between the secre-
tary and the bank presidents lasted
somewhat over an hour. There was the
utmost good feeling displayed and the
secretary said he was there to make a
frank, free and open statement of what
he believed to be the financial policy
of the government. In the first
place the secretary said that an
issue of bonds Just at this time might be
an effective remedy, but it would only
be temporary, and that it would be fol-
lowed by disturbances in the money
market, and would in the end retard
the determination of the administra-
ton to repeal the Sherman silver
law. The secretary said positively
that there would be no. bonds
issued except as last resort. AS the
secretary outlined the policy of the
government, it was shown that nothing
would be done that in any way re-
tard or check the determination of
the Cleveland administration con-
corning the repeal of the Sherman
law. The secretary went over the cur
rency laws of the country, and SAID that
they were in bad shape and needed re-
vision. He said the revision should
start with the Sherman law. There is
determination also to show the miners
of silver the evil effects of the Sherman
law on their fortunes.
President Cleveland's advisers have
told him that the only way to induce the
Western AMI Southwestern senators
and congressman to consent to q repeal
of the Sherman law is to demonstrate
to their constituents that they are
losing money every day that this
law is in operation. The mission
airy work in that direction has
been started by number of the bank
ers in the solid communities of the
East. They are daily refusing credits
to the South, Southwest and West, fear
ing the effects of the Sherman law. Chi
cago bankers. it is said. are carrying
Secretary Carlisle in his talk
with the bank presidents made his stand
very clear. 1t is to be heroic treatment
all the way through Oh the Sherman
law, and, possibly. by the next session
of congress the silver mine owners and
the adherents of silver in the senate
and the house will be ready to
consent to a repeal of the law.
The bank presidents. replying to Secre-
tarY Carlisle, cordially Informed him
that they would be ready at all times to
cooperate with him i'll the successful
administration of the financial policy of
the government. Everybody shook
hands, ana there was harmony all
round. In the meantime the secretary
continues to receive offers of gold from
unexpected sources.